According to lead investor Jean-David Malo, the new investment vehicle, called EIC Accelerator, will focus on emerging technologies, especially in the early stages when founders may struggle to raise money.
The acceleration fund will allow the European Union to become a shareholder in companies that will receive its investment. The EU could reap profits if the startup goes public or is sold, which promises to replenish its innovation budget of €10.1 billion.
The program has been piloted since autumn 2019, with initial investments in 137 companies for a total of €600 million.
You can apply for funding from the EIC Accelerator at any time through the EIC platform. You’ll need a video presentation, slide presentation, and answer a short set of questions about your innovation and your team.
You will usually receive feedback within 4 weeks. If your application meets the basic criteria for EIC Accelerator funding, you will be asked to prepare a full application to be submitted by one of the Accelerator Open or Accelerator Challenge periodic funding deadlines.
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