Frequently Asked Questions

The EIC Accelerator may evolve by separating grant and equity options, becoming a VC-Hub for past applicants, adjusting evaluation criteria to focus on core business aspects, and simplifying bureaucracy through better use of online forms and data visualization.

There's a push to ensure that the evaluation criteria primarily focus on innovation, business models, and financial success. Currently, projects addressing societal challenges or with female CEOs may receive preferential treatment, which some argue obscures the focus on core business fundamentals.

The EIC Accelerator program is designed for startups and Small- and Medium-Sized Enterprises (SMEs) that are developing highly innovative technologies with the potential for significant impact. The program aims to support these companies in scaling up and commercializing their innovations.

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.

One proposed solution is to leverage online form fields for direct input of cost items, subcontractor details, and budget allocations. This would enable algorithms to quickly assess the information and track project progress more efficiently, reducing the burden on evaluators.

The EIC Accelerator blended financing, formerly known as SME Instrument Phase 2, provides both grant and equity financing to startups and SMEs. It offers substantial financial support, up to €17.5 million, along with coaching to help businesses grow and scale their innovative technologies within the EU.

The suggestion is to create dedicated calls for projects aligned with specific political targets, such as a 'Green Deal Call' for environmental projects. This approach would allow for fair evaluation within each call, ensuring that all applicants are assessed against the same criteria.

Keep an eye on official announcements from the European Innovation Council (EIC) and the European Commission (EC). Regularly check their websites and subscribe to newsletters for the latest updates on proposal requirements, funding opportunities, and related developments.

One potential solution is to establish a subsidiary or parent company within an EU member state, such as Ireland. This would allow the EU-based entity to apply for both grant and equity financing.

The current agreement states that UK companies can access grant funding but not equity financing. Any future changes would depend on negotiations between the UK and the EU.

Yes, UK companies can still apply for the grant portion of the EIC Accelerator, which provides up to €2.5 million in funding. However, they are not eligible for the equity financing component, which can provide up to €15 million.

The grant is non-dilutive funding, meaning you don't have to give up equity in your company to receive it. Equity financing, on the other hand, involves selling a portion of your company in exchange for investment.

Non-dilutive funding means that you don't have to give up any ownership or equity in your company to receive the funds. It's essentially free money to help grow your business.

The declaration can be found in Article 6 on page 21 of the official Horizon Europe documentation. This document confirms the UK's exclusion from the EIC Fund.

Due to Brexit agreements, the European Investment Bank (EIB) and the European Innovation Council (EIC) Fund are prohibited from investing in UK companies. This restriction prevents UK applicants from accessing the equity financing offered through the EIC Accelerator.

Yes, the UK government has explicitly acknowledged that UK entities cannot participate in the European Innovation Council (EIC) Fund under Horizon Europe. This is outlined in official documentation.

A UK company can receive a maximum grant of €2.5 million from the EIC Accelerator. This funding is intended to support innovation and growth within the company.

Yes, securing €2.5 million in non-dilutive grant financing is still a significant opportunity for UK startups and SMEs. It can provide crucial resources for research, development, and scaling up your business.

The responsibility for editing the final pitch video depends on the agreement you have with your consultant or any third-party contractors. It could be handled by the consultancy, a contractor, or even a member of your own team.

After the screen test, review the footage with your consultant or writer. Use their feedback to optimize the content, script, and execution of the shoot. This ensures you make necessary adjustments before the final recording session.

A two-stage production process, including a screen test and a real recording, typically yields superior results. The screen test allows for corrections and improvements, leading to a higher-quality final product with less effort and overhead.

A screen test is a practice run where you create a sample video to the best of your ability. It allows you to test your lighting, camera settings, microphone, and overall execution. This low-stakes practice helps identify and correct any issues before the final recording.

After the recording, the footage needs to be edited. This involves colour grading, basic corrections, and audio enhancements to ensure the highest quality. The editing can be done by the consultancy, a third-party contractor, or a team member, depending on your agreement.

The first step is planning the process. This involves discussing the core responsibilities of the shoot and clearly defining who is responsible for each aspect of the video production. This ensures everyone is on the same page from the beginning.

A well-prepared script is crucial because it allows you to plan the production in advance, clearly identifying the content, speakers, and setting. This helps avoid costly re-shoots and ensures the video's storyline is clear and engaging for the EIC Accelerator evaluators.

If your team lacks video expertise, your consultant should provide a shortlist of best practices. This includes tutorials, FAQs, tips and tricks, and recommendations for camera settings and lighting, all tailored to short EIC Accelerator pitch videos.

You should discuss all available resources, including existing footage, hardware like cameras and lights, and the skills of your team members. Knowing what you have available will help you plan the video shoot effectively and identify any gaps you need to fill.

The script should be comprehensive and rich in content to minimize the need for additional footage collection later. It's better to include extra content in the initial script and cut it during editing than to require a re-shoot due to insufficient footage.

The 'equity affair' refers to delays in the disbursement of equity financing to companies that were granted funding in 2019. Some companies only received part of their equity financing in 2021, causing frustration and uncertainty.

The EIC Accelerator application process has evolved. It now involves multiple steps, including an initial application, video submission, and in-person pitch interviews, adding to the workload for applicants.

Many startups find the official EIC Accelerator documentation unclear and policy-focused. They hire consultants to help them understand what the EU evaluators are looking for in a successful proposal and to improve their chances of securing funding.

The application process has become more complex, with the addition of in-person pitch interviews in 2018 and video submissions in 2021. These changes aim to filter applicants but also increase the burden on them.

The EIC faces a challenge: it wants to attract excellent companies and simplify the application process, but the high volume of applications forces it to increase evaluation barriers, ultimately making the process more complex and consultant-dependent.

While the EIC aims to be more entrepreneur-friendly, changes like increased evaluation steps and delays in equity financing suggest the process is becoming more complex and potentially less applicant-friendly for some startups.

The added steps, such as video production and pitch preparation, require skills that many DeepTech startups lack. This forces them to seek external help to meet the EIC's requirements and improve their chances of success.

The EIC Accelerator, formerly SME Instrument Phase 2, offers blended financing (grant and equity) up to €17.5M to startups and SMEs. It's designed to directly support innovative companies in the EU through an online application process.

The evaluation process is perceived as lacking transparency. This lack of clarity makes it difficult for applicants to understand what is expected and increases their reliance on consultants who claim to have insider knowledge.

Applying early to the EIC Accelerator is a strategy some companies use, but it's important to be aware that the evaluation process may not be entirely transparent, and early applications don't guarantee success.

Be realistic and back up your claims with solid evidence. Avoid exaggerations about market size, competition, or intellectual property. Acknowledge potential challenges and demonstrate a clear understanding of your market and business model.

Involve a diverse team in reviewing your project before applying. Include VCs, former EASME evaluators, industry experts, and technical specialists. This helps identify potential issues and strengthens your application from multiple viewpoints.

Conduct thorough research and planning before starting the application. Identify potential gaps in your knowledge and address them proactively. Be prepared to adapt your application as you uncover new information during the writing process.

Limited involvement from the management team can be detrimental. If they don't provide adequate feedback, the application can lack depth and crucial details. This can weaken the proposal and reduce its chances of success.

The EIC Accelerator requires strong written content, pitching skills, and video production. It's hard to fully assess these skills without extensive evaluation. An applicant's performance in these areas can significantly impact their chances.

Often, the full scope of a project only becomes clear during the writing process. While pre-assessments help, new aspects inevitably emerge. It's impossible to know everything upfront, making it hard to eliminate all uncertainties before starting the application.

Evaluators have diverse backgrounds and may not be experts in every field. Their understanding of business models or interest in a topic can vary. This introduces an element of chance, making it important to get diverse feedback before submitting.

While optimism is good, overly optimistic statements can be misleading. Claims like 'no competitors' or inflated market size need careful validation. Inaccurate information can weaken the application, and consultants can't always verify everything beforehand.

Assessing an EIC Accelerator project is complex because it requires a deep dive into many factors. Even if a project seems eligible, a professional needs time to uncover potential roadblocks. A quick assessment might miss crucial details that could hinder a successful application.

Not all seemingly 'good' projects receive equal EU policy support. Strong EU targets and policies are key indicators of a project's attractiveness. A lack of specific policies in your area can make securing funding more challenging.

While the blog post mentions that the official proposal template and manuals may not be the best resource for assessing eligibility, they are still important. You can find these documents on the European Innovation Council's official website. Search for 'EIC Accelerator' to locate the relevant resources.

The EIC prioritizes projects that have a significant, long-term impact on the European Union. This includes contributions to wealth creation, GDP growth, employment, and the advancement of key EU policies. Focus on demonstrating how your innovation will benefit European citizens and the European economy.