How the EIC Can Incentivise Shorter and Clearer Applications for the EIC Accelerator (SME Instrument Phase 2) - Part 3

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 2 (see also: Part 4 & Part 1). 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: Assessing an Innovation).

Feedback Cycles and Proposal Examples

If the EIC wants to develop direct relationships with the applying SME's and develop equality amongst applicants then the communication towards such applicants has to be precise and transparent. The EIC has not published examples of how a successful application should look like and is not providing useful feedback to applicants. As a result, applicants are relying on hiring third parties such as consultancies or professional grant writers who have the experience and insight to know what evaluators are looking for.

Without useful feedback by a human evaluator who has taken the time to write a single paragraph for the rejected applicants and without an actual successful proposal example, the EIC will remain a black-box for SME's and start-ups. The existing manuals for Horizon 2020 are obscure and do not discuss quality writing, business plans and illustrations. Instead, the currently existing manuals give little to no useful guidance to applicants since they focus on discussing environmental-goals and gender equality rather than what a business plan should look like.

A solution to this could be dynamic feedback whereas an evaluator can send a message to the applicants who have the opportunity to respond to a question or critical assessment within a limited time-frame. If this response is reasonable, an evaluator is able to make a more informed decision while data on feedback about evaluators can be gathered internally to identify evaluators that are potentially unqualified or ideally qualified for such applications (i.e. improved match-making).

How an Evaluation Process Could Look Like

Scenario

• Start: 6,000 applications
• Funding available: 100 applications

Round 1 (Remote Evaluation)

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• Applicants provide a one-page executive summary with a 300-word restriction (i.e. graphics with bullet points). This reduces the writing burden significantly, simplifies the evaluation and also reduces the need for SME's to learn EU-specific terminology which is not market-relevant (i.e. impact, excellence, TRL, etc.).
• Inside the submission forms, the applicants' fill out the information on the costs, financial projections, team growth, addressed EU policies (i.e. targets can be linked), gender, GDPR, etc. which can be quickly scanned by evaluators.
• Applicants also upload a 10 min pitch video with full creative freedom (i.e. slide pitch with voiceover or a fully produced video - read: Preparing a Pitch Video)

Evaluation procedure of Round 1

Instead of evaluating each proposal individually, there are topic-based knock-out rounds whereas 3 keyword-matched candidates are compared with each other and the superior project receives the YES while the other two receive a NO grading. This is done by ranking all 3 projects whereas the winner of the three is determined by assessments from multiple evaluators. If there is a draw, two projects can both receive the YES grading or no project can be selected if it was found that they are all ineligible. An additional evaluator can be added in case results are unusual (i.e. a project is ranked first and last by different evaluators)

This process has the benefit of being very fast to conduct while the applications are quick to prepare (i.e. 3 applications can be assessed in under 2 hours). Since determining universal scores through subjective assessments by randomly selected evaluators is impossible anyways, a knock-out process is just as fair and is similar to the VC-like setting in the interview-stage. All applications receive a 300 word-feedback (100 words from each evaluator) which is presented to the applicants in their formal results.

This round also has the benefit of screening the projects for their impact on EU-relevant targets first while the business plan will only be assessed once the EU has determined that this is the type of project it cares about.

Result: 33% or 2,000 applications are selected.

Round 1b (Optional)

This round is internal and does not require any additional work from the applicants. In round 2, the 2,000 selected applicants are matched-up with each other again and are selected by new evaluators in the same manner whereas the result will be another elimination of two-thirds of the applicants. This is an optional round in case the number of applicants is exceptionally high (i.e. when starting with 6,000 applicants) but it can be omitted if the applications are between 1,000 and 3,000.

All applicants receive additional feedback which is added to the previous feedback (if Round 1 is passed) and made available via the evaluation summary report (ESR). All feedback is cumulative which means that the applicants will always receive more information on improvements the further they progressed through the evaluation.

Result: 11% or 667 applications are selected and are awarded the Seal of Excellence.

This article continues in Part 4 (see also: Part 1 & Part 2).

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.

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.

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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