EIC Q3 2024 Results: 183 Deep Tech Companies Receive €1.9B in Grants and Equity
The European Innovation Council announces its strongest quarterly results to date, with notable gains in quantum computing, synthetic biology, and advanced materials.
The European Innovation Council (EIC) has published its Q3 2024 performance report, confirming €1.9 billion in combined grants and equity investments to 183 breakthrough companies across all EU member states.
Sector Breakdown
The quarter's investments skewed heavily towards hard science and engineering: Quantum Technologies (22%), Synthetic Biology & Biotech (19%), Advanced Materials (16%), Robotics & Autonomous Systems (14%), with the remainder spread across photonics, semiconductors, and space technologies.
Portfolio Highlights
Notably, 14 EIC portfolio companies achieved unicorn status (>€1B valuation) in Q3, bringing the total EIC unicorn portfolio to 71 companies — representing a combined market capitalisation exceeding €180 billion.
The EIC Fund now holds equity stakes in 420 companies and has deployed cumulative co-investments of €4.8 billion alongside private co-investors since 2021.
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