EIC Accelerator Interviews: Pitch Deck vs. Proposal Documents (SME Instrument) Posted on June 4, 2020October 9, 2020 By Stephan Segler, Ph.D. The EIC Accelerator (SME Instrument) grant program follows a two-step evaluation process consisting of a written application (step 1) and an in-person interview (step 2). Each evaluation stage is equally important but, due to the differing mechanisms for scoring a respective project, the approach for preparing the individual parts of an application should differ as well. Documents 1-3 (i.e. the written application) and Document 4 (i.e. the pitch deck) should be aligned with the following general considerations: Written Application The written application follows a very straightforward evaluation process whereas four reviewers are grading Documents 1-3 according to pre-defined criteria. The full list of these criteria can be found in this article: Using the ESR to Improve Grant Proposal Writing. The written application must appeal to these evaluation criteria as much as possible and the overall rule for these Documents is more is more since missing out on even a single criterion can jeopardize the success of obtaining the grant financing. Of course, the proposal should still be clearly written, not be a single block of text and have enough spaces as to not appear overcrowded but adding more information is always better than omitting it. It is meaningless to rank very high on a single criterion (i.e. the gender impact or the European aspect) while neglecting criteria such as Key Performance Indicators (KPI), experience in startup scaling or making the technology appear more professional (i.e. see these Design Tips). The written application must be as complete as possible and function as the perfect representation of a project without any need for further clarification. This is the key difference between the pitch and the written proposal since there will be no option for the reader to give feedback or request more information. Every deficit found in the writing and in the overall presentation will be negatively affecting the score. Pitch Deck The pitch deck, while technically a part of the written application, will be the central focus of the jury during the interview. The jurors might not be familiar with the application and will likely judge the applicant largely based on the information given in the pitch. As such, the presenters have to convey the most important aspects of the project in only 10 minutes which is not enough time to compress all the information found in the written application. As such, the pitch deck must omit a vast amount of information which might have been relevant for step 1 but is of less relevance to the jury (i.e. gender dimension, new-markets, job creation). The jury will largely focus on the business model (i.e. innovation, competition, customer journey, go-to-market, user needs, projections, etc.) while not being too pre-occupied with a scoring card. After the 10 min pitch, the jurors have 30 minutes to clarify every question they might have. This is a fundamental difference between step 1 & 2 since it allows the presenter to only hint at certain information during the pitch without fully detailing it. This enables the team to focus on selling the idea and to follow a less is more approach rather than trying to compress as much information as possible. If a juror has a question, they will likely ask it during the 30 minutes of questioning. There is also a chance of the evaluators having read the application carefully which can then lead to targeted questions regarding specific proposal sections. Such attention to detail only enforces the general rule of less is more since all relevant questions can be answered during the 30 min Q&A. During the pitch, the applicants should focus on presenting an excellent investment opportunity with a great ROI that holds up even if the written application were non-existent. Conclusion While the written application is graded with specific ESR criteria and should follow a more is more approach, the pitch given will be in a VC-like setting and, due to the time constraints, a less is more approach is beneficial. This article was last modified on Oct 9, 2020 @ 11:13 These tips are not only useful for European startups, professional writers, consultants and Small and Medium-Sized Enterprises (SME) but are generally recommended when writing a business plan or investor documents. Deadlines: Post-Horizon 2020, the EIC Accelerator accepts Step 1 submissions now while the deadlines for the full applications (Step 2) under Horizon Europe are: Step 1 Open now: Apply as soon as possible to be eligible for the next Step 2 submission deadline Step 2 (closing 17:00 Brussels Time) 1st cut-off 2025: - 2nd cut-off 2025: March 12th 2025 3rd cut-off 2025: - 4th cut-off 2025: October 1st 2025 Step 3 4th cut-off 2024: January 13th to 17th 2025 1st cut-off 2025: TBD 2nd cut-off 2025: TBD 3rd cut-off 2025: TBD 4th cut-off 2025: TBD The Step 1 applications must be submitted weeks in advance of Step 2. The next EIC Accelerator cut-off for Step 2 (full proposal) can be found here. After Brexit, UK companies can still apply to the EIC Accelerator under Horizon Europe albeit with non-dilutive grant applications only - thereby excluding equity-financing. Contact: You can reach out to us via this contact form to work with a professional consultant. EU, UK & US Startups: Alternative financing options for EU, UK and US innovation startups are the EIC Pathfinder (combining Future and Emerging Technologies - FET Open & FET Proactive) with €4M per project, Thematic Priorities, European Innovation Partnerships (EIP), Innovate UK with £3M (for UK-companies only) as well as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants with $1M (for US-companies only). Any more questions? View the Frequently Asked Questions (FAQ) section. Want to see all articles? They can be found here. For Updates: Join this Newsletter! by Stephan Segler, PhDProfessional Grant Consultant at Segler Consulting General information on the EIC Accelerator template, professional grant writing and how to prepare a successful application can be found in the following articles: A Quick FTO Guide for EIC Accelerator Applicants in a Rush 2023 Budget Allocations for EIC Pathfinder, Transition and Accelerator Developing the Unique Selling Points (USP) for the EIC Accelerator Explaining the Resubmission Process for the EIC Accelerator A Short but Comprehensive Explanation of the EIC Accelerator EIC Accelerator Success Cases Deciding Between EIC Pathfinder, Transition and Accelerator A Winning Candidate for the EIC Accelerator EIC Accelerator Interview Preparation Process: Scripting the Pitch (Part 1) EIC Accelerator Horizon 2020 Phase 2 SME Instrument / EIC Accelerator EIC Accelerator financingEIC Accelerator grantEIC Accelerator successEIC Accelerator womenIndustries & CompaniesTimelineWriting Tips
EIC Accelerator How to Create Pitch Videos for the EIC Accelerator (SME Instrument Phase 2) Posted on December 12, 2020February 19, 2023 The European Commission (EC) and the European Innovation Council (EIC) are planning major changes to the EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) application process whereas the introduction of video pitches is expected (read: EIC 2021). These can present a new challenge for prospect… Read More
EIC Accelerator How a Consultant can Produce an EIC Accelerator Pitch Video Remotely (SME Instrument) – Part 2 Posted on February 10, 2021February 4, 2021 This article is a continuation of Part 1 and presents a proposed workflow for the creation of a pitch video for the EIC Accelerator blended financing program (formerly SME Instrument Phase 2 – grant and equity financing). Due to the new process under Horizon Europe (2021-2027), the pitch video will… Read More
EIC Accelerator How Deep Is Your Tech? The European Innovation Council Impact Report (EIC Accelerator) Posted on May 8, 2023May 1, 2023 The European Commission (EC) and European Innovation Council (EIC) provide €2.5 million in grants and €15 million in venture financing per startup or Small- and Medium-Sized Enterprise (SME). This article discusses highlights from the 2022 impact report on the new EIC Accelerator program (grant and equity, with blended financing option)…. Read More