51 companies have been selected to receive European Innovation Council (EIC) Accelerator funding, combining grants and equity, following the second 2023 cut-off in March.
The companies were selected in a highly competitive process, in which 139 companies were interviewed by juries of experienced investors and entrepreneurs, out of a total of 551 proposals submitted to the call.
The selected companies will together receive €260 million of funding in a combination of grants and equity investments provided by the so-called ‘EIC Fund’.
The selected companies have a geographical spread spanning 17 countries, including the UK with five successful applicants eligible to receive the grant element only. The UK does not participate in the EIC Fund and thus, UK companies are not eligible to apply for the equity part of the EIC Accelerator scheme and are required to secure it elsewhere.
The next cut-off date for this scheme is 4 October 2023.
Further information about the EIC is available in UKRO’s dedicated factsheet (link in the ‘Related content’ section).