The European Innovation Council (EIC) supports European innovators in transitioning their ideas from the lab to the market. Thanks to its “smart money”, the EIC is bridging the critical investment gap in early-stage innovation and makes market-creating innovation easier in Europe. The Deep Tech Europe Report focuses on the results and impacts of its legacy programmes (SME Instrument and FET) and reveals the ins and outs of the EIC Accelerator and EIC Pathfinder funding schemes. Discover below the key numbers from the EIC portfolio in 2020.
€5 billion on follow-up investments
The amount of private investments raised by companies having received EIC funding is an important indicator of their market validation potential. Until May 2020, EIC Accelerator portfolio companies had attracted over € 5.3 billion in private funding (equity, debt, M&A, IPOs).
Employee numbers doubled in 2 years
On average, EIC-supported companies have doubled their number of employees in the last two years. Considering the data available, around 66% of companies had their teams grow in size. The average increase was 108% over 2.2 years (24 employees per company).
34% of selected companies are women-led
Since May 2020, the EIC is guaranteeing that the pool of the best applicants that are passing all the quality thresholds and being invited to interviews will be composed of at least 25% of companies led by women CEOs (or equivalent positions). This measure has already produced very concrete results. Out of 64 companies selected in May, 34% are led by women!
3702 scientific publications
Scientific publications are one of the earliest results of work in the research world. EIC Pathfinder portfolio (2014-2019) has produced a large number of publications. Over the 3700 publications, 2662 appeared in peer-reviewed journals.
46 patent applications, 14 already awarded
Patents provide yet another way to measure innovation performance. So far, the EIC Pathfinder portfolio has produced 46 patent applications, and 14 have already been awarded. 76% of Pathfinder innovations concern new or emerging markets.
More than just funding
The European Innovation Council support goes far beyond funding and offers to innovators access to the best, tailor-made Business Acceleration Services. By working with the EIC, corporates, procurers, investors and other partners can access 5700+ quality-stamped companies and more than 430 innovation-driven research teams from all around Europe.
The 2020 report offers first-hand insights into growth trends and profiles of the beneficiaries funded under the European Innovation Council.
- Publication date
- 1 March 2021
- Directorate-General for Research and Innovation