EIC-supported Deeptech Companies (Jolt Capital)

Summary

• Jolt.Ninja identified approximately 233 Deeptech companies supported by the European Innovation Council (EIC), of which 95% had fewer than 100 FTEs as of 2023 and 48% were based outside the UK, Germany, and France.p.5
• Late-stage VC and growth equity transactions represent approximately 40% of all capital invested between 2010 and 2020, and over 80% in the most recent period.p.9
• Computing & AI led historical fundraising with €585m raised, followed by Optoelectronics & Semiconductors with €501m and Life Sciences with €299m.p.10
• EIC-funded companies hold +800 active patents, with medium-sized enterprises (31-100 FTEs) representing 36% of all patents filed.p.15
• Bpifrance and EIT Health emerged as the most frequent co-investors in EIC-supported deals, participating 45 times each.p.22

Key insights

1. Small and micro-sized enterprises with 1 to 30 FTEs represent 59% of all identified EIC Deeptech companies.p.5
2. Late-stage deals accounted for only 9% of deal volume on average from 2010 to 2020 but captured the vast majority of capital invested in recent years.p.9
3. Energy & Cleantech EIC companies raised 8,1x more capital in 2023 than their counterpart cohort of similar companies.p.12
4. EIC-funded companies accounted for 60% of top 5% ranked patents according to the Jolt Patent Score in 2021, compared to less than 30% in 2010.p.17
5. Medium-sized companies account for 55% of the EIC cohort companies possessing patents in the 95th percentile of patent quality.p.18
6. Jolt Capital screened 56% of EIC-supported companies that hold intellectual property ranked in the 75th percentile of the Jolt Patent Score.p.20