Frequently Asked Questions

While a patent can strengthen your application, it's not strictly required. Your technology must be difficult to copy, whether patented or not. Focus on demonstrating the uniqueness and defensibility of your approach.

Addressing customer needs is crucial. Your application must clearly demonstrate how your innovation directly relates to and solves a significant problem for your target customers. This connection validates the market potential of your project.

No, that's not sufficient for the EIC Accelerator. You need to demonstrate a truly unique approach, not just incremental improvements over existing solutions. Focus on the core innovation that differentiates you.

Clearly articulate your unique value proposition and the specific expertise or technology that enables you to address the problem in a way that competitors cannot. Highlight any proprietary knowledge, exclusive partnerships, or other factors that create a significant barrier to entry.

Focus on the unique technology or approach behind your product or service. Explain why it's difficult to copy and not just an extension of existing products. Clearly articulate the problem you're solving and how your unique value proposition addresses it in a way no one else can.

A successful proposal presents a clear problem statement, a unique and defensible innovation, a strong connection to customer needs, a viable market strategy, and a compelling narrative that demonstrates why your company is best positioned to succeed. Focus on demonstrating true innovation, not just features.

The most crucial aspect is demonstrating the innovative nature of your project. It needs to be more than just a collection of features; it must be based on a unique technology or approach that sets you apart from the competition. Highlight how your innovation solves a significant problem.

Your narrative should clearly introduce a major problem, explain how your product or service uniquely solves it, and outline your strategy for overcoming market barriers. Emphasize how your innovation directly meets customer needs.

It is crucial to explicitly state why your project requires EU support. Clearly articulate how the EIC Accelerator funding will enable you to achieve your goals and why alternative funding sources are not sufficient or appropriate for your specific needs.

The Phase 2 application template has been updated to include more detailed financial information, a list of Key Performance Indicators (KPIs), a clear justification for needing EU support, and specific summaries in the proposal introduction.

Yes, all changes to the EIC Accelerator, including those mentioned for Phase 2 and the pitch deck, apply to both new submissions and resubmissions. Make sure to update your proposal accordingly.

The shift to blended finance and the removal of Phase 1 likely aims to provide more substantial and impactful support to selected startups, focusing on those with high-growth potential and a clear need for both grant and equity funding.

Blended finance refers to the combination of grant funding and equity investment offered in Phase 2 of the EIC Accelerator. This approach aims to provide more substantial support to startups, covering both grant-based activities and equity for scaling up.

The new Phase 2 application template should be available on the official EIC website or the Funding & Tenders Portal. Look for the most recent version to ensure you're using the correct format.

No, the pitch deck that you upload with your application cannot be modified later on. Ensure your pitch deck is complete and polished before submitting it, as it will be used during presentations and interviews.

The updated template requires more detailed financial information, which likely includes projections, revenue models, burn rates, and other key financial metrics. Be prepared to provide a comprehensive overview of your company's financial health and future plans.

No, the executive summary has been replaced with specific summaries that need to be included in the proposal introduction itself. Make sure you follow the updated template closely to avoid any issues.

The most significant change was the removal of Phase 1 funding (€50,000 grant) and the introduction of blended financing in Phase 2. This means Phase 2 now offers a combination of grant funding and equity investment, up to a total of €17,500,000.

For a detailed look at the types of slides to choose and information on pitch interviews, refer to other resources specifically focused on pitch deck creation and pitch success strategies.

Unlike typical pitch decks that rely on bullet points and keywords, the read deck should use full sentences to comprehensively explain all concepts. Provide detailed written explanations since you won't have the opportunity to verbally elaborate.

The read deck is crucial because it's the first impression evaluators have of your project. It needs to be clear, concise, and comprehensive enough to stand on its own without a verbal presentation.

Yes, graphics are crucial in the read deck. Use comprehensive illustrations that can convey complex ideas since the evaluator can take their time to understand them. Aim for a balance between easy-to-digest and enough-to-understand visuals.

While technically such applications would have to be evaluated, it's expected that stricter rules will be enforced in the future to prevent applicants from using extremely small fonts or crammed content to fit more information.

The 'read deck' is a new type of pitch deck specifically for Step 1 of the EIC Accelerator evaluation process. It's a PDF document that evaluators use as a reference, but it's not used during the Step 3 interviews. Think of it as a 'read-only' version of your pitch.

Yes, the read deck must be a PDF, have a 10-page limit, and be below 10 MB in size. While there are no other technical restrictions, applicants should avoid exploiting this freedom with extremely small fonts or crammed content.

The read deck has a strict 10-page limit, unlike the Step 3 pitch deck. Also, the read deck needs to stand alone and be comprehensive since there's no verbal presentation or Q&A to support it.

To maximize the use of your 10 pages, omit the title and ending slides. These slides typically contain introductory or concluding information that the evaluators already know.

If a product presentation is critical, condense it into a single slide. Use the pitch video to showcase multiple angles or images of the product in a comprehensive and visual way.

The Step 3 interviews for proposals submitted to the October 2021 deadline are planned for either December 2021 or January 2022. This allows ample time for evaluation after the submission deadline.

The Step 3 interviews for proposals submitted to the June 2021 deadline are planned for September 2021. This represents a delay compared to the initial schedule.

Yes, in-person coaching support is offered on a first-come-first-serve basis in June 2021. However, coaching will be available for all applicants preparing for the October 2021 deadline.

Applicants received detailed feedback and a GO/NO GO scoring from 4 to 6 evaluators for each project. This feedback provides elaborate information on the strengths and weaknesses of their submission, helping them understand the evaluation process.

The EIC aimed to reject around 70% of applicants in Step 1, similar to the 2020 Seal of Excellence threshold. However, it appears the rejection rate was closer to less than 50%, making it slightly easier to pass than initially anticipated.

Yes, the official template for Step 2 is already available. However, the AI Platform for submitting Step 2 applications was not immediately ready at the time of the Step 1 results release.

The Step 2 AI Tool's Ideation and Development modules became available on May 17th, 2021. The Go2Market module followed shortly after, becoming available on May 21st, 2021.

The coach selection module became available on May 25th, 2021. This allows applicants to choose a coach to support them in preparing their Step 2 application.

The EIC Accelerator Step 1 results were released on May 12th, 2021, for those who applied by mid-April 2021. Applicants can find detailed feedback and scoring on the EIC's AI Platform. An email notification with an official letter was sent out a couple of days later.

The Step 3 interviews are delayed to approximately 3 months after the Step 2 deadline. This is a longer timeframe than initially expected, providing more time for the EIC to review applications thoroughly.

The EIC Accelerator primarily funds projects between TRL 5 and TRL 8 through grants or blended finance (grant and equity). TRL 9 activities can only be financed through equity. Pure equity funding is not available; it must be blended finance if you seek equity.

Further details on the funding distribution (grant, equity, blended, co-financing) can be found in the linked article about Grant vs. Blended Finance. This resource provides a more in-depth explanation of each funding type and its suitability for different projects.

No, the EIC Accelerator does not offer pure equity funding. If you require equity, you must apply for blended finance, which combines a grant with equity investment. Pure grants are also an option for projects not seeking equity.

Inaccuracies or omissions regarding TRLs can negatively impact your proposal evaluation. It can make your application appear less professional and raise doubts about the accuracy and coherence of other sections, such as the financials and financing needs.

While the Work Programme states a minimum TRL of 5, the Evaluation Criteria currently suggest a minimum of TRL 6. It's generally assumed that TRL 5 will be the accepted minimum in future iterations of the EIC Accelerator program.

If you need equity financing for TRL 9 activities, you must request blended finance. A separate work package specifically for pure equity should be included when requesting blended finance. If no equity is requested, the financing of TRL 9 activities must be explained separately.

Blended finance refers to a combination of a grant and equity financing offered by the EIC Accelerator. This allows companies to receive both non-dilutive funding (the grant) and investment (the equity) to support their innovation and growth.

Refer to TRLs when discussing your project's development stages, especially when describing market introduction conditions, past financing rounds, post-project financing, and work package deliverables. This helps demonstrate a clear understanding of your project's progress and maturity.

Clearly defining your project's TRLs is crucial because they must be detailed in your application's technology description. They also need to be referenced in sections about work packages, investment needs, and the project roadmap to demonstrate the project's maturity and feasibility.

Startups that have already reached TRL 9 are generally ineligible for grant or blended finance through the EIC Accelerator. The program focuses on supporting innovations from TRL 5 to TRL 8, helping them reach market readiness.

While revenue is ideal, it's not always mandatory. Focus on demonstrating strong customer interest through pilot studies, letters of intent, or documented customer interactions to prove market traction.

A great idea is a good starting point, but you also need to demonstrate traction. This means showing that there's a real market need and that customers are interested in your solution.