From 2024, start-ups will no longer be able to bid for grant-first funding under the European Innovation Council (EIC) Accelerator programme. Instead, this option will be integrated into the programme’s blended finance offer, in a recognition that many more applicants would like to separate decisions about grant funding and equity investment.
The EIC Accelerator supports start-ups and SMEs developing products and services where the risks involved are too high for private investors to provide all the substantial funding required. Grants of up to €2.5 million are offered for innovation activities and up to €15 million in equity investment for market launch and scale up, which comes from the European Investment Bank (EIB).