The EIC Accelerator funding (formerly SME Instrument Phase 2) by the European Commission (EC) and the European Innovation Council (EIC) is specifically designed for Small and Medium-Sized Enterprises (SME) which seek financial support for their innovative product. Read: Assessing an EIC Accelerator Applicant
The funding provides €500,000 to €2,500,000 in the form of a non-refundable grant and up to €15,000,000 via equity financing (i.e. financing which requires equity in exchange) to perform the technical and commercial developments necessary in bringing the innovation to market. In total, blended financing (i.e. the combination of grant and equity) can provide up to €17,500,000 in financial support. Read: Introduction & Grant vs. Blended Finance
Companies from all industries can apply, provided the project is in the prototype stage (i.e. Technology Readiness Level 5) and is unique as well as innovative. Read: Technology Readiness Levels (TRL)
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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)
- 1st cut-off: -
- 2nd cut-off: -
- 3rd cut-off: -
- 4th cut-off: October 19th 2023 (extended)
- Step 3 (interview)
- 1st cut-off: -
- 2nd cut-off: -
- 3rd cut-off: October 2nd to 6th (extended)
- 4th cut-off: November 27th to December 8th
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, PhD
Professional 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
Deciding Between EIC Pathfinder, Transition and Accelerator
A Winning Candidate for the EIC Accelerator
EIC Accelerator Interview Preparation Process: Scripting the Pitch (Part 1)
Zombie Innovation: EIC Accelerator Funding for the Living Dead
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A Quick FTO Guide for EIC Accelerator Applicants in a Rush
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2023 Budget Allocations for EIC Pathfinder, Transition and Accelerator
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Cancelling Funding and Changing Grant Requests (2023 EIC Accelerator Work Programme Part 5)
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The Conditions for EIC Equity Investments (2023 EIC Accelerator Work Programme Part 3)
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EIC Accelerator Interview Preparation Process: Jury Considerations (Part 3)
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How to Script an EIC Accelerator Pitch Video (SME Instrument) – Part 1
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How to Select an EU Grant Financing Program such as the EIC Accelerator (SME Instrument) – Part 2
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How to Select an EU Grant Financing Program such as the EIC Accelerator (SME Instrument) – Part 1
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How the Future of the EIC Accelerator Could Look Like (SME Instrument) – Part 2
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How the Future of the EIC Accelerator Could Look Like (SME Instrument) – Part 1
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How to Prepare for an EIC Accelerator Pitch Interview (SME Instrument Phase 2) – Part 1
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Visual Representation of an EIC Accelerator Proposal Narrative (SME Instrument Phase 2) – Part 2
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Assessing an EIC Accelerator Applicant for Innovation, Traction and the Team (SME Instrument) – Part 2
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Assessing an EIC Accelerator Applicant for Innovation, Traction and the Team (SME Instrument) – Part 1
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Why It’s Great to be a Female Entrepreneur in the EU (EIC Accelerator)
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The Financing Timeline For EIC Accelerator Applicants (SME Instrument Phase 2)
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Identifying a Broad Vision for an EIC Accelerator Project (SME Instrument Phase 2)
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Finding Updates and News for the EIC Accelerator (SME Instrument Phase 2)
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Deviations from the EIC Accelerator Grant Proposal Template (SME Instrument Phase 2)
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Choosing an Acronym for the EIC Accelerator Grant (SME Instrument Phase 2)
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Writing the Abstract for the EIC Accelerator Grant (SME Instrument Phase 2)
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Choosing a Project Title for the EIC Accelerator (SME Instrument Phase 2)
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Document Formatting Tips for the EIC Accelerator Grant pt.3 (SME Instrument Phase 2)
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Document Formatting Tips for the EIC Accelerator Grant pt.2 (SME Instrument Phase 2)
For part 1 of the EIC Accelerator grant formatting tips, please read this article. Hyper-links, cross-references and bookmarks It is ...
Document Formatting Tips for the EIC Accelerator Grant pt.1 (SME Instrument Phase 2)
For the EIC Accelerator Grant (SME Instrument Phase 2), the design of the text, headers and pages are an important ...
EIC Accelerator: Software Choices for the Annexes (SME Instrument Phase 2)
For Document 1 writing tips, please view: Writing an EIC Accelerator Application: Microsoft Word vs. Adobe InDesign (SME Instrument Writing) ...
How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument)
The Work Programme for the EIC Accelerator (SME Instrument Phase 2) clearly defines the type of innovation that is eligible ...
Technology Readiness Levels and the EIC Accelerator (SME Instrument)
Technology Readiness Levels (TRL) are a useful way of classifying the current stage of an innovation or technology. They have ...
EIC Accelerator Interviews: Pitch Deck vs. Proposal Documents (SME Instrument)
The EIC Accelerator (SME Instrument) grant program follows a two-step evaluation process consisting of a written application (step 1) and ...
EIC Accelerator Proposal Design: Helpful Resources and Graphics (SME Instrument)
1. Pictograms Pictograms can be very helpful in designing concept graphics and in increasing the general appeal of figures and ...
EIC Accelerator Writing: Providing the Missing Link (SME Instrument Phase 2)
The introduction of an EIC Accelerator (SME Instrument Phase 2) application is one of the most important sections and it ...
Pre-Requisites for an EIC Accelerator Application (SME Instrument Phase 2)
The applicant for the EIC Accelerator (SME Instrument Phase 2) financing is a registered company which will need to create ...
Choosing a Good Project for the EIC Accelerator (SME Instrument Phase 2)
While any type of industry or product is eligible for an EIC Accelerator application, the EU specifically seeks out innovative ...
Technology Readiness Levels (TRL) for the EIC Accelerator (SME Instrument)
To apply for the EIC Accelerator (SME Instrument Phase 2) financing, your project will need to be at the prototype ...
Presenting Customer Interest for a Successful EIC Accelerator Application (SME Instrument Phase 2)
Next to outlining the innovative nature of a project, being able to demonstrate customer interest (i.e. traction) is a key ...
The EIC Accelerator Budget: Grant vs. Blended Finance (Equity, SME Instrument)
The grant and the equity contribution for the EIC Accelerator are sourced from different funds (i.e. the EC and the ...
EIC Accelerator Applications and EU Policies or Targets (SME Instrument Phase 2)
Preparing a great EIC Accelerator application always includes the consideration of the EU policies and targets which are directly supported ...
Business Models for EIC Accelerator Applications (SME Instrument)
There are a great number of different business models available to choose from (i.e. marketplaces, product sales, SaaS, B2B, B2C, ...
Writing an EIC Accelerator Application: Microsoft Word vs. Adobe InDesign (SME Instrument Writing)
The EIC Accelerator application consists of the following major parts: Document 1 (Main proposal as PDF - 30 pages1 ≤ ...
EIC Accelerator (SME Instrument Phase 2) – Introduction and Blended Finance
Writing a successful EIC Accelerator (SME Instrument) application is always challenging due to the competitive nature of the grant and ...
EIC Accelerator Budget Retrospectively Increased By €150m due to COVID-19
It has today been announced that the budget for the March 20th cut-off for the EIC Accelerator has been increased ...
EIC Accelerator Interviewees from March Deadline Unable to Apply for May Cut-Off
Due to the record number of applications for the EIC Accelerator's March 2020 deadline (almost 3,968 applications instead of the ...
Update: Proposal Template for the EIC Accelerator Green Deal Deadline (SME Instrument May 2020)
There has been an update on April 3rd (here) for the EIC Accelerator (SME Instrument) template which now gives applicants ...
EIC Accelerator: New Proposal Template from March 20th (2020)
The new proposal template for the EIC Accelerators Green Deal deadline on May 19th has recently been released and this ...
Using the Evaluation Summary Report (ESR) to Improve Grant Proposal Writing (EIC Accelerator)
Every great grant application starts with a great project. It must be able to check all the necessary boxes from ...
The EIC Accelerator: Grant vs. Blended Financing (Equity)
Here are the answers to some frequently asked questions regarding the equity financing option of the EU's start-up grant (SME ...
The European Green Deal – A Dedicated Cut-Off for the EIC Accelerator
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The Difference Between Innovation and Features (EIC Accelerator)
Here are some tips regarding applications for the EU's start-up grant (up to €2,500,000 via grant + €15,000,000 through equity ...
Changes in the EIC Accelerator during 2019
Since 2019 has come to an end, here is a summary of the main changes that have occurred regarding the ...
SME Instrument Grant Writing Tips (EIC Accelerator)
I frequently get asked about the application process for the SME Instrument Funding by the EU, so here is a ...
SME Instrument Phase 1 vs. Phase 2 (EIC Accelerator) Part 2
Here is some additional information regarding the EU's Startup Funding (The SME Instrument) that I frequently get questions about: Since ...
The Two Most Important Features for an SME Instrument Project (EIC Accelerator)
Here is some information on the EUs startup grant to help you find out if you can apply. I am ...
SME Instrument Phase 1 vs. Phase 2 (EIC Accelerator)
Since Phase 1 (€50,000) of the EUs start-up grant will be discontinued after September 2019 but Phase 2 (€2,500,000) will ...
How To Identify a High Quality SME Instrument Project (EIC Accelerator)
If you are considering to apply for the start-up grant by the EU, here is the most important information on ...
What Types of Companies Have Received Funding?
In 2018, the EC has published an annual report which contained some helpful statistics. It actually answers quite a few ...
SME Instrument 2018 Changes
Before 2018, there were pre-defined industries (13 in total) which could apply to the SME Instrument. Starting February 2018, the ...
Directly Applying for Phase 2
I am talking to a lot of startups regarding EU funding and I frequently get asked if it is possible ...
What Does “Prototype Stage” Mean?
If you already have a prototype (an App or a physical product) then it is important to have some quantifiable feedback ...
What Makes a Good Project?
I am talking to a lot of startups who are at different stages in their development. When first discussing a project, ...
When Is the Grant Paid in Phase 1?
From submission to approval of the project, it can take 4-6 weeks followed by another 4 weeks for the signing ...
Technical Writing Tips
When you write your proposal, you must make sure that your technology is well explained and that your explanation is ...
Do You Need Additional Investors?
Phase 1 is funded as a flat fee of €50,000 for the purpose of performing a feasibility study. Phase 2, ...
What Projects Does the EU Like Most?
The EU is not a private investor. Next to a great business proposition, the EU also cares about long term social, ...
What is the Timeline for the Application?
Since I am frequently asked about the specific timeline and duration for the EU's SME Instrument funding, here is a ...
Professional Grant Proposal Writing
Why hire a professional grant proposal writer? The EC has published templates for grant proposals but they are very general ...
What is Phase 1 for and What Comes Next?
The purpose of Horizon 2020s SME Instrument Schemes Phase 1 is a feasibility study for the project (lasting around 6 months ...
What Is the H2020 SME Instrument Phase 1 Funding?
The SME Instrument is a €3 billion funding scheme that is part of the largest EU research and innovation programme ...
The Success Rate For Receiving Government Funding
This version considers the SME Instrument 2016-2017. Once the 2018 topics are released, it will be updated. A list of ...
What Information Is Needed to Write A Proposal?
Before we begin our first video call, irrespective of a contract being signed or not, both parties will sign a Non-Disclosure ...
How To Improve Your Chances of Getting Funded
To find out if your project is suitable for funding, please read What Types of Industries Receive Funding?. Three of ...
Can My Company Receive Funding from the EU?
To see if the project is eligible for funding in one of the 13 topics, please read What Types of Industries ...
What Types of Industries Receive Funding?
The detailed topic descriptions can be found here. When you are unsure if a specific topic applies to your project, ...
My Proposal Has a High Score But Was Rejected, What Now?
The Score All proposals above a threshold of 13 receive the "Seal of Excellence" and are eligible for funding. Unfortunately, the ...