Frequently Asked Questions

To qualify as an SME, your company must have a staff headcount below 250, an annual turnover of €50 million or less, and a balance sheet total of €43 million or less. Meeting these criteria is essential for EIC Accelerator eligibility.

No, the EIC Accelerator is specifically for for-profit businesses. The program aims to support companies looking to scale their operations on a European or global level, so non-profits are not eligible.

The first step is to register your company on the EU's Funding and Tenders Portal. This will give you a Participant Identification Code (PIC) which is necessary for applying for grants and other support options on the platform.

Blended financing combines grant funding with equity investment. While many countries are eligible for both, some, like the UK in 2020, were only eligible for grant support. Check the specific program guidelines for your country's eligibility.

Yes, the UK is eligible for grant support but not blended financing for the remainder of 2020. Check the latest program guidelines for updated information on UK eligibility after 2020.

Yes, you need to declare any up- or down-stream relationships with other entities like subsidiaries, shareholders, or parent companies. The declaration threshold is 50% for natural persons and 25% for legal persons (companies).

The EIC Accelerator seeks companies with a strong innovation component and the potential for disruptive impact. These businesses typically have strong IP protection, often categorized as DeepTech companies, and are focused on scaling their operations.

Yes, companies from certain non-EU countries can apply. Specifically, selected countries associated with the Horizon 2020 program are eligible, including countries like Iceland, Norway, Albania, and others listed in the blog post.

Yes, pay close attention to the official evaluation criteria. Even if some criteria, like gender equality, don't directly relate to your business model, you must address them convincingly in your proposal. Consider the reviewer's perspective and preempt any potential concerns.

Don't be discouraged! Use the feedback from the reviewers to improve your application. Dedicate time to refine your proposal, addressing any weaknesses identified. Persistence and continuous improvement are key to increasing your chances of success in future applications.

The initial reviewing process (steps 1 and 2) is the same for both grant and blended finance applications. However, the management of the funding differs. Grants are managed by the European Commission, while equity is managed by EIC governing bodies with support from the European Investment Bank Group.

The grant is paid as 70% of the total eligible project costs. This means you need to demonstrate how you will cover the remaining 30% through co-financing. Be prepared to explain your co-financing strategy in your application.

You can request up to €17.5 million for a single project, potentially more with justification. This can be a combination of a maximum €2.5 million non-refundable grant and up to €15 million in equity investment from the EIC Fund. Remember, you must offer company ownership in exchange for the equity.

Blended finance is a combination of a non-refundable grant and an equity investment. The grant portion helps cover immediate project costs, while the equity investment provides longer-term capital in exchange for a share of your company's ownership. It's a way to access both grant and equity funding through a single application.

Equity financing is targeted at high-risk projects that may not yet be attractive to the market. Companies with low or limited turnover and negative EBITDA are often considered good candidates for equity financing through the EIC Accelerator.

The European Commission may offer a counteroffer if they believe your project budget doesn't align with their assessment. Be prepared to justify your budget thoroughly and consider that the final funding amount may differ from your initial request.

No, you cannot apply for equity-only financing. You can apply for a pure grant or blended finance, which is a combination of grant and equity. Equity financing always requires a grant component in the EIC Accelerator program.

Success rates are typically low, between 2% and 5%. However, with a well-written application and persistence in improving it after feedback, you can increase your chances significantly, potentially to 30% or higher. Focus on addressing all evaluation criteria and understanding the reviewer's perspective to maximize your success.

While the increased budget means more projects can be funded, the competition remains fierce. Focus on a strong application that clearly demonstrates innovation and impact.

The original total budget for the EIC Accelerator in 2020 was €819,04m. This has now been increased to €969,04m due to the COVID-19 pandemic and high application volume.

Yes, the EU is encouraging applicants to present COVID-19 related innovations. Projects addressing the pandemic's challenges are likely to be prioritized during the evaluation process.

You can find official news about the EIC Accelerator budget increase on the europa.eu News website. This is the official source for announcements from the European Commission.

Unfortunately, no. The EIC has decided not to postpone the May deadline, which means applicants rejected after the March interviews are unable to re-apply for the Green Deal cut-off.

No, the budget for the October cut-off remains unchanged at €164,74m. The budget increase was specifically targeted at the March and May cut-offs.

32% of the total 2020 budget (€310,09m) is now dedicated to the March cut-off. This significant allocation reflects the high volume of applications received during that period.

No, the EIC Accelerator interviews will be held remotely for a total of 10 days, from May 11th to May 20th. This decision was likely made due to the ongoing COVID-19 situation.

The Green Deal cut-off in May has a budget of €300,40m, representing 31% of the total 2020 budget. This shows the importance of green initiatives within the EIC Accelerator program.

The EIC Accelerator budget was increased by €150m due to a record number of applications received in the March 20th cut-off and the EU's focus on COVID-19 related innovations. This increase aims to support more innovative projects in the face of the pandemic.

The interview week for the March deadline has been postponed, causing an overlap with the May Green Deal deadline. Interview results won't be available in time for applicants to reapply for the May cut-off, putting them at a disadvantage compared to those rejected in step 1.

There is a possibility the EU might postpone the May deadline, similar to what happened with the March call due to the COVID-19 outbreak. Keep an eye on official announcements from the European Innovation Council (EIC) for any updates.

Yes, the interviews are expected to be held remotely via video calls due to the ongoing COVID-19 pandemic. This format is intended to ensure the safety of both applicants and evaluators.

The March 2020 EIC Accelerator deadline saw a record number of applications, with almost 3,968 submissions. This is significantly higher than the regular ~1,900 applications typically received, making it a highly competitive round.

The announcement regarding the overlap between the March interview schedule and the May deadline was made by the European Innovation Council (EIC) on Twitter. It's best to follow their official channels for the most up-to-date information.

The Green Deal deadline for the EIC Accelerator is on May 19th. This deadline is specifically for projects that contribute to the European Green Deal objectives.

If your proposal is rejected after the interview (step 2), you will have to wait until the October deadline to reapply. This is a 5-month wait, unlike those rejected in step 1 who have time to revise and resubmit for the May deadline.

The interview week is scheduled for 10 days instead of the usual 5, likely due to a significantly larger number of applicants being invited for interviews. This suggests a highly competitive March call with potentially very low success rates.

Due to the high volume of applications, it is expected that the success rates for the March EIC Accelerator call will be below 1% or close to it. This highlights the intense competition for funding.

Applicants invited to step 2 (the interview) are at a disadvantage because they won't receive their evaluation results in time to reapply for the May cut-off if rejected. They must wait until October, unlike those rejected in step 1.

Yes, you now need to select Green Deal goals via checkboxes in the application forms. This helps identify if your project addresses any of the EU's existing Green Deal targets.

Yes, the Equity Table in the 'Financing Needs' section is now mandatory for all applicants. Previously, it was only required if you were requesting blended finance, but now everyone must complete it.

Each updated EIC Accelerator template contains a list of changes at the beginning of the document. This list makes it easier to identify and implement the new requirements for your application.

Yes, even if you're resubmitting an application, it's crucial to review the updated template. Changes may affect your proposal, so ensure it aligns with the new requirements.

The 'Green Deal' impact criterion was specifically added for the May 2020 cut-off. However, the other changes, like the CEO gender and Green Deal goal selection, will likely remain for future deadlines.

The application now requires you to provide the gender of the CEO. This is due to the EIC Accelerator's new rule to have a 25% quota for female CEOs.

A new criterion called 'Green Deal (May 2020 cut-off only)' has been added to the Impact section. You need to detail and quantify your project's impact on the EU's Green Deal, providing explanations and references.

The new proposal template for the EIC Accelerator Green Deal deadline was released on March 20th, 2020. This template includes several important changes that applicants need to be aware of to ensure their proposals are compliant.

Since the Equity Table is now mandatory, failing to complete it could negatively impact your application. Make sure to fill it out accurately and completely, even if you are not requesting equity financing.

The 'Call Specific Questions' section is found within the application forms. This is where you'll find the new requirement to provide the CEO's gender and select Green Deal goals.

The EIC Fund closely examines the capital structure of companies during due diligence. If the exit strategy appears complex or impossible, the Fund is unlikely to invest. Ensure your company's structure is clear and facilitates potential exits.

No, the pitch deck you prepare for Step 1 will not be used during the Step 3 interview. It seems each step requires tailored materials, so focus on the specific requirements for each stage.