Frequently Asked Questions

The EIC Accelerator program provides funding, including grants and equity, to DeepTech startups and small mid-caps. It aims to help these companies finalize product development, enter the market, and scale globally. The program can award up to €2.5 million in grant funding and €15 million in equity financing per project.

Yes, the grant component can be higher than EUR 2.5 million in exceptional and well-justified cases. The innovation activities supported should normally be completed within 24 months but may be longer in well-justified cases.

Yes, grant-first projects are primarily limited to the grant component, typically up to €2.5M, to reach TRL8. Blended finance projects, on the other hand, can supplement financing TRL5 to TRL8 with equity investments, allowing for a significantly larger budget to reach TRL8.

Grant-first projects don't need to re-apply to access equity. Instead, the EIC conducts a formal assessment to determine if innovation activities are progressing well and have commercial potential. A positive assessment leads to due diligence by the European Investment Bank (EIB) and potential equity investment negotiations.

The EIC Accelerator offers various financing modes, including grant-first, grant-only, equity-only, and blended financing. These options cater to different project needs and Technology Readiness Levels (TRL). Understanding these options is crucial for applicants to choose the most suitable path for their project.

The expected outcome of a grant-first project is to reach Technology Readiness Level (TRL) 8. This means the technology should be demonstrated in its final form and ready for full commercialization after further investment and scaling.

If the milestone assessment is positive, you will be required to demonstrate sufficient financial means to finance remaining innovation activities. Alternatively, you will be invited to enter due diligence and negotiations to receive an EIC equity investment, potentially complementing other third-party investments.

Carefully consider what follow-up questions your answer might provoke. Mention aspects you want to be asked about and steer clear of topics you'd rather avoid. Conclude your sentences in a way that naturally leads to the follow-up questions you're prepared to answer.

Be mindful of your body language and avoid dismissive or combative behaviors. Even if you can't completely change long-standing habits, consciously avoid negative body language during the interview. Remember to show enthusiasm and genuine interest in explaining your project to the jury.

Even though the EIC jury is highly competent, prepare for questions that might seem unimportant or irrelevant to your startup. These could range from safety concerns to team diversity. Practicing answers to these unexpected questions can prevent you from being caught off-guard during the interview.

While it's important to have a balanced view of your competitors, avoid overly focusing on them during the interview. The jury's primary concern isn't about your competitors' strengths, but rather your ability to overcome competitive threats. Always steer the conversation back to the benefits of your project and why you're better positioned for success.

'Zooming out' involves shifting the focus from specific details to the bigger picture, like your vision or long-term goals. While not a default response, it can be useful if the jury questions your ambition or ability to see the project through. It can also serve as a last resort if you're caught off-guard by a difficult question.

Instead of just answering the question on the surface, consider the underlying concern that prompted it. Ask yourself, "What concern does the jury member have to ask this question?" and address that concern directly. This shows you understand their perspective and provides a more satisfying and comprehensive answer.

Yes, prepare standard answers for questions that are highly likely to be asked, such as those about your business model, traction, non-bankability, and risks. Also, script out answers to questions that were identified as critical during your practice sessions. This ensures you're well-prepared for common inquiries.

If you suspect a jury member's question stems from a misunderstanding, take a step back and explain the concept again in the simplest terms possible. Avoid jumping straight to the answer or highlighting the technology's benefits without first ensuring they grasp the fundamental principles. This is crucial for highly technical innovations.

Pitfall answers are responses that unintentionally reveal ignorance, weaknesses, or create new concerns for the jury. To avoid them, control the conversation's topics as much as possible and avoid giving answers that undermine the jury's confidence in your team or project. Be mindful of potential follow-up questions and their implications.

The most critical mistake is displaying critical flaws or getting caught off-guard. Some jury members might be looking for reasons to reject your project, so it's crucial to be prepared and able to address any negative points effectively. Failing to do so can negatively influence other jury members and lead to rejection.

Yes, there are many consultancies and experienced writers specializing in EU grants. It's beneficial to assess the number of consultancies available for a specific grant. Consider if the consultancies work with multiple grants, allowing for a more suitable option if needed. For the EIC Accelerator, a variety of consultancies are available with varying business models and industry focus.

Yes, there's often well-organized support on a national level within the EU. SME contact points in key European areas can provide a strong support network and resources to help with applications. However, this support might not be available for all grant opportunities, especially if you don't qualify as an SME.

Document requirements vary, but a business plan or research plan in PDF format is almost always required. The EIC Accelerator often requests additional materials like financial spreadsheets, a short summary, a video pitch, and a pitch deck. Refer to the official proposal template for a comprehensive list.

The submission process varies depending on the grant. While many allow online submissions, some might require submission to local contact points or government institutes. The EIC Accelerator, for example, uses the Funding & Tenders Portal for fully digitized submissions. Always check the specific requirements for each grant.

Yes, country restrictions can apply to EU grant programs. Some programs might be open only to specific countries, while others might include non-EU countries. Special circumstances, like Brexit, can also impose restrictions. It's crucial to assess these potential issues on a case-by-case basis before applying.

When selecting an EU financing program, consider the budget, covered costs, competitiveness, and thematic focus. Also, evaluate local alternatives, the number of submissions allowed, and whether it's for single applicants or consortia. Finally, check for country restrictions, the submission process, available support networks, and consultancies.

The number of submissions allowed varies depending on the specific grant program. Some programs may allow multiple submissions, while others may restrict the number of attempts. It's important to check the guidelines of each program to understand the submission limitations and plan accordingly.

The EIC Accelerator blended financing, formerly SME Instrument Phase 2, is a grant and equity program by the European Innovation Council (EIC) and European Commission (EC). It's designed for innovative companies and offers a strong support network of professional writers and expert consultancies. This program is highly suitable for SMEs looking to scale their innovations.

The evaluation process varies depending on the grant, including the type, number, backgrounds, and focus of the evaluators. The EIC Accelerator uses a remote pool of evaluators via the European Agency for SME's (EASME) and in-person juries for pitch interviews. Understanding the evaluation process can help you tailor your application effectively.

If your application is rejected, consider assessing if consultancies are working with multiple grants. This allows for a more suitable option to be chosen instead of the original one. A more thorough assessment of your project may warrant a transition to a different grant program.

Planning is paramount. The more attention you dedicate to each step of the process, from scripting to filming, the less work you'll need to do during the editing and post-production phases, resulting in a more efficient and effective video creation process.

Prioritize filming meaningful content that directly supports your pitch. Avoid simply collecting everything; instead, focus on capturing high-quality footage that showcases your product, team, and facilities effectively.

Pay attention to settings like lighting, sharpness, saturation, contrast, and white balance. Also, adjust movie settings such as shutter speed, ISO, aperture, frames per second, and resolution. Getting these right upfront saves time in post-production.

Start with your pitch deck as visual material and record interviews with your management team. Prepare questions and concise answers in advance. For hardware footage, plan shots carefully to prioritize quality over quantity, reducing post-production work.

The first step is to split the video into acts. This involves planning the overall structure of the video in a top-down approach, allocating the order and timing for each section to ensure a logical flow and effective use of time.

Animations can be created using software like Adobe After Effects or Microsoft PowerPoint. They should be based on a meticulous script to avoid wasting time on unnecessary visuals. Focus on animations that clearly explain complex concepts or showcase product features.

Aim for about 5 minutes of speaking time per founding member. Prepare questions and concise answers in advance to ensure the interviews can be easily edited down to the desired length for the final video.

Before exporting, double-check that your video doesn't have any issues with framerates, aspect ratios, or resolutions. This ensures that animations, interviews, and hardware footage combine seamlessly in the final product.

The key is thorough preparation in the earlier stages. Ensure your script is concise, film only meaningful content, and optimize your equipment settings (lighting, sharpness, etc.) before filming. This will significantly reduce the workload in post-production.

When scripting, focus on planning the content for each act meticulously. This will make the subsequent production process briefer and simpler, ensuring you stay on message and avoid unnecessary footage or complexity.

Updates on KPIs can be provided on a monthly or weekly basis. This ensures transparency throughout the project and keeps the financing provider informed of progress. Regular updates demonstrate accountability and commitment to the project's success.

KPIs are company-centric metrics that may or may not be directly related to R&D tasks. They provide a commercial view of the project's progress and can be linked to Work Packages. Examples include active users, revenues, or obtained patents.

Instead of general goals, define specific methods and actions. For example, instead of 'develop a production process,' specify 'implement X until Y is reached and integrate peripheral technologies such as Z.' This provides clear direction for experts and developers.

Work Packages are individual segments of the development project, arranged by area of focus and expected timeline. They are a way to structure R&D work into specific tasks with budgets and deadlines. The EC prefers the use of designated Workpackages (WP).

Consider a three-tiered structure: project management at the top, task management in the center, and KPI tracking at the bottom. This top-down approach can be helpful for companies new to the strict tracking requirements or those lacking experience in long-term development projects. It helps delegate responsibilities effectively.

Add KPIs or milestones to Work Packages to connect tasks with business metrics. For example, a goal of reaching a certain number of active users can be added as a KPI to a WP. This clarifies not only what and how tasks are performed, but also why.

Quantification is key for both tracking and project execution. Use unit numbers, quality markers, and other measurable items to define development tasks. This allows for objective assessment of progress and performance.

SMART stands for Specific, Measurable, Assignable, Realistic, and Time-bound. Applying these principles to each task ensures clarity, quantifiability, and feasibility. This maximizes the chances of successful development work.

The cornerstones include initiation, planning, execution, controlling, monitoring, and closing. These ensure that all essential tasks are performed with clear responsibilities. Distribute responsibilities according to a hierarchy, with a project leader at the top and managers for each segment.

The core aspects are managing the overall project, managing individual tasks, and tracking key performance indicators (KPIs). The European Commission and EIC require constant updates on these aspects to ensure the project's progress. Startups should be aware of the bureaucracy involved in EU funding projects.

Yes, the Seal of Excellence Platform exists, but it operates on a smaller scale. The proposed VC-Hub would be a more comprehensive and integrated platform, leveraging the EIC's evaluation process and network to connect innovative companies with a wider range of investors.

Transforming into a VC-Hub would make the EIC Accelerator more attractive to innovative companies. It would provide multiple avenues for success, not solely dependent on government funding. This broader approach could significantly increase the program's impact and reach within the European innovation ecosystem.

The EIC could create a platform similar to AngelList within the Funding and Tenders portal. This would allow applicants to upload pitch decks, videos, and proposals for vetted investors to review. The EIC could also organize online pitch events, connecting companies with relevant venture capitalists and increasing their chances of securing funding.