EIC Accelerator Grant (SME Instrument Phase 2, EU Funding)

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: IntroductionGrant 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)


This article was last modified on Dec 21, 2020 @ 13:17


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


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)

Zombie Innovation: EIC Accelerator Funding for the Living Dead

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Technology Readiness Levels (TRL) for the EIC Accelerator (SME Instrument)

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Presenting Customer Interest for a Successful EIC Accelerator Application (SME Instrument Phase 2)

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The EIC Accelerator Budget: Grant vs. Blended Finance (Equity, SME Instrument)

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EIC Accelerator Applications and EU Policies or Targets (SME Instrument Phase 2)

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Business Models for EIC Accelerator Applications (SME Instrument)

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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 ...

Professional Grant Proposal Writing for the EIC Accelerator and Horizon Europe Programs (SME Instrument)