Since the last announcement in November 2022, the European Innovation Council Fund (EIC Fund) has invested a total of €331 million in 42 new deep-tech enterprises. Investment agreements have already been signed by 13 companies. A new type of computer vision software and robotics technologies for orthopaedic surgeons, visual search technologies for businesses and industry applications, breast self-reconstruction with patients’ own tissue, innovative photonics, improved food production with reduced emissions, and a first miniaturised universal gas analyser for all renewable gases are among the pioneering start-ups that are poised to bring ground breaking innovations to citizens and businesses. 

As the EIC Fund is now fully operational, this represents a tremendous advancement. The EIC Fund has made a total of 77 investments totalling over €521 million in deep-tech firms since the appointment of an external fund manager in September 2022. These investments have helped high-risk start-ups launch and expand their unique ideas in key European markets. 

For start-ups and small businesses in Europe, the EIC Fund, the investment component of the EIC Accelerator, is a crucial source of capital. The EIC Accelerator grant financing of up to €2.5 million is supplemented by equity investments, which range from €500,000 to €15,000,000 per firm (higher in warranted circumstances). 269 out of the 378 chosen enterprises under Horizon Europe have so far signed their grant agreements. By signing grant agreements with chosen companies within 4-5 months, the EIC is now meeting the goal set by the EIC Board.