EIC Accelerator March '23 Data & Stats

The new EICA submission process

Dear Reader, I hope you are well and have been enjoying the summer time. As you probably know already, the submission process for the SA and FA has changed. The "AI" online platform has been discontinued for a more streamlined and user-friendly online platform (SA) and a 50-page pdf document (FA). The 3-minute video, 10-slide deck, pitch deck, annexes and financial template are still included in the submission process. From what I could gather from my colleagues and clients, the new process is considered way better than the cumbersome previous journey on the "AI" online maze. Anyway, in this newsletter I'll present the EICA March 2023 data and stats.

FA > F2F > W

• 551 FAs were submitted vs a current rolling average of 841
• 139 were invited at the F2F interview representing 25% which is slightly higher than the 23% average (this refer to cumulative data)
• 51 companies were selected for funding, or 37% of the invited companies vs 34% current average
• Overall, 9% of the FAs resulted eligible for funding in line with the current 8% stat (cumulative data = 474W/6,080FAs)

Funding Type

• 23 companies were awarded BF, getting 76% or almost €200mn in funding
• 22 companies were GF, receiving 19% - €50mn of funding
• 6 companies or 5% of the winners were GO being allocated €12mn
• In total, 51 companies were selected for a total of €260mn in funding

Call Type | Open vs Challenge

• 42 winners, 82% of the total was in the open call being awarded €224mn - 86% of the available funding
• 9 companies belong to the challenge calls category, representing 18% of the selected winners and 14% of the allocated budget for this cut-off

Ranking by Country

The NL had yet again another strong performance being the #1 in the ranking with 8 winners. The NL is the undisputed leader after the first 2 cut-offs in 2023 with a total of 15 selected companies out of 83, which is a remarkable 18% of the total winners

France got back on the top #3 with 6 winners bringing its total for 2023 at 8 and ranking second in the 2023 raking just below the NL

Israel had a strong performance with 5 winners being all of them BF

• Ireland with 4 successful companies is consistent with its 2023 strong performance so far (quite interestingly I predicted this in my article for?TechIreland?). At the moment, Ireland is third in the overall 2023 ranking with a total of 7 winners and just below the NL and FR

Ranking by amount of funding per Country

• Considering the total amount of funding, IL had a strong performance with €50mn. Let's bear in mind that the 5 selected companies were BF and the average per company is €10mn which is double the €5mn average for this cut-off
• FR received €47mn with an average of €7.8mn per company which is way above the cut-off average
• Even if the NL secured 8 winners, in terms of funding the total was €36mn with an average of €4.5mn per company which is below the cut-off €5mn average. The reason is 5 companies being GF out of 8 total winners
• Quite unusually FI only got 1 GF for €2mn, while IT keeps delivering disappointing results with just 2 winners being GF and collecting even less than the cut-off average

Female-led successful companies

Please note my definition of a female-led company is different from the one used on the official 2023 EIC Work Programme [EIC WP 2023]. In my articles/reports I consider a female-led company a selected EICA company where the CEO is female.

• 6 out of 51 or 12% of the total successful companies were female-led
• €24mn or 9% of the funding was allocated for them
• The average per company was €4mn which was below the €5mn average for this cut-off
• In terms of countries, FR - IL - NL - ES - SE - UK got 1 each

On the next newsletter

I am planning to present the cumulative data up to March 2023 in the September newsletter. I suppose after 7 cut-offs and more than €2bn allocated in funding, EICA data & stats would start outlining insightful trends and provide some useful input to assess what we can expect in the coming years with potentially less available budget. Until then, take care and if you would like to access more EICA data and stats please visit our dedicated page on our?website?and share/comment/subscribe to my LinkedIn newsletter.