Update: Proposal Template for the EIC Accelerator Green Deal Deadline (SME Instrument May 2020) Posted on April 16, 2020October 14, 2020 By Stephan Segler, Ph.D. There has been an update on April 3rd (here) for the EIC Accelerator (SME Instrument) template which now gives applicants the opportunity to receive inquiries from potential investors, provided a Seal of Excellence (score of 13/15) has been received. In Annex 3 of the proposal, every applicant now has the option to give consent for the publication of their contact details by the EC to interested third parties. Success Statistics The EIC Accelerator is highly competitive and while 30-40% of applicants reach the threshold for funding, only 3-5% of companies end up receiving financial support (a detailed analysis of the EIC Accelerator success rate for the 2018 to 2020 period will follow shortly). This option of allowing potential investors to reach out to startups will likely be very beneficial to most applicants. This change might also be a sign for a greater ambition by the EC to create a more flourishing and VC-oriented funding network across Europe. Seal-of-excellence holders were already able to attend online pitch events and meet investors (link) but the option was rather hidden and likely used too infrequently. The recently introduced equity-finance option (blended finance) is a similar step of transitioning towards private funding as it connects startups with private industry and allows non-EU parties to provide financing instead of the EU. In the long term, expanding the governments grant financing budget with private funding might be the only way to truly deal with the increased interest in the EIC Accelerator (SME Instrument) since the number of applications keeps rising which, in turn, reduces success rates. Call Page Another change to the May’s EIC Accelerator submission (Green Deal) is the separation of the call page which is important to know and essential in order to pick the correct button for the submission. The new page can now be found here. If the regular EIC Accelerator page were to be used during the submission process then the proposal would register for the October deadline rather then the one in May. Lastly, the EIC has announced (via twitter) that the interviews for the March 2020 deadline will be held remotely via video calls. This is due to the coronavirus (COVID-19) epidemic and will likely be the new norm for all of 2020. In addition, these interviews have been postponed by a week which might have a ripple effect for the Green Deal deadline on May 19th which could potentially be postponed as well to May 26th. This article was last modified on Oct 14, 2020 @ 12:38 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 (short proposal) open now Step 2 (business plan, closing 17:00 Brussels Time) 1st cut-off: - 2nd cut-off: - 3rd cut-off: - 4th cut-off: October 3rd 2024 Step 3 (interview) 1st cut-off: - 2nd cut-off: June 10th to 14th 2024 3rd cut-off: - 4th cut-off 2024: January 13th to 17th 2025 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 deadlineEIC Accelerator equityEIC Accelerator financingEIC Accelerator grantEIC accelerator green dealEIC Accelerator submissionEIC Accelerator successEIC Accelerator templateEIC Accelerator videoIndustries & CompaniesInvestorsSME Instrument Phase 1Statistics
EIC Accelerator 2023 Budget Allocations for EIC Pathfinder, Transition and Accelerator Posted on February 8, 2023February 19, 2023 The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity) by the European Commission (EC) and European Innovation Council (EIC) is designed for startups and Small- and Medium-Sized Enterprises (SME). It awards up to €2.5 million in grant and €15 million in equity financing per project (€17.5… Read More
EIC Accelerator The Financing Timeline For EIC Accelerator Applicants (SME Instrument Phase 2) Posted on July 31, 2020October 9, 2020 The EIC Accelerator (formerly SME Instrument Phase 2) is a highly competitive grant (as well as equity) financing program by the European Commission (EC) and the European Innovation Council (EIC). Many startups and Small- and Medium-Sized Enterprises (SME), in their journey of seeking financing sources, discover this opportunity since it… Read More
EIC Accelerator Choosing a Good Project for the EIC Accelerator (SME Instrument Phase 2) Posted on May 29, 2020October 9, 2020 While any type of industry or product is eligible for an EIC Accelerator application, the EU specifically seeks out innovative businesses that are providing high-risk and high-reward products or services. The evaluation criteria directly mention new market creation, market disruption as well as the establishment of new value-chains and, while… Read More