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
EIC Accelerator Technology Readiness Levels (TRL) for the EIC Accelerator (SME Instrument) Posted on May 28, 2020October 9, 2020 To apply for the EIC Accelerator (SME Instrument Phase 2) financing, your project will need to be at the prototype level which is defined as TRL6 (i.e. proof-of-concept) according to the Technology Readiness Level (TRL) classifications which are ranging from TRL1 (i.e. basic research or idea stage) to TRL9 (i.e…. Read more
EIC Accelerator Presenting Customer Interest for a Successful EIC Accelerator Application (SME Instrument Phase 2) Posted on May 27, 2020October 9, 2020 Next to outlining the innovative nature of a project, being able to demonstrate customer interest (i.e. traction) is a key factor for the success of an EIC Accelerator application. Like most other recommendations, this criteria is not an official requirement to be eligible for the financing but the evaluation checklist… Read more
EIC Accelerator The EIC Accelerator Budget: Grant vs. Blended Finance (Equity, SME Instrument) Posted on May 26, 2020October 9, 2020 The grant and the equity contribution for the EIC Accelerator are sourced from different funds (i.e. the EC and the EIC, respectively) which means that the budget is also separated into two components. The grant will need to be defined in a budget table in Part A of the administrative… Read more
EIC Accelerator EIC Accelerator Applications and EU Policies or Targets (SME Instrument Phase 2) Posted on May 25, 2020October 9, 2020 Preparing a great EIC Accelerator application always includes the consideration of the EU policies and targets which are directly supported by the project but this strategy goes both ways. While the EIC Accelerator is open to innovations of all industries, any project that is directly going against EU policies will… Read more
EIC Accelerator Business Models for EIC Accelerator Applications (SME Instrument) Posted on May 24, 2020October 9, 2020 There are a great number of different business models available to choose from (i.e. marketplaces, product sales, SaaS, B2B, B2C, B2B2C, etc.) and the EU even lists business model innovations as a viable project type which can receive innovation financing. Still, some business models are better than others but it… Read more
EIC Accelerator Writing an EIC Accelerator Application: Microsoft Word vs. Adobe InDesign (SME Instrument Writing) Posted on May 23, 2020October 9, 2020 The EIC Accelerator application consists of the following major parts: Document 1 (Main proposal as PDF – 30 pages1 ≤ 10MB) Document 2 (Annexes as PDF – unlimited pages ≤ 10MB) Document 3 (Financial documents as PDF & XLS/ODS ≤ 10MB) Document 4 (Pitch deck as PDF – unlimited pages… Read more
EIC Accelerator EIC Accelerator (SME Instrument Phase 2) – Introduction and Blended Finance Posted on May 22, 2020October 9, 2020 Writing a successful EIC Accelerator (SME Instrument) application is always challenging due to the competitive nature of the grant and the 2 step evaluation process (i.e. written application and in-person interview). Success Rates Typical success rates range between 2% and 5% depending on the individual budget and the number of… Read more
EIC Accelerator EIC Accelerator Budget Retrospectively Increased By €150m due to COVID-19 Posted on April 30, 2020October 9, 2020 It has today been announced that the budget for the March 20th cut-off for the EIC Accelerator has been increased retrospectively. This has been decided due to the record number of applications received (almost 4,000 instead of the usual ~1,900) and the EU’s push towards applicants to present COVID-19 related… Read more
EIC Accelerator EIC Accelerator Interviewees from March Deadline Unable to Apply for May Cut-Off Posted on April 29, 2020October 9, 2020 Due to the record number of applications for the EIC Accelerator’s March 2020 deadline (almost 3,968 applications instead of the regular ~1,900), the interview week for step 2 of the evaluation process has been postponed from the initial May 4-8th to May 11-20th. This will lead to an overlap with… Read more
EIC Accelerator Update: Proposal Template for the EIC Accelerator Green Deal Deadline (SME Instrument May 2020) Posted on April 16, 2020October 14, 2020 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… Read more