Presenting Customer Interest for a Successful EIC Accelerator Application (SME Instrument Phase 2) Posted on May 27, 2020October 9, 2020 By Stephan Segler, Ph.D. Next to outlining the innovative nature of a project, being able to demonstrate customer interest (i.e. traction) is a key factor for the success of an EIC Accelerator application. Like most other recommendations, this criteria is not an official requirement to be eligible for the financing but the evaluation checklist specifically asks if the applicant’s customers have demonstrated willingness-to-pay which makes it essential to address this point. It is possible to receive funding without demonstrating any traction but only if other evaluation criteria were to excel and compensate for the lacking criteria but this is an unlikely scenario. Traction does not necessarily mean revenues since material contributions, access to facilities or simple support letters can be just as valid depending on the industry. The central narrative should communicate that the innovation is not only better than the competing products but is also highly sought after. This also extends to a well-positioned value-chain with suppliers and logistics being in place to present a well-supported and thought-out project. If the following questions are answered with yes then the innovation is in a good commercial position: Are you already in contact with customers and have these expressed interest? Do you have active users or have received promising feedback? Can you obtain proof of interest, i.e. letters of support/intent, revenues or user statistics? Do you have a clear value chain, i.e. hardware suppliers, certification authorities or servers? This article was last modified on Oct 9, 2020 @ 11:18 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. 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) EIC Accelerator Horizon 2020 Phase 2 SME Instrument / EIC Accelerator EIC Accelerator financingEIC Accelerator successHardwareIndustries & CompaniesInvestorsSME Instrument Phase 2StatisticsWriting Tips
EIC Accelerator Designing Images for an EIC Accelerator Application (SME Instrument Phase 2) – Part 1 Posted on October 22, 2020October 18, 2020 The EIC Accelerator grant or blended finance program (incl. equity option, formerly SME Instrument Phase 2) is a highly competitive funding scheme by the European Union and the European Innovation Council (EIC). While the formatting and proposal design should not be the first thing to focus on, without it, the… Read More
EIC Accelerator EIC Accelerator Interviews: Pitch Deck vs. Proposal Documents (SME Instrument) Posted on June 4, 2020October 9, 2020 The EIC Accelerator (SME Instrument) grant program follows a two-step evaluation process consisting of a written application (step 1) and an in-person interview (step 2). Each evaluation stage is equally important but, due to the differing mechanisms for scoring a respective project, the approach for preparing the individual parts of… Read More
Horizon 2020 SME Instrument 2018 Changes Posted on March 19, 2019March 18, 2020 Before 2018, there were pre-defined industries (13 in total) which could apply to the SME Instrument. Starting February 2018, the funding is available to projects of all industries with no topic restrictions. The budgets and competitiveness of the old topics were highly disproportionate so this new development might level… Read More