The 5th of December of 2019 the first results of the new EIC Accelerator Pilot (October 2019 Cut-off date) were published. The EU Commission informed that a total of 75 companies were selected as successful beneficiaries of the programme, which awards in this round more than 278 million euros.
The Call received a total of 1,852 applications. These applications were divided in:
- 425 “Grant-Only” applications: applications that request financial support in the form of a grant.
- 490 “Blended Funding” applications: applications that request financial support both through grant and equity.
- 937 “Grant with consent” applications: applications that request financial support in the form of a grant, but that would be open to equity as well in case the EU Commission considered “Blended Funding” a better option for the proposal.
of the 1,852 companies that applied passed to the interview phase: a total of 189 companies were invited to pitch in Brussels.
- 35 “Grant-Only” proposals passed to the interview phase: 8.2% 8.2%
- 53 “Blended Funding” proposals (Grant+Equity) passed to the interview phase: 10.8% 10.8%
- 101 “Grant with consent” proposals passed to the interview phase: 10.8% 10.8%
Success Rate - From the 1,852 applications, 75 companies resulted beneficiaries.
- 15 “Grant-Only” proposals awarded: 3.5% 3.5%
- 19 “Blended Funding” proposals (Grant+Equity) awarded: 3.9% 3.9%
- 41 “Grant with consent” proposals awarded: 4.4% 4.4%
From the 41 successful Grant with Consent applications:
- 21 were awarded the “Grant-Only” option.
- 20 were awarded the “Blended Funding” option.
Thus, in total, the final numbers are:
Grant-Only projects awarded
Blended Funding projects awarded
Most awarded countries
Awarded companies are innovative and disruptive start-ups and SMEs from across Europe:
On the one hand, in this round the most awarded companies for grant-only applications came from Switzerland and Germany.
On the other, France and Israel emerged as the most relevant countries for blended funding (grant + equity) successful applications.
Comments from EU representatives
“(…) such a high demand from Europe’s start-ups and SMEs confirmed that the European Innovation Council is filling a gap in funding, and that it was right to set it up as a fully-fledged initiative under the next EU budget”
In this regard, the EU also commented that it has signed an agreement with the European Investment Bank Group to set up an “EIC Fund” to manage the equity investment of the EIC Accelerator.
Comparison with previous Calls
The EIC Accelerator Call is the updated continuation of the previous EIC SME Instrument Call, which also awarded many innovative companies and projects.
Below is a comparison between two charts:
(1) The number of companies awarded per country in the last EIC Accelerator Call (cut-off date 9 October): this Call offers financial support through equity and grant funding.
(2) And the average of the number of companies awarded per country in the previous 6 Calls (since the EIC SME Instrument Phase 2, 10 January 2018 cut-off date): financial support only through a grant.
To sum up:
- The “Grant with consent” option is the preferred option by applicants.
- There is not a clear higher success rate of a funding option over the others: “Grant-Only”, “Grant with consent” and “Blended Funding” applications show a success rate of around 4%.
- This new Programme changes significantly the tendency on the countries most awarded: Spain and Italy lose the podium and leave room to countries such as Switzerland or Israel.
Check here a full responsive infographic on the first results of the EIC-Accelerator
Next Deadlines & results
The 8 of January of 2020 closed a deadline of the EIC Accelerator Pilot and the next one is scheduled for the 18 of March. We will keep you posted on its results!
If you want to know more on the deadlines for the main EU programmes for the agri-food sector for 2020, check our post: “2020 EU Funding Calls for innovation”