EIC Accelerator Results March 2022

Summary

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

• 74 companies have been selected for funding.
• 51% of applicants have been selected to receive blended finance.
• The total requested budget by the 65 companies is €382 million.
• The success rate was 6.8%.
• 1091 full proposals were submitted. 

The overall success rate is slightly lower than 6.8%. 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 June 2022, EIC Accelerator Results October 2021, EIC Accelerator Results June 2021 

Winners by Funding Type and Country

The top 3 countries home to the most winners are Germany (15), France (12) and Finland (6).

Source: Data published by the EIC

Source: Data published by the EIC

Blended Finance Winners by Country 

For the March 2022 cut-off, 38 companies have been awarded blended finance. Nine start-ups in France successfully secured blended funding from the EIC. This represents 24% of the 38 successful applicants. 37% of the successful start-ups are based in the France & Benelux region. In the Nordic countries, there are 8 winners, representing 21% of successful applicants who will receive blended funding.

Source: Data published by the EIC

Source: Data published by the EIC

Total Blended Finance

Our data shows that a total of €302 million was awarded for this call, which is just over half the amount awarded (€552 million) in the October 2021 call. The top 3 countries that have secured the most blended funding are  Germany (22%), France (21%) and Finland (16%). Start-ups in the CEE have won blended funding worth €16.5 million (5%). 

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 €8.0 million in grant and equity funding. The median amount of funding was €7.0 million.

One Danish and one German company won the maximum amount (€17.5 million) of blended funding. French firms received an average of €7.0 million in funding. Six German companies received an average of €10.9 million, and five Finnish companies received an average of €9.4 million in funding.

Source: Data published by the EIC

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

Resources

1.  https://eic.ec.europa.eu/system/files/2022-06/EIC%20Accelerator-March%2023%20Cut%20Off%20v2.pdf
2. https://eic.ec.europa.eu/news/most-competitive-eic-accelerator-cut-awards-major-funding-round-74-europes-high-potential-start-ups-2022-06-07_en