Frequently Asked Questions (FAQ) for the EIC Accelerator

A Seal of Excellence (SOE) is obtained if a company passes Step 1 and Step 2 of the EIC Accelerator but is rejected in Step 3. If the applicant has been rejected for the first time in Step 3, they are able to re-apply to Step 2 or Step 3 in the following cut-offs.

Applicants can likewise use the SOE to obtain funding from other sources.

The European Innovation Council (EIC) is supported by the European Investment Bank (EIB) and Alter Domus Luxembourg to manage EIC Fund investments.

A full list of beneficiaries can be found on the EIC Accelerator call page and on the Community Research and Development Information Service (CORDIS) database.

Read: Success Cases

Read: Where can EIC Accelerator Results be found? (SME Instrument Phase 2)

See also: EIC Fund Beneficiaries.

Eligible applicants are for-profit Small and Medium-Sized Enterprises (SME) that are registered in the European Union (EU) or associated countries. See: All Eligible EIC Accelerator Countries (including the United Kingdom, Switzerland and Ukraine) and A Short but Comprehensive Explanation of the EIC Accelerator

There are many different grant writers and consultancies available for the EIC Accelerator. This contact form can be used to reach out to professional writers.

There are a variety of news outlets that provide information on the EIC Accelerator such as the European Innovation Council (EIC) Twitter account @eueic, the EU news regarding the EIC and the European Innovation Council and SMEs Executive Agency (EISMEA) news site.

The EIC Accelerator applicants are notified via email and on the EIC website. A list of beneficiaries and reports are made available through a variety of EIC communication outlets such as the European Innovation Council (EIC) Twitter account @eueic, the EU news regarding the EIC and the European Innovation Council and SMEs Executive Agency (EISMEA) news site.

The result of the EIC Accelerator application is an Evaluation Summary Report (ESR) which details the scoring of the application, the evaluation of sub-criteria and comments from each remote evaluator. See: How to Craft an EIC Accelerator Rebuttal: Explaining Grant Proposal Resubmissions

The minimum TRL for a project should be TRL5.

Read: How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument)

The EIC Accelerator application can be written in all official EU languages but it is recommended to write the application in English.

Technology Readiness Level (TRL) 6 describes an innovation that is currently at the prototype stage and has a completed Proof-of-Concept (POC). See: Technology Readiness Levels, Timelines and Interview Priorities (2023 EIC Accelerator Work Programme Part 4) and How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument)

The Seal of Excellence (SOE) is awarded to projects that are of high quality but were rejected in Step 3 of the EIC Accelerator’s evaluation process.

TRL5 to TRL8 is funded via grants while equity financing is funding TRL5 to TRL9. A grant project can start at TRL5-7 while an equity project could start at TRL5-8. See: How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument)

The Evaluation Summary Report (ESR) is the final evaluation document after an EIC Accelerator application which gives the score and feedback.

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 million total) and is the most well-funded funding instrument in the EIC portfolio. A Short but Comprehensive Explanation of the EIC Accelerator

The names are interchangeable whereas the SME instrument Phase 2 has been renamed to the EIC Accelerator in June 2019.

Horizon Europe (2021-2027) has replaced Horizon 2020 (2014-2020) as the next major funding arm of the European Union (EU).

Grant financing refers to non-repayable financing by the European Commission (EC) while equity financing by the European Innovation Council (EIC) EIC Fund and the European Investment Bank (EIB) is in exchange for company ownership (i.e. equity). Blended financing is a combination of grant and equity financing. See: A Short but Comprehensive Explanation of the EIC Accelerator

Blended financing is a combination of grant and equity financing. See: A Short but Comprehensive Explanation of the EIC Accelerator

A Small- and Medium-Sized Enterprise (SME) is an organization of a certain size with less than 250 employees, a maximum of €50 million in turnover and a balance sheet total of €43 million or less.

A work package is a concrete set of tasks and development plans revolving around a specific deliverable. A large development project is separated into multiple work packages to make budgeting, tracking and accountability easier for the investing party, namely the European Commission (EC).

Technology Readiness Levels (TRL) are a way of classifying the timeline of an innovation from the first idea to the finished product with levels ranging from TRL1 to TRL9. See: Technology Readiness Levels, Timelines and Interview Priorities (2023 EIC Accelerator Work Programme Part 4) and How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument)

The EIC Accelerator template is similar to a detailed business plan and includes financial information, a pitch deck, a company profile and detailed work package plans. The entire process is using an online platform and is separated into multiple steps. See: A Short but Comprehensive Explanation of the EIC Accelerator

The Step 2 template for the EIC Accelerator can be found here.

The grant financing (but not equity) is funded as 70% of the total costs. This means that a €1,000,000 grant project will be funded with €700,000 whereas €300,000 must be provided through other sources such as revenues, private investments or similar. If blended financing is requested, the 30% will automatically be covered through the EIC Fund investment. See: A Short but Comprehensive Explanation of the EIC Accelerator

The application is prepared on the European Innovation Council (EIC) website but a variety of annex uploads are required. See: How long does it take to apply for the EIC Accelerator? (Grant proposal timeline)

The success rates for the EIC Accelerator vary greatly but are averaging 5% in most cases. Recent statistics can be found here: EIC Accelerator Success Cases

It is possible to apply to the EIC Accelerator alone without prior experience if the applying company has the needed in-house skills.

Read: Should a Company Hire a Professional Consultant or Write an EIC Accelerator Grant Application Internally? (SME Instrument Phase 2)

The application to the EIC Accelerator proceeds online through the dedicated European Innovation Council (EIC) website. The majority of the proposal text is provided through an online form but annexes such as a video, pitch deck, financials and other materials are also included. See: A Short but Comprehensive Explanation of the EIC Accelerator

The EIC Accelerator provides up to €2.5 million in grant and €15 million in equity financing which means that a maximum of €17.5 million can be requested. See: A Short but Comprehensive Explanation of the EIC Accelerator

The negotiations and due diligence following the funding approval will determine the exact amount but up to 25% can be expected depending on the company’s valuation and the amount requested.

There is no limit to the number of applicants but the limited budget leads to a competitive evaluation where only less than 40-80 companies will be financed per cut-off. See: EIC Accelerator Success Cases

The project should be 1 to 2 years in duration.

The timeline depends on the number of resubmissions, deadlines per year and quality of the project since rejections are common. A fast EIC Accelerator submission process from Step 1 to the approval in Step 3 can occur in 6 months but can also take multiple years. Timelines are also prolonged depending on the time needed to issue grants and equity financing by the EIC Fund. See: How long does it take to apply for the EIC Accelerator? (Grant proposal timeline)

 

The time needed for an EIC Accelerator proposal preparation depends on the available materials such as business plans, documentation and financial information. In general, 1 month should be allocated for Step 1 and 2 months for Step 2. See: How long does it take to apply for the EIC Accelerator? (Grant proposal timeline)

No, the grant does not need to be paid back under normal circumstances while the equity financing is provided in exchange for company ownership. There are also loan modalities available under the EIC. See: A Short but Comprehensive Explanation of the EIC Accelerator

Yes, the European Innovation Council (EIC) is incentivizing women and female CEO’s, CTO’s or similar to apply and provides preferred selection for them to improve their gender quotas. See: Why It’s Great to be a Female Entrepreneur in the EU (EIC Accelerator)

No, only for-profit spin-offs that are Small and Medium-Sized Enterprises (SME), as well as small mid-caps (up to 499 employees), can obtain funding.

It is generally also possible for entities yet to be established to apply as individuals to the EIC Accelerator but these must form a separate legal entity prior to obtaining the financing.

No, the EIC Accelerator is a single-applicant financing program but, in the past, consortia were able to apply which might be reintroduced in the future.

No, the same project can only be submitted by one company but this does not include similar projects in case competitors are applying for the same grant.

Yes, albeit only for grant- but not equity-financing. The UK was eligible under Horizon 2020 (2014-2020) and participates in Horizon Europe (2021-2027) which includes the EIC Accelerator. See: All Eligible EIC Accelerator Countries (including the United Kingdom, Switzerland and Ukraine)

No, non-profits are not covered under the EIC Accelerator.

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

Yes, some non-EU countries that can apply are Norway, Albania, Bosnia and Herzegovina, North Macedonia, Montenegro, Serbia, Turkey, Israel, Moldova, Ukraine, the United Kingdom, Tunisia, Georgia and Armenia. See: All Eligible EIC Accelerator Countries (including the United Kingdom, Switzerland and Ukraine)

Yes, but the projects have to be different.

Yes, re-submissions are allowed in case EIC Accelerator applications were rejected prior. See: Explaining the Resubmission Process for the EIC Accelerator

Yes, the subsidiary has to declare all upstream and downstream relationships with other entities which include parent companies. The application is eligible if the Small and Medium-Sized Enterprise (SME) is deemed independent.

 

Do you have a question?

 


This article was last modified on Dec 21, 2020 @ 12:28


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)

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Designing Images for an EIC Accelerator Application (SME Instrument Phase 2) – Part 2

Part 1 of this article can be found under the provided link. 4. Image Guide for Selected Sections Whatever type ...

Designing Images for an EIC Accelerator Application (SME Instrument Phase 2) – Part 1

The EIC Accelerator grant or blended finance program (incl. equity option, formerly SME Instrument Phase 2) is a highly competitive ...

Assessing an EIC Accelerator Applicant for Innovation, Traction and the Team (SME Instrument) – Part 3

Part 1 (Innovation) and Part 2 (Traction) of this article can be found under the provided links. 3. Team After ...

Assessing an EIC Accelerator Applicant for Innovation, Traction and the Team (SME Instrument) – Part 2

Part 1 (Innovation) of this article can be found under the provided link. 2. Traction The suitability of a project ...

Assessing an EIC Accelerator Applicant for Innovation, Traction and the Team (SME Instrument) – Part 1

When developing a project for an EIC Accelerator grant or equity application (formerly SME Instrument Phase 2), it is often ...

Specific Buzzwords to be used in EIC Accelerator Applications (SME Instrument Phase 2)

The European Commission (EC) and the European Innovation Council (EIC) in particular have a variety of keywords (or buzzwords) that ...

Should a Company Hire a Professional Consultant or Write an EIC Accelerator Grant Application Internally? (SME Instrument Phase 2)

The EIC Accelerator Grant financing (SME Instrument Phase 2) is an interesting opportunity for both early-stage startups and established Small ...

Developing a Commercial Strategy for the EIC Accelerator (SME Instrument Phase 2)

One of the core sections of an EIC Accelerator application (SME Instrument Phase 2), taken from the official grant proposal ...

The Biggest Mistakes When Applying to the EIC Accelerator (SME Instrument Phase 2)

Every once in a while, a company is reaching out to us with a rejected EIC Accelerator grant (SME Instrument ...

Why It’s Great to be a Female Entrepreneur in the EU (EIC Accelerator)

The Europen Commission has long implemented policies and targets to increase gender equality across all industries and government institutions. While ...

The Financing Timeline For EIC Accelerator Applicants (SME Instrument Phase 2)

The EIC Accelerator (formerly SME Instrument Phase 2) is a highly competitive grant (as well as equity) financing program by ...

Identifying a Broad Vision for an EIC Accelerator Project (SME Instrument Phase 2)

The introduction is an important aspect of an EIC Accelerator (SME Instrument Phase 2) application and, even though it is ...

Finding Updates and News for the EIC Accelerator (SME Instrument Phase 2)

The European Commission has a variety of channels where updates and news are published. For the EIC Accelerator (SME Instrument ...

Deviations from the EIC Accelerator Grant Proposal Template (SME Instrument Phase 2)

EIC Accelerator grant (SME Instrument Phase 2) evaluators are instructed to ignore certain content such as text which is placed ...

Choosing an Acronym for the EIC Accelerator Grant (SME Instrument Phase 2)

The acronym of the EIC Accelerator grant (SME Instrument Phase 2 for European startups) can be viewed as an even ...

Writing the Abstract for the EIC Accelerator Grant (SME Instrument Phase 2)

The abstract for the EIC Accelerator (SME Instrument Phase 2) project will be the only part of the proposal that, ...

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

The title of the proposal can be viewed as the tag-line of the project. If the project's abstract is a ...

Document Formatting Tips for the EIC Accelerator Grant pt.3 (SME Instrument Phase 2)

For part 1 & part 2 of the EIC Accelerator grant formatting tips, please read this & this article. Proposal ...

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

Here is some information on the new "Green Deal" deadline for the EIC Accelerator - the EU's innovation startup funding ...

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 ...

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