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Capstone Business Advisors has joined EAIC!
Capstone is an Irish professional services firm comprising a team of Business Advisors and Accountants with a focus on delivering professional expertise and personalised service. In the words of Sarita Johnston, Director, Business Planning: ”European research and innovation projects require more joined up thinking. Synergies can most certainly be achieved by Capstone Business Advisors Limited and other high-quality consulting services for R&I, joining forces on goals of common interest that will enhance the impact of actions at European level” She added: ”This is the primary reason why we join EAIC today!.” Welcome to Capstone team! Find out more about their services on our website : Capstone - EAIC - European Association of Innovation Consultants Wega Group Oy joins EAIC!
Wega is an independent Finnish energy service and advising company working with renewable energy, energy intensive industry, and transport sectors. Eija Kanto, Wega Senior Vice President and Partner, said “Joining EAIC will help us widen our network and influence the future development regarding co-funding programmes at EU level.” Find out more about their services on our website : here. Today the European Association of Innovation Consultants (EAIC) releases a position paper analysing the EIC Accelerator (EICA) programme's performance and providing crucial recommendations for future work programmes. This document evaluates the November 2023 results against cumulative data, highlighting significant trends and making recommendations to enhance the EIC Accelerator's impact on the European deep-tech ecosystem. Key Findings and Recommendations 1. Declining success rates: The success rate for EICA interviews dropped to 17% in November 2023, resulting in an overall success rate of 4% for full applications. This decline is partly attributed to a preference for large investment components, which has been a consistent trend throughout 2023. 2. Funding distribution: In the last cut-off of 2023, €285 million was awarded to 47 candidates, with a substantial 86.8% allocated to blended financing candidates. This mirrors the annual trend where blended and equity-only financing dominated 84% of the funding. 3. Budget constraints: Severe budget cuts from 2023 onwards necessitate a clearer focus on the types of companies supported by the EIC Accelerator. The position paper suggests that current funding strategies are counterproductive given these constraints. 4. Recommendations: - Refocus on Grant-Only Cases: Prioritize a significant portion of the budget for grant-only projects to foster a transformation in the evaluation mindset and reduce perceived biases towards blended finance. - Limit Equity Requests: For blended finance applications, cap the maximum equity request at €5 million and introduce key milestones to ensure accountability and effective use of funds. The EAIC recommendations aim to enhance the EIC Accelerator's efficiency and attractiveness, ensuring it better supports high-potential, less mature companies essential for Europe's innovation landscape. |
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