Frequently Asked Questions

The EIC will assess how a company has utilized past financing to determine its ability to manage resources effectively and achieve milestones. A history of inefficient spending or failure to demonstrate progress can negatively impact the application.

Timing is crucial because it indicates a strong potential for future business opportunity and product-market fit. Factors like regulatory trends, technological breakthroughs, or increased market demand can create a favorable environment for a company's success.

While early revenues are not always feasible, especially in certain industries, companies should aim to generate revenue as quickly as possible. Even without revenue, demonstrating market need through prototype testing, customer feedback, and strong Letters of Intent is crucial.

The current process risks further decreasing interview success rates and jeopardizing the integrity of the interview sessions. The increased number of jury members may reduce their overall quality and introduce more randomness into the selection process.

The EIC's binary grading system (GO/NO GO) in Step 2 makes it difficult to rank applicants. This means more companies proceed to the interview stage, diluting the selection rate and potentially impacting the quality of the jury due to increased demand for interviewers.

Applicants receive detailed feedback on rejected Step 2 proposals. This transparency allows for targeted improvements in resubmissions, potentially increasing the chances of success by addressing specific evaluator criticisms.

The EIC moved away from numerical scoring in favor of a binary (GO/NO GO) system in Step 2. This change was driven by a desire for innovation but removed the ability to rank applicants and create thresholds based on budget limitations.

In 2021, the EIC Accelerator budget was high, Horizon Europe launched, and financial markets were favorable. The June 2021 deadline saw unprecedented funding rates, but these rates have since normalized and shifted the focus towards Step 2.

No, it's not advisable to include as many risks as possible. The 'Risks' section should be well-balanced, presenting the project as risky but with effective mitigation strategies. Avoid oversharing potential problems and edging on pessimism.

The effort required for a resubmission depends on your initial score. Higher scores (e.g., 8/9) require minimal improvements, while lower scores (e.g., 1/9) necessitate substantial changes. Focus on addressing the specific feedback provided in the ESR.

A lacking 'Excellence' section often reflects issues with the technology description, the need for the technology, or its comparison to existing solutions. Focus on clearly explaining the technology's features, use cases, and its unique value proposition within the value chain. Also, clearly contrast your technology with competitors.

A strong 'Impact' section demonstrates how your product will change the market and the lives of customers. Highlight commercial traction with customer testimonials, LOIs, and early revenues. Provide a detailed market analysis and explain your technology adoption lifecycle (TALC).

The EIC Accelerator provides detailed feedback at each stage of the evaluation process. This helps applicants understand the strengths and weaknesses of their project. This feedback is delivered in the Evaluation Summary Report (ESR) after Step 2.

The ESR is provided after Step 2 of the EIC Accelerator application process. It contains detailed feedback from evaluators, including GO/NO GO ratings for various criteria. This feedback is crucial for understanding why your proposal was assessed the way it was and forms the basis for resubmission improvements.

The team section is crucial. Present a comprehensive team with all necessary competencies. Identify any missing skills and explain how you plan to fill those gaps through hiring or partnerships. Include all team members in the application.

Focus on directly addressing the criticisms in the ESR and highlighting the changes you've made. Evaluators often concentrate on the rebuttal and revised sections. Make sure to clearly explain how you've improved the proposal based on the previous feedback.

Show that your project is high-risk and high-reward, justifying the need for EIC support. Provide detailed workpackage descriptions to demonstrate a clear implementation plan. Present a balanced view of risks, with well-defined mitigation strategies.

You can address unfair or incorrect criticism in your resubmission. Provide a clear and concise response explaining why the initial assessment was flawed. New evaluators will review your rebuttal with a fresh perspective.

The EIC Accelerator has freezing periods that limit applicants to two rejections in Step 2. A single critical evaluation can lead to rejection, so it's important to carefully craft your proposal to avoid unnecessary scrutiny.

If a risk presented in Step 1 led to overly critical feedback without substantial reasoning, consider removing it when preparing your Step 2 documents. Sometimes, simplifying the risk profile can be beneficial.

This can happen to better align the project documents with the EIC Accelerator program's high-risk mandate, even after the funding decision has been made. It highlights a potential mismatch between the program's rules and the application incentives.

If you neglect to introduce financial, commercial, or technical risks, your project might be considered out of scope for the EIC Accelerator program. Evaluators may also criticize the application for neglecting obvious risks.

Aim to be just risky enough to pass Steps 1 and 2, demonstrating that your project aligns with the EIC Accelerator's high-risk mandate. However, avoid presenting so much risk that it hinders your chances of success in Step 3.

The Step 3 jury tends to be risk-averse, often making investment decisions that resemble traditional, lower-risk, high-reward scenarios. This means you need to be strategic about the level of risk presented in your application.

No, it's a balancing act. Presenting too many risks can lead evaluators to question your risk management capabilities. Focus on essential risks in commercial, financial, and technical areas, but be conservative in your presentation.

Focus on the essential risks related to the commercial, financial, and technical aspects of your project. These are the areas that evaluators will scrutinize most closely, so ensure you address them thoughtfully.

The EIC Accelerator targets high-risk projects. Your proposal needs to demonstrate that you understand the potential risks involved (technical, market, financial, regulatory). Failing to identify and address key risks can lead to a poor evaluation score and rejection.

The EIC Accelerator Challenges have largely remained the same compared to the draft work program. The main change is the inclusion of semiconductor technologies within the Challenge for quantum computing technologies.

The EIC offers three main funding programs: EIC Pathfinder, EIC Transition, and EIC Accelerator. Each program targets different stages of innovation, from early-stage research to scaling up businesses.

The EIC Accelerator provides blended financing, which includes both grant funding and equity investment. Companies can receive up to €2.5 million in grant funding and up to €15 million in equity financing.

Most EIC Accelerator Challenges have a budget of €65 million each. The Challenges for Energy Storage and Quantum or Semiconductor components each have a budget of €100 million.

This challenge seeks technological solutions that facilitate social interaction during pandemics. This includes full systems for aerosol capture and air circulation, next-generation face mask technologies, and rapid surface decontamination devices. Integrating pathogen profiling sensors for real-time information is also encouraged.

This challenge aims to support deep tech ventures that can deliver disruptive new products and services for a digitised construction value chain. The focus is on computational design, alternative materials, and digital fabrication to achieve climate neutrality and improve the quality of the built environment.

This challenge seeks interdisciplinary solutions for regenerative agriculture and soil health, including innovations in fertilization, crop protection, irrigation, and soil management. It also encourages radical innovations in precision fermentation, natural solutions for carbon management, and technologies adapted to harsh environments.

The EIC Accelerator offers up to €2.5 million in grant funding and up to €15 million in equity financing per project, totaling a potential €17.5 million. This blended financing approach is designed to support DeepTech startups and small mid-caps in finalizing product development, entering the market, and scaling globally.

The 'Energy storage' challenge targets innovations in energy storage technologies that offer low cost, high density, high charging/discharging efficiency, and enhanced durability. It encourages solutions for storing electric and/or thermal energy at various scales and durations, while minimizing carbon footprint and reliance on critical raw materials.

This challenge focuses on supporting innovative SMEs and small mid-caps in developing novel predictive, prognostic, and companion diagnostic assays to guide cancer treatment. The goal is to enable clinicians to better identify which patients will benefit from specific treatments, predict cancer development, and monitor disease progression.

This challenge aims to ensure Europe can service and protect its own space infrastructure and enhance the competitiveness of its space industry. It focuses on developing innovative space technologies, such as in-orbit inspection, collision avoidance, self-assembly of spacecraft, space debris collection, and innovative solutions for Earth observation and satellite communications.

If a Strategic Challenge doesn't attract a sufficient number of high-quality applications, the allocated budget will be transferred to other Strategic Challenges. In the event that all Strategic Challenges collectively lack enough suitable applications, the remaining budget will be reallocated to the EIC Accelerator Open.

This challenge aims to support the development of next-generation fault-tolerant quantum computers and quantum sensors that can function in real-world environments. The goal is to advance Europe's capabilities in quantum computing and sensing for applications in various fields, including medicine, materials science, and space.

With the outsourcing of the EIC Fund's management to the European Investment Bank (EIB) and Alter Domus, the EIC could become more risk-averse. This might lead to a preference for projects already in the market or with significant customer commitments, even though the EIC aims to fund DeepTech at earlier stages.

Technology Readiness Levels (TRLs) indicate the maturity of your technology, ranging from basic principles observed to actual system proven in an operational environment. The EIC uses TRLs to assess the readiness of your project for funding and market entry.

The official 2023 EIC Accelerator Work Programme is expected to be released by the European Innovation Council (EIC). While not official, a draft version is available via ScienceBusiness, along with other Horizon Europe documents.

Being invited to resubmit directly to an interview session significantly increases your chances. Also, if your company is women-led, it will be prioritized to promote gender balance. Finally, early submission of your proposal can give you an edge.

The specific deadlines for the 2023 EIC Accelerator have not yet been officially published. Keep an eye on the official EIC website for updates on cut-off dates.

The other articles in this series, covering topics like eligible applicants, equity investments, and evaluation criteria, will be linked within the article once they are published. Check back regularly for updates.

If the EIC faces budget or interview slot limitations, priority is given to companies invited to resubmit, women-led companies (aiming for up to 40%), and then based on the submission date and time of the short proposal.

The 'EIC Accelerator Open' refers to a funding track within the EIC Accelerator that is not tied to specific strategic challenges. It's a broader call for proposals across various DeepTech sectors.

The EIC Pathfinder Open supports early-stage research and development of breakthrough technologies. The first deadline for submitting a proposal in 2023 was March 7th at 17:00 Brussels local time.

The EIC Accelerator provides up to €2.5 million in grant funding and up to €15 million in equity financing per project, for a potential total of €17.5 million. This blended financing is designed to support DeepTech startups and small mid-caps in finalizing product development and scaling globally.