Identifying a Broad Vision for an EIC Accelerator Project (SME Instrument Phase 2) Posted on July 29, 2020October 9, 2020 By Stephan Segler, Ph.D. The introduction is an important aspect of an EIC Accelerator (SME Instrument Phase 2) application and, even though it is not specifically mentioned in the template, it sets up much of the perceived project impact (see EIC Accelerator Writing: Providing the Missing Link). In general, the introduction should be as broad as possible and unify all of the potentials a certain technology has in a given environment. This means that the technology, in turn, should also be viewed as expandable since the current application of the prototype might not reflect what a fully mature product would have to offer. In summary, next to other essential parts which should be aligned to improve the projects perceived impact (see Using the Evaluation Summary Report), a grant application should adhere to the following principles: 1. The Great Vision It is often useful for a professional writer or consultant to strip down the project into its bare essence and to ask: “What is the biggest story I can tell with these ingredients?” This means re-assessing the applicant’s past accomplishments, their customers, their prototype, their selling points and the future potential of the technology. In order to be successful with an EIC Accelerator application, the project should not only embody “profit” and “feasibility” but also sell a vision that is out of the ordinary – i.e. a broad impact. A startup or Small and Medium-Sized Enterprise (SME) should be aware that what makes for a good company does not necessarily make for a good grant application. The grant financing, and especially the EIC Accelerator, is highly competitive and only those companies who can combine a great innovation with an even greater vision are able to persevere through the 2-step evaluation process (i.e. written application and in-person pitch). 2. Aligned with the EU’s Vision To answer the question “What does the EU want?”, directives, targets and policies should always be considered as well as the specific key enabling technologies, as defined by the European Commission. These can change in short time frames which is why new developments should periodically be researched for new grant submissions as well as during editions and resubmissions of a previously rejected application. In general, it is always useful to fully align the vision of a project with what the EU cares about. In almost all cases, a well-aligned narrative can be created around a core technology and company which maximizes the project’s impact. As a side note, it should also be considered if there are aspects of a particular project or technology that the EU might not be interested in. There are critical areas that should be avoided if they are directly violating key targets of the European Commission. These could be concerning fossil fuels, embryonic research, dangerous human testing or political topics. 3. Future Proof Technologies and Business Models It is too easy to lead a business and only have a very narrow view of the future. Understandably, most startups are concerned with their cash flow and their immediate financing status rather than considering what the future holds 10 to 20 years down the line. Still, the EU, and investors in general, will look at the longevity of a project just as much as at its current company health. It is important to consider if a certain project could be disrupted in the following years either through regulations, alternative technologies, changing user demands or similar mechanisms. At the very least, it should be assured that there are no critical stakeholders in a given grant application which will be obviously outdated in only a few years (i.e. the phase-out of fossil fuels, the transition to platooning/autonomous driving or blockchain-enabled cross-border payments). 4. A Realistic Ability to Scale A fourth factor to consider for a successful EIC Accelerator application is a company’s ability to grow in a certain industry. This is centrally important to the EU since scaling and growth are key factors for the evaluation and required for a project to reach its envisioned economic impact. There is a great difference between having small amounts of traction with a certain prototype versus scaling to a reasonable size while gaining market share from established competitors. The latter usually have mechanisms to react to commercial threats in the market such as pricing leverage at scale (i.e. pushing down the price to outcompete startups), copying competing products (i.e. larger teams and R&D expenditures) or by poaching customers based on a stronger branding & trust. A commercial strategy which is realistic and relates to such threats is indispensable in a grand future vision since its neglect would make the proposal sound too good to be true. Summary A key feature of a successful EIC Accelerator Phase 2 application is to always provide a great vision since this will define the interest the evaluators have in the project and make it stand out. The four core pillars of the project vision are: Expanded vision for maximum impact Aligned to what the European Union cares about Future-proof and no obvious deal-breakers Realistic scaling and mitigation measures This article was last modified on Oct 9, 2020 @ 12:04 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 consultantEIC Accelerator financingEIC Accelerator grantEIC Accelerator templateEIC Accelerator writerIndustries & CompaniesInvestorsSME Instrument Phase 2TimelineWriting Tips
Horizon 2020 Can My Company Receive Funding from the EU? Posted on August 29, 2017October 9, 2020 To see if the project is eligible for funding in one of the 13 topics, please read What Types of Industries Receive Funding?. More information and FAQs by the European Commission can be found here. Your company can apply with a project proposal if: It registered in an EU-28 country such… Read More
EIC Accelerator How the EIC Can Incentivise Shorter and Clearer Applications for the EIC Accelerator (SME Instrument Phase 2) – Part 2 Posted on December 14, 2020December 10, 2020 Information for readers: The following is a description of a proposed evaluation process but it does not, in any way, reflect the current way EIC Accelerator applications are evaluated. For this, please read this article. This article is a continuation of Part 1 and is followed by Part 3 and… Read More
EIC Accelerator How to Interpret the Evaluation Summary Report (ESR) of an EIC Accelerator Application (SME Instrument) – Part 2 Posted on October 28, 2020October 18, 2020 This article is a continuation of Part 1 which can be found under the provided link. The Evaluation Summary Report (ESR) provides the EIC Accelerator blended financing applicant (formerly SME Instrument Phase 2, grant and equity financing) with feedback regarding the proposal quality. While separating and grading the central sections of… Read More