1 minute read / July 23, 2024
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 2024.
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 investors and entrepreneurs. The jury then selected the 68 best companies to receive funding.
Together, 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 companies (96%) will receive the full blended finance option, which is a combination of grants and equity investments. The equity investments will be made through the EIC Fund, EIC’s dedicated investment arm which attracts other investors to increase the overall investment to over three times the EIC investment on average. 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 equity amount is estimated on the average investments made by the EIC Fund under Horizon Europe following the due diligence process, rather than amounts requested by company
