Library FAQ
What leverage has EIC Fund investment achieved?
Public investments through the EIC Fund have so far leveraged over €3.5 of additional private investment for every euro invested by the EIC (an increase from €3.1 under the EIC Pilot).
What priorities did the EIC Board identify for 2024?
The Board’s four 2024 priorities are strategic excellence, securing a cohesive innovation system, promoting optimal access to excellence across all EU regions, and investment excellence to crowd in public and private funding for deep tech.
What support does the EIC Accelerator provide to companies?
It offers a single application for grant and equity, due diligence by the EIB, access to Business Acceleration Services, grants up to €2.5 million and equity up to €15 million, and is open to start-ups and SMEs across all technology fields.
Which technology areas does the EIC prioritise?
Key areas include advanced materials, artificial intelligence, biotechnologies and biomanufacturing, energy storage and battery technologies, hydrogen, quantum technologies and semiconductors.
Who is the EIC Board President and when did they take office?
Michiel Scheffer is the first-ever full-time President of the Board of the EIC; he took up the post on 1 June 2023.
How are investment elements incorporated into the Accelerator contract?
Once an investment is concluded, elements related to it are attached to the Accelerator contract by an amendment reflecting the agreed investment amount, instalments, milestones or deliverables and any agreed changes to the action; other investment documents r...
How do companies apply for the EIC Accelerator and get selected?
Candidate companies apply through public calls published by the Commission. EISMEA collects and evaluates proposals; the Commission selects actions and awards an indicative EIC blended finance amount which may be grant only, grant first with potential investme...
How is a 'qualified investor' defined?
A qualified investor has the capacity to validate market and technology prospects, concludes investments on market‑compliant terms, is fully aligned with the EIC Fund, and has no other motives; qualification is assessed case‑by‑case by the EIC Fund.
How is 'deep‑tech' defined in the guidelines?
Deep‑tech is technology based on cutting‑edge scientific advances and discoveries, characterised by the need to stay at the technological forefront through constant interaction with new lab ideas and results; it is distinct from 'high tech' which refers mainly...
What are co‑investors and what leverage does the EIC Fund seek?
Co‑investors invest alongside the EIC Fund. When investing direct equity, the EIC Fund will systematically seek co‑investment at least on a matching 1:1 basis and seek a leverage effect of 1:3 throughout the investment horizon.
What are the guiding principles for the investment component of EIC blended finance?
Principles include focusing on single economic entities (SMEs and small mid‑caps), crowding‑in private capital (aiming to multiply investment), tailoring terms to company needs, creating value via mentors and ecosystems, monitoring and supporting follow‑on rou...
What are the main steps of the EIC Fund investment process?
Selected proposals are channeled to the EIC Fund for initial assessment and categorization (Step 1); financial due diligence and KYC are performed (Step 2); the EIC Fund examines due diligence and structuring (Step 3); the EIC Fund decides to approve or reject...
What are the main tasks of the EIC Fund?
The EIC Fund is tasked with overall due diligence and implementation of the investment component, raising awareness to leverage co‑ and alternate investments, and managing investments and exits in the interest of the beneficiary and the EU.
What does EIC Accelerator support consist of?
Support consists of EIC blended finance, a mix of grant and investment. For small mid‑caps it may consist only of an investment on a co‑investment basis.
What is an 'alternate investor'?
An alternate investor is an investor that shows immediate interest in providing the full investment into an EIC candidate company.
What is the EIC Accelerator?
The EIC Accelerator is an EU initiative under the European Innovation Council that provides blended finance to help breakthrough and high-risk innovations bridge the 'Valley of Death' and reach commercialization and scale-up.
What is the geographical scope and stance on technological sovereignty?
Eligible companies must be established and operating in EU Member States or countries associated to Horizon Europe. The EIC Fund will seek that supported companies keep most of their value, including IP, in the EU or Associated Countries and will consider the...
What is the legal and managerial structure of the EIC Fund?
The EIC Fund is an alternative investment fund (AIF). Initially the European Commission is the sole investor; later the EIB is envisaged to take over. An external AIF manager (the EIC Fund Manager) manages the fund, and the EIB supports the Fund as Investment...
What role does EISMEA play in the EIC Accelerator process?
EISMEA manages evaluation and selection of proposals requesting EIC Accelerator support, implements the grant component and ensures coordination between the grant and equity (investment) components.
What types of innovation does the EIC Accelerator support?
It supports breakthrough and high‑risk innovations including deep‑tech, radical or disruptive thinking, impactful incremental innovation and social innovation.
Which company development stages are targeted by the EIC Accelerator?
The Accelerator targets Pre‑Seed, Seed and Early‑stage SMEs, and small mid‑caps—typically for‑profit companies often with a strong intellectual property component.
Which policy priority areas may the EIC Accelerator focus on?
While open to all high‑risk innovation areas, the Accelerator may focus part of its support on capital‑intensive strategic technologies in policy priority areas such as Health, the Green Deal (e.g. clean energy, climate action, future mobility), Digital Transf...
Who are the beneficiaries of the EIC Accelerator?
Beneficiaries are innovators, start-ups, for‑profit SMEs and small mid‑caps seeking to bring innovations to market deployment and scale‑up.
Who implements the EIC, the EIC Accelerator and the EIC Fund?
They are implemented under the operational lead of the European Innovation and SME Executive Agency (EISMEA) by delegation of the European Commission.