Frequently Asked Questions

Briefly explain why current problem-solving approaches are limited and ineffective. Highlight the lack of technological ingenuity and out-of-the-box thinking in existing solutions. This section acts as a segue to further enhance the impact of your innovation's introduction.

Connecting your innovation to EU policies, targets, and statistics strengthens your application, especially the Impact section. It demonstrates alignment with EU priorities, showing how your project contributes to broader European goals and addresses relevant challenges. Neglecting this connection is a common mistake in low-scoring applications.

This approach ensures all sub-sections of your proposal work well together and are connected. It creates a cohesive story that demonstrates the urgent need for EIC support. This ultimately increases your chances of securing funding.

Explain why the problem you're addressing is difficult to solve and why no company has been able to accomplish it yet. Outline the significant technological barriers involved, citing scientific reviews, case studies, or challenging industry concepts. The goal is to make finding a solution seem impossible until you introduce yours.

Yes, the narrative structure is applicable to the pitch deck as well. However, it should be presented in a more compact form. This ensures the jury understands the gravity of the problem quickly and efficiently during the interview process.

Focus on negative repercussions in the EU that your innovation can address. This could include costs (e.g., healthcare expenditures), deaths (e.g., car accidents), environmental impacts (e.g., emissions), or resource availability issues (e.g., overfishing). Emphasize how these problems will worsen without your solution.

The 'Narrative' contextualizes your technological innovation outside of your business model and differentiating features. It connects all sections of your proposal to create a cohesive story that highlights the urgent need for EIC support. It integrates your business plan with its European and global impact, emphasizing the benefits for the European Commission.

The EU regularly publishes updates on policies, statistics (e.g., Eurostat), regulations, and resources like Key Enabling Technologies (KET) and the Green Deal. Refer to these resources to strengthen your application and demonstrate alignment with EU priorities.

Editing your proposal with a connected narrative approach can help refine each section. This process can reveal accidentally omitted details, strengthening the overall storytelling and improving the proposal's clarity and impact.

Hiring a professional writer or consultant can be beneficial, as they are experienced in creating compelling narratives for grant applications. However, it's also possible to develop a strong proposal internally with the right guidance and resources.

The EIC Accelerator's popularity has increased significantly, especially in 2020, due to the coronavirus pandemic and extensive advertising within the EU. The sustainability-themed deadlines, including the EIC Accelerator Green Deal call, have also attracted many applicants.

The EIC Accelerator, formerly SME Instrument Phase 2, offers grant and equity financing to startups and SMEs. It supports the development of disruptive innovations, helping them move from prototype to commercial product. The program is funded by the European Commission and the European Innovation Council.

This blog post is Part 1 of a series. Part 2, which provides further guidance, can be found by following the link provided at the end of this article. Look for the continuation link to access more information.

No, the method described in the blog post is not the only way to approach an EIC Accelerator proposal. It's presented as a starting point and an additional resource to help applicants develop a well-written draft.

A strong narrative is crucial for a successful EIC Accelerator proposal. Aligning the proposal with a clear and logical story increases the chances of positive evaluation results and funding approval from the EU.

The official EIC Accelerator grant template is often considered simplified and sometimes cryptic, especially for first-time applicants. This can make crafting a successful proposal challenging, highlighting the need for guidance and a strong narrative.

The EIC Accelerator is specifically designed for startups and Small- and Medium-Sized Enterprises (SMEs) that are developing disruptive innovations. These companies should be seeking financial support to complete their R&D and bring their product to market.

The visual representation illustrates a simplified way to connect key aspects of your innovation with the industry or policy context. This helps provide a strong and logical rationale for why the EU should fund your project.

Consultants play a significant role in the EIC ecosystem, often more critical than the startups themselves. The EIC employs consultants as evaluators, jury members, ambassadors, business coaches, project managers, and more. This close relationship ensures consultants remain a key part of the EIC's operations.

AI's ability to ensure consistency is limited by its context window. It's difficult to produce a high-quality, 50-page proposal from a single prompt. However, AI can effectively handle fragments, ensuring each section is coherent and aligned with its specific instructions, leading to overall coherence.

To ensure sufficient detail, provide the AI with as much specific information as possible. Use placeholders in key sections for data like patent numbers and USP quantifiers. Consider using AI tools with web search capabilities to draw data from market reports and EU policies to enrich the proposal.

A high-quality proposal needs a strong project and company profile, sufficient detail with quantifiable data, alignment with EIC criteria and objectives, coherent and valuable writing, and internal consistency. Avoiding contradictions and ensuring all parts of the proposal support each other are crucial for a positive evaluation.

Surprisingly, the EIC does not require business coaches to have successfully written an EIC Accelerator proposal themselves. This has been criticized, as many believe that advisors should have experience successfully completing the process they are advising on.

While AI may reduce the need for consultants in research and writing, it's unlikely to replace them entirely. Consultants play various roles, including scouting promising companies for the EIC. The EIC also frequently employs consultants in roles like project management and evaluation.

AI can easily align your proposal with EIC criteria by drawing from its programming, which is based on expert knowledge. Provide restrictive instructions to the AI to avoid any red flags that could lead to rejection, such as incorrect Technology Readiness Levels or funding amounts.

AI can highlight the strengths of your project and company and be vague about the weaknesses, but it cannot fundamentally change the project itself. It's crucial to assess whether your company and project are a good fit for the EIC Accelerator before using AI to draft the proposal. AI can't make a poor project seem groundbreaking.

The amount of detail in your proposal significantly impacts the evaluation. Vague proposals are often criticized because evaluators need specific data to assess criteria like competitors, USP, and development goals. Providing quantifications and explicit details throughout your proposal is essential for maximum impact and a higher chance of success.

The EIC removed travel reimbursements to allocate funds to other areas, such as business coaches for Step 2 applicants. This decision has raised concerns about fairness, as it disproportionately affects applicants from widening countries who may struggle to afford travel to Brussels.

A Seal of Excellence, indicating a score of 13/15, means your project is high quality and meets the EIC's standards. While it doesn't guarantee funding, it now opens the door for potential investors to contact you if you consent to sharing your details.

Blended finance refers to the EIC's approach of combining grant funding with equity investments. This allows for larger funding rounds and opens the door for private investors, including non-EU parties, to participate in financing innovative startups.

Given the high competition, focus on crafting a compelling proposal that clearly demonstrates the innovation, market potential, and impact of your project. Also, consider consenting to the publication of your contact details to attract potential investors if you receive a Seal of Excellence.

The blog post suggests that the Green Deal deadline (originally May 19th) could potentially be postponed to May 26th due to the postponement of the March 2020 interviews. It's crucial to monitor the official EIC website for any updates.

Submitting to the wrong call, specifically the regular EIC Accelerator page instead of the Green Deal call page, will result in your proposal being considered for the October deadline instead of the May deadline. Double-check the call page before submitting.

Due to the COVID-19 pandemic, the EIC Accelerator interviews for the March 2020 deadline were held remotely via video calls. This is likely to continue for the rest of 2020, so expect your interview to be virtual.

The correct call page for the Green Deal submission is located at the link provided in the blog post. Using the regular EIC Accelerator page will result in your proposal being registered for the October deadline instead of the May deadline.

The EIC Accelerator is highly competitive. While a significant percentage of applicants reach the funding threshold, only a small fraction (3-5%) ultimately receive financial support. This highlights the importance of a strong proposal and potentially leveraging the new investor contact option.

The blog post mentions an update on April 3rd, but doesn't directly link to the template. You should check the official EIC Accelerator website or participant portal for the most up-to-date version of the proposal template.

The updated EIC Accelerator template allows applicants who receive a Seal of Excellence (score of 13/15) to consent to having their contact details shared with potential investors by the European Commission. This aims to connect promising startups with funding opportunities beyond the standard grant.

Phase 1 funding is fixed at €50,000 for a feasibility study. Phase 2 offers significantly more funding, potentially reaching €2,500,000 or even higher in certain circumstances, to support development and innovation.

Work packages are crucial for Phase 2. You'll need a detailed cost structure and plan for the next two years, specifying who does what, the costs involved, and the expected deliverables. Allocate a significant portion of your proposal (7-15 pages) to this section.

Yes, Phase 2 proposals include sections not found in Phase 1, such as "Communication and access to research data." Make sure to address these specific requirements when preparing your Phase 2 application.

The core proposal (sections 1-3) for Phase 1 is limited to 10 pages, while a Phase 2 proposal allows for a much more detailed 30-page document. This extra space lets you elaborate on your project and strategy.

No, a fixed business plan isn't required for Phase 1, as it focuses on feasibility. However, Phase 2 demands a very detailed cost structure and plan for the next two years of development, so start planning early.

A lack of a detailed cost structure will significantly weaken your Phase 2 proposal. The evaluators need to see a clear and realistic plan for how the funding will be used over the next two years, so thorough planning is essential.

Aim for approximately 7 to 15 pages dedicated to work packages in your Phase 2 proposal. This allows you to adequately detail each task, its associated costs, and the expected deliverables.

Focus on providing in-depth information in each section, addressing unique Phase 2 requirements like communication and data access, and creating a comprehensive work package plan with a detailed cost structure.

The cost structure in your Phase 2 proposal needs to be very detailed. You must specify who will perform each task, the associated costs, and the expected deliverables for the next two years of development.

Yes, with Phase 2 applications still open, it's worth considering a direct application. Just be sure to address all the specific requirements and differences compared to Phase 1, especially regarding work packages and budget details.

High-risk projects, especially those requiring substantial funding at low TRLs, may face challenges due to the €2.5M grant limit for grant-first applications. This can make it difficult to finance capital-intensive projects, such as those in artificial organs or new cancer treatments, that require long and expensive clinical trials.

Grant-first financing is designed for very risky projects that need to achieve specific milestones before receiving equity investments. It's intended for projects where the commercial potential is uncertain but groundbreaking. The grant-first project is expected to reach TRL8 and be accompanied by a milestone that allows the applicant to become eligible for equity investments by the EIC Fund.