Deep Tech Start-up Competition for EIC Accelerator with record low 3.87% success rate

The European Innovation Council (#EIC) has concluded its 2023 #funding cycle by selecting 42 companies from a competitive pool of 1083 #proposals, awarding up to €285 million in combined #grants and #equity #investments. Heartfelt congratulations to the amazing #deeptech companies and their consultant teams, well done! Here you can find the full list of winners.

This selection process emphasizes the EIC's strategic approach to fostering innovation across Europe, with a focus on blended finance to maximize investment impact. The support mechanism extends beyond financial aid, offering access to Business Acceleration Services to ensure companies can scale effectively.

My takeaway message from the again extremely low success rates this year, is that besides the high #competition, companies aiming at #substantial funding of 1-2, up to 2.5 million grant first and up to 15 million blended finance, still aren't investing enough time, effort and budget to secure the best support, and get the best out of their idea in order to significantly increase their success for EIC funding. To get funded, especially under this funding scheme, excellent #technology and great #leadership simply aren't enough. You need to make sure that you work with highly experienced and #successful grant writers and strategists to position your proposal, and invest in their support, as well as in your pitch training. I am sure many more companies and great, impactful ideas would be successful when they considered all the factors and they would tackle funding strategically instead of trying to play the "numbers game". We at InnoGrant have a personalized, tailored, and strategic approach to your funding endeavors. We look at the company, we identify the #gaps and #bottlenecks, your #resources and #capabilities before even entering into #collaboration. Then, we build a #strategy to #maximise your #success. Apart from strategy development and landscaping as well as matching of the right funding instruments to your technologies, we also take execution off your shoulders as needed. We do not sort out grant writing to others, we take your company into our hands, to provide you with our best knowledge in funding #acquisition in the DACH, EU, and UK programmes, as well as private fundraising once you are #VC ready.

Submitting an application for an EIC grant involves a rigorous and detailed #process, requiring applicants to demonstrate #innovation, #impact, and a feasible risk management plan. This complexity, along with the highly competitive nature of the funding program, is why grant consultants offering high-quality services and boasting high success rates typically do not operate on a success-fee-only basis. Crafting a #winning proposal demands a significant investment of time and expertise to navigate the intricate requirements and stand out among numerous high-caliber submissions. Consultants, therefore, often seek some form of upfront payment to mitigate the substantial risk and effort involved in preparing submissions that meet the EIC's stringent criteria for excellence and innovation.

In our model for public funding, we are committed to getting you funded and put our best efforts for you to succeed. Therefore, we operate with a combination of an up-front fee and a success fee depending on the actual funding. This model ensures the highest #quality and #commitment from both sides. ?

EIC November 2023 cut-off results