EIC Accelerator: strong performance of engineering and tech-based companies in the latest €350 million funding round

A new set of 47 companies have been selected to receive European Innovation Council (EIC) funding, combining grants and equity, following the third 2023 EIC Accelerator cut-off in June. This cut-off showed a strong performance of engineering and tech-based companies. They account for 25% of the selected companies, close to the traditionally strong performance of health tech companies that make up 30% of the total.

The companies were selected in a highly competitive process, in which 140 companies were interviewed by juries of experienced investors and entrepreneurs, out of a total of 648 full proposals submitted.

The 47 selected companies will together receive nearly €350 million of funding. A large majority of selected companies (68%) will receive blended finance option, which is a combination of grants and equity investments. The equity investments will be made through the EIC Fund. The selected companies have a geographical spread spanning 15 countries, including four widening countries.

Here are some examples of the innovative projects and companies that will receive support:

• Accelera AI from the Netherlands (project Accelera Europa)
• Vsora from France (project Superchip)
• Quside Technologies from Spain (project RPU)

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For more information about EIC, your contact at NCP Brussels is Frédéric Suche