Frequently Asked Questions (FAQ) for the EIC Accelerator a Why did my EIC Accelerator project receive a Seal of Excellence (SOE) but no funding? 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. a Who receives the company ownership for the EIC Accelerator equity financing? The European Innovation Council (EIC) is supported by the European Investment Bank (EIB) and Alter Domus Luxembourg to manage EIC Fund investments. a Who has received EIC Accelerator grant financing? 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. a Who can apply to the EIC Accelerator? 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 a Where do I find professional grant writers or consultancies to apply for 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. a Where can I find updates on the EIC Accelerator? 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. a Where are EIC Accelerator results published? 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. a What type of feedback do I receive after an EIC Accelerator application? 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 a What Technology Readiness Level (TRL) does an EIC Accelerator project need to have at least? The minimum TRL for a project should be TRL5. Read: How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument) a What language does the EIC Accelerator application have to be in? The EIC Accelerator application can be written in all official EU languages but it is recommended to write the application in English. a What is TRL6 for the EIC Accelerator? 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) a What is the Seal of Excellence (SOE)? 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. a What is the maximum Technology Readiness Level (TRL) an EIC Accelerator project can have? 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) a What is the ESR? The Evaluation Summary Report (ESR) is the final evaluation document after an EIC Accelerator application which gives the score and feedback. a What is the EIC Accelerator? 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 a What is the difference between the SME Instrument and the EIC Accelerator? The names are interchangeable whereas the SME instrument Phase 2 has been renamed to the EIC Accelerator in June 2019. a What is the difference between Horizon Europe and Horizon 2020? Horizon Europe (2021-2027) has replaced Horizon 2020 (2014-2020) as the next major funding arm of the European Union (EU). a What is the difference between EIC Accelerator grant, equity and blended financing? 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 a What is EIC Accelerator blended financing? Blended financing is a combination of grant and equity financing. See: A Short but Comprehensive Explanation of the EIC Accelerator a What is an SME? 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 What is a work package? 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). a What does TRL mean for the EIC Accelerator? 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) a What does the template for an EIC Accelerator application look like? 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 Get your Free EIC Accelerator Step 1 Proposal Template Here a What does the 70% co-financing mean for the EIC Accelerator? 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 a What documents are needed for an EIC Accelerator application? 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) a What are the success chances for the EIC Accelerator? 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 a Should I apply to the EIC Accelerator grant by myself? 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) a How to apply for the EIC Accelerator? 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 a How much financing can be received under 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 a How much company ownership is given in return for equity financing under 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. a How many companies can apply to the EIC Accelerator? 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 a How long should an EIC Accelerator project be? The project should be 1 to 2 years in duration. a How long does it take until I receive the EIC Accelerator grant? 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) a How long does it take to prepare an EIC Accelerator application? 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) a Does the EIC Accelerator financing need to be paid back? 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 a Can women apply to 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) a Can Universities or research institutes apply to the 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. a Can two or more companies apply to the EIC Accelerator for one project? 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. a Can two companies apply for the same project? 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. a Can the United Kingdom (UK) apply to the EIC Accelerator? 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) a Can non-profits apply to the EIC Accelerator? No, non-profits are not covered under the EIC Accelerator. Read: Pre-Requisites for an EIC Accelerator Application (SME Instrument Phase 2) a Can non-EU countries apply to the EIC Accelerator? 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) a Can I submit multiple projects to the EIC Accelerator? Yes, but the projects have to be different. a Can I re-submit a rejected EIC Accelerator proposal? Yes, re-submissions are allowed in case EIC Accelerator applications were rejected prior. See: Explaining the Resubmission Process for the EIC Accelerator a Can a subsidiary apply to 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. This article was last modified on Feb 2, 2024 @ 12:37 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 Open now: Apply as soon as possible to be eligible for the next Step 2 submission deadline Step 2 (closing 17:00 Brussels Time) 1st cut-off 2025: - 2nd cut-off 2025: March 12th 2025 3rd cut-off 2025: - 4th cut-off 2025: October 1st 2025 Step 3 4th cut-off 2024: January 13th to 17th 2025 1st cut-off 2025: TBD 2nd cut-off 2025: TBD 3rd cut-off 2025: TBD 4th cut-off 2025: TBD 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, PhDProfessional 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) Developing the Unique Selling Points (USP) for the EIC Accelerator Explaining the Resubmission Process for the EIC Accelerator (2024 Update) Investing in Well-Funded Projects: How the EIC is Breaking its Own Rules (EIC Accelerator) Deciding Between EIC Pathfinder, Transition and Accelerator ChatGPT for the EIC Accelerator: Will the Real AI Please Stand Up The EIC’s One-Stop Shop Funding Framework (Pathfinder, Transition, Accelerator) A Short but Comprehensive Explanation of the EIC Accelerator (2025 Update) EIC Accelerator Results: Funding Rates and Circu Li-ion & Iris.AI Success Cases The New EIC Ecosystem, Fast-Track and Pilot Plug-In Schemes (2023 EIC Accelerator Work Programme Part 8) The EIC’s 2023 Strategic Challenges and Topics (2023 EIC Accelerator Work Programme Part 7) ‹ 1 2 3 4 5 … 17 ›