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  • 71 Groundbreaking Companies Selected Under the EIC Accelerator

    by Amy Murphy | Feb 17, 2025 | Reading time: 3 minutes | Blog

    The European Innovation Council (EIC) has announced the selection of 71 innovative companies for funding under the EIC Accelerator, marking the most competitive round since its launch under Horizon Europe. This latest round showcases Europe’s commitment to fostering groundbreaking technologies across various sectors, with a total of €387 million allocated in grants and equity.

    Key Highlights of the Funding, Sectors, and Innovation Trends EIC Accelerator October 2024 Selection

    Overview of EIC Accelerator Winners

    • Total Companies Funded: 71
    • Countries Represented: 16
    • Major Funding Recipients: Germany (21%), Netherlands (16%), Sweden (10%), and Spain (8%). Notably, France saw a decrease in representation (7%), while Israel made a significant comeback with 6% of selected companies.
    • Funding Types:
      • Blended Finance (Grant + Equity): ~70%
      • Grant Only: ~20%
      • Equity Only: ~10%

    Industry & Technology Trends

    The selected companies span a wide range of innovative fields, with some clear trends emerging:

    • Deep Tech: Quantum computing, advanced semiconductors, and photonics technologies.

    • AI & Data: Machine learning, AI security, and synthetic data generation.

    • Healthcare & Biotech: Medical devices, gene therapy, and drug discovery platforms.

    • Energy & Sustainability: Green hydrogen, carbon capture, energy efficiency, and sustainable materials.

    • Space & Aerospace: Satellite communications, microgravity experiments, and space cargo solutions.

    Emerging Trends

    The EIC STEP Scale-Up Call is open to:

    • Quantum Leap: Increasing interest in quantum computing and AI chips.
    • AI in Biotech: A notable rise in startups leveraging AI for accelerated drug development and precision medicine.
    • Sustainability Focus: Strong push for innovative solutions in manufacturing, food tech, and agriculture aimed at sustainability and carbon reduction.

    Company Size & Funding Insights

    • Company Sizes:

      • Startups (<50 employees): Approximately 60% of selected companies.

      • Scale-ups (50–200 employees): 30%.

      • Larger Companies (>200 employees): 10%.

    • Capital Raised Before EIC Funding:

      • 40% of companies had raised between €2M and €10M.

      • 35% were early-stage with less than €2M raised.

      • 25% were high-growth scale-ups with over €10M raised.

    Women in Leadership

    Approximately 21% of the selected companies have women in leadership roles, such as CEO, co-founder, or other C-level positions. This trend is more pronounced in the biotech and medtech sectors, where female leadership is traditionally higher. However, there remains a gap in deep-tech sectors like AI, quantum computing, and semiconductors.

    EIC Accelerator 2024 Infographic

    What’s Next?

    The next EIC Accelerator cut-off is scheduled for March 2025. If you’re looking to secure funding for your innovative project, contact us to explore how we can support your journey to success. Innovation never stops, and neither do we!

     

    Evolution: Your Strategic Ally for EIC Success.

    At Evolution, we stand as your strategic ally in this evolving EIC landscape. With a proven track record and numerous success stories in EIC funding, our expert consultants will seamlessly guide you through the application process and post-grand project management. Explore our success cases, connect with our experienced team, and let us help you maximize your chances for success in turning your innovation dreams into reality. 

     

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