The EIC Accelerator (previously know as SME Instrument) is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services.
The EIC Accelerator supports high-risk, high-potential small and medium-sized enterprises and innovators to help them develop and bring onto the market new innovative products, services and business models that could drive economic growth.
Selected companies receive funding and optional equity and are offered business coaching and mentoring to scale up their innovation idea. They get extra acceleration services to connect with investors, corporates and likeminded entrepreneurs.
With this instrument, innovative companies can receive a maximum of € 2.5 million in subsidies and optionally apply for equity. The total budget for this call in the last round was € 314 million.
According to RVO ( Netherlands Enterprise Agency) the 181 entrepreneurs with the highest scores were interviewed. Only 15 enterpreneurs were Dutch participants. The project application of 9 entrepreneurs were awarded. This makes the Netherlands the country with the largest number of winners. The Dutch winners jointly received € 30.4 million in financial support, of which € 18.26 million in subsidy and € 12.17 million in equity. The Netherlands Enterprise Agency supported all these winners during the application process
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