How the EIC Accelerator Funds Technology Readiness Levels (TRL) (SME Instrument) Posted on June 8, 2020October 9, 2020 By Stephan Segler, Ph.D. The Work Programme for the EIC Accelerator (SME Instrument Phase 2) clearly defines the type of innovation that is eligible for the financing and, outside of general considerations, outlines the exact stages a technology has to be in. These stages are classified through Technology Readiness Levels (TRL – see this article for a general explanation). Understanding the TRL’s is important since they will need to be detailed in the application (i.e. in the technology description) and will also have to be referenced in sections regarding the work packages, the investment needs and the project roadmap. How TRL’s are Funded The European Commission (EC) funds TRL51 to TRL8 via a pure grant or via blended finance (i.e. a mix between a grant and equity financing – see this article). TRL9 activities are only financed through pure equity (i.e. a separate work package for pure equity when requesting blended finance) while, in case no equity is requested, the financing of TRL9 activities must be explained separately. It should also be noted that, while it is possible to request a pure grant or a mix of grant and equity (i.e. blended finance), it is not possible to receive pure equity financing under the EIC Accelerator as of 2020 (i.e. it must be blended finance if seeking equity). European startups that are already above TRL8 are currently ineligible for this type of funding. What Needs to be Considered It is important to adhere to the funding structure outlined in the Work Programme and the proposal template since any incoherences might be negatively impacting the proposal evaluation. If details regarding TRL’s were to be neglected by a writer or consultant, it might make the application appear less professional and place doubt on other sections as well (i.e. the financials or the financing needs). In practice, it is useful to always refer to the TRL’s when discussing the project’s developments at different stages especially when describing the conditions of the market introduction, the past financing rounds, post-project financing or the deliverables of work packages. A successful Phase 2 application must be as complete and coherent as possible which make plausible TRL justifications an important aspect. Further information on how the funding for the EIC Accelerator (SME Instrument Phase 2) is distributed (i.e. grant, equity, blended, co-financing) can be found in this article (Grant vs. Blended Finance). This article was last modified on Oct 9, 2020 @ 11:12 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 1st cut-off 2025: - 2nd cut-off 2025: TBD 3rd cut-off 2025: - 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. AI Grant Writer: ChatEIC is a fully automated EIC Accelerator grant proposal writer: Get it here. 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) Notes 1: The minimum TRL for the EIC Accelerator is TRL5 according to the Work Programme but is TRL6 according to the current Evaluation Criteria (see: Criterion 2.2 in Using the Evaluation Summary Report (ESR) to Improve Grant Proposal Writing). This will likely be unified in the next instalment of the EIC Accelerator and it can be assumed that TRL5 is the allowed minimum. EIC Accelerator Horizon 2020 Phase 2 SME Instrument / EIC Accelerator EIC Accelerator consultantEIC Accelerator equityEIC Accelerator financingEIC Accelerator grantEIC Accelerator templateEIC Accelerator writerIndustries & CompaniesInvestorsSME Instrument Phase 2Writing Tips
EIC Accelerator EIC Accelerator Results: Funding Rates and Circu Li-ion & Iris.AI Success Cases Posted on December 21, 2022February 28, 2024 The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity) has recently closed its last funding round of 2022 (see Deadlines). Following the multi-step grant application process, the last Step 2 deadline was set on October 5th while the interviews for Step 3 were being conducted in… Read More
EIC Accelerator How a Consultant can Produce an EIC Accelerator Pitch Video Remotely (SME Instrument) – Part 2 Posted on February 10, 2021February 4, 2021 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… Read More
EIC Accelerator Why it’s Important to Have a Diverse Grant Strategy (EIC Accelerator, SME Instrument) – Part 1 Posted on February 18, 2021February 15, 2021 Public grants are a popular avenue for Small- and Medium-Sized Enterprises (SME) and startups since they often provide a simple application process to receive substantial financial support. One of the distinct benefits of grant funding is its often strong policy-focus while commercial and financial factors of the business tend to… Read More