EIC Accelerator Results October 2021

Summary

The results for the EIC Accelerator’s October 2021 cut-off:

• 99 companies have been selected for funding.
• 66% of applicants have been selected to receive €414 million in equity investments.
• The total requested budget by the 99 companies is €627 million.
• The success rate was 9.0%.
• 1098 full proposals were submitted. 

The overall success rate is slightly lower than 9.0%. 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 ~4-6%.

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 March 2022, EIC Accelerator Results June 2021 

Winners by Funding Type and Country 

The top 3 countries home to the most winners are France (16), Israel & Germany (12) and Spain (11).

Source: Data published by the EIC

Source: Data published by the EIC

Blended Finance Winners by Country 

For the October 2021 cut-off, 65 companies have been awarded blended finance. Fifteen start-ups in France successfully secured blended funding from the EIC. This represents 23% of the 65 successful applicants. 31% of the successful start-ups are based in the France & Benelux region. In the DACH region, there are 9 winners, representing 14% of successful applicants who will receive blended funding. In the Nordic countries, there are 10 winners (15%).

Source: Data published by the EIC

Source: Data published by the EIC

Total Blended Finance

Our data shows that a total of €552 million was awarded for this call, which is almost double the amount awarded (€285 million) in the June 2021 call. The top 3 countries that have secured the most blended funding are France (22%), Israel (19%) and Spain (15%).

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 €8.5 million in grant and equity funding. The median amount of funding was €7 million.

Eleven Israeli firms won an average of €9.5 million. Five Dutch start-ups received an average of €10.9 million in blended funding. Eight Spanish and eight German companies received an average of €10.4 million and €7.3 million in funding, respectively.

Source: Data published by the EIC

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

Resources

1. https://eic.ec.europa.eu/system/files/2021-12/EIC%20Accelerator-October%206%20Cut%20Off_0.pdf
   
2. https://eic.ec.europa.eu/news/largest-ever-funding-round-european-innovation-council-accelerator-99-innovative-companies-set-2021-12-16_en