EIC Accelerator: a record of 1 211 projects submitted and €8.8 Bn requested for October 2024 call

With 1 211 applications submitted to the October 2024 call, the EIC has recorded the highest number of applications to its EIC Accelerator programme since its creation, it says on 10/10/2024.

The total funding requests for proposals amount to €8.875 Bn. "Blended finance continues to be in high demand - 898 companies (74% of total applicants) requested grants combined with equity investments", says the EIC.

By comparison, in November 2023, €7.3 Bn had been requested by the 1083 applications submitted. 61% requested blended finance.

The aim of the EIC Accelerator is to help start-ups and SMEs develop and scaleup their innovations with the potential to create new markets or disrupt existing ones.

Proposals come from 35 countries, with the largest number coming from Germany, Israel and France. Companies headed by women CEOs submitted 32% (17% in November 2023) of the total proposals.

Selection decisions for the winners are expected by the end of February 2025. Those selected for equity support will be passed to the EIC Fund for investment decisions.