Frequently Asked Questions

Uniqueness can manifest in many ways. It could be a proprietary technology, a novel user interface, a unique business model, or a significantly improved performance metric compared to existing solutions. The key is that it sets you apart.

A superior user experience can be a significant differentiator. While being ahead of the competition is ideal, a much better UX can attract users who are dissatisfied with existing solutions. Focus on highlighting and improving the user experience.

Being significantly cheaper can be a strong advantage, even without complete uniqueness. Cost is a major factor for many customers, so a lower price point can drive adoption and market share. Make sure your cost advantage is sustainable.

Think about the specific benefits your product offers to potential customers. Will it save them time, money, or effort? Does it solve a problem they currently face? The more concrete and compelling the benefit, the stronger the 'tangible reason' to buy.

Conduct market research through surveys, interviews, and analyzing existing market data. Look for evidence that people are actively seeking solutions to the problem your project addresses. Analyze competitor offerings and identify unmet needs.

Ideally, you want both a unique offering and strong market demand. However, a very strong advantage in one area can sometimes compensate for a weakness in the other. Assess the strengths and weaknesses of your project holistically.

A small market can be a challenge. While uniqueness is important, a lack of demand can hinder growth and sustainability. Consider if the market can be expanded or if the unique aspect justifies a higher price point that a smaller, niche market would pay.

I primarily look for two key components: whether the project is ahead of the competition with a unique aspect, and if there's a strong market demand for the product or service being offered. These factors help determine if the application has a good chance of success.

Being in the prototype stage means you have a working model of your product or app. This model should demonstrate the core functionality and allow you to gather feedback. It's about proving your concept is viable before investing heavily in full-scale development.

Demonstrate that your product works as intended and meets its design specifications. Conduct tests to validate its performance, durability, and safety. Gather data to support your claims and showcase its unique features.

While not always essential, retailer commitments provide strong validation of your product's potential. It shows that businesses are willing to invest in your product and believe it will be successful. Focus on building relationships with potential retailers and showcasing the benefits of your prototype.

Once you've validated your prototype and gathered positive feedback, you can move on to the next stage of development. This might involve securing funding, scaling up production, or launching your product to a wider audience. Celebrate your progress and keep iterating based on user feedback.

Look for commitments from retailers or companies if you're targeting businesses (B2B). For consumer products (B2C), try to secure pre-sales or gauge interest through surveys and market research. Positive responses indicate a potential market for your product.

Feedback is crucial because it helps you identify areas for improvement and validate your assumptions. It ensures you're building something that meets user needs and solves a real problem. Use feedback to refine your prototype and increase its chances of success.

Analyze the feedback carefully to identify patterns and trends. Prioritize the most important issues and develop a plan to address them. Use the feedback to iterate on your prototype and make it even better.

Don't be discouraged! It simply means you need to focus on gathering more feedback and validating your concept. Consider offering free trials or demos to attract users and generate interest. Use their feedback to improve your prototype and increase its appeal.

Focus on feedback related to the app's effectiveness and user experience. Ask users if the app helps them achieve their goals, if it's easy to use, and if they encounter any bugs or frustrations. Quantify the benefits if possible, like cost savings or time efficiency.

If your prototype lowers costs, calculate the percentage or absolute value of the savings. If it improves efficiency, measure the time saved or the increase in output. Use concrete data to demonstrate the value proposition of your solution.

The EIC Accelerator pitch video is limited to 3 minutes, so a well-written script is crucial. It ensures you cover all relevant project aspects concisely, allowing for easy editing without losing the storyline. A strong script acts as a reliable guide for the video editor, ensuring a cohesive narrative even if parts are cut.

While extensive coaching may not be possible, provide general guidance on body language, tone of voice, and facial expressions. Encourage them to speak passionately about their project and its potential impact. Authenticity is key, so help them find ways to showcase their genuine enthusiasm.

Embrace remote collaboration. Use video conferencing tools to conduct interviews and record footage. Consider having team members record short video clips individually and then edit them together. Be flexible and adapt your approach to accommodate their location constraints.

Don't just cut footage together. Use small editing techniques like stock footage, effects, and titles to enhance the video's quality. Aim to create an entertaining video that captures the viewer's attention from start to finish. The goal is for evaluators to find the project interesting and the team impressive.

The goal is for the evaluators to think, "Wow, the project seems really interesting and the team seems great!" The video should leave a positive impression of both the project's potential and the team's competence and motivation. A bland video might negatively impact the first impression.

Video editing is valuable for giving the footage a professional look and grabbing the viewer's attention. While professional production quality isn't a requirement, editing can significantly enhance the video's impact. Use editing to create a clear narrative, highlight key information, and maintain viewer engagement.

Recognize that each client has a unique starting point regarding content creation. Some may have extensive footage, while others have none. Tailor your approach to their specific needs and available resources. Also, consider the nature of their technology, as some are easier to visualize in video than others.

Focus on good lighting, a clean background, and stable camera work. Natural light is often best, and a simple, uncluttered background can make a big difference. Use a tripod or stable surface to avoid shaky footage. Ensure the audio is clear and free of background noise.

The acronym serves as a short project identifier, while the tagline provides a concise overview of your project. Both are crucial for quickly communicating the essence of your proposal to evaluators and, if funded, to the public.

Your abstract should concisely summarize your project, following a structured approach: Problem, Market Pain Point & Competitors, Your Solution, Your Current State, Your Commercial & Market Impact, and EU Benefits. Ensure every sentence is packed with relevant information.

The EU regularly publishes a list of all evaluators involved in the SME Instrument program. Check the official EU funding portal or related documentation to find the most up-to-date list.

Yes, if your project receives funding, the abstract, acronym, and tagline you provide will be published by the EU. Ensure they accurately and effectively represent your project.

The keywords you select determine the background and expertise of the evaluators assigned to review your proposal. Choose keywords that accurately reflect your project's focus to ensure appropriate evaluation.

While proposal writing is crucial, other factors like providing accurate legal and financial data, as well as ensuring proper company registration, are also essential for a successful application.

The abstract for your SME Instrument proposal has a strict character limit of 2000 characters. Be mindful of this limit and ensure your abstract is concise and impactful.

No, the acronym doesn't necessarily need to have a direct meaning. You have the freedom to be creative when choosing an acronym for your SME Instrument proposal.

Yes, if you suspect a conflict of interest, you can exclude specific reviewers from evaluating your proposal. The EU publishes a list of all evaluators for the SME Instrument.

While innovative technology is important, the EIC Accelerator places a strong emphasis on the business model, especially during the Step 3 interviews. A clear and validated commercial strategy is crucial for securing funding.

A good strategy is to present a complicated and innovative technology alongside a clear, proven, and simple commercial strategy. The jury has a higher tolerance for technological uncertainty than for commercial uncertainty.

Companies should have extensive validation of both their technology and, especially, their business model. While the initial evaluation steps focus on innovation, the final interview stage prioritizes financial and commercial validation.

While ambition is good, focus on demonstrating a clear path to commercial success. The EIC jury prefers projects with a solid foundation and proven market potential over purely speculative or highly uncertain ventures.

Yes, according to the blog post, companies unable to secure financing outside the EIC Accelerator may have a lower chance of success within the program. External funding can be seen as validation.

Truly disruptive projects often lack the market validation that the EIC jury prefers. Consider focusing on demonstrating the potential market and de-risking the commercial strategy as much as possible to increase your chances of success.

Yes, highlighting the social benefits your project brings to the EU can significantly strengthen your application. Funders often prioritize projects that contribute to broader societal goals.

Having a highly experienced and capable team is crucial. Highlight your team's relevant work experience, past projects, education, and support network to showcase your ability to execute the project successfully.

Addressing a promising market segment means targeting a market that shows strong growth potential, has a substantial size, and faces relatively limited competition. Demonstrating this in your proposal is crucial.

Recognition such as awards, features in publications, or other forms of acknowledgement can greatly improve your chances. It provides external validation of your project's innovative potential and impact.

No, your project should demonstrate potential for expansion beyond the immediate Phase 2 developments. Show that your project has long-term viability and can be scaled up within the next decade.

While not strictly essential, having existing financial backing from sources like your own revenues, a parent company, or private investors significantly strengthens your application. It demonstrates confidence in your project's viability.

Yes, every image and table should have a caption. The image or table, along with its caption, should be self-explanatory. It should support or deepen a point made in the text, not introduce a new one.

Reproduce market projections, charts, and other relevant graphics to ensure they are high-quality and fit your proposal's color scheme and font sizes. This ensures a professional and consistent presentation of your data.

It's generally better to create images and tables specifically for your proposal. Existing ones might not fit the color scheme, have low resolution, or use unsuitable font sizes. Tailoring them ensures a cohesive and professional look.