How the EIC Can Incentivise Shorter and Clearer Applications for the EIC Accelerator (SME Instrument Phase 2) - Part 2
Information for readers: The following is a description of a proposed evaluation process but it does not, in any way, reflect the current way EIC Accelerator applications are evaluated. For this, please read this article.
This article is a continuation of Part 1 and is followed by Part 3 and Part 4. It describes a proposed evaluation process for the EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) and investigates the potential mechanisms that can be used by the European Innovation Council (EIC) and European Commission (EC). The way an official proposal template is structured and its general restrictions clearly define the workload of both successful applicants and evaluators which makes a re-structuring the most powerful tool available to change the overall submission experience for all stakeholders from the written application, over the pitch video to the final interview (read: Pitch Deck vs. Proposal).
Written, Visual and Pitch Applications
In 2020, applicants have asked themselves why they were evaluated in one way for step 1 (i.e. written application) while the focus is completely different in step 2 (i.e. a VC-style interview). Being successful in step 1 does not, in any way, guarantee success in step 2 and most remote evaluators for the proposal are likely neither VC's, investors or successful entrepreneurs yet their resource-intensive assessment is still used as the main elimination method.
To facilitate the application process, the most work-intensive steps should come last while the fastest evaluation steps should be in the beginning. The 30-page application is by far the most difficult while a short application, a pitch video or a live-pitch require less work. The EIC Accelerator stages should reflect that and have the simplest tasks in the beginning and the most complex efforts in the end. A tiered hierarchy of effort would exhibit to the following order:
- Executive summary, pitch deck or pitch video (i.e. easy to produce in a few days)
- Short application or interview (i.e. prepared in a few weeks)
- 30-page application (i.e. requires weeks and months)
This list of stages also reflects the reliance of startups on consultants whereas step 1 and 2 can easily be achieved by an SME's management team while step 3 requires a very specific skill-set that is often not found inside startups. If the EIC wants to simplify the application process then the stages should reflect this hierarchy of effort.
The structure of applications and their general limitations define how competitive, difficult and selective the overall process is. The type of the application will define the skill set that is needed to succeed and if the EU wants to avoid funding grantrepreneurs or companies that are only good at grant writing then a full written proposal should not be the first barrier to entry but could be the last or omitted entirely.
Limitations for Proposal Templates
The template restrictions (i.e. page numbers, margins, font size) will define the skills needed in order to apply to the EIC Accelerator which means that the EU has significant control over the entire process. The following is a list of general ways proposals can be simplified while still allowing them to be content-rich.
Separate Subsections
Splitting the main applications into multiple files to simplify the enforcing of restrictions is more useful than a single 30-page PDF-file where restrictions are almost impossible to enforce (i.e. using a font-size of 9 pt instead of 11 pt). These individual files can be in the form of an executive summary, one-pagers (i.e. one for impact, one for excellence, etc.), isolated graphics (i.e. uploads of images with restricted word-counts) or text boxes (i.e. with automatically enforced word-counts). Form-fields can also be an essential part of this approach since financials, expected hiring, costs, future financing rounds can all be part of a questionnaire on the Funding and Tenders platform rather than being in a single application document.
Enforced Word-Count
Limiting the word-count per page will automatically encourage applicants to use illustrations and graphics to visualise their innovation, value chain, financial projections, etc. which are much faster to evaluate than a block of text. When combining a page-limitation with a word-limitation per page, applications will start to heavily incorporate graphics instead of long texts and keep only the essential text parts.
This approach has the additional benefit of allowing companies to rely more on graphic design and visualisation which are skills much more commonly found in even small startups rather than extensive grant writing experience. Graphics are also more useful for a company since they can be reused in presentations and portfolios with while grant writing is not necessary in most cases.
This article continues in Part 3 (see also: Part 1 & Part 4).
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 listed below. 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. Switzerland has resumed its participation in Horizon Europe and is now eligible for the EIC Accelerator.
EIC Accelerator Step 1 Deadline 2025
Contact: You can reach out to us via this contact form to work with a professional consultant.
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Eureka Network: The Eureka Network delivers various international collaborative R&D initiatives such as Network Projects, Clusters, Eurostars, Globalstars, and Innowwide, providing funding from €50K to €6.75M per project based on the specific initiative. This network emphasizes market-driven innovation and deep-tech advancement across multiple technology sectors including ICT/Digital, Industrial/Manufacturing, Bio/Medical Technologies, Energy/Environment, Quantum, AI, and Circular Economy. Eligible participants include SMEs, large enterprises, research organizations, universities, and startups, with Eurostars particularly focused on R&D-performing SMEs. Get Started
EIC Transition: EIC Transition delivers up to €2.5 million in funding to overcome the 'valley of death' gap between laboratory research and market deployment, emphasizing technology maturation and validation. The initiative supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Key technology domains include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics. Get Started
EIC STEP Scale-Up: EIC STEP Scale-Up delivers significant equity investments of €10-30 million for established deep-tech companies prepared for hyper-growth and large-scale expansion. The initiative targets SMEs or small mid-caps with up to 499 employees who have obtained pre-commitment from qualified investors. Primary focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero objectives, and Biotechnologies. Get Started
EIC Pre-Accelerator: EIC Pre-Accelerator represents a 2025 pilot initiative delivering €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. This program is exclusively accessible to single SMEs or small mid-caps from 'Widening countries' to foster regional innovation development. The initiative encompasses deep-tech innovations across physical, biological, and digital domains. Get Started
EIC Pathfinder: EIC Pathfinder delivers up to €3 million for Open calls and up to €4 million for Challenge-based calls to support early-stage research and development with proof-of-principle validation. The initiative requires research consortia with a minimum of 3 partners from 3 different countries, including universities, research organizations, and SMEs. Primary technology focus areas include Health/Medical, Quantum Technologies, AI, Environmental/Energy, and Advanced Materials. Get Started
EIC Accelerator: EIC Accelerator delivers flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The initiative targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Additional technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors. Get Started
Innovation Partnership: Innovation Partnership enables collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The initiative supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects concentrate on addressing societal challenges through collaborative innovation approaches. Get Started
Innovation Fund: The EU Innovation Fund delivers substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The initiative targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Eligible participants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects. Get Started
Innovate UK: Innovate UK delivers various programs with funding ranging from £25K to £10M depending on the specific initiative, supporting business-led innovation, collaborative R&D, and knowledge transfer. The organization funds projects across all sectors with particular emphasis on emerging technologies and supports UK-based businesses, research organizations, and universities. Programs are designed to drive economic growth through innovation and technology commercialization. Get Started
Industrial Partnership: Industrial Partnership delivers €2-10 million in funding for industrial research and innovation partnerships focusing on manufacturing, industrial technologies, and digital transformation. The initiative supports industrial consortia and research organizations in developing collaborative solutions for industrial challenges. Projects aim to strengthen European industrial competitiveness through strategic partnerships. Get Started
Eurostars: Eurostars represents a joint EU-Eureka initiative delivering €50K-€500K for international R&D collaboration specifically led by SMEs. The program adopts a bottom-up approach, accepting projects from all technology fields without predefined thematic restrictions. R&D-performing SMEs must lead the consortium and demonstrate significant R&D activities. Get Started
LIFE Programme: The LIFE Programme delivers €1-10 million in funding for environmental protection, climate action, and nature conservation projects across the European Union. The initiative supports environmental technologies, climate adaptation strategies, and biodiversity conservation initiatives. Eligible participants include public authorities, private companies, NGOs, and research institutions working on environmental and climate challenges. Get Started
Neotec: Neotec represents a Spanish initiative delivering €250K-€1M in funding for technology-based business creation and development, supporting the growth of innovative Spanish SMEs and start-ups. The program covers all technology sectors and aims to strengthen Spain's technology ecosystem. Funding is specifically targeted at Spanish technology-based SMEs and start-ups to enhance their competitiveness and market presence. Get Started
Thematic Priorities: EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas. Get Started
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