Frequently Asked Questions

'Non-bankability' refers to the EIC Accelerator's focus on funding projects that are unlikely to receive traditional bank loans or venture capital. This is often due to the high risk, long development timelines, or uncertain returns associated with DeepTech innovations. You need to demonstrate why your project requires the EIC's unique blended financing approach.

Not necessarily, but it can make it harder to argue 'non-bankability,' a key EIC Accelerator criterion. If you've raised substantial VC rounds, especially during the EIC evaluation process, be prepared to clearly justify why you still need EIC funding and how it differs from what you've already secured. The EIC prioritizes companies that can't easily obtain funding elsewhere.

You need to clearly articulate the benefits of your innovation for the European landscape. Focus on how your business will contribute to wealth creation, GDP growth, and employment within the EU. Even if the impact isn't immediately apparent, a well-defined explanation of the benefits is crucial.

The EIC Accelerator evaluation process involves multiple steps, including a written proposal and a pitch interview. The blog post mentions three evaluation steps, and being dismissed at any stage is possible if your project violates the negative criteria. Ensure you address these criteria proactively in your application.

It's wise to first self-assess your project against the negative criteria outlined in the blog post. This will help you determine if your company is a good fit for the EIC Accelerator before investing in professional help. Understanding these criteria can save you time and resources.

The blog post suggests that Europe should focus on supporting all great companies, implying that UK-based companies *could* still be considered. However, Brexit may introduce additional complexities. Check the latest official EIC guidelines for specific eligibility criteria regarding UK-based applicants.

Yes, but you must ensure your innovation doesn't directly contradict key EU targets or policies. For example, a project that supports fossil fuel exploration would likely be rejected due to the EU's commitment to phasing out fossil fuels. Align your project with EU priorities for a better chance of success.

The EIC Accelerator has a strong preference for DeepTech innovations like health tech, energy, and environmental solutions. While other types of projects, such as apps or social networks, aren't automatically excluded, they face a higher hurdle. You'll need to strongly demonstrate your transformative impact on the EU to be competitive.

Stay informed about the official publication of the EIC Accelerator 2021 Work Programme. Start preparing your pitch video, focusing on your team, innovation, and business model. Also, refine your project's business plan and impact assessment for the long application.

Freezing periods restrict the number of times you can resubmit your application. While the specifics are still being defined, it's expected that applicants will have at least two opportunities to submit a successful grant application. Plan your submissions strategically.

Thematic topics are specific areas with dedicated budgets and goals. Applicants can choose which topic best aligns with their project. Remember that different topics will likely have varying levels of competition, evaluation criteria, and budget allocations.

The official details will be published in the EIC Accelerator 2021 Work Programme by the European Innovation Council (EIC) and European Commission (EC). Keep an eye out for this document, as it will provide answers to the most pressing questions.

The EIC Accelerator (formerly SME Instrument Phase 2) provides blended financing (grant and equity) to startups and SMEs. It aims to support innovative projects with high growth potential. If you're a startup or SME with a groundbreaking idea, this program could be for you.

The pitch video should focus on the founders, the innovation, and the business model. Be aware of any restrictions imposed on the video, as these could impact your ability to compete effectively. Aim for a clear and concise presentation of your project's key aspects.

Yes, the Seal of Excellence (SoE) is expected to remain part of the evaluation results. However, it's currently unclear how they will be awarded since detailed scores are no longer expected to be given.

One potential issue is that the number of projects receiving a YES in the initial steps might exceed the capacity for jury interviews. This could lead to overloaded evaluations or a non-transparent selection process if a pre-defined number of applicants advance without clear ranking criteria.

The 2021 EIC Accelerator features a three-step application process: a short application with a pitch video, a long application, and a jury interview. The scoring system is also changing from detailed scores to a simple YES/NO grading for each evaluation step.

The YES/NO grading system may lead to a less transparent evaluation process. Without detailed scores, it could be harder to understand why a project was accepted or rejected, potentially increasing the perception of 'black box' decision-making.

The proposed process screens projects for their impact on EU-relevant targets early in Round 1. The business plan is only assessed after the EU determines that the project aligns with its priorities.

Round 1b is an internal round designed to further narrow down the applicant pool if the initial number of applications is exceptionally high (e.g., 6,000). It involves a similar knock-out process with new evaluators.

Dynamic feedback involves evaluators sending questions or critical assessments to applicants, who then have a limited time to respond. This allows for a more informed decision and helps identify qualified evaluators through internal data collection.

Instead of individual scoring, applications would be evaluated in topic-based knock-out rounds. Three keyword-matched applications are compared, and the superior project receives a 'YES' while the others receive a 'NO', based on multiple evaluator assessments.

All applicants would receive a 300-word feedback report (100 words from each evaluator) summarizing the reasons for their selection or rejection. This provides valuable insights for future applications.

By using a one-page executive summary and a pitch video in Round 1, the writing burden is significantly reduced. This simplifies the evaluation process and reduces the need for SMEs to learn EU-specific terminology.

Applicants would submit a one-page executive summary (300-word limit), fill out information on costs, financials, team, and EU policy alignment in submission forms, and upload a 10-minute pitch video with creative freedom.

The Seal of Excellence is awarded to the approximately 667 applications (11%) selected after Round 1b (if conducted). It's a quality label recognizing promising project proposals.

The EIC should offer specific, actionable feedback from human evaluators, even for rejected applications. A single paragraph of constructive criticism, along with examples of successful proposals, would greatly improve the application process for SMEs.

The current process lacks transparency and direct communication. Applicants often rely on expensive consultants because the EIC doesn't provide clear examples of successful applications or useful feedback, making it a 'black box' for SMEs.

A linear process evaluates applications individually and ranks them. A convergent process compares applications directly to determine which are superior, as seen in the EIC Accelerator pitch interviews.

The EIC aims to strike a balance between a thorough evaluation and a streamlined process. They want to avoid overly complex applications that deter strong companies while also preventing the funding of unsuitable projects.

Potential issues include unfair matching of projects and the possibility of good projects being eliminated due to 'bad luck' in the draw. However, the reduced time investment in proposal writing could offset these risks.

A convergent evaluation process involves comparing projects directly against each other to identify the 'more worthy' ones. This approach prioritizes relative merit over individual assessment, potentially saving time and resources.

The current process focuses on assessing the individual worth of each company, which is time-consuming and resource-intensive. Ultimately, only the relative worth of projects matters, as demonstrated in the pitch interviews where projects are compared against each other.

In a knock-out system, applications would be randomly matched and compared, with the superior project advancing. Multiple rounds of elimination would quickly reduce the number of applicants, streamlining the evaluation process.

EIC Accelerator applications are complex and require significant time and resources. Startups often lack the in-house expertise to navigate the application process effectively, leading them to hire consultants or writers to improve their chances of success.

A single knock-out round comparing two projects would reduce the applicant pool by 50%. Subsequent rounds, or variations comparing more projects at once, could further accelerate the reduction.

The EIC is attempting to optimize the process and improve the selection of projects. However, adding more steps can discourage applicants and increase the overall burden on both applicants and evaluators.

The demanding application process can be a barrier for smaller companies that may not have the time or resources to dedicate to perfecting their application. This can unintentionally exclude innovative projects from consideration.

While not strictly mandatory before applying, the absence of work packages can be a red flag. It suggests a lack of planning or that your project might be too early-stage for the EIC Accelerator. Ideally, you should have some form of internal development plan that can be refined into detailed work packages.

Be as specific and quantified as possible. Aim for a level of detail that allows progress to be tracked on a monthly or even weekly basis. The more detail you provide, the more confident the evaluators will be in your ability to execute the project successfully.

Yes, absolutely. If your previous application received a low Implementation score, reviewing and editing your work packages should be a top priority before resubmitting. Ensure they are clear, quantified, and demonstrate a realistic and well-planned execution strategy.

That's a common situation, especially for startups with adaptable technologies. The good news is that a preliminary plan can be edited and improved to meet the EIC Accelerator's requirements. Focus on adding specific tasks, quantification, and a clear timeline to strengthen your proposal.

Feasibility assessment tasks (like market analysis) determine if the project is viable, while development tasks (like technical development) execute the project. The EIC Accelerator primarily funds development tasks. Feasibility should already be established and described elsewhere in your proposal.

Yes, your work package budget should clearly separate the requested grant funding from any equity contributions. This provides a comprehensive view of the financial resources allocated to each task and helps the EIC understand how the funding will be used.

Each work package should detail the budget (grant and equity contributions), timeline (start and end dates for tasks), and responsible personnel (project managers, task leaders). Be specific and quantify everything as much as possible. This includes milestones, KPIs, and deliverables, all aligned with the overall project timeline.

Work packages are crucial because they provide a clear roadmap for how you'll use the requested funding. They demonstrate to the EIC that you have a well-thought-out plan, making it easier for them to assess the feasibility and credibility of your project. They also facilitate tracking progress and managing accountability if your project is funded.

A work package is a defined set of tasks and development plans focused on achieving a specific deliverable. It's a structured way to break down your project into manageable components, making it easier to plan, budget, and track progress. The EIC Accelerator typically recommends using five work packages to cover the entire project scope.

Work packages help validate the overall development timeline and demonstrate how your project will advance through different TRLs. By clearly outlining the tasks and deliverables within each work package, you can show the EIC how your innovation will progress from its current stage to a close-to-market solution.

If a grant has a success rate below 50%, it should be considered an optional part of your company's financial strategy. Pursue grant applications as part of a broader roadmap that includes private funding sources to mitigate the risk of not securing the grant.

While grants may seem like 'free money,' governments view them as investments with specific goals. Securing a grant requires significant effort in preparing a compelling application, and the process is highly competitive, making it far from easy or guaranteed.