EIC Accelerator - Board Statement on CEE participation. Implications for 2024
The EIC Board released a statement, aiming to double the participation of widening countries (Central-Eastern Europe) in EIC programmes from below 8% to at least 15%.
EIC's New Participation Targets for Widening Countries. The EIC Board has set an ambitious target: to bolster the participation of widening countries in EIC instruments to a commendable 15%, a marked rise from the existing figure of 8%. This move stems from a conviction that, beyond the borders of the traditional powerhouses, lies a reservoir of untapped potential brimming in the widening countries.
Efforts & Outcomes Commitment to this cause isn't new. Various endeavours, like the “Hop On” scheme, have been initiated to augment participation from these nations. The fruits of these labours are evident. EIC Accelerator's Step 1 applications from widening countries saw an increase from 16% in 2021 to 21% in 2022. Similarly, their participation in Step 2 applications swelled from 11% to 14%. However, a disparity persists. In 2022, widening countries received a mere 8.5% of the total EIC Pathfinder funding and 7.1% of the EIC Accelerator funds. It's noteworthy that seven of these countries have yet to mark their presence in the Accelerator.
The Road Ahead Post careful examination of the existing scenario, the EIC Board has proposed a slew of urgent measures. These encompass the enhancement of EIC-related information dissemination, introduction of dedicated training modules, and measures to rectify potential biases. A significant step in this direction is ensuring that widening countries contribute a minimum of 30% to the evaluators and jury members pool. Read more here.
Winnovart carried out a thorough study on the CEE region within the scope of EIC Initiatives from expanding regions and uncovered the following significant statistics.
Overview 2014-22
Between 2014-2022, 489 companies were successful in applying for funding from Europe's flagship EIC Accelerator programme (previously called SME instrument under Horizon 2020). €251 million were awarded in the form of grants, equity investments or a combination of the two: blended finance.
CEE-based firms represent 8.4% of the successful applicants to this programme. 4.9% of the total funding awarded has been won by CEE-based firms.
Reach out to us for more insights. At Winnovart, we can support you with grant-funding advisory, access to private investors, as well as direct investments.
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