Template-Type: ReDIF-Paper 1.0
Author-Name: Maria del Sorbo
Author-X-Name-First: Maria
Author-X-Name-Last: del Sorbo
Author-Email: Maria.DEL-SORBO@ec.europa.eu
Author-Workplace-Name: European Innovation Council, Bruxelles, Belgium
Author-Name: Carina Faber
Author-X-Name-First: Carina
Author-X-Name-Last: Faber
Author-Email: Carina.FABER@ec.europa.eu 
Author-Workplace-Name: European Innovation Council, Bruxelles, Belgium
Author-Name: Marco Grazzi
Author-X-Name-First: Marco
Author-X-Name-Last: Grazzi
Author-Email: marco.grazzi@unicatt.it
Author-Workplace-Name: Dipartimento di Politica Economica, DISCE, Università Cattolica del Sacro Cuore, Milano, Italy
Author-Name: Francesco Matteucci
Author-X-Name-First: Francesco
Author-X-Name-Last: Matteucci
Author-Email: Francesco.MATTEUCCI@ec.europa.eu
Author-Workplace-Name: European Innovation Council, Bruxelles, Belgium
Author-Name: Miriam Ruß
Author-X-Name-First: Miriam
Author-X-Name-Last: Ruß 
Author-Email: Miriam.russ@wupperinst.org
Author-Workplace-Name: Wuppertal Institut für Klima, Umwelt, Energie gGmbH, Wuppertal, Germany
Title: Assessing changes in EU innovation policy programs: from SME instrument to EIC accelerator for start-up funding
Abstract: A novel analysis of the European Innovation Council (EIC) Accelerator pilot is presented, marking the first extensive examination of its selection process and the impact of its funding on deep tech ventures, in comparison to its predecessor, the SME Instrument. Utilizing applicant data from both programs, the study assesses the EIC’s effectiveness in targeting firms that align with its objectives of driving breakthrough innovation. The research reveals that the EIC Accelerator pilot attracts younger and smaller firms, in comparison to its predecessor. A significantly higher proportion of applicants are high tech and medium high-tech, indicating a strategic shift towards supporting cutting-edge technologies. Despite this shift, the analysis of funding determinants demonstrates a consistent pattern across both programs, emphasizing the influence of firm size, age, and patent portfolio. Further, a regression discontinuity design analysis is used to estimate the impact of funding during the EIC accelerator pilot on firm-level outcomes, such as patenting, revenue, or employment growth. However, the very recent launch of the program shrinks both the observations and the ex-post window, and due to large standard errors the point estimates are not significant at conventional levels.
Length: 42
Creation-Date: 2024-07
File-URL: http://dipartimenti.unicatt.it/politica-economica-DIPE0037.pdf
File-Format: Application/pdf
File-Function: First version, 2024
Number: dipe0037
Classification-JEL: O3, O31, O32, O38, L25, L26
Keywords: Innovation Policy, Industrial policy, deep-tech, start-up, regression discontinuity, patent, firm growth
Handle: RePEc:ctc:serie5:dipe0037