Frequently Asked Questions

The EIC Accelerator is a European Commission funding program for innovative DeepTech startups and SMEs. It provides grant and/or equity financing to help companies develop and scale up their technologies. To be eligible, companies generally need to be from EU or associated countries and have a technology at TRL 5 or higher.

Your application will be evaluated by experts who provide feedback. For Step 1 and Step 2, evaluators will give a GO or NO GO rating and detailed feedback. If you pass all three steps, you'll begin the Grant Agreement Contract (GAC) preparation and undergo a due diligence process.

The EIC Accelerator is highly competitive. Historically, Step 1 has around a 67% pass rate, Step 2 around 22%, and Step 3 around 32.5%. This results in an overall success rate of approximately 4.8%. Keep in mind that these are estimations based on past data.

The EIC Accelerator application process has three steps. Step 1 involves a short application with a pitch deck and video. Step 2 requires a detailed business plan and supporting documents. Step 3 is an interview with an EIC Jury. You must pass each step to move on to the next.

Ideal EIC Accelerator candidates typically have excellent DeepTech, a strong team, and a scalable business model. Alignment with EU interests is also crucial. If your company meets these criteria, the EIC Accelerator is worth considering, but remember that the evaluation process has some inherent randomness.

The EIC Accelerator offers different funding options, including grant-only (up to TRL8), equity-only (up to TRL9), and blended finance (grant and equity to TRL9). The grant funding can be up to €2.5 million, while equity investments can reach up to €10 million. The best option depends on your project's needs and stage of development.

The EIC Accelerator has a 'three strikes, you're out' rule. If you fail three times at either Step 1 or Step 2 with the same application, you'll be blocked from resubmitting it until the end of Horizon Europe in 2027. There are specific rules for Step 3 resubmissions, so check the guidelines carefully.

The EIC Accelerator application timeline varies, but expect 2-4 weeks for Step 1 preparation, 50-70 days for Step 2, and a few weeks between Step 2 results and the Step 3 interview. A fast process could take around 6 months, but rejections and resubmissions can extend it significantly.

Eligible funding bodies include the EIC Pathfinder and Transition projects, Knowledge and Innovation Communities (KICs) supported by EIT, Eureka secretariat for SMEs supported under Eurostars-2, and companies supported by the WomenTech.EU programme.

A more useful scheme would allow direct application to the Step 3 interviews, especially if the plug-in scheme includes additional due diligence specifically for the EIC Accelerator. This would significantly reduce the burden of the application process.

The EIC Ecosystem aims to create a platform connecting DeepTech companies with investors, consultants, coaches, and other relevant stakeholders. This platform will help applicants find support and access services, potentially through a subscription-based model.

The Fast Track scheme allows companies funded under specific EU grant or equity projects to apply to the EIC Accelerator without completing the initial Step 1 application. This aims to streamline the application process for already vetted projects.

EIC BAS (Business Acceleration Services) are services provided by Ecosystem Partners, including investors, mentors, innovation agencies, and more. These services offer access to incubation and acceleration programs, as well as services designed in collaboration with the EIC.

The EIC Accelerator provides up to €2.5 million in grant and €15 million in equity financing for DeepTech startups and small mid-caps. It helps them finalize product development, enter the market, and scale globally. Blended financing options (grant and equity) are also available.

Step 2 of the EIC Accelerator application involves submitting a full proposal, which is a detailed business plan. This step requires significant effort and builds upon the information initially presented in Step 1.

While seemingly beneficial, the Fast Track and Plug-in schemes offer limited practical advantage. Skipping Step 1 doesn't significantly reduce the overall effort, as the content is still needed for Step 2. Preparing a Step 1 proposal is generally recommended.

Both the Fast Track and Plug-in schemes allow applicants to skip Step 1 of the EIC Accelerator application process. This step involves submitting a short application including a pitch deck, video, and written proposal.

The Plug-in scheme allows projects supported by certified national or regional programs to be reviewed for their innovation and market potential. If deemed suitable, these projects can be considered for EIC Accelerator support without a direct application to the call.

The Q&A session is extremely important, often determining the success of your application. It can last up to 35 minutes after the initial 10-minute pitch. Thorough preparation and practice are essential to effectively address the jury's questions and concerns.

Assign each team member a primary topic (e.g., CEO for business model, CTO for technical questions, CFO for financials). Practice question allocation in every mock session to avoid one person dominating the answers. Ensure team members are comfortable jumping in and answering questions as a unit.

It's crucial. Even if consultants or writers helped with the application, all three interviewees should be intimately familiar with all aspects of the proposal. The CFO should know the financials, the CTO the technical details, and so on, ensuring comprehensive coverage.

If you can't find someone internally, consider hiring an external pitch coach. Alternatively, existing consultants or internal team members can play the role by pretending they don't know the answers and asking the worst possible questions, focusing on weaknesses and potential criticisms.

Introduce interruptions during your mock Q&A sessions. Have the mock jury member cut off answers with follow-up questions after only 10-20 seconds, especially when the answer is confusing, slow, or irrelevant. This helps simulate the pressure of the real interview and forces you to be succinct.

Practice these scenarios diligently. If a question is financial but relates to technical development costs, the CFO and CTO should coordinate. Sitting in the same room (for video calls) can facilitate seamless question transfer and well-timed responses.

Distribute all proposal documents to ensure at least one person knows the relevant information. All three interviewees must also know the EU's and the EC's rules. This prevents displaying red flags related to bankability, strategic challenges, or risk levels.

The mock jury should actively try to entrap the interviewees and corner them in areas where they are unprepared or uncomfortable. This involves asking progressively more difficult follow-up questions to expose weaknesses and potential vulnerabilities in the project.

Make interruptions a habit during practice. This forces everyone involved to self-correct and polish their answers on the fly. Avoid brainstorming or discussing answers with colleagues during the mock session; aim for sharp, immediate responses.

Remember to be aware of EIC rules and agendas, avoid giving the jury any reason to reject you (red flags), and don't get bogged down on topics that don't benefit your application. Focus on presenting your project in the best possible light while addressing potential concerns.

Introduce technical slides with a question like "So, how do we accomplish this?" to re-engage the audience. Compare your approach to conventional methods to highlight the innovation's value. Simplify graphics as much as possible without omitting key details.

You can have more than the traditional 10 slides. Consider using a mix of complex slides (1 minute each) and shorter, visually-driven slides (10-30 seconds each) to tell an engaging story. A 20-slide deck is achievable with varied slide durations.

No, you cannot change your pitch deck after submitting it in Step 2. You must use the exact same deck during the interview, even if the information is outdated. Therefore, your spoken pitch needs to work around any limitations of the deck.

While prior pitching experience is valuable, it's often not sufficient for the EIC Accelerator. The jury has specific expectations, so dedicated preparation and practice are highly recommended to increase your chances of success.

The EIC Accelerator interview is a mandatory, in-person presentation of your innovation project to a jury of experts. It's a crucial step in securing blended financing (grant and equity) and has a significantly higher success rate than earlier stages, making thorough preparation essential.

While not all are required, consider including slides covering the problem, solution, products, innovation, patents, customers, business model, market, team, financials, and funding needs. Ensure your spoken script covers all these areas for a well-rounded pitch.

Use a mix of approaches: single eye-catching sentences, impactful images or graphics, and simplified explanations of complex concepts. For detailed information like market analysis or financials, allow more time on those slides to build confidence.

Yes, it's highly recommended to prepare a word-for-word script and practice it thoroughly. This will help you deliver a well-paced and natural presentation, even if you deviate from the script during the actual pitch.

The most critical rule is to stay within the 10-minute time limit. The EIC and EC strictly enforce this, so practice your pitch until you can deliver it confidently within the allotted time.

The interview consists of a 10-minute pitch by your team, followed by a 35-minute Q&A session. Your team should be well-balanced and consist of senior members. Focus on making your pitch engaging and easy to understand.

Instead of relying solely on full-time employees, consider using freelancers and contractors who can be scaled up or down as needed. Opt for short-term rentals with favorable cancellation terms instead of long-term property acquisitions or leases.

High payrolls can be difficult to reduce quickly due to legal obligations and employee considerations. This can create a significant financial burden if revenue is delayed or funding falls through, making it harder to adapt to changing circumstances.

An emergency strategy outlines the steps a startup will take if funds run out unexpectedly. This includes identifying areas for immediate cost reduction and having a plan to minimize expenses and extend the runway until new funding is secured.

Runway refers to the amount of time a startup can continue operating before it runs out of money, based on its current burn rate. Knowing your runway is essential for planning future fundraising efforts and making strategic adjustments to extend your operational lifespan.

While the EIC Accelerator isn't necessarily looking for well-funded companies, consistent money problems can raise red flags. It may suggest underlying issues with the business model or management, potentially impacting the chances of securing funding.

Getting lean or hibernating means reducing monthly costs to a minimum to extend the runway. This involves cutting non-essential expenses, potentially reducing staff, and focusing on core activities to survive a period of financial uncertainty.

Startups should carefully evaluate how many employees are truly needed, maintain tight financial planning, and create a 'doomsday runway' buffer. They should also consider when the company can start using profits to independently fund development costs.

Relying heavily on incoming financing without a buffer can be disastrous if there are delays. A pulled term sheet, cancelled grant, or bankrupt customer can quickly deplete resources. Startups should prioritize risk management and have contingency plans.

Effective cash flow management prevents liquidity issues, ensuring a startup can meet its short-term obligations. Startups need to carefully track incoming and outgoing payments to avoid running out of cash, even if they have a seemingly healthy runway.

Burn rate is the amount of money a startup spends each month. It's crucial because it directly impacts how long a company can operate with its current funding. Monitoring burn rate helps startups understand their financial health and make informed decisions about spending and fundraising.

The EIC Accelerator program, funded by the European Innovation Council, provides grant and equity funding to startups and SMEs. It's designed for companies with highly innovative solutions that have the potential to scale up significantly. Funding can reach up to €17.5 million per project.

Not necessarily. If the technical description is well-structured and written, evaluators may accept it at face value and give a positive review, even if they don't fully grasp the complexities. However, a simplistic or incomplete technical description will likely be viewed negatively.