Frequently Asked Questions

The most important thing is to prioritize a clean and easy-to-read structure. Formatting should enhance the readability of your proposal, not detract from it. Keep it professional and focused on conveying your message effectively.

Provide every reference as a footnote at the bottom of the page, using superscript numbers after the sentence or comma. For blog or news articles, list the Title (Source). For scientific articles, follow a specific style guide (e.g., American Chemical Society) for citations.

Use indents to improve readability, especially for separating headers from paragraphs and for creating lists. However, be mindful of space. Only use indents when they are needed to loosen up the text or display shorter lists, as they can consume valuable space if lists span multiple pages.

Good formatting makes your proposal easier to read and understand. Evaluators will appreciate a clean, well-structured document, which can positively influence their overall impression of your application. Prioritize clarity over dense blocks of text or distracting formatting.

Use sub-sections to break down different aspects of your proposal. For example, in Section 2, you could use sub-sections like 'User Needs,' 'Unique Selling Points,' and 'Customer Interest' to clearly organize the information. Format the headers according to their hierarchy, with Header 1 being the most prominent.

Employ symbols like checkmarks, crosses, or numbered lists (1/2/3, i/ii/iii, etc.) to separate lists from the main text and provide a clearer structure. Colors can also highlight key aspects like competitive differentiators or market problems for intuitive assessment.

Yes, using different header styles (Header 1, Header 2, etc.) is recommended to create a clear hierarchy. Header 1 should be the most prominent, while subsequent headers should be less so. This helps evaluators quickly understand the structure of your proposal.

The EIC Accelerator offers two options: a pure grant and blended finance (grant + equity). While the application process is similar, the funding sources differ, leading to slightly different criteria for a successful proposal. The equity portion requires offering company shares in exchange for investment.

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

The EIC Accelerator equity financing is specifically for projects at Technology Readiness Level 9 (TRL9). This means your project should be focused on market deployment rather than technical development or research.

No, the application and reviewing process is the same for both the pure grant and blended finance options. However, the equity contribution requires more detailed information regarding ownership, valuation, and exit strategy.

If your grant request includes activities related to product deployment and marketing, it might be deemed ineligible for grant funding. In this case, the funding request may be transferred to the equity financing option instead.

A 'non-bankable' business, in this context, means that the company is considered high-risk and hasn't yet attracted interest from traditional investors or the market. This is a key characteristic for companies seeking equity financing through the EIC Accelerator.

Your proposal needs a clear exit strategy, outlining your plans for the company's future. The EU looks for ROI within 7-10 years, with a maximum of 15. Acceptable exit strategies include buyouts, IPOs, or liquidations.

The EIC Accelerator equity contribution targets high-risk companies with limited or no turnover and negative EBITDA. Profitable companies seeking scaling support are generally not the intended recipients of this equity financing.

You need to describe your company's valuation progression, including past data and future projections. Explain the reasoning behind your valuation estimates and how you expect it to change over time.

The EIC Accelerator guidelines suggest offering a minority ownership stake. This should be at least 10% and can be up to a maximum of 25% of your company.

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.

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.

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.

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.

Simply combining existing features is unlikely to qualify as innovation for the EIC Accelerator. The focus is on novel technology or a unique approach that creates a significant advantage. You need a defensible, innovative core.

While the EIC Accelerator often favors technological innovation, a truly disruptive business model *could* be considered if it's exceptionally unique and difficult to replicate. You'll need to strongly emphasize the innovative aspects of the model and its defensibility.

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.

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.

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.

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.

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 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.

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.

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.

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.

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 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.

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 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.

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.

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.

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' 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.

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.

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.

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.

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.

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.

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.

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.

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.