Disrupting Grant Consulting, EIC Accelerator Evaluation Errors, Board Seats for MedTech and EIC Fund Miscalculations

Here are some updates and thoughts on EIC grants and grant consulting in general.

Does the EIC Take Board Seats?

Yes, they do. While it is known that the EIC Fund reserves the right to take board seats in funded companies, I have not yet seen a comprehensive list of all such cases.

Luckily, I was able to obtain the following list that shows each EIC Fund portfolio company, its industry, and the name of the EIC-appointed board member:

1. Altaroad: ConstructionTech (AI-based construction logistics, material flow, and waste traceability). Board Seat: Beatrice Causse

2. BOYDSense: MedTech (non-invasive breath diagnostics and glucose monitoring). Board Seat: Julie Waras Brogen

3. CO2BioClean: Industrial biotechnology (CO₂ utilization and biodegradable bioplastics). Board Seat: Julie Drapier

4. Electrochaea: Clean energy (power-to-gas and renewable e-methane production). Board Seat: Catherine Gras

5. Nexdot: Nanotechnology / advanced materials (quantum dots and nanocrystals). Board Seat: Fabrice Garrigue

6. CorWave: MedTech (cardiovascular devices and implantable heart-assist pumps). Board Seat: Anne Reiser

7. Invoier: FinTech (invoice financing and digital factoring marketplace). Board Seat: Anya Hayden

8. Wingtra: Drone technology / geospatial (professional surveying and aerial mapping). Board Seat: Marc Kegealers

9. Novus Diagnostics: MedTech / diagnostics (rapid point-of-care infectious disease and sepsis testing). Board Seat: Margrit Schwarz

10. Microsure BV: MedTech / surgical robotics (robot-assisted microsurgery). Board Seat: Anne Reiser

11. TILT Biotherapeutics: Biotechnology / oncology (oncolytic viruses and cancer immunotherapy). Board Seat: Julie Waras Brogen

12. Plasmacure BV: MedTech / wound care (cold-plasma treatment for chronic and complex wounds). Board Seat: Inez de Greef-Van der Sandt

13. Antabio SAS: Biopharmaceuticals / infectious diseases (treatments for antimicrobial-resistant bacterial infections). Board Seat: Araz Raoof

14. ARTHEx Biotech S.L.: Biotechnology / rare diseases (RNA therapeutics for neuromuscular disorders). Board Seat: Andreas Schmidt

15. Axelera AI: Semiconductors / AI hardware (energy-efficient AI acceleration chips for edge and data-centre computing). Board Seat: Osman Kent

I was very surprised by this list.

First, 15 board seats for 235 companies are a very small number. Secondly, I expected board seats to be reserved for strategically important industries like semiconductors, energy, raw materials, cybersecurity, and similar areas, but the list is very MedTech- and BioTech-heavy.

Maybe the EIC lacked the leverage to take seats in the more critical companies? This could be due to the small stake taken by most EIC Fund investments.

Alternatively, the company might simply decline an EIC Fund investment because the EIC does not bring strategic value, is a very slow investor, and potentially adds complications due to EU regulations.

Throwback: Nearfield Instruments

An interesting case is Nearfield Instruments, which was selected for a €2.5 million grant about two years ago and, just days later, announced it had closed a €135 million Series C round.

From a grant perspective, there was no reason for the EIC to fund them since they evidently had no issues obtaining private funding without the EIC.

Still, one could argue that the EIC would later be able to participate through the €15 million in requested equity funding, but, as it turned out, Nearfield Instruments raised its $380 million Series D (yes, that is not a euro sign) less than a month ago, without the EIC Fund.

Whatever the EIC's strategy was, it yielded neither an ownership stake nor a board seat for a company that has clear strategic importance (e.g., semiconductor manufacturing).

And any further funding rounds would far exceed the EIC Fund's budget, so this seems to be the end of the story.

EIC Accelerator Evaluation Mishaps

The Step 1 evaluations currently last about five weeks, but I have observed a concerning trend in the quality of the evaluation process. I have already reported in a previous newsletter on different companies that received identical comments and even on one Step 3 interviewee who was interviewed by the wrong jury.

The latest addition to that trend is a company with a complete mix-up: one evaluator assessed an entirely different proposal and even named the other company.

Another company was entirely forgotten: they had their Step 2 interview with the expert and only received a response one month after the official results were released, only to be informed that they were pushed to the Step 3 interviews in October.

What’s going on at the EIC?

Note: The next EIC Accelerator Step 3 interviews will be held in the week of October 19th, 2026.

Disrupting Innovation Consultancies

I have recently hinted at a major, globally active grant consultancy in financial trouble, likely caused by AI disruption and changing customer demands. The case has now progressed towards insolvency and legal protection from creditors.

I believe this is only the first of many cases to come.

The old model of grant consulting revolved around a piece of work (the proposal) being created by the service provider (the consultant). But this model is slowly falling apart due to AI agents that have become the gatekeepers of information (e.g., company knowledge bases) and active participants in writing and review processes.

AI Grant Writers

I am still surprised by the number of AI grant-writing apps that have launched over the last 12 months and by how often I have been contacted by founders trying to get consultants (and their expertise) on board to integrate their knowledge, but also to win them as customers.

I have also been contacted by grant consultancies looking for AI tools (ChatEIC) to automate their internal writing process.

I believe that both approaches are short-sighted and bound to fail.

If you, as a consultancy, can integrate AI tools to automate the process, then so can your clients.

If you let a third party take over your grant writing, then they will remove you from the equation once they have all the expertise they need.

Shifting Tides: A Temporary Business Model

On top of the obvious issues with consultancies outsourcing the writing, I believe that most AI grant-writing apps will be outdated in one or two years.

An AI agent like Claude or Codex can be injected with a custom skill by an experienced consultant in less than a day and is already superior to general grant-writing apps due to niche specialization.

Automating the process with the help of grant-writing apps is therefore not a survival strategy for grant consultancies.

At best, it is a temporary band-aid and a candle burning at both ends.

Principle: Get Closer, Don’t Distance Yourself

The way for grant consultancies to survive is not to move away from their clients but to double down on relationships and service work.

The core of consulting lies in expertise (e.g., evaluation process and criteria), not the task (e.g., writing).

While the writing is becoming outdated, the service, expertise, and guidance are more relevant than ever.

The market is now shifting towards applicants bringing their own writers and knowledge bases (e.g., Claude or Codex), so the service they want from a consultancy is primarily guidance and a meaningful impact on their chances of success.

That means the project fees charged by consultancies will move down while the number of clients they can service will move up due to offloading the task burden to AI.

As a result, the core factor that every grant consultancy needs to survive is a growing distribution channel and the ability to build long-term relationships, not a dedicated AI tool, since most applicants already have that covered.

Next Level Grant Writing

Nowadays, applicants need to know their grant proposals inside out due to interviews and follow-on assessments. There is little room to fully outsource the proposal writing since applicants will be questioned for high-stakes grants like the EIC Accelerator.

There are a few important principles when writing grant proposals in 2026:

• Applicants must be involved in the writing process, which allows them to take ownership of the content.

• The process must allow agent-first writing and review (e.g., let agents communicate via Baibylon). Applicants bring their own writers.

• The main value lies in the expertise and guidance, not the writing itself.

• Distribution channels are more important than ever, and service models must change radically.

Prepare Your Application

Need help with the EIC Accelerator or other grants? Here are some options:

• Starter Pack (lowest-risk entry via AI writer ChatEIC and content)
• Advisory (personalized guidance to help you write)
• Writing (complete end-to-end service, including writing and submission)
• Review (personal proposal review by an expert)

Other resources:

• Baibylon: Your AI Agent Inbox
• Subsdy (AI grant discovery)
• My Subsdy Profile
• Newsletter (share this newsletter with a colleague)
• Subscribe via Telegram (get updates in the Telegram channel)
• Contact me directly
• Flaxd: Strategic Startup Consulting

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.

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. Technology areas include Biotech, Engineering, Artificial Intelligence, Energy, Quantum, Aerospace, Advanced Materials, and Semiconductors. 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 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 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 Advanced Innovation Challenges: EIC Advanced Innovation Challenges represents a new pilot initiative delivering €300,000 (Stage 1) and up to €2.5 million (Stage 2) for breakthrough deep-tech innovations through ARPA-style staged funding mechanisms with integrated demand-side engagement. This initiative targets single entities or small consortia (2-3 partners) including SMEs, start-ups, and research organizations. Primary focus areas include Physical AI for autonomous robotics applications and New Approach Methodologies (NAMs) for animal-free biomedical testing, with TRL 4 entry requirements and demonstrated end-user commitment. Get Started

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

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

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

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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