A new set of 32 companies have been selected to receive European Innovation Council (EIC) funding, combining grants and equity, following the first 2023 EIC Accelerator cut-off in January. They were selected out of applicants that applied for the Accelerator Open call. This first cut-off in 2023 did not include the EIC Accelerator Challenges calls.
40% (13 of the 32 companies) have a female CEO, CTO (Chief Technology Officer) or CSO (Chief Scientific Officer), which is the highest share to date.
The companies were selected in a highly competitive process in which juries of experienced investors and entrepreneurs interviewed 159 out of 476 applications. The 32 selected companies will receive nearly €196 million of funding in a combination of grants and equity investments. The equity investments will be made through the EIC Fund. The selected companies have a geographical spread spanning 14 countries. 94% of recommended funding is for beneficiaries in EU Member States, of which 17% is for widening country applicants.
While the blended finance (grants combined with equity investments) recommendation remained broadly the same as in recent cut offs (53%), grant first recommendations rose again (38%) with grant only moving in the opposite direction (9%).