The European Commission received approximately 4,000 applications for the 20 March deadline of the European Innovation Council (EIC) Accelerator Pilot programme - more than double the usual amount.
The upsurge is partly due to the call for ideas to help tackle the coronavirus outbreak; over 1000 startups and small and medium-sized companies with innovations relating to preventing the impact and spread of the coronavirus applied.
Companies selected to receive a share of the €164 million allocated to this funding round will be decided by an independent jury of experts, investors and entrepreneurs, following an initial remote evaluation and live interviews from the 4 to 8 May 2020. Companies selected for EIC support in this funding round will be announced later in May.
Around a quarter of companies requested blended finance (grant and equity) support, with a total equity request of just over €4 billion. A large number of applications were received in the field of health, many of which are Coronavirus related, as well as large numbers in the fields of ICT, engineering and technology. Applications came from companies based in 45 countries, with those based in Italy, Germany, Spain and Israel submitting the highest number of applications.