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Industry Insights from EIC Accelerator Winners in 2021-2023

January 10, 20241,505 words8 min

The EIC Accelerator funding (grant and equity, with blended financing option) by the European Commission (EC) and European Innovation Council (EIC) is designed to fund startups and Small- and Medium-Sized Enterprises (SME) and awards up to €2.5 million in grant and €15 million in equity financing per project (€17.5 million total).

Beneficiaries are often supported by professional writers, freelancers or consultants since the EIC Accelerator application process is highly complex and lengthy. Additionally, the program is generally opaque and confusing for most first-time applicants since its documentation is very general while statistics and reports are mostly focusing on a few case studies and the top industries rather than presenting a big picture.

Analyzing EIC Accelerator Beneficiaries

ChatEIC, a custom AI based on GPT-4, is focusing on the EIC Accelerator and is able to analyze large datasets as well as extract valuable information that can help EIC Accelerator applicants and policymakers gain insight into the types of companies that are being funded by the program. Since all EIC Accelerator Beneficiaries are made public, it is possible to derive insights regarding their industries and products.

All EIC Accelerator applicants who have been funded since 2021 fall into the following high-level categories in order of popularity:

  1. Medical Devices
  2. Environmental Technology
  3. Pharmaceuticals
  4. Biotechnology
  5. Semiconductor Technology
  6. Artificial Intelligence
  7. Agricultural Technology
  8. Healthcare Technology
  9. Space Technology
  10. Renewable Energy and Storage
  11. Quantum Computing
  12. Food Technology
  13. Construction Technology
  14. Battery Technology
  15. Automotive Technology
  16. Cybersecurity
  17. Clean Technology
  18. Recycling Technology
  19. Industrial Automation
  20. Electric Vehicles
  21. Telecommunications
  22. 3D Printing
  23. Nanotechnology
  24. Water Treatment Technology
  25. Textile Industry

A More Granular Approach

But of course, these high-level industry overviews are what has already been reported numerous times.

Very often, companies innovate at the intersection of existing technologies and it is often impossible to pigeonhole them into a single industry. Thus, the following list presents a more detailed approach regarding all funded EIC Accelerator companies since 2021 and their respective industry:

  1. Biotechnology (75 Companies)
  2. Medical Devices (52 Companies)
  3. Medical Technology (22 Companies)
  4. Quantum Computing (9 Companies)
  5. Semiconductor Technology (8 Companies)
  6. Agricultural Technology (7 Companies)
  7. Renewable Energy (6 Companies)
  8. Environmental Technology (6 Companies)
  9. Pharmaceuticals (5 Companies)
  10. Medical Imaging (5 Companies)
  11. HealthTech (5 Companies)
  12. Medical Diagnostics (5 Companies)
  13. AgriTech (4 Companies)
  14. Artificial Intelligence (4 Companies)
  15. Biotechnology / Pharmaceuticals (3 Companies)
  16. Construction Technology (3 Companies)
  17. Medical Robotics (3 Companies)
  18. Battery Technology (3 Companies)
  19. Digital Health (3 Companies)
  20. Automotive Technology (3 Companies)
  21. Environmental Monitoring (3 Companies)
  22. Renewable Energy Storage (3 Companies)
  23. Space Technology (3 Companies)
  24. Packaging Materials (2 Companies)
  25. Biomedical Engineering (2 Companies)
  26. Green Technology (2 Companies)
  27. Transportation Technology (2 Companies)
  28. Cleantech HVAC (2 Companies)
  29. Cybersecurity (2 Companies)
  30. Food Technology (2 Companies)
  31. Semiconductors (2 Companies)
  32. Additive Manufacturing (2 Companies)
  33. Oncology Biotech (2 Companies)
  34. Clean Energy Technology (2 Companies)
  35. Textile Technology (2 Companies)
  36. Assistive Technology (2 Companies)
  37. Telecommunications (2 Companies)
  38. Recycling Technology (2 Companies)
  39. Biotechnology AI (2 Companies)
  40. Medical Imaging AI (2 Companies)
  41. Energy Storage (2 Companies)
  42. Aquaculture Technology (2 Companies)
  43. Augmented Reality (2 Companies)
  44. Aerospace Engineering (1 Company)
  45. Analytical Instrumentation (1 Company)
  46. AgriTech / BioTech (1 Company)
  47. Photonics (1 Company)
  48. Oncology Biotechnology (1 Company)
  49. Electric Vehicle Charging (1 Company)
  50. Dermatological Diagnostics (1 Company)
  51. Biotechnology Dyes (1 Company)
  52. Materials Technology (1 Company)
  53. LiFi Aerospace Communication (1 Company)
  54. Artificial Intelligence Imaging (1 Company)
  55. Space Tech (1 Company)
  56. Green Energy Storage (1 Company)
  57. Biomedical Imaging (1 Company)
  58. Biodegradable Materials (1 Company)
  59. Transportation Optimization (1 Company)
  60. Indoor Air Quality Monitoring (1 Company)
  61. Computer Vision (1 Company)
  62. Healthcare Technology (1 Company)
  63. Sportstech or Wearable Technology (1 Company)
  64. Wireless Charging (1 Company)
  65. Bioinformatics SaaS (1 Company)
  66. Synthetic Speech Technology (1 Company)
  67. FoodTech / AgriTech (1 Company)
  68. Oncology Therapeutics (1 Company)
  69. Thermo-Acoustic Heat Pumps (1 Company)
  70. Medtech Robotics (1 Company)
  71. Aquaculture (1 Company)
  72. Sustainable Maritime Tech (1 Company)
  73. Radiation Filter (1 Company)
  74. Agricultural Biotechnology (1 Company)
  75. EdTech (Educational Technology) (1 Company)
  76. AgriTech AI (1 Company)
  77. Sustainable Packaging (1 Company)
  78. Power Electronics (1 Company)
  79. Orthopedics Biotechnology (1 Company)
  80. Green Construction Tools (1 Company)
  81. Space Safety (1 Company)
  82. Photonics Technology (1 Company)
  83. Aerospace Manufacturing (1 Company)
  84. Insulation Materials (1 Company)
  85. Gas Analysis Technology (1 Company)
  86. Biotechnology or Medical Devices (1 Company)
  87. Gaming Content Platform (1 Company)
  88. Bio-based Additives (1 Company)
  89. Pharmaceutical Technology (1 Company)
  90. Marine Technology (1 Company)
  91. Electric Vehicles (1 Company)
  92. Music Technology (1 Company)
  93. Biotechnology / Pharmaceutical Industry (1 Company)
  94. Industrial Automation (1 Company)
  95. Thermodynamics/Cooling Technologies (1 Company)
  96. Internet of Things (IoT) (1 Company)
  97. Drone Navigation Technology (1 Company)
  98. Digital Media Distribution (1 Company)
  99. Biocontrol Production (1 Company)
  100. Biotechnology Software (1 Company)
  101. Exoskeleton Technology (1 Company)
  102. Energy Technology (1 Company)
  103. Energy Management (1 Company)
  104. Quantum Communications (1 Company)
  105. Analytical Instruments (1 Company)
  106. Mobile Networking (1 Company)
  107. Thermodynamics (1 Company)
  108. Footwear Manufacturing (1 Company)
  109. Foodtech (1 Company)
  110. Financial Technology (FinTech) (1 Company)
  111. Medical Equipment (1 Company)
  112. Optical Metrology (1 Company)
  113. Mining Technology (1 Company)
  114. Aerospace Technology (1 Company)
  115. Waste Management (1 Company)
  116. Textile Recycling (1 Company)
  117. Automotive Sensors (1 Company)
  118. Aerospace Logistics (1 Company)
  119. Logistics Technology (1 Company)
  120. Biofuel Technology (1 Company)
  121. Nuclear Energy (1 Company)
  122. Climate Tech (1 Company)
  123. Pharmaceutical Biotechnology (1 Company)
  124. Solar Energy (1 Company)
  125. Battery Materials (1 Company)
  126. Dental Technology (1 Company)
  127. Semiconductor IP (1 Company)
  128. HVAC Solutions (1 Company)
  129. Geospatial Analytics (1 Company)
  130. Climate Data Analytics (1 Company)
  131. Mycotechnology (1 Company)
  132. Electricity Transmission (1 Company)
  133. Battery Analytics (1 Company)
  134. E-commerce Technology (1 Company)
  135. Analytical Technology (1 Company)
  136. Biotechnology Sensor (1 Company)
  137. Personalized Medicine (1 Company)
  138. Electroplating (1 Company)
  139. Orthopedic Devices (1 Company)
  140. Winery Technology (1 Company)
  141. Geotechnical Engineering (1 Company)
  142. Photonics Industry (1 Company)
  143. Wireless Communications (1 Company)
  144. Biotech Manufacturing (1 Company)
  145. Livestock Tech (1 Company)
  146. Robotics Construction (1 Company)
  147. Cellular Agriculture (1 Company)
  148. Marine Conservation (1 Company)
  149. Agricultural Biotech (1 Company)
  150. AgriTech/BioTech (1 Company)
  151. Predictive Maintenance (1 Company)
  152. Green Packaging (1 Company)
  153. Ocean Acoustics (1 Company)
  154. Supply Chain Technology (1 Company)
  155. Biotechnology or Agribiotech (1 Company)
  156. Green Tech (1 Company)
  157. Building Materials (1 Company)
  158. Advanced Sensor Technology (1 Company)
  159. AI Visual Assistance (1 Company)
  160. Insect Farming Technology (1 Company)
  161. Photovoltaic Manufacturing (1 Company)
  162. Energy Storage Manufacturing (1 Company)
  163. Audio Technology (1 Company)
  164. Water Treatment (1 Company)
  165. Electronic Recycling (1 Company)
  166. Wearable Technology (1 Company)
  167. Optoelectronics (1 Company)
  168. Water Purification (1 Company)
  169. Precision Robotics Components (1 Company)
  170. Offshore Construction (1 Company)
  171. Energy Harvesting (1 Company)
  172. Circular Economy (1 Company)
  173. Prosthetics Industry (1 Company)
  174. Green Rubber Industry (1 Company)
  175. Smart Materials (1 Company)
  176. Composite Recycling (1 Company)
  177. Agri-Tech or FoodTech (1 Company)
  178. Prosthetics / Bionics (1 Company)
  179. Renewable Energy Tech (1 Company)
  180. Clean Technology / Cleantech (1 Company)
  181. Space Debris Management (1 Company)
  182. Meteorological Analytics (1 Company)
  183. Space Services (1 Company)
  184. 3D Printing (1 Company)
  185. Agrobiotechnology (1 Company)
  186. Sustainable Materials (1 Company)
  187. Sustainability Tech (1 Company)
  188. Robotics Automation (1 Company)
  189. Biometric Security (1 Company)
  190. Display Technology (1 Company)
  191. Semiconductor Sensors (1 Company)
  192. Advanced Materials (1 Company)
  193. Fintech (1 Company)
  194. Bioenergy Production (1 Company)
  195. Battery Recycling (1 Company)
  196. Aerospace Industry (1 Company)
  197. Biotechnology or Pharmaceuticals (1 Company)
  198. Anti-Counterfeiting (1 Company)
  199. Laser Technology (1 Company)
  200. Obstetric Diagnostics (1 Company)
  201. Industry category: Industrial IoT (Internet of Things) (1 Company)
  202. Biometrics Technology (1 Company)
  203. Artificial Intelligence (AI) Technology (1 Company)
  204. Biotechnology or Pharmaceutical Industry (1 Company)
  205. Energy Infrastructure (1 Company)
  206. Software Testing (1 Company)
  207. Satellite Communications (1 Company)
  208. Biologistics (1 Company)
  209. Electronic Design Automation (EDA) (1 Company)
  210. Infrastructure Inspection (1 Company)
  211. Oncology Support (1 Company)
  212. Semiconductors (AI Chips) (1 Company)
  213. Textile Manufacturing (1 Company)
  214. Optoelectronics Manufacturing (1 Company)
  215. Semiconductor Diagnostics (1 Company)
  216. Respiratory Health AI (1 Company)
  217. Oncology Diagnostics (1 Company)
  218. Construction Equipment Electrification (1 Company)
  219. Geospatial Mapping (1 Company)
  220. Biopharmaceuticals (1 Company)
  221. Metallurgy (1 Company)
  222. Biotechnology Pest Control (1 Company)
  223. Quantum Cryptography (1 Company)
  224. Optoelectronics Industry (1 Company)
  225. Nanotechnology (1 Company)
  226. Drone Data (1 Company)
  227. Mixed Reality Technology (1 Company)
  228. Biotechnology Agriculture (1 Company)
  229. Electronic Materials (1 Company)
  230. AgriTech / Cleantech (1 Company)
  231. Biodegradable Packaging (1 Company)
  232. Medical Sterilization (1 Company)
  233. Water Technology (1 Company)
  234. Nutraceuticals (1 Company)
  235. Data Privacy (1 Company)
  236. Agriculture Technology (1 Company)
  237. Quantum Technology (1 Company)
  238. CleanTech / Solar Energy (1 Company)
  239. Artificial Intelligence Safety (1 Company)
  240. Semiconductor Manufacturing (1 Company)
  241. Materials Science (1 Company)
  242. Space Robotics (1 Company)
  243. Environmental Analytics (1 Company)
  244. Materials Engineering (1 Company)
  245. Edge Computing (1 Company)
  246. Biochemicals Industry (1 Company)
  247. Carbon Capture (1 Company)
  248. Electric Vehicles (EVs) (1 Company)
  249. Telecommunications Technology (1 Company)
  250. Oncology Pharmaceuticals (1 Company)
  251. Energy Recovery (1 Company)
  252. CleanTech (1 Company)

There are still opportunities to summarize the AI-generated list further such as very similar and synonymous descriptions but this list illustrates that the ideal descriptions for each project are more unique than high-level summaries would suggest. It also shows that the majority of companies are not part of the top-level industries and there is plenty of room for unique innovations in the EIC Accelerator program.

Start with the EIC Accelerator

Expert review for Step 1 and Step 2, suitability assessment and grant screening.

Eureka Network

Eureka Network offers multiple international collaborative R&D programs including Network Projects, Clusters, Eurostars, Globalstars, and Innowwide, with funding ranging from €50K to €6.75M per project depending on the specific program. The network focuses on market-driven innovation and deep-tech development across diverse technology sectors including ICT/Digital, Industrial/Manufacturing, Bio/Medical Technologies, Energy/Environment, Quantum, AI, and Circular Economy. Applicants include SMEs, large enterprises, research organizations, universities, and startups, with Eurostars specifically targeting R&D-performing SMEs.

EIC Transition

EIC Transition provides up to €2.5 million in funding to bridge the 'valley of death' between laboratory research and market deployment, focusing on technology maturation and validation. The program supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Technology areas include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics.

EIC STEP Scale-Up

EIC STEP Scale-Up offers substantial equity investments of €10-30 million for established deep-tech companies ready for hyper-growth and large-scale expansion. The program targets SMEs or small mid-caps with up to 499 employees who have secured pre-commitment from qualified investors. Focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero goals, and Biotechnologies.

EIC Pre-Accelerator

EIC Pre-Accelerator is a pilot program providing €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. The initiative is exclusively available to single SMEs or small mid-caps from 'Widening countries' to support regional innovation development. The program covers deep-tech innovations across physical, biological, and digital domains.

EIC Advanced Innovation Challenges

EIC Advanced Innovation Challenges is a new pilot program offering €300,000 (Stage 1) and up to €2.5 million (Stage 2) for breakthrough deep-tech solutions through ARPA-style staged funding with demand-side integration. The program targets single entities or small consortia (2-3 partners) including SMEs, start-ups, and research organizations. Focus areas include Physical AI for autonomous robotics and New Approach Methodologies (NAMs) for animal-free biomedical testing, requiring TRL 4 entry with end-user commitment.

EIC Pathfinder

EIC Pathfinder offers up to €3 million for Open calls and up to €4 million for Challenge-based calls to support early-stage research and development with proof-of-principle validation. The program requires research consortia with a minimum of 3 partners from 3 different countries, including universities, research organizations, and SMEs. Technology focus areas include Health/Medical, Quantum Technologies, AI, Environmental/Energy, and Advanced Materials.

EIC Accelerator

EIC Accelerator provides flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The program targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Other technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors.

Innovation Partnership

Innovation Partnership facilitates collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The program supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects focus on addressing societal challenges through collaborative innovation approaches.

Innovation Fund

The EU Innovation Fund provides substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The program targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Applicants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects.

Innovate UK

Innovate UK offers various programs with funding ranging from £25K to £10M depending on the specific initiative, supporting business-led innovation, collaborative R&D, and knowledge transfer. The organization funds projects across all sectors with particular focus on emerging technologies and supports UK-based businesses, research organizations, and universities. Programs are designed to drive economic growth through innovation and technology commercialization.

Industrial Partnership

Industrial Partnership provides €2-10 million in funding for industrial research and innovation partnerships focusing on manufacturing, industrial technologies, and digital transformation. The program supports industrial consortia and research organizations in developing collaborative solutions for industrial challenges. Projects aim to strengthen European industrial competitiveness through strategic partnerships.

Eurostars

Eurostars is a joint EU-Eureka program offering €50K-€500K for international R&D collaboration specifically led by SMEs. The program takes a bottom-up approach, accepting projects from all technology fields without predefined thematic restrictions. R&D-performing SMEs must lead the consortium and demonstrate significant R&D activities.

LIFE Programme

The LIFE Programme provides €1-10 million in funding for environmental protection, climate action, and nature conservation projects across the European Union. The program supports environmental technologies, climate adaptation strategies, and biodiversity conservation initiatives. Applicants include public authorities, private companies, NGOs, and research institutions working on environmental and climate challenges.

Neotec

Neotec is a Spanish program offering €250K-€1M in funding for technology-based business creation and development, supporting the growth of innovative Spanish SMEs and start-ups. The program covers all technology sectors and aims to strengthen Spain's technology ecosystem. Funding is specifically targeted at Spanish technology-based SMEs and start-ups to enhance their competitiveness and market presence.

Thematic Priorities

EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas.
EIC AcceleratorHorizon Europe#grants#startup#deeptech
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