Strong response to first deadline for funding under the European Innovation Council Accelerator

Since the opening of the EIC Accelerator funding on 9 April, over 2000 start-ups and SMEs submitted short applications on a continuous basis, and 801 of these progressed to submit a full application for funding for the 16 June cut-off of the EIC Accelerator scheme. This is the first cut-off for full applications, and shows a strong demand for EIC funding with a total financial request of €4.85 billion, of which €3.2 billion for equity investment.

The very large majority of the applicants (663) requested blended finance (grant combined with equity investment), while 138 asked for grants without equity. 375 companies applied for the Open call to fund breakthrough innovations in any field of technology and application, while the majority (426) applied for support to develop breakthrough innovations in Strategic Digital and Health technologies (223) or to address the Green Deal challenge (203).

Proposals are now being evaluated by independent experts and the successful companies will be invited to pitch in front of a Jury of investors and business experts during September with results expected in October. Those companies recommended for equity investments will pass directly to the EIC Fund

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