EIC Fund - Fundraising History of EIC beneficiaries

Written by Doru-Cristian Coretchi | September 13, 2024

Does the European Innovation Council (EIC) target the right company profiles with its flagship funding programme?

We are constantly analysing if the EIC Accelerator/ EIC Fund - EC's flagship innovation funding programme succeeds in identifying European outliers and overseen game-changing innovators OR it supports companies already funded by private investors. This research looks into the fundraising backgrounds of the beneficiaries of the programme.

The preliminary findings show that most EIC Accelerator/ EIC Fund grants & investment beneficiaries have successfully raised private investment prior to their EIC funding. While this is not shocking, this may be considered contrary to the spirit of a public funding programme and can raise the question about targeting the right company profile.

Introduction

These days there are more grant and innovation funding programmes than ever before, with central and regional governments taking more action to spur scientific innovation. These funding programmes aim to bridge the financial gap for start-ups by providing founders with access to capital, expertise and business mentoring services. Yet, it appears that some programmes are 'bridging this gap' better than others.

Our research focused primarily on the profiles of the funding recipients of these programmes. Although most public funding programmes publish all information for each project, there were some exceptions. Where there was limited information, we have provided a disclaimer.