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State Aid & EU Funding Expert | Unlocking EU & national funding to accelerate innovative projects
November 8, 2025
The results of the Innovation Fund 2024 (#IF24) are out — and they offer valuable clues about how the EU is rebalancing its decarbonisation support landscape.
With a budget almost halved from IF23 (€4.8B → €2.9B), this call attracted 359 proposals across five topics, with 61 projects ultimately selected.
Here’s what stands out when you look closely at the numbers 👇
🔹 1. Funding is tightening — but targeting is sharper
With half the budget of IF23, IF24 distributed €2.87B across 61 projects, maintaining a focus on capital-intensive decarbonisation and clean tech manufacturing. The Large-Scale topic still dominated in absolute value (€1.26B, 44% of total funding), yet Cleantech Manufacturing emerged as a clear winner — absorbing 27% of funding across 11 projects.
👉 The message is clear: We can’t reach net zero if we don’t own the technologies that get us there.
🔹 2. Success rates reveal where the window is widest
Out of 359 proposals:
Large-scale projects: 7.1% success rate (vs 14% in IF23)
Medium-scale: 35% (vs 31% in IF23)
Small-scale: 21% (vs 19% in IF23)
Cleantech manufacturing: 22% (vs 45% in IF23)
Pilots: 16% (vs 33% in IF23)
👉 For innovative SMEs and mid-caps, medium-scale decarbonisation remains the most accessible entry point.
👉 In contrast, large-scale competition is now extremely selective, implying that projects must be extremely strategic, ambitious, and aligned with EU industrial and decarbonisation priorities.
👉Small-scale projects show that they remain a solid option for early-stage innovations.
👉Pilots need to clearly demonstrate scalability and integration potential to stand out.
🔹 3. Where the money flows — sectoral insights
Cement and lime continue to dominate the industrial decarbonisation landscape, followed by refineries and chemicals. The Cleantech Manufacturing winners were primarily battery recycling plants and component factories for renewables. IF24 also shows growing support for electric sustainable aviation fuels (eSAF), highlighting the EU’s focus on decarbonising hard-to-abate sectors and scaling up industrial fuel production.
👉 IF24 signals a pivot toward building future industrial ecosystems alongside decarbonising existing assets.
🔹 4. A European map of decarbonisation
France, Spain, and the Nordics feature prominently again — with France alone hosting 4 of the 10 large-scale projects. Emerging players like Poland, Romania, and Portugal show growing participation, especially in clean tech manufacturing and pilots — a positive sign for broader geographic balance.
🔹 5. Lessons for IF25: What Applicants Should Keep in Mind
The IF24 results offer valuable clues for anyone planning to participate in IF25:
Align with EU priorities. Projects that strengthen European industrial capabilities — not just reduce emissions — will likely have an edge.
Think beyond novelty. Innovation alone is no longer enough. IF25 will favor solutions that are scalable, replicable, and industrially relevant. Applicants should clearly demonstrate how their technology can grow and integrate into a wider European ecosystem.
Choose the right project scale
Large-scale: high ambition, high competition — success is rare but transformative if selected.
Medium-scale: sweet spot for SMEs and mid-caps — significant funding, more accessible entry.
Cleantech manufacturing & pilots: strong opportunities for niche innovations that support net-zero industrial ecosystems.
4. Prepare for a selective process. IF25 will likely continue the trend of tighter budgets and rigorous selection. Early engagement with technical & funding advisors will be critical to stand out.
👉 Bottom line: IF25 isn’t just about having a great idea — it’s about positioning that idea within Europe’s decarbonisation strategy. Medium-scale projects, cleantech manufacturing, and well-framed pilots offer tangible pathways for innovative teams to secure funding.
Note: All calculations and analysis in this article are my own, based on the data provided by CINEA at Innovation Fund 2024 call.
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