EIC Accelerator Work Programme post 2024 - EAIC Position Paper

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.

Download

​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.