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: 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)

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:

  • January 11th 2023 (only EIC Accelerator Open)
  • March 22nd 2023
  • June 7th 2023
  • October 4th 2023

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:

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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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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)

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Document Formatting Tips for the EIC Accelerator Grant pt.1 (SME Instrument Phase 2)

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EIC Accelerator: Software Choices for the Annexes (SME Instrument Phase 2)

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EIC Accelerator Writing: Providing the Missing Link (SME Instrument Phase 2)

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Pre-Requisites for an EIC Accelerator Application (SME Instrument Phase 2)

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Choosing a Good Project for the EIC Accelerator (SME Instrument Phase 2)

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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)

Next to outlining the innovative nature of a project, being able to demonstrate customer interest (i.e. traction) is a key ...
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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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Writing an EIC Accelerator Application: Microsoft Word vs. Adobe InDesign (SME Instrument Writing)

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EIC Accelerator (SME Instrument Phase 2) – Introduction and Blended Finance

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EIC Accelerator Budget Retrospectively Increased By €150m due to COVID-19

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EIC Accelerator Interviewees from March Deadline Unable to Apply for May Cut-Off

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Update: Proposal Template for the EIC Accelerator Green Deal Deadline (SME Instrument May 2020)

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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 ...
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Using the Evaluation Summary Report (ESR) to Improve Grant Proposal Writing (EIC Accelerator)

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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 ...
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The European Green Deal – A Dedicated Cut-Off for the EIC Accelerator

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The Difference Between Innovation and Features (EIC Accelerator)

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Changes in the EIC Accelerator during 2019

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SME Instrument Grant Writing Tips (EIC Accelerator)

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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 ...
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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 ...
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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 ...
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How To Identify a High Quality SME Instrument Project (EIC Accelerator)

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What Types of Companies Have Received Funding?

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SME Instrument 2018 Changes

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Directly Applying for Phase 2

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What Does “Prototype Stage” Mean?

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What Makes a Good Project?

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When Is the Grant Paid in Phase 1?

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Technical Writing Tips

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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, ...
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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, ...
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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 ...
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Professional Grant Proposal Writing

Why hire a professional grant proposal writer? The EC has published templates for grant proposals but they are very general ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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Professional Grant Proposal Writing for the EIC Accelerator and Horizon Europe Programs (SME Instrument)