The European Innovation Council (EIC) selected 68 companies for funding, combining grants and equity, following the first in 2024 EIC Accelerator cut-off in March.
Togehter, the selected companies will receive an estimated €411 million in funding, of which up to €165 million in grants and an estimated €245 million in equity. Almost all selected companeies (96%) will receivethe full blended finance option, which is a combination of grants and equity investments. The selected companies have a geographical spread spanning 17 countries, including 5 proposals coming from widening countries. 21% of selected companies are led by women.
The companies were selected in a highly competitive process. From a total of 969 companies that submitted a full proposal, 347 companies were interviewed by juries of experienced investstors and entrepreneurs. The jury then selected the 68 best companies to receive funding. A further 273 applications that were assessed positively by the EIC jury, but for which there was insufficient funding available, will be awarded a Seal of Excellence.
The March cut-off had an increase of companies coming from the ‘Plug In’ scheme. It allows funding bodies managing certified national/regional programmes to submit projects from their portfoloi directly to the full application stage of the EIC Accelerator.