This article is a continuation of Part 1 and presents a proposed workflow for the creation of a pitch video for the EIC Accelerator blended financing program (formerly SME Instrument Phase 2 – grant and equity financing). Due to the new process under Horizon Europe (2021-2027), the pitch video will be an additional barrier for startups and Small- and Medium-Sized Enterprises (SME) to apply for the grant financing and increase their reliance on consultancies and professional writers (read: Relying on Consultants).
Since the official proposal template and work programme will likely not provide sufficient guidance, the following content aims to remedy the most pressing concerns of future applicants (read: EIC Accelerator Introduction).
1.2 Discussing the Resources Available
The KOM should likewise be used to clarify the resources and capabilities an applicant has at their disposal. This includes the available footage (i.e. produced videos, features, animations) and the available hardware such as cameras, lights and related equipment (read: Types of Pitch Videos). Many smartphones can already record high-definition (HD) footage while Digital Single-Lens Reflex (DSLR) cameras are quite common as well.
Lastly, the SME’s team should clarify the locations and capabilities of their members so that tasks can be distributed accordingly and the shooting of the pitch video can be timed appropriately. If some employees have experience with video production then the process can be facilitated greatly while having all of the team members meet in a single location for a joint video can be beneficial.
1.3 Guidance for Best Practises
If no suitable expertise is available in a startup, the consultancy should provide a shortlist of best practises helping the team to maximize the quality of the production. These should include tutorials, Frequently Asked Questions (FAQ), tips & tricks as well as recommendations for camera settings, lights and related topics.
Most of this information is easy to learn and readily available but a brief guideline targeted at short EIC Accelerator grant pitch videos is expected to significantly benefit the production quality. If the team has no time to perform the shooting themselves, an external videography team can also be contracted for an on-site project.
1.4 Creating the Script
Before the shooting begins, the script should be prepared by the professional writer or consultant so that the production can be planned in advance. The script should clearly identify the content, speakers and setting so that the applicant understands the requirements and resources that are needed.
Preparing a script is complementary to the proposal writing and the pitch deck creation with the exception that the storytelling can be much more creative. The storyline of the video should be clear to all participants and care should be taken that the script is rich enough to not require any additional footage collection at a later stage. It is better to include additional content in the first script but cut it from the final video rather than to shoot less but then require a re-shoot at a later stage.
1.5 Screen Test (optional)
After the script has been created, the company should proceed with a first screen test where the team takes a few hours to create the video content to the best of their abilities. This includes the set-up of the lighting, camera settings, microphone and the final recording at the respective set.
This stage is supposed to be a low-stakes practise run but, if the footage is high-quality, it could be directly used for the pitch video. Once the screen test has been recorded, it can be reviewed and discussed with the consultant or writer to optimize the content, script and execution of the shoot.
1.6 The Real Recording
After the screen test has been reviewed and the script and execution have been corrected, the applicant will take a second day to perform the recording and collect all of the required footage. This 2-stage production will likely provide superior results and allow the creation of a high-quality end product with little effort or overhead.
1.7 Editing and Exporting the Pitch Video
Lastly, the editing of the footage can be performed either by the consultancy, a third-party contractor or a team member of the startup depending on how responsibilities have been distributed in the agreement. The editing will be an essential step to assure that colour grading, basic corrections, audio enhancements as well as related aspects are all exhibiting the highest quality.
Afterwards, the final video can be exported in the appropriate format and be ready for the first submission.
A process for the remote production of the EIC Accelerator pitch video could be structured as follows:
- Planning the Process: Discussing the core responsibilities of the shoot.
- Discussing the Resources Available: Reviewing the availability of equipment and skills.
- Guidance for Best Practises: The provision of guidelines to facilitate the production.
- Creating the Script: Developing a comprehensive script to avoid re-shoots at a later stage.
- Screen Test: A practice run (optional).
- The Real Recording: Recording the final video footage.
- Editing and Exporting the Pitch Video: Editing to increase the quality and export within file size restrictions.
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) will likely be on March 23rd 2022, June 15th 2022 and October 5th 2022 under Horizon Europe. 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:
- EIC Accelerator Interviews: Pitch Deck vs. Proposal Documents (SME Instrument)
- Choosing a Good Project for the EIC Accelerator (SME Instrument Phase 2)
- The EIC Accelerator Budget: Grant vs. Blended Finance (SME Instrument Phase 2)
- EIC Accelerator – Introduction and Blended Finance (SME Instrument Phase 2)
- EIC-Accelerator Writing: Providing the Missing Link (SME Instrument Phase 2)
- The Biggest Mistakes When Applying to the EIC Accelerator (SME Instrument Phase 2)
- Identifying a Broad Vision for an EIC Accelerator Project (SME Instrument Phase 2)