Library FAQ
How many companies and projects has the EIC supported?
From 2014–2021 the EIC supported over 1 600 startups and SMEs, more than 500 technology projects, 503 Pathfinder research projects and 55 Transition projects.
How many investment agreements has the EIC Fund signed and what leverage has it achieved?
The first EUR 260 million of EIC Fund investments resulted in 92 investment agreements; 48 matured investments leveraged just under EUR 500 million in co-investments, a leverage of 2.6 times the EIC Fund equity investments.
How many jobs have EIC portfolio companies created?
EIC portfolio companies created a total of 6 800 jobs following receipt of EIC support.
How many Unicorns and Centaurs has the EIC supported?
EIC-supported companies have helped generate 12 deep-tech Unicorns and 112 Centaurs.
What budget does the EIC have?
The EIC has a budget of over EUR 10 billion under the Horizon Europe Programme (2021–2027). Since 2014, EUR 5 billion has been provided through the EIC and its predecessor programmes.
What forms of finance has the EIC Fund used?
The EIC Fund has used equity investments and convertible loans; 44 investment agreements took the form of convertible loans acting as a bridge to next fundraising rounds.
What funding does the EIC Accelerator offer?
The Accelerator offers non-dilutive grants of up to EUR 2.5 million plus equity of up to EUR 15 million; a single application covers both grant and equity.
What impact has the EIC portfolio achieved in valuation and follow-on investment?
EIC-supported companies have a combined portfolio valuation of over EUR 40 billion and have attracted over EUR 10 billion in follow-on investments.
What is ‘grant-first’ support under Horizon Europe?
‘Grant-first’ is a modality where companies receive grant funding to mature their ideas into an investible proposition; in 2021, 47 companies received grant-first funding with an expectation of raising funds within 18–24 months.
What is the EIC’s ambition for crowding in private investment?
The EIC Fund aims to leverage EUR 10 billion of its own resources to crowd in EUR 30–50 billion from private investors, becoming the largest early-stage deep-tech investor in Europe.
What is the European Innovation Council (EIC)?
The EIC is a flagship initiative of the European Commission that identifies, develops and scales up breakthrough deep-tech innovations, with a mandate to support each stage of the innovation chain.
What is the role of the EIC Fund?
The EIC Fund is the investment arm of the Accelerator that provides seed to early-growth equity or convertible finance for startups and SMEs selected through the Accelerator evaluation.
What measurable company impacts have followed EIC support?
Within three years of receiving EIC support, companies experienced on average 44% employment growth, 109% increase in intangible assets, 67% increase in tangible assets, and 140% increase in liquidity.
What programmes make up the EIC?
Key EIC instruments are Pathfinder (deep-tech R&D), Transition (lab to business), Accelerator (startup development and scaling, grants and equity), the EIC Fund (early-stage investments), Seals of Excellence, and Business Acceleration Services.
Who governs and manages the EIC?
An independent EIC Board of innovators, venture capitalists, business executives and academics advises on EIC strategy, while an in-house team of EIC Programme Managers provides expert guidance across technology domains; investment decisions are managed by an...
Can you give an example of an EIC‑supported COVID‑19 solution?
ADVITOS GmbH (Germany) received €0.9 million grant funding and €14.4 million investment for a multi‑organ support device for severely ill COVID‑19 patients; the EIC Fund contributed 50% of the investment volume in that round.
Does the EIC operate across all EU Member States?
Yes; the EIC has supported start‑ups and SMEs from all 27 EU Member States as well as a number of third countries.
How does the EIC contribute to societal challenges like the green and digital transitions and COVID‑19?
The EIC supports deep tech innovations addressing the twin green and digital transitions, health challenges and SDGs; in 2020, 90.5% of EIC Accelerator portfolio companies developed innovations addressing at least one SDG, and many start‑ups worked on COVID‑19...
How does the EIC measure success in crowding in private investment?
EIC Accelerator companies have raised €9.6 billion in follow‑on investments, nearly three times the €3.8 billion of public funding invested, in line with the EIC Board target multiple of 3–5; the EIC Fund’s first 24 equity investments attracted €395.1 million...
How many start-ups, SMEs and research projects has the EIC supported?
The report states the EIC has supported over 5,000 start‑ups and innovative SMEs and over 400 cutting‑edge research projects; since 2014 it has funded around 5,500 start‑ups and SMEs and over 400 research and innovation projects.
How much has the EIC Fund invested so far?
The EIC Fund has approved investment decisions for over €600 million in 137 companies (figures reported for January–July and across 23 EU countries).
What are the EIC’s main funding schemes?
The three main schemes are EIC Pathfinder (advanced high‑risk research), EIC Transition (turning research results into high‑impact innovation) and EIC Accelerator (support for ambitious companies to develop and scale innovations).
What are the main impacts reported from the EIC Pathfinder?
Since 2014 the Pathfinder supported over 400 trans‑national research teams involving 3,000+ partners and reported 827 innovations, 58 patents, 475 collaborative research projects and 1,842 high‑impact scientific publications.
What budget and institutional changes accompanied the EIC launch in 2021?
The 2021 launch involved a budget of over €10 billion, creation of the European Innovation Council and SMEs Executive Agency (EISMEA), a ramping up of the EIC Fund, and appointment of an independent EIC Board and President.