Tag Archives: EIC Accelerator help

The New EIC Ecosystem, Fast-Track and Pilot Plug-In Schemes (2023 EIC Accelerator Work Programme Part 8)

The EIC Accelerator funding (grant and equity, with blended financing option) awards up to €2.5 million in grant and €15 million in equity financing per project (€17.5 million total). It is a popular funding instrument specializing in DeepTech startups and small mid-caps which aim to finalize their product developments, enter the market and scale globally.

The EIC’s 2023 Work programme

While the European Innovation Council (EIC) has remained silent regarding the 2023 Work programme that is yet to be released, ScienceBusiness has published the second draft of the highly anticipated document dated July 2022. This article series is exploring some changes and interesting aspects of the EIC Accelerator that are relevant for startups and Small- and Medium-Sized Enterprises (SME) and for professional writers, freelancers or consultants.

ScienceBusiness has likewise published the entire library of Horizon Europe documents by the European Commission (EC) that are mostly in draft form and can be found here.

All the information and conclusions provided in this article are subject to change and the opinion of the author. The following statement by the EIC is part of the 2023 EIC Work Programme draft that this article is based on:

“This document represents a working draft of the EIC work programme for the purpose of feedback and comments from members of the Horizon Europe Programme Committee for the EIC and European Innovation Ecosystems. This draft has not been adopted or endorsed by the European Commission. Any views expressed are the views of the Commission services and may not in any circumstances be regarded as stating an official position of the Commission. The information transmitted is intended only for the Member State or entity to which it is addressed for discussions and may contain confidential and/or privileged material.”

The EIC Ecosystem

In 2021, it was leaked that the EIC is aiming to create an ecosystem not only for DeepTech companies but also for investors, consultancies, coaches and other relevant stakeholders.

“The idea of the platform is to allow […] any applicant at a given moment where he needs […] support from someone […] access to an ecosystem platform […] where he will find different actors but also those private companies, consultants who want to partake into the exercise to be referenced in this in the system and to offer their service. Now, they will have to pay something, a fee to be referenced.”

Nicolas Sabatier (General Counsel & Adviser to the EIC/EISMAE) via AI Tool EIC Training for NCPs 11th12th March 2021, quoted at 1:52:09

While the vision of a subscription-based service might still be far in the future, its first iteration is on the way.

“From 2023, the EIC BAS services will be expanded through EIC Ecosystem Partners which can include, for example, investors, business angels, mentors and coaches, innovation agencies, business associations, clusters, accelerators, incubators, technology transfer offices, venture builders, etc. EIC BAS services provided by Ecosystem Partners includes access to existing incubation and acceleration programmes as well as services specifically designed in collaboration with EIC.”

Especially the search for co-investors is an exciting prospect for applicants since it can help them gain access to EIC Financing without being forced to find private lead investors by themselves.

“The EIC will also continue to directly manage a core set of business acceleration services which provide a clear added value, which include: A platform for EIC Accelerator companies in receipt of equity investment to find co-investors”

Fast Track and Pilot Plug-in Schemes

The EIC’s 2023 Work Programme continues to offer fast-track and plug-in schemes whereas a company funded under specific EU grant or equity financing projects can cross-migrate into the EIC Accelerator application process without having to start from scratch.

“Full proposals to the EIC Accelerator stemming from the Fast Track scheme will be assessed as set out in Section IV, and will be treated in exactly the same way as all other full proposals.“

“In 2023, the funding bodies and schemes which are eligible for the Fast Track for EIC Accelerator cut-off dates are:

  • The EIC Pathfinder and EIC Transition projects (including under EIC pilot);
  • The Knowledge and Innovation Communities (KICs) supported by the European Institute of Innovation and Technology (EIT);
  • The Eureka secretariat for SMEs supported under the Eurostars-2 Joint Programme and the Partnership on Innovative SMEs;
  • Companies supported by the WomenTech.EU programme.”

“Under the Plug-in scheme, applicants do not apply directly to the EIC Accelerator call (Section IV). Instead, a project review is carried out by the certified national or regional programme to assess the innovation or market deployment potential of an existing project supported by the programme, and to decide whether the project is suitable for support under the EIC Accelerator.”

Both mechanisms seem beneficial to applicants on the surface but they are, unfortunately, of limited use. Fast track and plug-in schemes only allow applicants to skip the first of the three evaluation steps (i.e. the Step 1 short application) but this is also the easiest step in the entire process.

If a company can skip Step 1 which consists of a pitch deck, a video and a written proposal then this also means that there is no video for the project that the Step 2 evaluators and the Step 3 jury can look at which can be a disadvantage (read: EIC Accelerator Pitch Video).

Of course, a company can decide to upload a Step 1 video retroactively even if they have been allowed to skip this step which is highly recommended.

“Applicants will then be invited to prepare a full proposal for the EIC Accelerator to one of the cut-off dates within the next 12 months following initial review. […] Full proposals to the EIC Accelerator stemming from the Plug-in scheme will be assessed as set out in Section IV (above) and will be treated exactly the same way as all other full proposals.”

Note: The term “full proposal” refers to the Step 2 application consisting of a detailed business plan.

What further questions the usefulness of the fast track and plug-in programs is the fact that the Step 2 application re-uses a substantial amount of the text from the Step 1 application. In fact, one can use 100% of the text written in Step 1 for the Step 2 application which means that, even if a company skips Step 1, they still have to fill all of these Step 2 sections from scratch.

Considering the limited effort required for the preparation of a Step 1 proposal, their high success rates and the fact that the text, video and pitch deck would need to be prepared for Step 2 anyways, the fast track and plug-in schemes are of little practical benefit. An exception would be a case where a company has significant time restrictions and must unlock the Step 2 EIC Accelerator template in the online platform as soon as possible to meet the next cut-off.

Outlook

A truly useful fast track or plug-in scheme would allow a direct application to the Step 3 interviews especially if the plug-in scheme has already performed additional due diligence on the project specifically for the EIC Accelerator. Step 2 is the most difficult step of the EIC Accelerator program but it is understandable that the EIC aims to retain the integrity of the full application process since it could otherwise compromise the quality of projects reaching the Step 3 interviews.

This article is part of a series whereas the remaining articles can be found here, once published:


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

The EIC’s 2023 Strategic Challenges and Topics (2023 EIC Accelerator Work Programme Part 7)

The EIC Accelerator funding (grant and equity, with blended financing option) awards up to €2.5 million in grant and €15 million in equity financing per project (€17.5 million total). It is a popular funding instrument specializing in DeepTech startups and small mid-caps which aim to finalize their product developments, enter the market and scale globally.

The EIC’s 2023 Work programme

While the European Innovation Council (EIC) has remained silent regarding the 2023 Work programme that is yet to be released, ScienceBusiness has published the second draft of the highly anticipated document dated July 2022. This article series is exploring some changes and interesting aspects of the EIC Accelerator that are relevant for startups and Small- and Medium-Sized Enterprises (SME) and for professional writers, freelancers or consultants.

ScienceBusiness has likewise published the entire library of Horizon Europe documents by the European Commission (EC) that are mostly in draft form and can be found here.

All the information and conclusions provided in this article are subject to change and the opinion of the author. The following statement by the EIC is part of the 2023 EIC Work Programme draft that this article is based on:

“This document represents a working draft of the EIC work programme for the purpose of feedback and comments from members of the Horizon Europe Programme Committee for the EIC and European Innovation Ecosystems. This draft has not been adopted or endorsed by the European Commission. Any views expressed are the views of the Commission services and may not in any circumstances be regarded as stating an official position of the Commission. The information transmitted is intended only for the Member State or entity to which it is addressed for discussions and may contain confidential and/or privileged material.”

The EIC Accelerator Open and Strategic Challenges

The 2023 Work Programme of the EIC is outlining the newest Strategic Challenges for the EIC Accelerator. These are renewed every year alongside the new Work Programme implementation and have separate allocated budgets. It is common that the EIC Accelerator Open and the EIC Accelerator Challenges have a comparable budget while the chances of success could be higher in the thematic challenges due to the strict topic limitations.

This is due to the smaller number of applicants compared to the EIC Accelerator Open which has no thematic restrictions but this might be irrelevant since the EIC has announced that the Strategic Challenges budget will be transferred to the EIC Accelerator Open if there are not enough applicants available. Of course, the applicants for the Strategic Challenges still retain first priority for their respective budgets.

“However, if there is insufficient applications selected for funding for a Challenge, the budget will be transferred to the other Challenges. In case there is insufficient applications selected for all the Challenges, the remaining budget will be transferred to the Accelerator Open.”

As given in the EIC’s draft Work Programme 2023, the seven new EIC Accelerator Challenges are:

Challenge 1: Novel biomarker-based assays to guide personalised cancer treatment

Specific objectives

“The overall goal of this Challenge is to support and accelerate the preclinical validation and/or clinical phase 1 work carried out by innovative SMEs (including start-ups, spinouts) and small midcaps to develop novel predictive, prognostic and companion diagnostic assays to guide cancer treatment. This Challenge has the following specific objectives:

  • develop novel companion diagnostic assays , including through liquid profiling; to identify who, among cancer patients, is more likely to benefit from a given treatment (guided treatment);develop novel predictive biomarker-based assays to identify who, among patients with potentially precancerous lesions, is more likely to develop cancer;
  • develop novel prognostic assays including through liquid profiling to identify who, among the cancer patients who underwent treatment, is more likely to recur;
  • develop novel companion diagnostic assays, including through liquid profiling to identify who, among the cancer patients receiving treatment, is more likely to develop side effects as a result of the treatment and
  • to develop novel monitoring biomarker-based assays to effectively monitor the clinical course of the disease.”

Expected outcomes and impacts

“As expected outcomes from this Challenge, clinicians will be able to:

  • Identify, who among cancer patients, is more likely to benefit from a given treatment (guided treatment)
  • Identify, who among patients with potentially precancerous lesions, is more likely to develop cancer
  • Identify, who among the cancer patients having underwent treatment, is more likely to recur
  • Identify who among the cancer patients receiving treatment, is more likely to develop side effects as a result of the treatment, affecting their quality of life and
  • More effectively monitor the clinical course of the disease”

Challenge 2: Aerosol and surface decontamination for pandemic management

Specific objectives

“The proposals should target the development and commercialisation of technological solutions facilitating social interaction in the context of pandemic emergencies, by means of one or more of the three following approaches:

  • Full systems for high-efficiency aerosol capture, pathogen deactivation and air circulation management in closed-environments (e.g., office space, in-flight, retail stores, etc.), including advanced air-filtering architectures and dynamic air circulation optimisation.
  • Next-generation face mask technologies with smart filtration materials to exceed N95 performance at low airflow resistance, with improved retention/rejection of sub-micron particles.
  • Rapid surface decontamination devices beyond state-of-the-art UV-C irradiation systems and biocidal agent dispersion.

Where advantageous, pathogen profiling sensors and sub-systems could be integrated with air renewal systems, face masks or surface decontamination devices to provide quasi- real-time information on pathogen presence for rapid decision making and/or autonomous optimisation of air circulation.

The proposals should provide preliminary evidence demonstrating that social distancing can be avoided or substantially reduced, under realistic pathogen infectivity assumptions, with the targeted technologies.”

Expected outcomes and impacts

“By reducing the need for social distancing in the event of infectious pandemics, this Challenge will empower society at large to sustain unaltered economic and social dynamics in the event of pandemic outbreaks.”

Challenge 3: Energy storage

Specific objectives

“This Challenge targets groundbreaking innovations in any field of technology that have a high potential to meet the following goals:

  • to store electric and/or thermal energy at low cost, high density, high charging/discharging efficiency and enhanced durability.
  • technological approaches (chemical, electrical, electrochemical, mechanical, thermal) for energy storage at different scales (centralized at large industrial facilities premises or distributed and at small scale level – mobile electronics), duration (short – millisecond to day, medium – days to month and long term – months to seasons) and uses (from stationary to mobile).
  • technologies that, without using critical raw materials or ensuring their full recycle/reuse, minimize their carbon footprint measured through a life-cycle analysis (including cost and social impact evaluation). The proposed technologies could also address the smart operation and control of storage assets, their integration with demand response strategies, predictive maintenance, load forecasting and decentralized renewable energy technologies.”

Expected outcomes and impacts

“The possibility to store electrical or thermal energy at low cost, high density, high charging/discharging efficiency and for different duration (from short to long) will:

  • enable a strong penetration of intermittent renewable energy resources by addressing the spatial and temporal mismatches between generation and demand,
  • set up decarbonized, interconnected, sector-coupled and flexible energy systems.
  • Increase Europe’s energy independence from unreliable suppliers”

Challenge 4: New European Bauhaus: Digitisation for sustainable and inclusive built environment

Specific Objectives

“The call aims to enable a paradigm by supporting deep tech ventures that can deliver disruptive new products and services for a digitised value chain with a focus on:

  • Computational design. ventures that develop and scale radical new products for mass-adoption of parametric, generative and algorithmic design, pushing the boundaries of physical simulation, digital twin;
  • Alternative materials. ventures active in the development, production, advanced application of alternative building materials, or building concepts, building elements, design+fabrication concepts (e/g stereotomy 2.0) based on advanced uses of alternative materials.
  • Digital fabrication. ventures developing and commercializing scalable 3Dprinting, robot assisted composites, factory and field robotics, automation products, digital molds, distributed building factories.”

Expected Outcomes and Impacts

“The overarching objective of this Challenge is to provide transformative digitally enabled solutions for the construction sector that can help it achieve climate neutrality while providing inclusive and high quality products.

The focus will be on achieving a reduction in embodied rather than operational carbon emissions. Socio-economic impacts include higher productivity, higher product quality, reduced material consumption and waste, improved construction logistic in the urban environment and increased economic impact without compromising on quality or safety.

This approach will also lead to higher quality jobs in a more progressive and appealing sector that can deliver a step-change in the overall quality of the social experience with the built environment.”

Challenge 5: Quantum computers hardware and real environment quantum sensors

Specific objectives

“The objective of this Challenge is to support ground-breaking innovations that have a high potential to develop:

  1. Next-generation fault-tolerant quantum computer(s) with:

    1. improved performance;
    2. significantly simplified QC integration with control electronics;
    3. scalable control systems (scalable to tens of thousands of qubits, needed for meaningful practical applications);
  2. Quantum sensors to function in real/harsh environment for various application areas, such as ecotoxicology, pharmaceuticals, biomedical, space, corrosion detection in power plants, gas/oil tanks, raw material detection, medical imaging, automotive and many more.”

Expected outcomes and impacts

“This Challenge is expected to support EU in taking a leading role in the development of cutting edge quantum computing and quantum sensors that can be used in real environment and deployed in various areas such as medical devices, pharmaceuticals, materials science, defence, space, etc.

In mid and long term, this challenge is expected to expand the quantum capabilities of Europe, underpin its economic resilience and digital sovereignty. It should pave the way for Europe to be at the cutting edge of quantum capabilities by 2030 as envisioned by the 2030 Digital Compass: the European way for the Digital Decade.”

Specific conditions

“Applications to this EIC Accelerator Challenge may request an investment component of above EUR 15 million in duly justified cases.”

Challenge 6: Sustainable and resilient agriculture

Specific objectives

  1. “Design, development and evaluation of interdisciplinary solutions for regenerative agriculture and soil health in the areas of

    1. Fertilisation
    2. Crop protection
    3. Irrigation
    4. Tillage
    5. Soil and crop management
  2. Radical innovations in precision fermentation for the food sector, including but not limited to mycoproteins.

  3. Radical innovations in the area of natural solutions for carbon management and valorisation (carbon farmingcarbon stock in the soil, etc)

  4. Novel processes, materials, equipment, crops and microorganisms adapted to harsh environments, climate adaptation needs and resource scarcity.”

Expected outcomes and impacts

“This Challenge aims to improve the resilience and security of the European food supply chain, notably by maintaining and improving crop yield with environmentally friendly technologies, all while regenerating and increasing soil health. By aiming to valorise crop residues, this Challenge also aims to contribute to better carbon and nitrogen management practices, to mitigate climate change.

In doing so, the results arising from this challenge will foster the EU technological autonomy and leadership via focused support of innovations in the areas of sustainable and resilient agricultural production, food security, biodiversity and environmental protection. The challenge also aims to reduce the EU dependency from critical supply chains and strengthen the EU innovation ecosystem competitiveness in the strategic sectors of ecologic transition and clean, secure and cheap energy provision.”

Challenge 7: Customer driven, innovative space technologies and services

Specific objectives

“The overall goal of this challenge is to ensure Europe is able to service and protect its own Space infrastructure, avoiding the risk of losing its strategic autonomy over its own space assets, while enhancing the competitiveness of its space industry through encouraging the emergence of innovative, interoperable, scalable, and autonomous “customer-driven” innovative space technologies.

In terms of technological developments, the specific objectives of the call are:

  • To have the means to inspect spacecraft in orbit, to augment satellite capabilities and resilience;

  • To develop autonomous and in-space collision avoidance capabilities e.g., use of AL/ML for collision avoidance manoeuvres, space debris positioning data and develop in-space mobility propulsion capabilities;

  • To further mature self-assembly of spacecraft in orbit with different applications (e.g., in-orbit, cis-lunar exploration, Earth observation, space debris inspection, space situational awareness, etc.);

  • To collect and recycle space debris or recovering intact components from nonoperational satellites or cut dysfunctional satellites turning them into metal rods for potential fuel;

  • To refurbish upper stage of launchers and transform them into microgravity platforms;

  • To design and construct a R&I low Earth orbit unmanned modular platform assembled in orbit and to host in-orbit microgravity experiments or collect/reuse space debris;

  • To develop innovative technologies for Earth observation, navigation, satellite communications (SATCOM), space science, space situational awareness (SSA) and in-space logistics needing in-orbit demonstration and in-orbit validation (IOD/IOV).”

Expected outcomes and impacts

“This Challenge aims at developing:

  • an EU servicing and re-use/recycling capability for servicing EU space infrastructure, while contributing to the management and reduction of space debris;

  • timely and cost-effective Space Traffic Management services for on-time collision avoidance manoeuvres;

  • the re-use, refurbish or recycling of a spacecraft components or launchers upper stages scientific and technological solutions for in-orbit services and reuse/ refurbishing and recycling of old spacecraft (e.g. satellites, rockets upper stages, etc.);

  • Innovative propulsion solutions for in-space mobility of spacecraft”

Specific conditions

“Where relevant, companies supported under this Challenge will have access to in-orbit demonstration and testing facilities financed under Horizon Europe.”

This article is part of a series whereas the remaining articles can be found here, once published:


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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 2022 Results and the Vanevo GmbH Success Case

The EIC Accelerator funding (grant and equity, with blended financing option) by the European Innovation Council (EIC) and European Commission (EC) has recently closed its latest financing cut-off with a total budget of €396.7 million (read: Diverse Grant Strategy).

The 75 winners are startups and Small- and Medium-Sized Enterprises (SME) from 21 countries who requested grant and blended financing support back in June 2022 and, after passing all evaluation steps, they have finally been rewarded (read: Interview Preparation Process).

The EIC program awards up to €2.5 million in grant and €15 million in equity financing per project (€17.5 million total) which provides a lucrative option for startups that are currently building innovative projects, especially those in the DeepTech space.

With the official proposal template having grown in size due to the latest change in the application framework, many companies rely on external consultants, professional writers or freelancers to help them prepare a successful application but it is very feasible to perform such a grant proposal in-house (read: Consultancies for the EIC Accelerator).

EIC Accelerator Results June 2022

The EIC has announced the latest cut-off results online (PDF, Web, Twitter) and the following statistics can be extracted.

Success Rates

986 Step 2 applications were received in the June 15th cut-off with 74% applying for the EIC Open as opposed to the Strategic Challenges. 638 companies (65%) requested blended financing while 158 (16%) requested grant-only and 190 (19%) grant-first.

When regarding the success rates from Step 2, this yields the following percentages for each application type:

  • Grant-first: 24 of 190 applicants succeeded with a 12.6% success rate.
  • Grant-only: 8 of 158 succeeded with a 5.1% success rate
  • Blended financing: 43 of 638 succeeded with a 6.7% success rate
  • Overall: 75 of 986 gives an average success rate of 7.6%

It is important to note that the Step 1 success rates of 50-80% have to be included in the assessment which will lower success rates slightly. It is also interesting to consider that 7 out of the 8 grant-only winners are from the UK who only had the grant-only option. This can be a sign that the EIC wants to avoid handing out pure grants without the chance of following up with the EIC Fund’s equity at a later stage (grant-first) or right away (blended).

Grant vs. Equity

Grant-first: 24 Companies (or 32%) are receiving grant-first contributions which is the model where a company is looking to cover innovation activities up to TRL8 with the EIC contribution. These companies can choose to apply for the EIC Fund’s equity at a later date to reach TRL9 (read: Inside Look into the EIC Fund).

Blended financing: 43 Companies (or 57%) are receiving blended financing which includes both the grant and the EIC Fund’s equity contribution and the expected end of the project is TRL9 (read: Technology Readiness Levels).

Grant-only: 8 Companies (or 11%) have decided to apply for grant-only support with the goal of reaching TRL9. Since this is the only available funding option for UK companies, it is unsurprising that 7 out of the 8 grant-only winners are from the UK.

In total, 43% of all funded companies receive a pure grant while 57% are receiving a mix of grant and equity financing while there are no companies who will receive equity-only support.

Geography

From a geographical perspective, the winners are located in:

  • 13 in France,
  • 8 in Germany,
  • 7 in the United Kingdom,
  • 6 in the Netherlands,
  • 5 in Sweden,
  • 4 in Austria,
  • 4 in Ireland,
  • 4 in Israel,
  • 3 in Belgium,
  • 3 in Finland,
  • 3 in Norway,
  • 3 in Spain,
  • 2 in Denmark,
  • 2 in Italy,
  • 2 in Portugal,
  • 1 in Czechia,
  • 1 in Estonia,
  • 1 in Greece,
  • 1 in Iceland,
  • 1 in Romania,
  • 1 in Slovenia.

Only 21 countries are represented among the winners which means that countries such as Luxembourg, Bulgaria, Latvia or Cyprus as well as all other third countries have had no approved projects during this cut-off.

Budget

Considering the EIC’s statement that 88% of applicants receive grant and equity financing and that there are no equity-only projects during this cut-off, the 32 companies receiving grant-only or -first support are sharing 12% of the total €396.7M budget yielding an average grant of €1.49M.

Vanevo: Successful Grant Application

Vanevo is setting a new standard for RedOx flow batteries through their platform technology approach. By reinventing and simplifying the manufacturing process of the battery stack and delivering a uniquely versatile and scalable business model, they are able to accelerate the mass adoption of RedOx flow technologies in critical sectors that require long-term energy storage.

Supported by Segler Consulting, Vanevo was awarded the EIC Accelerator grant in October 2022 which will allow them to reach commercial readiness and realise their vision of low-cost, sustainable and low-emission energy storage.


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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 Interview Preparation Process: Jury Considerations (Part 3)

One could argue that the Question & Answers (Q&A) session that is part of the EIC Accelerator interviews requires a significant amount of the overall preparation time. With a length of up to 35 minutes after the 10-minute pitch by the startup or Small- and Medium-Sized Enterprises (SME), it can make or break a fund-raising application.

In this third part of the EIC Accelerator interview guide, the focus will be on the Q&A. This article aims to provide suggestions as to how a company can prepare and be in the ideal position to succeed during the EIC’s pitch week.

Since most companies are used to having long-lasting investor conversations prior to facing a final investment decision, even experienced management teams often have to adjust and practise for this particular, fast-paced interview session.

Core Rules

  1. Be aware of EIC rules and agendas (i.e. what the jury is looking for)
  2. Do not give the jury a reason to reject you (i.e. no red flags)
  3. Do not get cornered on a topic that is of no benefit (i.e. no wasted time)

Note: This article focuses on strategies for practising Q&A sessions while the next articles will focus on how answers can be improved and developed.

How To Practise (The Mock-Jury)

Rapid-Fire Questions

When practising for the pitch interview, it is often difficult to simulate a stressful environment or have supporters who can project the demeanour that is needed for such a practice. But this is an essential part since:

We don’t rise to the level of our expectations, we fall to the level of our training.

– Archilochus

If a startup is working with a consultancy or professional writing team then they can take this role but, as a precaution, every applicant team should also make an effort to create such sessions internally. Since nobody wants to alienate their co-workers or partners with a stressful questioning session, a simple way of creating pressure is to add interruptions.

As an example: When the mock jury member asks a particular question on a certain aspect of the project which the interviewee then responds to, the questioner proceeds to cut off the answer with a follow-up question within 10-20 seconds, at a point where it is confusing, too slow or irrelevant. By using this approach, one can simulate being caught off-guard since the follow-up questions will inevitably force the interviewee to make their answers more succinct. It will likewise allow the questioner to quickly screen for weaknesses in the responses and, through multiple follow-ups, find additional areas that must be prepared in detail prior to the pitch.

Example (Interviewee / Mock-Jury)

  • What is your business model?
  • We have a SaaS business. We sell access to our software mainly to Universities and research institutes so–
  • How do universities pay you? Have you demonstrated willingness-to-pay or do you face long tendering processes?
  • Well, we do not have revenues yet but we have pilot tests with some institutes and they have told us that they would pay for this. We also have–
  • So this is unproven. Have you demonstrated willingness-to-pay in any core customer segment?
  • Well…

Recommendation

During the entire Q&A practice, it is beneficial to make interruptions a habit since these will help everyone involved to self-correct their answers and polish them in their minds before they answer. The worst practice environment for a Q&A is one where the team has unlimited time and is allowed to brainstorm as they answer the question or even discuss the answers with their colleagues. The idea is to generate a sharp answer and then move on to the next one. Developing better answers can be done afterwards.

For the mock-jury, the rule is to make almost no answer go uninterrupted.

The Devils Advocate

It is often very difficult to find someone who is able to ask good and tough questions. Consultants and writers will know the project very well while employees, investors and others will likely also be overfamiliar with the company. Additionally, since many DeepTech companies have to guard their Intellectual Property (IP), they often do not want to include additional parties in the process just to ask a few questions.

A solution can be to hire an external party since there are a variety of pitch coaches who specialise in this type of training and can be a suitable support option.

Playing the devil’s advocate can also be done with existing consultants or internal team members since the rule is simple:

Pretend that you do not know the answer and ask the worst possible questions.

Especially if you already know the technology in and out, you will know the business model, the customers and all of the weaknesses, risks and uncertainties. To develop good questions, one should look at the project in the most negative light possible. The idea is to take the side of the competitors or those who would criticise the project.

Example (Interviewee / Mock-Jury)

  • What is your product?
  • We produce and sell battery cells based on a new material.
  • What’s innovative about it?
  • With our approach, we can reduce the energy needed during battery production by 15% as well as the related costs. We–
  • Is the new battery as long-lasting as the conventional materials?
  • We do not have long-term studies yet but we expect that it will have a comparable half-life. So–
  • But if it does not then wouldn’t it be a pointless product? What half-live benchmark do you have to reach to make sure that the 15% upside remains relevant for customers?
  • We have not calculated that yet but do not see this as an issue.
  • It sounds to me that your competition is still the better alternative until you can validate your half-life. Is that wrong?
  • Well…

Recommendation

As a mock-jury member, highlight the weaknesses of the innovation and overexaggerate the benefits of competing products. Question the existence of the innovation in the market to create a robust set of answers.

Looking for Flaws

The EIC Jury interview might be a pleasant experience but it can also turn stressful and be riddled with criticism. As an old saying goes:

Prepare for the worst. The best will take care of itself.

There might be one Jury member who is looking to criticise, who accepts no response to be good enough and who has already made the decision that they do not like the project. Unfortunately, there are many accounts of rejected applicants who found the interview to be stressful and at least one of the EIC jury members to be unpleasant.

If this happens then it is unfortunate but it is one more reason to prepare for such a case.

The principle of practising to look for flaws is simple: Try to entrap the interviewees and corner them in a place where they do not want to be. This can be because they do not know the answer, they have never thought about this or because the answer might lead to even worse questions.

Being critical does not mean that the questioner needs to be unpleasant. On the contrary, playing the role of someone who is looking for flaws can be good practice for everyone involved. If one of the interviewees just stepped into a trap and looks confused while the other two interviewee’s try to suppress their laugh then the practise session is going well.

Example (Interviewee / Mock-Jury)

  • How much financing have you raised so far?
  • In total, €2.5M from grants and angel investors.
  • Are you in discussions with other investors now or expect other investments in the coming months?
  • Yes, we are talking to Venture Capitalists regarding a bridge round at the end of the month.
  • How much are they considering to invest?
  • We are discussing a €1M investment but it can also be higher.
  • Then is it not best if we wait until they have made the decision and you apply again to the EIC in 3 months?

Recommendation

Have one person (the mock-jury) ask questions and follow-ups that progressively become more difficult to try and entrap the interview candidates. These traps will be the basis for the improvement strategies for answers discussed in the following articles.

Learn the Rules & Read the Application

It can be assumed that a majority, if not most, of the applications that are selected for the Step 3 interviews of the EIC Accelerator have either been written by consultants, professional writers or with the strong support of the startup’s employees (i.e. delegation of tasks). No matter how the company reached this last stage, it is likely that the three interviewees are not entirely familiar with all the application documents.

While many might think “I know my company in and out already!”, it would be a fatal error to not be perfectly familiar with the application. With three team members being invited to the EIC’s pitch week, it is not necessary for everyone to know everything but, as a collective, all three team members should know the entire application like the back of their hand.

The CFO should know the financial spreadsheet, the cashflows given in the Technology Adoption Lifecycle (TALC), the work package budgets and all related financial aspects. The CTO should know the development tasks, should be familiar with all the features and uses cases as well as know what the exact pain points described in the application are.

The team should distribute all proposal documents to assure that at least one person knows the relevant information. In addition, all three interviewees must know the EU’s and the EC’s rules which are described in the previous article to avoid displaying red flags (i.e. non-bankability, strategic challenges, risk-level).

Example (Interviewee / Mock-Jury)

  • What developments are you planning under the EIC?
  • We want to optimize our production process, get certifications for the resulting hardware and develop the AI software.
  • What budget are you allocating for the production process optimization?
  • We expect this to cost approximately €0.8-1M.
  • I have seen your Work Package 5 and it shows a very different number there. It list €450K for the production process. Why the discrepancy?

Recommendation

Practice asking precise questions on the proposal documents. These can include the Freedom to Operate (FTO) report, the budget, the competitors and many more sections.

Choose Who Answers What

It is critical for the team to assure that the most suitable expert will be answering the questions in their field of expertise. This can be difficult due to time constraints and it can also be hindered by the most confident member of the team taking the answering role out of pure habit (i.e. the CEO answering a financial question while the CFO remains silent). Suggestions to mitigate any problems are:

Give each person a topic

As an example, the CEO answers business model and market questions, the CTO answers technical questions and the CFO answers budget, investment and financial questions. This sounds simple but there can be significant issues that only become obvious during practice.

What if the question is financial in nature but it asks why the technical development costs are so high? This question might be too technical for the CFO. What if the commercialisation question overlaps with technical customer pain-point or the willingness-to-pay? There are many situations in which the ideal person will be ambiguous. Thus, it should be practised diligently.

Sit in the same room

It is much easier to transfer questions if the team sits right next to each other. The CEO can nod at the CFO and if one person decides to jump in then this can be well-timed as opposed to yielding awkward interruptions or confusion during a video call.

Note: This is only applicable for video calls and not for in-person pitch events in Brussels where all team members are in proximity by default.

Practise question allocations

Since questions will likely overlap greatly when it comes to the themes or topics, it is beneficial to practise this in every pitch session. What must be avoided is that the CEO or the most vocal team member ends up answering all questions. If one person has already answered questions for 15 minutes then it is likely that no other team member will dare to jump in since they are not used to it. It will be beneficial if the team members become accustomed to answering questions as a unit and have an almost immediate response without any awkward looks or confusion as to who should answer.

Conclusion

This practice routine illustrates how the team can integrate critical questioning into their mock sessions while it likewise hints at methods for their preparation. It is recommended to select one or more questioners who can play the devil’s advocate and aim to pressure the team through frequent interruptions.

The following articles will present strategies to develop perfect answers to questions and, most importantly, develop a framework to master unpredictable questions that would catch the team off-guard. This will help the interviewees to not end up in the critical situations given in the examples above.

Other Articles


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

Lessons from the EIC Accelerators Pitch Video Shooting (SME Instrument)

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity) has recently introduced pitch videos into the evaluation process which presents a new challenge for professional grant writers, freelancers and consultancies (read: New Application Process). While there are no official guidelines or templates for the process of shooting a pitch video, this article looks at some brief lessons learned from preparing such videos with clients in a remote fashion.

Information on how to structure a pitch video (read: Video Selection), how to script the video (read: Video Scripting) and how to remotely organize the shooting (read: Video Shooting) can be found elsewhere.

1. The Video Script is Everything

One of the restrictions of the EIC Accelerator pitch video is the length which is limited to only 3 minutes. This can be a surprisingly difficult challenge if the footage recorded by the Step 1 applicant, a Small and Medium-Sized Enterprise (SME) or startup, is very difficult to shorten without losing the storyline or making certain sections non-sensical.

Having a clear script that goes over all relevant sections of the project and is brief but succinct is important since it allows to cut out segments without impeding the overall story. Since it is advisable to always record more than the needed footage, cutting the length of content becomes an important task for the proposal writer.

If a great script has been prepared in advance, the video editor can always fall back on it and never needs to worry about the 3 minutes not telling a cohesive story. Not being able to include every single part of the project’s story is to be expected but the script should be holding up even if certain parts are omitted in the final cut (read: Story Lines).

2. Simple Tips for Pitch Recordings Go a Long Way

Applying SME’s and startups need sufficient guidance for the video recording. A video editor or videographer might take certain things for granted but these aspects could be entirely foreign to the management team of a technology company.

Every consultant or freelancer should present their clients not only with a pre-written script and instructions as to which members should partake in the shooting but also prepare guidelines for best practices. Information on ideal camera choice, settings (framerates, ISO, shutter speed, etc.), lighting and background setup can easily increase the video quality.

A limitation to this is the presentation of the CEO and the management team in general since preparing extra coaching for an exciting and enthusiastic video will likely be exceeding both the time and resources one should spend on the video. Still, giving some guidance as to how to transmit personality and excitement can be very helpful.

3. Small Editing Techniques are Key

Just cutting recorded footage together is one way of preparing the video but small additions such as stock footage, effects, titles and similar techniques can significantly increase the quality of the content.

Every applicant can assume that all the selected evaluators will watch the videos from start to finish at least once but this does not mean that boring videos will make the same impression as entertaining ones.

Having a professionally produced video is by no means a requirement but producing an entertaining video does not require professional production quality. Understanding what the listener wants to know as well as making sure that there is a start, a middle and an end while constantly keeping the viewer’s attention is key.

The thought after watching the video should be: “Wow, the project seems really interesting and the team seems great!“. A video that is bland and uninviting might make the first impression of the team less favourable since motivation, alongside competence, is an important criterion in the evaluation as well (read: Design Resources).

4. Adapting to the Client

Every client is different and has a different starting point when it comes to content creation. Some have extensive footage available and routinely do interviews or pitch their products in video format while others have been in stealth mode and have never recorded a single second of footage. This project diversity likewise extends to the video structuring and editing process since two projects can require different coverage durations for their unique segments.

The same is true for the technology itself since not all projects can be easily translated into video format. Showing how an Artificial Intelligence (AI) algorithm looks in an appealing manner is nearly impossible while demonstrating a hardware production process or data visualisation tool lends itself far more readily to the video format.

Time and geographic constraints are other determining factors since many teams are operating remotely and there might be a lack of time or accessibility to collect all the needed footage. A laboratory might be empty and in sleep mode until the regional COVID-19 lockdown is completed while team members could be busy with core business activities.

Summary

The following key lessons apply to the EIC Accelerator pitch video shooting for Step 1 of the evaluation process:

  • Scripting: Having a solid script prepared will make sure that the final video has a distinct storyline.
  • Guidance: Most applicants will need help with the pitch recording and this should be provided by the consultant or writer.
  • Editing: This will be valuable in order to give the footage a semi or fully professional look and grab the viewers attention.
  • Adapting: Every startup or SME has different footage available and different capabilities which means that guidelines must be adapted if needed.


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

The 2021 EIC Accelerator Work Programme and Newest Updates (SME Instrument Phase 2)

Update 1: The EIC Accelerator Work Programme 2021 was published on March 17th 2021.

Update 2: The EIC has presented the latest news in a YouTube leak which reveals information not found in the published Work Programme.

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) is being re-invented and is transitioning from its initial pilot phase into a fully-fledged investment arm of the European Commission (EC) and European Innovation Council (EIC). With the launch of the EIC Accelerator in 2021 having been announced for March 18th 2021, this article discusses the most important aspects of the new Work Programme (read: EIC Accelerator Introduction).

The new Work Programme includes a different application process, additional evaluation steps and significant technical changes that are relevant for both Small- and Medium-Sized Enterprises (SME) and startups as well as for professional writers and consultants focusing on preparing successful grant applications (read: Hiring a Consultant).

While the official template for the proposal documents is not published yet, conclusions regarding their set-up can be drawn from the evaluation criteria themselves. All information given in this article is still preliminary but is expected to accurately reflect how the EIC Accelerator will look like under Horizon Europe (2021-2027).

1. General Changes

1.1 Open Calls vs. Strategic Challenges

The EIC Accelerator will follow the previous SME Instrument’s strategy of imposing certain topic restrictions on applicants whereas all applicants will remain eligible for Open Calls but only select projects can apply to the Strategic Challenges. Accordingly, each funding arm will receive its own budget and be subject to specific guidelines with respect to the types of companies that are selected as well as their impact on the EU’s key policy targets.

1.2 Scoring & Ranking System

While the EIC Pathfinder and the EIC Transition will still include scoring and ranking systems, the EIC Accelerator will entirely omit such evaluation methods and solely rely on YES/NO gradings for every step. As discussed in a previous article (read: Analyzing Success Rates for Each Step), this might lead to a non-transparent evaluation process whereas rankings will have to be established internally since this is the only way of controlling the number of beneficiaries.

If there were truly neither thresholds nor rankings then there would likely be an excess of applications successfully progressing to the third evaluation step since the previous EIC Accelerator instalment already saw 30+% of all companies reaching the quality threshold of 13. Only a subsequent ranking process was able to reduce that number to a manageable amount for the interview stage.

1.3 UK Participation

After Brexit, the UK will participate in the EIC Accelerator grant but will not be eligible for equity financing (read: The United Kingdom under Horizon Europe). This, of course, is not to the detriment of UK companies since non-dilutive grants are increasingly sought after and there is no additional risk of receiving an equity-counter-offer that would replace the requested grant.

2. The Application Documents

2.1 Step 1: The Short Application

This first stage will require the preparation of a 5-pager to summarize the project in written form, a 3-minute pitch video and the conventional pitch deck which will later be used for the Step 3 interview.

≥ 5-Pager: The 5-pager does not currently have an official proposal template yet but conclusions can be drawn from the Evaluation Summary Report (ESR) criteria in the newest EIC Accelerator work packages (not shown here). The document will likely focus on the Excellence and Impact of the technology with very broad questions regarding its key aspects and why the EU should be interested in the project (see DARPA’s Heilmeier Catechism). The Implementation will receive less attention and only address the quality of the team and the overall risk level of the project (read: Assessing an EIC Accelerator Project).

The EU has additionally given hints at the 5-pager template through its public tender for an Artificial Intelligence (AI)-driven writing support tool which further illuminates the direction it will take. All in all, the 5-pager should be viewed as a compressed version of the previous full application with a stronger focus on being impressive rather than being detailed or feasible (read: Identifying a Broad Vision).

≥ Pitch Video: The 3-minute pitch video will likely have no restrictions and give full creative freedom to the applicants (read: Pitch Video Production) but it should be treated as a project pitch that is addressing all criteria rather than an advertisement (read: Pitch Video Resources).

≥ Pitch Deck: The pitch deck will likely follow the exact same structure as the previous installations of the Step 3 interviews (read: Pitch Deck Creation).

2.2 Step 2: The Full Application

Once Step 1 is passed, the applicants will be invited to submit a full application to the evaluators which will likely be a 20-30 page document that includes the business plan, financials, work packages as well as annexes that contain information on the company (read: EU Work Packages).

2.3 Step 3: The Remote or In-Person Interview

This step will follow the same structure as previous interviews (read: Preparing for an Interview & The Biggest Mistakes).

3. The Application Process

The application process will likely see great changes with the introduction of an online tool supported by an AI-interface similar to web-based word processors, a re-invented Funding and Tenders Portal as well as the introduction of freezing periods for unsuccessful applicants. It is evident that the EIC has put great thought into increasing the quality of applications but also into filtering out low-quality projects early.

3.1 AI Tool

Similar to GoogleDocs, this web-interface is meant to be used for the writing of the proposal and should give useful assessments and guidelines to support the process. The exact details and its release date are not clear yet but it could be a valuable way of providing immediate feedback to low-quality applications.

3.2 Freezing Periods

≥ Two Attempts: The general approach is to give rejected companies a second attempt while they will be blocked for 12 months from further submissions if they cannot succeed in a respective evaluation Step on their second try. The rules are more complex when it comes to the rejections in Step 3 but all applicants should assume that two attempts are all they will have available and that no submission should be wasted.

Consultants and professional writers often receive inquiries from companies who have applied to the EIC Accelerator on their own but failed, prompting them to seek support from an expert. This was always a great option for startups because there was no risk in preparing an application in-house since professionals could still be hired down the road (read: Should you apply on your Own? & Getting Good at Grant Writing).

Unfortunately, this is currently changing since the risk of failing is now associated with being blocked from any further applications for at least one year and maybe even indefinitely when it comes to a particular company or project. It is expected that many applicants will now seek professional help before even applying on their own to minimize their risk while there could also be a large number of unsuccessful companies seeking out writing support with one out of two rejections already received (read: EIC Accelerator Consulting Industry).

≥ Virgin Projects: Since such freezing periods are a new concept, there will likely be a new focus among professional writers and consultants on virgin projects which have not applied to the EIC Accelerator yet and have a lower risk for rejection. This is expected to become a major factor since success-fees and -rates are key for consultancies while investing time and resources into a project with only one remaining attempt can become an unreasonable risk.

Undoubtedly, the latter risk consideration will prompt consultancies to adjust their pricing model specifically for one-time EIC Accelerator rejectees. As with everything, good intentions can backfire and the EIC’s radical changes to the evaluation process, depending on how they will unfold, could end up harming the startups and SME’s they aim to support.

4. The Evaluation Process

Without scoring, without a transparent ranking system and with automated AI-tools, the evaluation process will change drastically. In the past, the pool of evaluators used for the assessment of applications has frequently faced criticism but the new installation of the EIC Accelerator might mitigate this depending on how the changes will be implemented. One major improvement is the introduction of concrete feedback for rejected applicants, although its exact nature is unknown at this point.

4.1 Step 1

Two evaluators will decide, unanimously, if the application is approved or rejected. If their opinions differ, two new evaluators will be added and the application will be successful if only one of them approves all evaluation criteria. This means that a proposal can win Step 1 if the result is 2/2 or if it is 2/4, provided the approvals are given for all evaluation criteria.

4.2 Step 2

Three evaluators will assess all criteria as in the previous EIC Accelerator installation. They will now also gain access to automated data analysis tools to cross-reference metrics and collect relevant data but the details for this AI tool are not known yet.

4.3 Step 3

6 jurors will evaluate the pitch and have access to all previous applications and feedback. They can also suggest lower grant amounts to be offered in case TRL8+ activities are detected or make a counter-offer consisting of equity financing but they are unable to provide more funding than has been requested (read: Technology Readiness Levels & How the EU Funds TRL’s).

5. Strategic Challenges (Topics)

Outside of the open calls, the newly introduced topics will focus on (1) the green deal, (2a) digital technologies and (2b) health care.

For (1) the Green Deal, 50% of companies invited to the Step 3 pitch have to address (a) batteries and energy stage, (b) green hydrogen and (c) renovation (read: A Proposal Narrative). For (2a) digital technologies and (2b) health care, 40% of interviewees have to address each sub-topic.

Open calls and specific topics will be available in parallel which means that companies have to decide which call they apply to.

5.1 The Green Deal Strategic Challenge (1)

The Green Deal will aim to target the following environmental goals in a similar fashion as the dedicated cut-off in May 2020 (read: The Green Deal EIC Accelerator):

  • Climate mitigation
  • Clean, affordable and secure energy
  • Clean industry & circular economy
  • Efficient building and renovating
  • Sustainable and smart mobility
  • Fair, healthy and environmentally-friendly food system’s
  • Preserving and restoring ecosystems and biodiversity
  • Zero pollution and a toxin-free environment

Specifically, the following technologies and areas are sought after under the 2021 EIC Accelerator Strategic Challenges for the Green Deal:

  • Batteries and Energy Storage: Strategic battery value chain • critical raw materials • recycling • chemical as well as physical storage (including ultracapacitors) • stationary and transport applications.
  • Green Hydrogen: Produce and store renewable hydrogen • different scales • centralized to on-demand • stationary and transport applications.
  • Renovation: Accelerate the growth of the renovation market • energy-efficient buildings • innovative technologies • financial schemes or business models.
  • Low-carbon Industry: De-carbonisation of industries • electrification • circularity • industrial symbiosis • industrial processes • carbon capture storage • digitisation of industrial processes.

5.2 The Digital Technology Strategic Challenge (2a)

≥ Digital technologies: Information and communications technology (ICT) • advanced high-performance computing • edge computing • quantum technologies • cybersecurity • artificial intelligence • block-chain • cloud infrastructure technologies • Internet of Things (IoT).

5.3 The Healthcare Strategic Challenge (2b)

≥ Healthcare technologies: AI-driven diagnostics • point-of-care (POC) diagnostics • cell and gene therapy (esp. cancer) • novel biomarkers for clinical prognosis • patient stratification/monitoring • bioprocessing 4.0 (digitalisation) • healthcare intelligence services • e-health solutions.

6. Ambitions to Control the Outcome

While the evaluation of all EIC Accelerator applicants is expected to be fair and prioritize the Excellence of the project, it is undeniable that there are policies in place that will fix the outcome. These are coming in the form of gender targets, societal impacts and related EU political agendas (read: EU Policies).

≥ Gender Outcomes: 40% all EIC Accelerator interviewee’s in Step 3 of the evaluation process must have female Chief Executive Officers (CEO) while 35% of all funded businesses must meet this criterion (read: Why it’s Great to Be a Woman). To facilitate this, special coaching will be given to female founders and the pool of evaluators, while 40% are already female, will be expanded to meet a 50% female share.

Considering that, without outcome-interventions by the EC, only <5% of beneficiaries had female CEO’s, this new target is an exceptional change but it is not clear how exactly the first two evaluation steps are affected by this Step 3 quota (read: The EIC Accelerator Performance Report).

≥ Sustainable Development: Amongst other targets, the EIC wants to support impact-oriented companies out of which 90% have to address sustainable development goals such as the Green Deal or similar targets. It is not clear how this focus will affect the EIC Accelerator.

≥ Geographic Diversity: A staggering change to the Step 3 pitch is that each EU member state and each associated country has to be represented in the interview stage with a number that is proportionate to the total number of applicants in earlier steps. This means that, for the first time, the EIC Accelerator is imposing geographic restrictions on its beneficiaries. This can be a double-edged sword since it has long been shown that some countries easily meet the 13-score funding threshold (i.e. 50% of applicants) while other countries have a more difficult time (i.e. 10%).

Countries that prioritize quantity over quality will be unfairly rewarded while countries that prioritize quality are being punished. It is still unclear at this point how strictly this rule will be enforced (read: Pre-Requisites for an EIC Accelerator Application).

7. Technical Changes

7.1 Coaching

3 days of coaching will be provided to all successful Step 1 applicants but at the costs of €1,000 per coaching day for the EC. The coaches will likely be external contractors and it is not clear how their experience could contribute to the preparation of the Step 2 application or to the practice of a successful Step 3 pitch.

7.2 Seal of Excellence (SOE)

SOE’S are awarded based on the Impact and Excellence criteria while the Implementation (i.e. risk-level and need for EU support) will be the determining factor to decide if the project is funded or if it is rejected (read: Evaluation Summary Report Analysis).

7.3 Applicants

Applicants can now, for the first time, be natural persons instead of only being Value Added Tax (VAT)-registered companies as long as an SME or Small-Mid Cap is formed prior to signing the EIC Accelerator contract. Of course, the natural person has to be a citizen of the EU or of an associated country (read: Associated Countries).

7.4 Equity

Next to direct equity investments by the EIC Fund in financing rounds initiated by the SME’s themselves (read: Inside Look into EIC Fund), convertible notes and other debt-related funding can be provided to beneficiaries. It is also finally clear that the obscure 30% co-financing of the EIC Accelerator grant can be financed through a parallel equity investment-request, thereby requiring no existing funding sources or revenues to fill the gap.

Direct equity applications without the request for grant support are now possible for applicants although the evaluation and proposal submission will differ.

Equity components can also be postponed by first opting for a grant application (i.e. grant-first) and later re-applying directly for equity-support.

7.5 The Pitch Video

This document will likely be submitted through a link since the cloud storage-needs and the requirement of government institutions to store files long-term would exceed existing capacities. One important repercussion of this decision is that, if startups can self-host their videos, enforcing a 3-minute restriction is extremely difficult since it is not possible to have an automated restriction as it exists for PDF page-limitations (read: Pitch Video Types).

The fairest way of implementing this would be to have direct file uploads to the EU platform and an automated time-trimmer to assure that all applicants only have 3 minutes to work with. If the EIC is using an AI-tool for the proposal development then introducing cloud video-hosting is only a minor challenge.

7.6 Timelines & Feedback

The Step 1 call will be open continuously and have no specified deadline. It will approximately take 4-6 weeks to receive feedback on the Step 1 5-pager whereas both successful and rejected applications will receive comments from the evaluators. For the Step 2 full application, the feedback is expected to be received 5-6 weeks from the cut-off date.

A 4-6 week feedback cycle for Step 1 does seem underwhelming since it is supposed to be a screening Step and not act as a full assessment. The estimated timing will potentially be different in practice and could be as fast as 2-3 weeks.

Face-to-face interviews will be 8-9 weeks after the Step 2 cut-offs (read: Deadlines) while 6 jury members will be responsible for the questions and assessments. EIC Fund associates can also join the pitch but they will not be in a position to ask questions or influence the evaluation result. The interview results will be ready within 2-3 weeks.

7.7 Reimbursement Advances

For short innovation life-cycles, SME’s can apply for a reimbursement advance that matches the grant condition but has to be paid back. With a 70% maximum contribution of €2.5M, the EU can provide financing that has to either be paid back (interest-free) or is converted into equity after a certain time period. The exact nature of the funding opportunity will be published soon but it will likely be at the discretion of the jury members who can directly assess the innovation life-cycle and time-to-market to make a recommendation.

7.8 Budget

Initial communications by the EC suggest that there were meant to be 3 cut-offs for Step 2 in 2021 but they then were reduced to two deadlines. The budget is already set and will be distributed across all topics. As of today, the total budget for 2021 is €1.109BN while the open calls have a €602M budget and the strategic calls share a €507M budget. Considering two parallel calls, namely the open call and the strategic challenges, this would give each cut-off an approximate budget of €554M which is significantly higher than even the COVID-relief and Green Deal cut-offs in 2020 (read: COVID and Green Deal 2020).

7.9 Inclusion of Small-Mid Caps

Historically, the SME Instrument and the EIC Accelerator have focused on SME’s, exclusively, but this will change under Horizon Europe. While SME’s are subject to specific size-restrictions that include the number of employees (max. 250), turnover (max. €50M) and balance sheets (max. €43M), Small Mid Caps can exceed these amounts. While restricted to only equity investments under the EIC Accelerator, companies can be 499-employees in size.


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

Freelancers: The Other Side of the Consulting Industry (EIC Accelerator, SME Instrument)

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) is a competitive funding program supported by a variety of consultancies and professional writers in the EU. Due to the high EU budgets and demand from Small- and Medium-Sized Enterprises (SME) and startups, there are diverse business models that have emerged in the industry (read: The EIC Accelerator Industry).

Inside this sector, one of the often-overlooked factors is the use of freelance writers by large consultancies. These are contracted for the writing of proposals, the editing of re-submissions in case a proposal was rejected and also for the pitch preparation (read: Structuring a Pitch Deck). It is common for a consultancy that is focusing on grant writing to have a network of such on-demand freelancers at their disposal and this talent pool often greatly exceeds the numbers of in-house writers.

The Need for Freelancers

Most prospect EIC Accelerator or Small Business Innovation Research (SBIR) applicants are not aware of how writing is commonly outsourced and generally expect to be working with a single consultancy once a contract is signed but this is not always the case. The decision as to which writer (i.e. internal or external) will take on an application largely depends on the capacities of the respective consultancy but also on budgetary factors.

From an economic perspective, most full-time employees of a consultancy are better utilized in the management and editing of proposals rather than in the writing itself. This is due to the fee’s that are normally paid to freelancers which can be much lower compared to those of a full-time employee. This system is a very useful way for consultancies to increase their own capacities but also for having a diverse pool of expertise at their disposal.

Why Freelancers are Working On-Demand

Such a set-up is typically a win-win scenario for both the freelancers and the consultancies since the former have a need to find work while the latter requires additional capacities from highly qualified experts. SME’s that wish to apply to the EIC Accelerator with the help of a consultancy likewise benefit from a broad pool of expertise while no excellent project has to be rejected due to a lack of capacities.

There are distinct reasons as to why this industry can operate in such a way and they are largely originating from the freelancers themselves who happily work in a remote capacity as on-demand talent. The following presents a shortlist of why this is the status quo and what could trigger a future change in this sector.

1. Freedom

One of the biggest reasons as to why freelancers choose to work as independent contractors is their general desire for more freedom in their working relationships. This can be due to a variety of factors such as a preference for working alone, the ambition to build up diverse revenue streams or also the inability to comply with office-work requirements such as relocating to a certain region, language-barriers or related obstacles.

Another often overlooked factor of freelancing is also the ability to decline projects and to select clients carefully. This is especially important in a highly competitive sector such as innovation grant writing since many startups who are determined to apply for the grant lack the prerequisites to be successful. The general eligibility requirements by the European Commission (EC) and European innovation Council (EIC) can give companies false hope in judging their own success chances if only the EIC Accelerator template is used as a basis.

While a full-time employee has to do the work they are told and lacks the freedom to make independent decisions, a freelancer can always decline projects and allocate their time according to their own needs.

2. Work Focus

A consultancy has to do a variety of tasks outside of providing their actual service and these additional areas come in the form of marketing, legal obligations, project management and administration. Freelancers often lack the time and resources to fulfil all of these additional requirements since providing a service such as professional grant writing is already a full-time occupation. Adding client contacts, project assessments and contractual processes to the list of tasks is often overloading an individual writer.

3. Visibility

Most freelancers have no visibility in the industry, lack the opportunity to meet clients, are inexperienced in finalising contracts, do not operate based on customer-first principles and are unfamiliar with the client assessment process (read: Assessing a Project). As a result, they are usually pigeonholed as writers who lack the skillset to expand beyond this occupation.

It is also often the case that writers rely strongly on editorial support from senior consultants when preparing a project since not every writer has the expertise to develop strategies for complex projects or has a learning-oriented approach to their work which would allow them to growth over time.

4. Dynamic Industry

Innovation grants and especially the EIC Accelerator are constantly evolving with changing proposal templates, evaluation processes via the European Agency for SME’s (EASME), submission requirements and even the eligibility thresholds for startups themselves (read: Proposed 2021 Process). In a dynamic industry like this, placing time and effort into administrative and operational tasks such as information gathering and communication with other experts is a must but often exceeds the capabilities of freelancers.

With uncertain future conditions, fluctuating demands and no guarantees with respect to the continuation of a grant program, most writers are preferring to collaborate with a consultancy and have a simplified work-load as well as a higher level of security even if this is to the detriment of their professional growth.

How The Industry Could Change

The current state of the EIC Accelerator grant writing industry is well-balanced and in no need for a change but there are some ways that could improve the standing of writers and also enable more transparency for startups and SME’s. The first step in such a scenario would be to bring the self-employed writers themselves out from the background and enable them to gain more visibility which can lead to them developing direct client relationships without the reliance on large consultancies.

This approach would allow writers who are exceptional at their craft to focus on writing while they can build closer customer relationships and be more dedicated to each individual project rather than writing many grant applications per deadline (read: EIC Accelerator Cut-Offs).

For this purpose, every freelancer should develop the skills of going beyond what is required since each project and client can present unique circumstances that have to be addressed. Instead of only performing the minimum amount of effort, a writer should be dedicated to the common goal they share with their client which includes working on improving the proposal’s evaluation rather than only meeting contractual terms.

Are you a freelancer? Feel free to sign up here: Freelancer Database.


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

The Reliance of EU Startups on Consultancies for the EIC Accelerator (SME Instrument)

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) is an innovation funding program that provides up to €17.5M to startups and Small- and Medium-Sized Enterprises (SME). It is very attractive for eligible companies since it allows single-applicants to directly apply online and participate in the program with little to no help from third parties (read: EIC Accelerator Introduction).

Since the evaluation is performed by the European Agency for SME’s (EASME) and European Innovation Council (EIC), it appears to be the ideal framework for the European Commission (EC) to directly help excellent companies in the region.

Or so it seems.

Insufficient Documentation & Transparency

Unfortunately, many applicants who investigate the EIC Accelerator process and proposal template find that the official documentation is not entirely helpful. Instead of presenting what a good business case should be, the European Union (EU) focuses on communicating its goals for policies, gender equality, finding startup unicorns and describing innovation from a political perspective.

As a result, prospective applicants turn to professional writers and consultants since they are concerned that “they do not know what the EU wants to hear” (read: Hiring a Writer). They recognize early in the process that the EIC Accelerator is a policy-driven element, spearheaded by politicians as the primary decision-makers while entrepreneurs take an advisory role.

Becoming Entrepreneur-Friendly

The EIC is making progress in becoming more entrepreneur-friendly by aiming to be Venture Capital (VC)-like and presenting itself as a true start-up ecosystem in the EU via equity investments, pitch-oriented evaluations and expert entrepreneurs for critical evaluation steps. Unfortunately, while the EIC aims to simplify the application process, the direction the EIC Accelerator is moving towards is becoming less and less applicant-friendly.

This is not only evident in the recent equity-affair whereas granted applicants from 2019 have only received part of their equity financing in 2021 (read: Interview with EIC Fund Member) but also in the addition of more and more evaluation steps (read: Proposed 2021 Process).

Making the Application Process More Difficult

In 2018, in-person pitch interviews were introduced as an additional layer to the formerly 1-step evaluation procedure and 2021 will see the EIC Accelerator become a 3-step process which will, for the first time, include video submissions (read: Pitch Video Types). This not only increases the workload for all applicants but also requires a broad skill set which is not commonly found in DeepTech startups (i.e. design, video production, storytelling, marketing).

This clearly is a contradictory approach by the EU since adding steps to the process will increase the reliance of grant applicants on consultants and professional writers instead of reducing it (read: The Grant Writing Industry).

Understandably, the EIC is in a double bind. It wants to attract excellent companies and help them to apply without hiring external help but, by attracting an excess of applicants, it has to increase the evaluation barriers since the budget is limited. This, in combination with a less transparent evaluation process (read: Applying Early to the EIC Accelerator), leaves innovative companies no choice but to rely on external partners more than ever before.


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

How to Select an EU Grant Financing Program such as the EIC Accelerator (SME Instrument) – Part 3

This article is a continuation of Part 2 and describes a list of considerations to be made by startups and Small- and Medium-Sized Enterprises (SME) that seek to raise grant financing from the European Union (EU). One of these options is the EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity) by the European Innovation Council (EIC) and European Commission (EC) which is highly suitable for innovative companies and has a strong support network of professional writers and expert consultancies (contact a professional writer here).

8. Country Restrictions

Which countries can apply?

Country restrictions have to be considered whenever they could be applicable. As an example, there are funding programs by the EU where only a certain country can apply while others are open to non-EU countries (i.e. Tunesia, Israel, Ukraine) such as most Horizon 2020 and Horizon Europe programs (read: Countries for the EIC Accelerator).

There can also be specific restrictions imposed due to special circumstances such as Brexit. Since the United Kingdoms (UK) participation in Horizon Europe was unclear throughout 2020 and 2019, UK applicants were only allowed to apply for grant financing under the EIC Accelerator but not blended financing since the EIC did not want to take equity stakes in foreign entities. Such potential issues have to be assessed on a case-by-case basis.

9. Submission Process

How is the submission process for the grant applicants?

The requirements for grant applications can vary greatly and have to be assessed based on their submission types, evaluation process and document requirements. Such variations have to be explored for each case but the general scopes for grant application can be summarised as follows:

Submission type: Online submissions (i.e. document uploads) are possible in many cases but the submission to local contact points or federal government institutes can be required as well. The EIC Accelerator uses the Funding &Tenders Portal for fully digitized submissions (read: Financing Timeline).

Evaluation process: The evaluation process will vary depending on the type of evaluators, their numbers, backgrounds and general focus. The EIC Accelerator uses a remote pool of evaluators via the European Agency for SME’s (EASME) and in-person juries for the pitch interviews (read: Interview).

Document types: The document types that are requested under a grant, as defined by the official proposal template, will vary but a normal PDF document like a business plan or a research plan are a must in almost all cases. The EIC Accelerator additionally requests financial spreadsheets, a short summary, a video pitch and a pitch deck (read: 2021 Application Proces).

10. Local Support Networks

What local support is available for companies?

Support on a national level is well organized in the EU due to an abundance of SME contact points in key European areas. These can provide a strong support network and can provide resources that help in future applications. Such help might not be available for all grant opportunities especially if the applicant does not classify as an SME which needs to be assessed beforehand.

11. Available Consultancies

Are there many consultancies specialising in the filed?

Lastly, it is useful to assess the number of consultancies or experienced writers that are available for a specific grant so that each prospect applicant is able to have a variety of options to choose from when hiring such supporters. It can also be beneficial to assess if the consultancies are working with multiple grants so that a more suitable option can be chosen instead of the original one in case of a rejection or if a more thorough assessment warrants such a transition.

For the EIC Accelerator, there are a variety of available consultancies to choose from with varying business models and industry focus (read: Preparing an Application). To reach out to a professional writer or consultant, please use the following contact form.

Summary

When choosing an EU financing program, the following aspects should be considered:

  1. Budget: How much is the total available budget and the financing per application?
  2. Covered Costs: Are all costs covered or only a percentage?
  3. Competitiveness: How high is the success rate?
  4. Thematic Focus: What specific conditions do projects need to fulfil (i.e. innovation, Technology Readiness Levels, industry)?
  5. Local Alternatives: Are there national funding projects available with easier accessibility?
  6. Number of Submissions: How often can an applicant submit an application?
  7. Single Applicant or Consortium: Is it a single-applicant program or exclusively for consortia?
  8. Country Restrictions: What restrictions are imposed on applicants when it comes to their country of origin?
  9. Submission Process: Is an online submission possible or a complex federal process?
  10. Local Support Networks: Are there support networks available or resources for applicants (i.e. templates, proposal examples, annotated guidelines)?
  11. Available Consultancies: Are expert consultancies and professional grant writers available for hire?


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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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:

How to Select an EU Grant Financing Program such as the EIC Accelerator (SME Instrument) – Part 1

The EIC Accelerator blended financing (formerly SME Instrument Phase 2, grant and equity financing) program is an interesting opportunity for startups and Small- and Medium-Sized Enterprises (SME) but it might not be suitable for all applicants (read: Introduction). There are a variety of considerations to be made in advance which can help companies to make an informed decision and assess if the EIC Accelerator is the correct funding project to choose or if alternatives such as FET Open, Pathfinder, the Green Deal Call or similar opportunities are more suitable.

The European Innovation Council (EIC) and the European Commission (EC) provide a variety of funding arms to support SME’s while the official Funding & Tenders Portal gives information and guidance on the details of such programs. A professional writer or consultant can support companies in investigating the suitability of a project for grant funding but startups can often initiate such an assessment themselves.

The following list presents a few select criteria to assess a suitable funding opportunity since a successful application can only be prepared once the right conditions are met.

1. Budget

What is the total budget available and how much can be requested per applicant?

Prior to selecting a grant opportunity, the exact amount of available financing and the expected budget per project should be assessed since seed-stage companies might not warrant large financing rounds while scale-ups could have long exceeded smaller grants. Total budgets and request-amounts are often published in Work Programs or directly on the call page on the Funding & Tenders portal. The EIC Accelerator provides a budget of approximately €100M to €300M per call with up to €17.5M per project in grant and equity financing (read: EIC Accelerator Budget).

2. Covered Costs

What percentage of the project’s costs are covered?

Often, grant financing covers a percentage of the total project costs whereas the grant contribution will have to be supplemented with external financings such as revenues, investments or other sources. The exact conditions can vary by the type of grant chosen but the EIC Accelerator finances 70% of the total costs (read: Grant vs. Equity).

3. Competitiveness

How many applicants will apply to a single call?

It can be difficult to assess how competitive a grant will be but the total budget amount and the number of submission in previous calls are a good indicator. Such information is usually published on the call page or on social outlets like Twitter (read: Finding News). For one-off calls, it can be difficult to gauge the number of applications submitted per deadline but consultants and other funding experts are usually able to provide guidance in such cases based on similar or previous calls.

For the EIC Accelerator, the budget and competitiveness has varied greatly over the past years and especially in 2020 but the success rate has historically been between 1% and 6% in most cases with 1,000 to 4,000 applications per call (read: EIC Impact Report).

This article continues in 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) are January 11th 2023 (only EIC Accelerator Open), March 22nd 2023, June 7th 2023 and October 4th 2023 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: