Proposed Application Process for the EIC Accelerator 2021 (SME Instrument Phase 2)

Attention: A new article is available detailing the changes for the 2021 EIC Accelerator Work Program.

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) will be reinstated in 2021 with a higher budget, a new structure and a different evaluation process. For startups and Small- and Medium-Sized Enterprises (SME), it is important to be prepared for these changes and to understand what requirements will have to be met for the new templates and a successful EIC Accelerator grant submission.

The exact details of the process, as defined by the European Innovation Council (EIC) and European Commission (EC), are not known yet but the general structure for an EIC Accelerator application will likely be similar to the following steps:

Step 1: Short Application & Pitch Video

Each project will begin with a short application that contains a proposal of only a few pages and also includes a pitch video that will likely focus on the founders, the innovation and the business model. The details of this step are not exactly known yet but it does add an extra layer of skill to proposal writing which is in the form of audio/video production and editing (read: Making a Video).

Depending on the restrictions of the video (i.e. what is allowed and what is not), its general competitiveness can vary greatly since larger companies with marketing departments and content creators would have a clear benefit over small DeepTech business that only employ technicians and developers. Restrictions imposed on the videos could level the plane field by disallowing the use of graphics and animations but such a process would be almost impossible to enforce by the remote evaluators.

In some way, this development is great for applicants since less effort is needed to apply for the first step while the final evaluation stage (i.e. the pitch interview in Brussels) is now already part of step 1 (i.e. the video). On the flip side, by adding another evaluation step to the process, applicants will likely have less confidence in the overall success of their application.

Step 2: Long Application

The next stage will likely be the conventional, long application which will be a detailed representation of the project, its business plan and the overall impact. Read: Visual Representation of a Proposal

Step 3: Jury Interview

The last step is expected to follow the same jury-interview model as the EIC Accelerator 2018-2020 while certain changes might be implemented as well. Read: Pitch Deck vs. Proposal

General Changes

Scoring System

Instead of providing Evaluation Summary Reports (ESR) with detailed scores between 1 and 15 as well as up to two decimals, the new EIC Accelerator in 2021 will likely use simple YES or NO gradings to assess each evaluation step. The exact details of this approach are not published yet but it will likely lead to a less transparent evaluation process and increase the perception of black box decision-making.

Freezing Periods

It is expected that freezing periods will be introduced to restrict the number of re-submissions. These can be complex depending on the stage of the initial rejection but it is anticipated that each applicant will at least have two opportunities to hand in a successful grant application.

Seal of Excellence (SoE)

SoE's will likely remain part of the evaluation results but it is currently unknown how exactly they will be awarded since no scores are expected to be given.

Topics

Thematic topics with specific budgets and goals will be reintroduced as they have already been part of the SME Instrument in previous years. These topics will present parallel calls under the EIC Accelerator and each applicant can decide to what specific topic they want to apply to. Topics will likely vary greatly in competitiveness, evaluation and their budgets wich will make careful planning essential.

Conclusion

The new process aims to create a fairer evaluation and also reduce the work-load associated with the exceedingly larger numbers of incoming EIC Accelerator applications but it could lead to new and unforeseen problems. The number of companies receiving a YES in step 1 and 2 might exceed the capacity for the step 3 interviews since it has long been a reality that a large number of projects would reach the funding threshold (i.e. a score of 13) but had to be cut off.

If all companies that receive a YES in step 2 must be invited to an interview then this could lead to week-long evaluations that significantly overload the evaluations. If no scores are given but only a pre-defined number of applicants is making it towards step 3, then the evaluation process would be very non-transparent since it is unclear how the projects were ordered and on what basis since YES and NO should be the only criteria and not BETTER or WORSE.

At this stage, all applicants, consultants and professional writers will have to await the official publication of the EIC Accelerator 2021 Work Programme which will provide answers to the most pressing questions.

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 listed below. 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. Switzerland has resumed its participation in Horizon Europe and is now eligible for the EIC Accelerator.

Contact: You can reach out to us via this contact form to work with a professional consultant.

AI Grant Writer: ChatEIC is a fully automated EIC Accelerator grant proposal writer: Get it here.

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EIC Transition: EIC Transition delivers up to €2.5 million in funding to overcome the 'valley of death' gap between laboratory research and market deployment, emphasizing technology maturation and validation. The initiative supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Key technology domains include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics. Get Started

EIC STEP Scale-Up: EIC STEP Scale-Up delivers significant equity investments of €10-30 million for established deep-tech companies prepared for hyper-growth and large-scale expansion. The initiative targets SMEs or small mid-caps with up to 499 employees who have obtained pre-commitment from qualified investors. Primary focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero objectives, and Biotechnologies. Get Started

EIC Pre-Accelerator: EIC Pre-Accelerator represents a 2025 pilot initiative delivering €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. This program is exclusively accessible to single SMEs or small mid-caps from 'Widening countries' to foster regional innovation development. The initiative encompasses deep-tech innovations across physical, biological, and digital domains. Get Started

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EIC Accelerator: EIC Accelerator delivers flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The initiative targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Additional technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors. Get Started

Innovation Partnership: Innovation Partnership enables collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The initiative supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects concentrate on addressing societal challenges through collaborative innovation approaches. Get Started

Innovation Fund: The EU Innovation Fund delivers substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The initiative targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Eligible participants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects. Get Started

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Thematic Priorities: EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas. Get Started

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