Frequently Asked Questions

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.

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 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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

'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.

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 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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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 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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.