28 Feb 2024
EIC selects 42 companies for funding under recent EIC-Accelerator cut-off
The European Innovation Council (EIC) has selected 42 companies for funding, combining grants and equity, following the final 2023 EIC Accelerator cut-off in November. The companies were selected in a highly competitive process, in which 242 companies were interviewed by juries of experienced investors and entrepreneurs out of a total of 1083 full proposals submitted.
The 42 selected companies will together receive up to €285 million in funding. A large majority of selected companies (62%) will receive the blended finance option, which is a combination of grants and equity investments. The equity investments will be made through the EIC Fund as the dedicated investment fund for EIC Accelerator companies. The selected companies have a geographical spread spanning 15 countries, including three widening countries.
A further 193 applications that met all the criteria at the remote evaluation stage and that were assessed positively by the EIC jury, but where there was insufficient funding available, will be awarded a Seal of Excellence to help them find alternative sources of funding.
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