Frequently Asked Questions

The 'grant-first' approach refers to projects that initially receive grant funding and subsequently attract equity investments. The related article series will explore how these projects secure equity investments within the EIC framework.

Relocating your company headquarters or creating a legal entity in a Horizon Europe-associated country solely for the EIC Accelerator is risky. Given the low success rates, it's generally not advisable to make such a move before receiving any official approval from the European Commission (EC) and the EIC.

The EIC Accelerator primarily focuses on funding DeepTech innovations. These are groundbreaking innovations based on scientific discoveries or technological breakthroughs that require significant, long-term funding before generating returns.

The 2023 EIC Accelerator Work Programme is expected to bring changes to eligibility criteria, equity investment conditions, technology readiness level requirements, and evaluation criteria. This article series will delve into these aspects in detail.

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.

Yes, it's important to address all criticisms, even those accompanying a 'GO' grading. These criticisms can still raise doubts in the minds of future evaluators. Addressing them proactively demonstrates a thorough understanding of the feedback.

If your proposal received positive remarks, especially from an evaluator with insider knowledge (e.g., a customer or researcher in the field), highlight these in your rebuttal. Emphasize how this evaluator understood the project's impact, contrasting it with potentially misinformed comments from others.

Yes, if an evaluator made factual errors, misquoted information, or demonstrated a lack of understanding, it's appropriate to politely and objectively point this out in your rebuttal. Use clear and logical arguments to demonstrate the evaluator's mistake.

The rebuttal allows applicants to respond to the evaluation of a previously rejected proposal. It's a chance to explain what has changed in the current application and address any misunderstandings or inaccuracies in the initial evaluation. This section is prominently displayed for the new evaluators.

Definitely point this out in your rebuttal. Highlighting that the information was already present casts doubt on the evaluator's assessment and suggests they may not have thoroughly reviewed the application.

If your proposal received a low score, you'll likely need to make substantial changes to key sections of the application. This might involve reshaping the features, use cases, competitive analysis, value chain, market analysis, or work plan.

The jury is likely unfamiliar with your project's details and may not be experts in your technology or industry. They aren't investing their own money and must prioritize criteria like high-risk, DeepTech, and non-bankability. Pre-interview due diligence is limited, so your pitch is crucial.

The EIC Accelerator process is highly selective. With excellent projects reaching Step 3, the jury's task is to find the highest potential among them. Due to budget constraints, they often have to reject around 50% of the applicants, even if they are great businesses.

Unlike VC pitches, the EIC jury may lack specialized knowledge of your technology or industry. Also, jury members aren't investing their own money, which can influence the types of questions they ask. The EIC also prioritizes ambiguous criteria like non-bankability and high-risk, which most investors wouldn't prioritize.

Non-bankability refers to a company's perceived inability to secure financing from other public or private sources. The EIC uses this criterion to identify and support DeepTech companies that might be overlooked by traditional investors. In practice, it often means the EIC will invest unless someone else invests first.

If your company raises a substantial amount of funding (e.g., €20M) right before the Step 3 interview, it's likely to be rejected. The EIC prefers to allocate its budget to companies that haven't reached that level of funding yet. They aim to support companies that are truly non-bankable at the time of application.

The EIC Accelerator interview is the final step in the EIC Accelerator blended financing application process. It's a jury-based evaluation where SMEs and startups pitch their project. Success in the interview is crucial for securing funding, demonstrating the company's desire, confidence, and motivation to implement their project.

You should approach the interview with the mindset that you cannot give the jury any reason to reject you. Even if your project is excellent, failing to address potential negative perceptions can lead to rejection. Be prepared to address any concerns the jury might have.

The 'YES' or 'NO' grading system, without numeric scoring, means proposals likely won't be ranked. This implies that every 'YES' should be invited to Step 2, potentially leading to a bottleneck if too many applications receive a positive evaluation early on.

The EASME and EIC should clearly communicate if evaluation steps are repeated internally due to application volume. This transparency would help applicants understand the process and potentially adjust their strategy.

It's speculated that EASME will not use an internal ranking system. Without a ranking system, managing the volume of applications becomes challenging, potentially leading to stricter evaluation criteria as the deadline approaches.

If possible, consider choosing less competitive EIC Accelerator topics. This could potentially increase your chances of success, especially if the evaluation process becomes stricter due to high application volume.

The timing of your application might not be fixed, so consider postponing it to avoid potential 'freezing periods' or periods of increased competition. Applying early, however, is generally recommended to secure a spot in Step 2.

If the EIC and EASME receive too many 'YES' gradings in Step 1, they might increase the strictness of the 'YES/NO' evaluations dynamically. This could make it more difficult for later Step 1 applicants to succeed.

Clear communication from the EASME and the EIC regarding how thresholds are set and enforced is crucial. Real-time updates on 'YES' and 'NO' counts and thresholds would be beneficial for applicants.

If Step 2 receives an excess of applications for Step 3, the Step 2 evaluation process might be repeated with stricter criteria. This could lead to a less transparent evaluation method compared to previous years.

The evaluation of Step 2 applications typically takes 3-6 weeks after submission. However, the duration can vary depending on the timing of the Step 3 interviews.

The Step 2 application requires several annexes, including Letters of Intent (LOI), a Freedom to Operate Analysis (FTO), a Data Management Plan (DMP), a financial spreadsheet, a pitch deck, and a 10-page annex for visual information.

The EIC Accelerator doesn't grade videos on production quality, so a simple recording is sufficient. However, some minimal editing and quality are recommended, as the video may be viewed in later stages of the evaluation process.

Plan for at least 2 weeks of preparation for the jury interview. This should include practice calls and a detailed review of all proposal materials to ensure familiarity with the content.

While you may have existing data and text from other proposals, it's generally not advisable to use them directly. The EIC Accelerator has specific questions and space restrictions, so you'll likely need to rewrite and tailor the content to fit the application requirements.

The evaluation of the Step 1 proposal can vary, but generally, you should expect a duration of around 3 weeks. If you already have templates prepared, you can start working on your Step 2 application while waiting for the results.

LOIs are important and can take weeks or even months to obtain, as stakeholders are often busy. It's advisable to request LOIs as early as possible to increase your chances of receiving them before the Step 2 deadline.

Business plans provide a solid framework for your grant application. They offer insights into structuring your proposal, defining your market, and outlining your financial projections. Look for free business plan examples from consultancies, accelerators, or investment firms to enhance your grant writing skills.

Yes, many free resources are available online. Platforms like YouTube and Udemy offer tutorials for graphic design software such as Adobe Illustrator or Corel Draw. Dedicate time to learning basic design principles to create impactful visuals for your proposal.

EIC Accelerator applications are evaluated based on their potential impact and alignment with EU priorities. Demonstrating how your project addresses societal challenges and contributes to EU policy goals increases your chances of success. Research relevant EU initiatives and incorporate them into your narrative.

Prioritize studying business plans to build a strong foundation. Develop your storytelling skills to connect with evaluators. Use illustrations to enhance communication and engage readers. Finally, ensure the entire management team is actively involved in the process.

Illustrations help communicate complex ideas quickly and effectively. They capture the attention of evaluators who have limited time to review numerous applications. Use visuals to enhance your storytelling and make your proposal more engaging and memorable.

A strong business plan provides the essential structure and content needed for a compelling grant application. It outlines your business model, market analysis, competitive advantages, and financial projections. Use it as a roadmap to ensure your proposal is comprehensive and persuasive.

Active involvement from the CEO, CTO, and CFO significantly improves proposal quality. Their combined expertise ensures a comprehensive and well-aligned application. Avoid rushing or outsourcing the proposal entirely; prioritize team collaboration for a stronger outcome.

The SlideBean approach, which prioritizes storytelling and a leaner structure, is generally recommended. It helps to keep the jury engaged and prevents overwhelming them with too much information.

The EIC template includes slides such as Title, Company Purpose, Problem & Solution, Value Proposition, Market Opportunity & Risks, Competition, Business Model, Commercialisation & Marketing Strategy, Financial Projections, Team, and Conclusion. It's comprehensive but can be content-heavy.

The EIC template can lead to overcrowded slides with too much information. This can turn the pitch deck into a text-heavy document, potentially boring the jury and failing to convey a simple, inspiring idea.

SlideBean offers a list of successful pitch deck examples, including companies like Airbnb, Uber, and Facebook. These can be a valuable resource for structuring your own EIC Accelerator pitch deck.

While there isn't a strictly 'official' current template, a useful starting point is the EASME pitch deck template from October 2017. Keep in mind that this template is somewhat outdated, but it provides a general overview of how a pitch could be structured.

While not explicitly required in every slide with the SlideBean approach, you can add it to the last slide or address it during the Q&A session. The jury will likely ask about it anyway.

A captivating pitch is crucial. Even the best business can fail if the jury is bored. Entertainment value, a good storyline, eloquent speakers, and clear communication are paramount.

SlideBean recommends a leaner, more story-driven approach. Their template focuses on Problem, Solution, Product, Market Size, Business Model, Underlying Magic, Competition, Differentiators, Marketing, Team, and Traction & Milestones.

The EIC Accelerator has a strong support network of professional writers and expert consultancies. These professionals can assist with preparing a compelling application. Research and contact reputable writers and consultants experienced with EU grant applications.

The possibility of resubmitting an application depends on the specific funding call. Some programs have restrictions due to limited cut-off dates or impose freeze periods after a rejection. Check the program guidelines to understand the resubmission policy before applying.