The EIC Accelerator funding (grant and equity, with blended financing option) by the European Commission (EC) and European Innovation Council (EIC) awards up to €2.5 million in grant and €10 million in equity financing per project (€12.5 million total) and is designed for startups and Small- and Medium-Sized Enterprises (SME), often supported by professional writers, freelancers or consultants.

This article is part of a series that contains suggestions for the EIC and the EIC Board regarding various improvements to the evaluation process (see ChatEIC).

DeepTech Definition

A good definition for DeepTech should allow applicants to self-filter and clearly communicate what the EIC is looking for:

• DeepTech must be all of the below (condition: AND)

• A technology not prevalent in the market yet, and with only very few direct competitors
• A technology base requiring deep domain expertise, often through PhDs, scientists, engineers, or similar
• A technology with a large-scale impact that is not limited to a small market niche and that can become the gold standard in its industry worldwide
• A level of market urgency that justifies the investment happening now
• A clear moat that protects the business from emerging/incumbent competitors, such as patents, assets, or know-how
• High capital requirements for product developments that are impossible to bootstrap

• DeepTech can be either of the below, but at least one (condition: OR)

• Based on scientific discoveries in a field
• Technological advancement that required interdisciplinary expertise across domains (i.e., a combination of scientific fields, engineering/software, etc.)
• Based on deep domain expertise in IT, hardware, or other areas
• Software (including IoT) is expected to have a complex backend that is based on new breakthroughs, scientific discoveries (i.e., AI, computer science, mathematics), or otherwise sophisticated technology components not currently or commonly found in the market

• DeepTech is none of the below (condition: IS NOT)

• • An innovative smartphone App, WebApp, or SaaS product with a simple backend and many similar competitors
  • A small business that is not designed to scale (i.e., a restaurant, farm, taxi/transport service, etc.)
  • A copycat product for existing technologies (i.e., telematics, e-hailing, hardware retrofitting, manufacturing, etc.)
  • An AI-wrapper that uses external LLM to generate value without providing significant breakthroughs or leveraging deep industry expertise (AI-wrapper = building SaaS on top of existing AIs, often via Anthropic/OpenAI)
  • A product that is already on the market but lacks customer interest, even if it has a scientific or technical base (i.e., trying to add features to make it more attractive)
  • Business model innovations that have no unique technology components

Applicants should use all three lists to assess themselves. For the first list, they should fit all criteria. For the second list, they should fit at least one criterion. For the third list, they must not fit into any criteria.

This definition is quite strict and might not cover all of the 700+ EIC Accelerator winners funded by the EIC since 2021.

Step 0: A Short Screener

When starting the Step 1 application, a simple questionnaire (checkboxes) should pop up that screens the general company profile. The EIC Accelerator Quiz also uses probing questions about the company based on the Jury interview experience and aims to filter them early on before even assessing the technology.

The questionnaire should not be an evaluation (i.e., no human evaluators) but should just follow a simple logic that gives a binary score:

• YES: Simply allow the applicant to start Step 1
• NO: “We have found some issues with your answers and do not think that you should apply for the EIC Accelerator. The issues we have identified are:” (list the points)

Applicants can choose to change their answers and apply anyway, but they would either have to lie or change their company to do so.

Here is a suggestion for the criteria where applicants can select either only one or multiple options, depending on the logic:

• Ownership held by the team actively working in the company (excluding outside investors, inactive employees, and hands-off shareholders)
  • You have raised €700,000 to €1.5 million, and your team holds at least 60% of the company equity
  • You have raised €1.5 million to €5 million, and your team holds at least 45% of the company equity
  • You have raised €5 million to €20 million, and your team holds at least 30% of the company equity
  • We have not raised that much
  • Our team holds less ownership than given
• Describe your current and past fundraising efforts. Investors can be: Venture Capital (VC), family offices, angel investors, industry venture arms, investment banks, private companies
  • We have not raised any funding
  • We have previously raised funding from investor types listed above
  • We have previously raised funding through government grants
  • We have previously raised funding through crowdfunding
  • We have previously raised funding through founder capital or friends and family
  • We are actively engaging investors (especially VC) now to raise funding in the near future
• Your company is registered in the EU or an associated country, and there is no holding company outside of the eligible territories
  • No, we have a holding company outside the EU or associated countries
  • Yes, there is no holding company outside the EU or associated countries
• You do not license your technology from another entity, but own all of your IP
  • Yes, we own all of our IP
  • No, we are licensing a core technology from another entity

The EIC can likewise use this form to define the minimum investment raised by applicants (i.e., €700,000 in this case). It can also filter out the companies that apply for grants because they do not want to engage VCs, which happens quite often.

Technology Readiness Levels (TRL)

TRLs are extremely subjective. The evaluators might consider the level to be 6, while the jury considers it to be 4. A failsafe way of assessing TRL6 is usually the validation of a prototype or component that contains the key innovation by a customer, end-user, or in an industrial setting (i.e., commercial testing facility, etc.). TRLs could be retained, but with clearer definitions that reflect what Jury members and evaluators care most about:

• Normal Starting Point (TRL6): Has a prototype or prototype component been tested by a customer, end-user, or in an industrial setting?
  • Pharma (TRL5): Has the device/drug been preliminarily tested for efficacy/safety in animals, humans, or qualified simulations?
• Normal Grant End (TRL8): All developments to create the final product are completed (R&D, pilots, demonstrators).
  • Pharma Grant End (TRL6-7): Made a meaningful advance towards human testing/validation (Phase 1 started or completed).
• Normal Equity End (TRL9): Scaling completed (production, manufacturing, deployment, distribution).
  •  Pharma Equity End (TRL7-8): Continued progress through Phases with a clear plan for commercialisation (Phase 2 started or completed)

Pharmaceuticals generally do not fit the TRL requirements if a funding ceiling of €2.5 million / €10 million is considered. The EIC has been careful not to publish TRLs for pharma and MedTech, but sometimes refers to other institutions that have. The general problem with pharma is that costs rise exponentially with every TRL, which does not fit the EIC Accelerator budget.

A solution could be to simply add a footnote for pharma companies that need extensive clinical trials in humans, allowing them to start earlier (TRL5) and finish earlier (TRL7-8) without requiring them to be ready to sell after a €2.5 million grant and one equity round.

These tips are not only useful for European startups, professional writers, consultants and Small and Medium-Sized Enterprises (SME) but are generally recommended when writing a business plan or investor documents.

Deadlines: Post-Horizon 2020, the EIC Accelerator accepts Step 1 submissions now while the deadlines for the full applications (Step 2) under Horizon Europe are listed below. The Step 1 applications must be submitted weeks in advance of Step 2. The next EIC Accelerator cut-off for Step 2 (full proposal) can be found here. After Brexit, UK companies can still apply to the EIC Accelerator under Horizon Europe albeit with non-dilutive grant applications only - thereby excluding equity-financing. Switzerland has resumed its participation in Horizon Europe and is now eligible for the EIC Accelerator.

Contact: You can reach out to us via this contact form to work with a professional consultant.

AI Grant Writer: ChatEIC is a fully automated EIC Accelerator grant proposal writer: Get it here.

Eureka Network: The Eureka Network delivers various international collaborative R&D initiatives such as Network Projects, Clusters, Eurostars, Globalstars, and Innowwide, providing funding from €50K to €6.75M per project based on the specific initiative. This network emphasizes market-driven innovation and deep-tech advancement across multiple technology sectors including ICT/Digital, Industrial/Manufacturing, Bio/Medical Technologies, Energy/Environment, Quantum, AI, and Circular Economy. Eligible participants include SMEs, large enterprises, research organizations, universities, and startups, with Eurostars particularly focused on R&D-performing SMEs. Get Started

EIC Transition: EIC Transition delivers up to €2.5 million in funding to overcome the 'valley of death' gap between laboratory research and market deployment, emphasizing technology maturation and validation. The initiative supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Key technology domains include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics. Get Started

EIC STEP Scale-Up: EIC STEP Scale-Up delivers significant equity investments of €10-30 million for established deep-tech companies prepared for hyper-growth and large-scale expansion. The initiative targets SMEs or small mid-caps with up to 499 employees who have obtained pre-commitment from qualified investors. Primary focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero objectives, and Biotechnologies. Get Started

EIC Pre-Accelerator: EIC Pre-Accelerator represents a 2025 pilot initiative delivering €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. This program is exclusively accessible to single SMEs or small mid-caps from 'Widening countries' to foster regional innovation development. The initiative encompasses deep-tech innovations across physical, biological, and digital domains. Get Started

EIC Pathfinder: EIC Pathfinder delivers up to €3 million for Open calls and up to €4 million for Challenge-based calls to support early-stage research and development with proof-of-principle validation. The initiative requires research consortia with a minimum of 3 partners from 3 different countries, including universities, research organizations, and SMEs. Primary technology focus areas include Health/Medical, Quantum Technologies, AI, Environmental/Energy, and Advanced Materials. Get Started

EIC Accelerator: EIC Accelerator delivers flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The initiative targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Additional technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors. Get Started

Innovation Partnership: Innovation Partnership enables collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The initiative supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects concentrate on addressing societal challenges through collaborative innovation approaches. Get Started

Innovation Fund: The EU Innovation Fund delivers substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The initiative targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Eligible participants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects. Get Started

Innovate UK: Innovate UK delivers various programs with funding ranging from £25K to £10M depending on the specific initiative, supporting business-led innovation, collaborative R&D, and knowledge transfer. The organization funds projects across all sectors with particular emphasis on emerging technologies and supports UK-based businesses, research organizations, and universities. Programs are designed to drive economic growth through innovation and technology commercialization. Get Started

Industrial Partnership: Industrial Partnership delivers €2-10 million in funding for industrial research and innovation partnerships focusing on manufacturing, industrial technologies, and digital transformation. The initiative supports industrial consortia and research organizations in developing collaborative solutions for industrial challenges. Projects aim to strengthen European industrial competitiveness through strategic partnerships. Get Started

Eurostars: Eurostars represents a joint EU-Eureka initiative delivering €50K-€500K for international R&D collaboration specifically led by SMEs. The program adopts a bottom-up approach, accepting projects from all technology fields without predefined thematic restrictions. R&D-performing SMEs must lead the consortium and demonstrate significant R&D activities. Get Started

LIFE Programme: The LIFE Programme delivers €1-10 million in funding for environmental protection, climate action, and nature conservation projects across the European Union. The initiative supports environmental technologies, climate adaptation strategies, and biodiversity conservation initiatives. Eligible participants include public authorities, private companies, NGOs, and research institutions working on environmental and climate challenges. Get Started

Neotec: Neotec represents a Spanish initiative delivering €250K-€1M in funding for technology-based business creation and development, supporting the growth of innovative Spanish SMEs and start-ups. The program covers all technology sectors and aims to strengthen Spain's technology ecosystem. Funding is specifically targeted at Spanish technology-based SMEs and start-ups to enhance their competitiveness and market presence. Get Started

Thematic Priorities: EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas. Get Started

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