Library FAQ
How many companies have been approved for EIC Fund investment since the Horizon Europe restructure and what are the terms?
201 companies have been approved for investments worth €1.3 billion; 104 companies have signed 110 investment agreements (with further pilot agreements). About 68% received equity and the remainder quasi-equity (convertible loans and SAFEs). The average fundra...
How many unique innovations have EIC research projects generated?
EIC research projects (Pathfinder and predecessors) have generated 1,686 unique innovations.
How much follow-on investment have EIC companies attracted?
EIC portfolio companies have attracted over €12 billion of follow-on investments, primarily from venture capital, corporates and national promotional banks.
What are the EIC Business Acceleration Services (BAS)?
BAS connect portfolio companies and researchers with corporates, investors, buyers, accelerators and venture builders to increase the likelihood of market entry and scaling through tailored support and matchmaking.
What are the EIC’s three core schemes?
EIC Pathfinder (early-stage research), EIC Transition (transforming research results into innovation opportunities), and EIC Accelerator (support to start-ups and SMEs to develop and scale breakthrough innovations).
What challenges for European deep tech does the report identify?
Overall EU investment in deep tech start-ups remains about one third of US levels; European funds are smaller and later-stage rounds above €15 million are limited. More progress is also needed to increase women-led deep tech start-ups and to help companies sca...
What does the full EIC portfolio include beyond Horizon Europe projects?
It includes projects and companies funded under the EIC pilot (2018–2020) and predecessor SME Instrument Phase 2 and Future and Emerging Technology projects since 2014.
What growth impacts have EIC-supported companies experienced?
Based on a subset of nearly 1600 companies, EIC-supported companies averaged 35% employment growth and 68% operating revenue growth in the first two years following receipt of EIC support.
What is the EIC Fund and what investments has it made?
The EIC Fund provides direct equity alongside grants under the Accelerator. It has taken over 200 investment decisions worth €1.3 billion in just over one year, and in the Horizon Europe portfolio supported 100 investment rounds securing co-investments from 28...
What is the European Innovation Council (EIC) and its budget?
The EIC is a flagship European Commission initiative to turn disruptive science into commercial propositions and accelerate deep tech scale-up, with a budget of over €10 billion under Horizon Europe (2021–2027).
What is the role of EIC Programme Managers?
Programme Managers select portfolios of projects for specific Challenges, develop Strategic Plans to coordinate joint activities and stakeholder engagement, and implement and evolve those plans based on new evidence to accelerate research-to-market transitions...
What is the valuation and scale of the full EIC-supported company portfolio?
The EIC-supported portfolio valuation grew from over €40 billion at the end of 2021 to nearly €69 billion (€68.9 billion), including over 150 Centaurs (valuations above €100 million) and 15 companies above €500 million, of which 8 are valued over €1 billion (U...
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...