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EIC Fund - Health Statistics v2

 

€1.35 billion in the form of grants, equity investments or blended finance were awarded to firms in the health sector between 2014-2022. 800+ health projects were funded by Europe's flagship EIC Accelerator programme (formerly known as SME instrument under Horizon 2020). 

The EIC Accelerator programme helps high-risk, innovative SMEs and start-ups willing to develop and commercialise new products, business models, and services. The EIC Accelerator programme opens funding and investment opportunities worth over €1.13 billion in 2023. These developments could potentially drive economic growth and influence new markets or disrupt existing European or global markets. 

 

Introduction to the EIC Fund & EIC Accelerator


The European Innovation Council (EIC) Fund is the investment vehicle of the EIC Accelerator programme - the European Commission's (EC) flagship innovation funding programme. With a budget of €3 billion from 2021-2027, the EIC Fund is positioned to be one of Europe's largest deep-tech venture capitalists (VCs) during this period. Through the structure of the fund, a minimum of €3 billion of private funds will be invested alongside the EIC Fund during this period. The EIC aspires to crowd in a further €30bn-€50bn as one of its six strategic goals.

The EIC Fund is a venture capital fund owned by the European Commission established to make direct equity investments in companies with breakthrough technologies. The Fund usually targets minority ownership stakes (10 to 20%). Furthermore, it participates in direct equity investment ranging between €0.5 million to €15 million in innovative companies that pass the rigorous EIC Accelerator selection process. The Fund invests on a matching (1:1) basis alongside a syndicate of lead investors from the private market.

 

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EIC Funding Impact on the Health Sector


Overview 2014-22 (Horizon 2020 & Horizon Europe)

Summary of EICs Impact on Health Infographic 2014-22

Between 2014-2022, 764 companies in the health sector secured funding from Europe's flagship EIC Accelerator programme (previously called SME instrument under Horizon 2020). €1.35 billion were awarded to firms through grants, equity investments or a combination of the two: blended finance. Health-related funding accounted for 26.6% of the total funding awarded during this period.  

*[Figures accurate as of 09/05/2023].

Distribution of Funding

Funding Allocated per Country 2014-2022 (Health only)


 

EIC Funding Impact on All Sectors


Overview 2014-22

Funding Allocated per Sector 2014-2022

The top three sectors that attracted the most funding were: (1) Health €1.4 billion, (2) Engineering and technology €730 million and (3) ICT €570 million. 

 

EIC SME Instrument & EIC Accelerator Pilot 2019-20 (Horizon 2020)

Overview 2014-20

Funding Allocated per Sector 2014-2020

The top three sectors that attracted the most funding were: (1) Health €500 million, (2) ICT €410 million and (3) Engineering and technology  €310 million. 

 

EIC Accelerator 2021-27 (Horizon Europe)

Overview 2021-22

Funding Allocated per Sector 2021-2022 v2

The top three sectors that attracted the most funding were: (1) Health €930 million, (2) Engineering and technology €430 million and (3)  Energy €170 million. 

 

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Investment Strategy


The EIC Fund's investment strategy: 

  • Early-stage equity investments (seed, start-up, scale-up).
  • Equity investment between €0.5 million and €15 million.
  • Possible follow-on investment.
  • EU-wide investments across all types of technologies and verticals.
  • Long time horizon (7-15 years).
  • Minority ownership stakes between 10-20%.

How Winnovart Can Help You


If you need any support (tailored independent EIC Fund analysis & reports, finding a lead investor, discussing the experience of other selected companies and their lead investors, early access to companies selected by the EIC Fund/ deal flow), please reply to this email and/or reach out via the form below. We will be happy to discuss this further. 

We aim to bridge the gap between the stakeholders in the EIC Fund ecosystem. More specifically, we want to support this ecosystem by sharing independent data, insights and statistics about this funding programme, as well as by facilitating and accelerating access to founders and/or private investors.

 

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At Winnovart, it is part of our mission to bridge the gap between stakeholders of the grants-funding market-space across Europe. We believe in the potential of grants to create ecosystems that drive innovation, and growth and reduce disparities between the regions of Europe.  Our aim is to support innovative SMEs, private investors and funding agencies to become part of this ecosystem and make the most of it.

Our presence in Western, Eastern and Northern Europe enables us to create international business cases for our clients, in the context of attractive funding programmes as well as beyond it, by opening up international development opportunities.

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