Four Countries Dominate EIC Accelerator Funding

Four countries got more EIC Accelerator funding than 23 remaining countries combined between 2021-2022, according to a report. The French companies have emerged as the primary beneficiaries, having received €447 million in funding.

So far, the EIC Accelerator funded 391 companies with a total of €2.2 billion. The success rate among the applicants is only 8%.

The fund, which is the largest of its kind for start-ups under Horizon Europe, offers a combination of equity funding and grants to high-risk companies that the European Commission deems worthy of investment.

The European Innovation Council (EIC) oversees the fund and has allocated €2.2 billion to promising start-ups thus far.

While German companies have also fared well, receiving €317 million in EIC Accelerator funding, Israel-based start-ups outside the EU have secured the most significant amount of funding at €163 million.

UK companies, on the other hand, have only received grants, which have likely come from the UK government since the country does not have associate status in Horizon Europe, and the funding does not come from EU coffers.

The research framework of the scheme mirrors that of the rest of the EU, with western European countries dominating and little funding allocated to enhance the innovation potential of central and eastern European firms.

Bulgaria is the leader in this region, having secured nearly €18 million, a small fraction of the funding awarded to start-ups in most western European countries.