Library FAQ
What is the role of the EIC Fund in the Accelerator scheme?
The EIC Fund decides on and manages the investment component of EIC Accelerator blended finance; investment decisions are taken by the EIC Fund’s Board of Directors following recommendations by the Investment Committee and guided by the EIC Fund’s Investment G...
What rules apply to EIC Board members and EIC Programme Managers?
They are subject to strict rules concerning conflicts of interest and confidentiality.
Which instruments were not introduced in this EIC work programme and why?
Inducement Prizes, further actions to support procurements of innovation, and the EIC Fellowship scheme were not introduced because further preparatory work is needed to design and implement them.
Which organisations may receive support from the EIC to proactively seek and support applicants?
Support may be foreseen for the European Institute of Innovation and Technology (and its Knowledge and Innovation Communities) and the Enterprise Europe Network.
Who are EIC beneficiaries?
EIC funded projects and companies are the consortia, institutions and/or companies named in an EIC grant agreement or contract to receive EIC funding; in agreements they are called 'beneficiaries'.
Who are EIC expert evaluators and where are they selected from?
EIC expert evaluators are external independent experts who assess funding applications against the work programme criteria and are selected from the Funding & Tender Opportunities portal Expert Database.
How did EIC financing change in 2020?
From 2014–2019 support was grant-only (up to €2.5M); in 2020 the EIC piloted blended finance via the EIC Fund, combining grants with equity investments up to €15M.
How does the EIC Accelerator selection process work?
Start-ups can submit ideas continuously, prepare a full application with EIC coaches and an AI tool for regular cutoffs, undergo an initial assessment by 4 evaluators within 4 weeks and a full assessment by 3 evaluators, then pitch to a jury (up to 6 members);...
How does the EIC connect its beneficiaries with investors?
Through pitching events, a database of more than 400 investors (including VCs and business angels), and collaborations with organisations and stock exchanges; 40 pitching sessions have produced about 40% follow-up discussions between companies and investors.
How many EIC Fund investments were concluded between January and July 2021 and what was their scale?
The EIC Fund concluded 137 investments out of 159 companies recommended for equity support, representing over €600 million of investments across 23 EU countries.
How many start-ups and SMEs did the EIC support between 2014 and 2020?
5,500 start-ups and SMEs in 39 countries received support, with €3.1 billion in grant funding and €9.6 billion in follow-up investments.
What are EIC Seals of Excellence and how prevalent are they?
Seals of Excellence certify high-quality applicants who meet EIC standards but were not funded; more than 3,800 Seals were awarded between October 2019 and December 2020, and over 30 national or regional funding schemes in 15 countries support Seal companies.
What are the Innovation Training Workshops?
Hands-on events for EIC-funded scientists covering commercialisation, leveraging business opportunities, pitching and presentation skills; the first event had 28 participants from 21 projects.
What are the joint EIC–ERC workshops for?
They explore emerging scientific trends and potential applications of scientific breakthroughs, involving beneficiaries from both programmes, investors, and members of the EIC Board and ERC Scientific Council.
What evidence is there that the EIC Fund crowds in other investors?
Of the first 47 investment agreements signed, more than half attracted additional investors, bringing total investments to €395.1 million—2.7 times the value of the EIC Fund investments.
What is the EIC Pathfinder Bootcamp?
An intensive business and entrepreneurship course for researchers; nine workshops involved 179 innovators from 90 projects.
What is the EIC Transition programme?
A programme that allows applications from ERC Proof of Concept researchers to help bridge scientific research and innovation communities.
What is the EIT–EIC Fast Track procedure?
A new procedure to enable promising start-ups and SMEs created within the EIT to access the EIC Accelerator selection process rapidly and benefit from EIC Business Acceleration Services.
What is the purpose of the EIC Fund?
The EIC Fund bridges the financing gap for deep-tech companies by providing long-term capital as equity or quasi-equity to start-ups selected by the EIC Accelerator and by crowding in other investors to share risk.
What kinds of companies does the EIC Accelerator primarily support?
Predominantly young and small companies—over half are less than six years old and the large majority have fewer than 50 employees—typically with high growth potential.
What measures has the EIC taken to attract and support female founders?
In 2020 the EIC piloted ensuring at least a quarter of companies invited to final interviews were women-led, increasing women-led supported start-ups to 22% in 2020 (from 15% in 2019); women make up 50% of the jury and 42% of business coaches. In 2021 the Wome...
What support do the EIC Business Acceleration Services provide?
Tailor-made support from world-class coaches, concrete business tools and training sessions to help early-stage beneficiaries move from lab to market.
Which organisations does the EIC collaborate with to connect investors and start-ups?
The EIC collaborates with organisations and stock exchanges such as Nasdaq, Euronext, Innovate UK and Bpifrance.
Which sectors received the largest share of EIC Fund-selected companies in early 2021?
Health received the largest share (28%), followed by engineering and technology (23%), ICT (9%), Energy (8%) and Biotechnology (8%).