EIC Accelerator Results June 2022

Summary

The results for the EIC Accelerator’s June 2022 cut-off:

• 75 companies have been selected for funding.
• 57% of applicants have been selected to receive blended finance.
• The total requested budget by the 75 companies is €397 million.
• The success rate for full applications was 7.6%.
• 986 full proposals were submitted. 

The overall success rate is slightly lower than 7.6%. This is because the success rate for short proposals submission must be considered. However, there is no publicly available data for the number of short proposals submitted. Based on our estimated figures, we calculated an overall success rate between ~4-5%.

Note: Several assumptions were made where data was not available: The number of short proposals submitted was approximated using past Step 1 success rates, the number of full proposals submitted for this cut-off, and the (approximate) total number of short proposals submitted since April 2021. 

Read more: EIC Accelerator Results October 2022, EIC Accelerator Results March 2022, EIC Accelerator Results October 2021

Winners by Funding Type and Country

The top 3 countries home to the most winners are France (13), Germany (8) and the United Kingdom (7).

Source: Data published by the EIC

Source: Data published by the EIC

Blended Finance Winners by Country 

For the June 2022 cut-off, 43 companies have been awarded blended finance. Ten start-ups in France successfully secured blended funding from the EIC. This represents 23% of the 43 successful applicants. 40% of the successful start-ups are based in the France & Benelux region.

In the Nordic countries, there are 8 winners, representing 19% of successful applicants who will receive blended funding. In the DACH region, there are 9 (21%) winners.

Source: Data published by the EIC

Source: Data published by the EIC

Total Blended Finance

Our data shows that a total of €325 million was awarded for this call, which is in line with the amount awarded in the prior March 2022 call (€302 million). The top 3 countries that have secured the most blended funding are France (27%), Germany (13%) and the Netherlands (12%). Start-ups in the CEE have won blended funding worth €9.8 million (3%).

Source: Data published by the EIC

Source: Data published by the EIC

Average Blended Finance

Our data shows that start-ups received an average of €6.6 million in grant and equity funding. The median amount of funding was €7.6 million. The most amount of funding was won by an Irish firm.  

No companies won the maximum amount of blended funding (€17.5 million) during this call. French firms received an average of €8.8 million in funding. Six German companies received an average of €7.2 million and three Austrian firms received an average of €8.0 million. 

Source: Data published by the EIC

Read more: EIC Accelerator Results March 2022, EIC Accelerator Results October 2021, EIC Accelerator Results June 2021 

Resources

1.  https://eic.ec.europa.eu/system/files/2022-10/Seleceted%20companies%20-%20EIC%20Accelerator%2015%20June%20cut-off.pdf
2. https://eic.ec.europa.eu/news/european-innovation-council-new-wave-deep-tech-start-ups-set-receive-accelerator-grants-and-equity-2022-10-14_en