Frequently Asked Questions

The EIC Accelerator, formerly known as the SME Instrument Phase 2, offers blended financing (grant and equity) to startups and SMEs under the Horizon Europe program. It supports innovative companies looking to scale up and bring their innovations to market.

Clear and transparent communication from the EASME and EIC is crucial. They should provide real-time updates on 'YES' and 'NO' counts and thresholds, and explain how evaluation steps are repeated if necessary.

The EIC Accelerator is the updated version of the SME Instrument under the Horizon Europe program. Key changes include the evaluation process and the introduction of blended financing (grant and equity).

If the EIC and EASME receive too many 'YES' grades in Step 1, they might increase the strictness of the 'YES/NO' evaluations for later applicants. This could make it harder for those who apply later to pass Step 1.

Applying early to Step 1 could secure your spot for the Step 2 evaluation. With a continuously open call, a high volume of early 'YES' evaluations might lead to increased competition and stricter evaluations for later applicants.

Step 2 involves a more in-depth evaluation of the full proposals from applicants who passed Step 1. Successful completion of Step 2 leads to consideration for Step 3 and potential funding.

The 'freezing period' refers to a time when applications are not accepted or evaluated. Applicants might want to postpone their application to avoid this period and potentially increase their chances of success.

The EIC Accelerator uses a 'YES' or 'NO' grading system for Step 1. Unlike previous scoring systems, there's no ranking of proposals. A 'YES' theoretically guarantees advancement to Step 2, provided there are available slots.

The Step 1 proposal requires three main documents: a written proposal text, a pitch deck (limited to 10 slides), and a short pitch video. It's generally recommended to start with the written proposal to frame the application, then create the pitch deck, and finally record the video.

Letters of Intent (LOI) are important for the Step 2 application. Obtaining LOIs from relevant stakeholders can take weeks or even months, so it's advisable to send out requests as early as possible to meet the deadline.

You should plan at least 2 weeks for the interview preparation. This should include extensive practice calls (at least 5) and a detailed analysis of all proposal materials to ensure familiarity with the content.

The Step 2 application requires several annexes, including Letters of Intent (LOI), a Freedom to Operate Analysis (FTO), a Data Management Plan (DMP), a financial spreadsheet, a pitch deck, and a free 10-page overview document.

Applicants should allocate at least two months for the preparation of the EIC Accelerator Step 2 application. This step is the most difficult and lengthy, requiring a comprehensive business plan and several supporting documents.

The 10-page annex acts as a visual guide to the proposal, a company overview, and a reference library. It's a place to include images and photographs, as the main proposal text is devoid of any images.

If you have a good understanding of your company and technology, and are an efficient writer, the Step 1 proposal text can be prepared in under a week. However, if the project requires significant research or adjustments to the market, technology, or narrative, plan for at least two to three weeks.

No, the EIC Accelerator videos are not graded on production quality. While some minimal editing is recommended, it's sufficient to record a simple video call. You can also use existing footage like advertisements or interviews if you have them available.

The evaluation of the Step 1 proposal can vary, but generally, you should expect a duration of around 3 weeks. If you have all the necessary templates ready, you can start preparing for Step 2 while waiting for the Step 1 results.

A company obtaining the Step 3 GO grading (funding approval) within 6 months is considered fast, and this is generally only possible if no rejections occur. Obtaining at least one rejection in Step 2 or Step 3 is common, and timelines for most applicants are often significantly longer than 6 months.

Platforms like YouTube and Udemy offer a wide range of tutorials for graphic design software such as Adobe Illustrator and Corel Draw. These resources can help you learn the basics of creating visuals for your grant application. Focus on creating clear, concise, and visually appealing graphics that support your narrative.

Active involvement from the CEO, CTO, and CFO is crucial for a successful grant application. Their combined expertise ensures a comprehensive and well-aligned proposal. Proposals that are rushed or outsourced at the last minute often lack the necessary depth and strategic focus, significantly reducing their chances of success.

Successful EIC Accelerator applications are often confidential, but you might try contacting past beneficiaries directly, offering to sign an NDA in exchange for reviewing their proposal. Another option is to explore working as a freelancer for consultancies that specialize in grant writing, as they often have access to examples. Some consultancies also provide examples to prospective clients.

Grant writing storytelling isn't about fiction; it's about creating a compelling narrative that connects the problem your innovation addresses to the solution you offer. This narrative should align with EU policies and highlight the social and environmental impact of your project. Scientific articles, especially in fields like chemistry or biology, can provide examples of how to weave such narratives.

Business plans provide a solid framework for your grant application, covering key aspects like market analysis and financial projections. While they may lack the storytelling element crucial for EIC Accelerator, they offer a valuable foundation. Look for free business plan examples from consultancies, accelerators, or investment firms to get started.

A strong narrative, compelling visuals, and a clear connection to EU priorities are essential. Ensure your application is well-structured, easy to read, and highlights the impact of your innovation. Most importantly, demonstrate a deep understanding of the problem you're solving and the market opportunity.

Lack of experience can be overcome by studying successful examples, practicing with business plans, and focusing on storytelling. Consider seeking guidance from experienced grant writers or consultancies. The key is to learn from available resources and dedicate time to improving your skills.

Many consultancies, business accelerators, and investment companies offer free business plan examples. Search online for resources tailored to your industry or stage of development. These examples can provide valuable insights into structuring your own business plan and grant application.

Illustrations help communicate complex ideas quickly and effectively, especially given the limited time evaluators have to review each application. Clear and appealing graphics can enhance the evaluator's understanding and improve their overall experience. Consider using tools like Adobe Illustrator or Corel Draw to create visuals that support your narrative.

Focus on studying business plans to build a strong foundation, mastering storytelling to connect with evaluators, using illustrations to communicate effectively, and ensuring the active involvement of your management team. These elements, combined with grant writing experience, greatly increase your chances of success.

The EIC template generally includes slides covering the title, company purpose, problem & solution, value proposition, market opportunity & risks, competition, business model, commercialisation & marketing strategy, financial projections, team, and a conclusion.

The EIC Accelerator pitch interview is part of the evaluation process where startups and SMEs are questioned by a jury from the European Innovation Council (EIC) and the European Agency for SMEs (EASME). It's a chance to present your project and answer questions to justify your application for funding.

Entertainment value, including a good storyline, eloquent speakers, and clear communication, is crucial. Even the best business idea will fail if the jury is bored or not captivated by the pitch.

The SlideBean approach omits aspects like company mission and risk mitigation, focusing instead on telling a captivating story. It prioritizes clarity and engagement over overwhelming the audience with facts.

The SlideBean approach is recommended because it prioritizes storytelling and a leaner structure. This helps to keep the jury engaged and makes it easier to convey a clear message.

The primary focus should be on inspiring the jury and conveying a simple, clear idea. Avoid overloading the deck with too much information, and prioritize storytelling to keep the audience engaged.

Justification for EU funding can be added to the last slide of the pitch deck, or simply addressed during the Q&A session. The jury will likely ask about it anyway.

While there was a template created in 2017, it is now considered outdated. The European Commission doesn't provide a strict, in-depth guideline, so applicants need to be creative and adapt their pitch decks to the specific project.

The SlideBean approach focuses on a leaner structure and storytelling. Key slides include problem, solution, product, market size, business model, underlying magic, competition, differentiators, marketing, team, and traction & milestones.

The EIC template can be overcrowded with information, potentially turning the pitch deck into a text-heavy document. This can make it difficult to convey a simple, inspiring message to the jury.

While EU grants offer significant funding, explore national or regional grant programs as well. These local alternatives often have less competition and may have requirements that better suit your startup. Consider the Cyprus Entrepreneurship Fund (CYPEF) as an example of a national program supported by the European Investment Bank (EIB).

The EIC Accelerator has a strong support network of professional writers and expert consultancies. These professionals can provide guidance and assistance with preparing a compelling application. Consider contacting a professional writer specializing in EU grant applications to improve your chances of success.

The topic of the funding call is the single most important aspect. It defines what the evaluators are looking for and which companies have the highest chance of success. Carefully review the call's focus area and ensure your project aligns with its objectives.

The EIC Accelerator focuses on innovative and disruptive projects from for-profit businesses that have reached a certain Technology Readiness Level (TRL). The program looks for companies with high-growth potential and groundbreaking ideas that can create new markets or disrupt existing ones. Make sure your project aligns with these criteria to increase your chances of success.

Currently, the EIC Accelerator is designed for single applicants only. You cannot apply as a consortium of multiple companies. While the predecessor program, SME Instrument, allowed consortia, the EIC Accelerator as of 2020 requires a single company to lead the application.

Yes, some EU grant programs specifically target projects related to the Green Deal. These programs aim to support companies and initiatives that contribute to environmental sustainability and address climate change. Look for calls that explicitly mention the Green Deal or related environmental objectives.

The number of times you can apply depends on the specific funding call. Some calls have restrictions due to limited cut-off dates or imposed freeze-periods. Check the specific rules of the grant program to understand if re-submissions are allowed and plan your application strategy accordingly.

Yes, applying in your native language can significantly simplify the application process for local grants. This can help you better articulate your project and avoid potential misunderstandings. However, always confirm the official language requirements of the specific grant program.

Technology Readiness Level (TRL) indicates the maturity of your technology. The EIC Accelerator requires projects to be at a certain TRL, demonstrating that the technology is beyond the initial research phase and closer to commercialization. Understand the required TRL for the call and ensure your project meets the criteria.

Key Enabling Technologies (KETs) are technologies considered essential for driving innovation and economic growth. Some EU grant programs prioritize projects that utilize or develop KETs. Check if the funding call emphasizes KETs and highlight their relevance in your application if applicable.

Financial projections, costs, and work packages could be visualized using automatically generated charts, similar to platforms like Eurostat. This would make applications leaner and allow the implementation section to focus on tasks, risks, and team members rather than financials.

The concept involves creating an online platform where past EIC Accelerator applicants can participate in pitch sessions outside the standard application process. This would provide additional opportunities for companies to secure funding and connect with investors.