Frequently Asked Questions

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.

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.

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.

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.

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.

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 You must use the exact same deck during the interview, even if the information is outdated.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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Yes, the EIC Accelerator favors sophisticated technologies that are difficult to copy. While not all funded companies are DeepTech, your technology must be complex. Explain the technology in detail, even if it's technical, but ensure it's well-structured and written.

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.

Yes, LOIs are very helpful, especially in Step 2 and Step 3 of the evaluation process. They demonstrate market demand and show that real customers are interested in your product. They also allow you to showcase case studies highlighting the impact of your innovation.

Disruptive potential means your innovation has the ability to significantly change the status quo. This can be driven by political pressures (like climate change) or focused on a specific industry. Clearly explain the current industry state and how your innovation will disrupt it.

Your application should be very detailed. A common mistake is not providing enough text and arguments. Quantify the problem from global, EU, and customer perspectives, and clearly quantify the benefits of your solution.

Traction can be demonstrated through various support documents. Examples include signed contracts with customers, formal letters of intent, letters of support from partners, customer lists showing sales, and even informal email requests for your product or service.

Given the length and complexity of the application, many applicants choose to work with professional grant writers or consultants. They can help ensure your application is comprehensive, well-written, and effectively addresses the evaluation criteria, increasing your chances of success.

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.

The EIC Accelerator is designed for scaling up, not seed funding. You should demonstrate existing commercial traction in some capacity. Gather as many support documents as possible, including contracts, LOIs, customer lists, and even informal email requests.

Yes, it's beneficial to repeat important numbers and facts throughout the application. This ensures evaluators don't miss crucial information. However, avoid simply copying and pasting the same text; instead, present the information in new ways.

Your script should always cover the core aspects of your project: the innovation itself, the market opportunity it addresses, and the team behind it. Even within a tight 3-minute timeframe, these elements are essential for conveying the value and potential of your venture to the evaluators.

Start with a general overview of what your innovation does. Then, clearly illustrate its use case with a practical example. Avoid technical jargon and focus on the benefits and impact of your solution.

Consider outsourcing tasks like animation, voiceovers, or filming to save time and costs. A well-defined script is essential for effective outsourcing, ensuring that external contributors understand your vision and can deliver high-quality results.

Each act can utilize various techniques like interviews, animations, or footage of your product. Blend these methods to suit the content of each segment. Scripting these elements beforehand streamlines the post-production editing process and saves time.

Start by splitting your video into main segments or 'acts' to allocate time effectively. Common acts include Problem, Innovation, Traction, Company, and Opportunity. Tailor the structure to best showcase your specific project and technology, ensuring a logical flow of information.

Scripting is crucial because it helps you structure your limited time effectively and present a clear, concise message. A well-scripted video allows you to compress more information and create a greater impact compared to other proposal documents. It also helps avoid a rushed video production, which can negatively impact the evaluation.

Prioritize refining the script by shooting test footage and gathering feedback. Iterate on the script based on this feedback until you achieve the desired quality and clarity. This iterative process is crucial for creating a compelling and effective pitch video.

Begin by highlighting the most significant issue (e.g., deaths, costs, low KPIs) that your innovation addresses. Then, clearly explain how this issue is rooted in a lack of suitable technology, setting the stage for your solution.

Follow the general rules for a good project narrative. Start by highlighting the biggest problem your innovation addresses, then explain how the problem stems from a lack of technology. Finally, present your innovation in a simple, easy-to-understand manner, focusing on its use case.

Video scripting requires more meticulous planning due to the strict time constraints. Unlike a pitch deck with page restrictions, a video's success hinges on how effectively you use every second. A rushed video is perceived more negatively than a rushed pitch deck, so careful scripting is key.

Historically, the EIC Accelerator's success rate has varied, generally ranging between 1% and 6%. This is with application volumes typically between 1,000 and 4,000 per call. Keep in mind that competitiveness can fluctuate.

Start by assessing key criteria like the total budget available, the amount you can request, and the percentage of project costs covered. Also, consider the competitiveness of the call. Evaluating these factors will help you make an informed decision.

Look for the Work Programs or the specific call page on the Funding & Tenders Portal. These resources usually publish the total budget available and the expected budget per project. This information is crucial for determining if the grant aligns with your financing needs.

The official Funding & Tenders Portal is your primary resource. It provides details and guidance on various programs offered by the European Innovation Council (EIC) and the European Commission (EC) to support SMEs. You can also consult with professional writers or consultants for expert advice.

No, the EIC Accelerator, while attractive, isn't suitable for all. Before applying, carefully consider if it aligns with your company's stage and needs. Other programs like FET Open or the Green Deal Call might be a better fit depending on your specific project and goals.

Check the call pages on the Funding & Tenders Portal and follow relevant social media outlets, such as Twitter. These sources often provide updates on budgets, deadlines, and other important information related to EU grant programs.

The EIC Accelerator provides up to €17.5 million per project in a combination of grant and equity financing. This significant funding can be a game-changer for eligible startups and SMEs looking to scale their innovations.

Check the total budget amount and the number of submissions from previous calls. This information is often published on the call page or on social media. For one-off calls, consultants or funding experts can provide guidance based on similar past opportunities.

The EIC Accelerator typically finances 70% of the total project costs. The remaining 30% needs to be covered by other sources, such as revenues, investments, or other external funding. Keep this in mind when planning your project budget.

If the EIC Accelerator isn't the right fit, consider exploring options like FET Open, Pathfinder, or the Green Deal Call. Each program has its own focus and eligibility criteria, so research which aligns best with your project's goals and objectives.

Even when outsourcing grant writing, applicants risk investing time and resources into a project that may not get funded. Opportunity costs are a hidden factor, especially with the new freezing periods. It's crucial to assess a consultancy's expertise and dedication, not just its business model.

The 'freezing period' refers to a period after an unsuccessful application where you may be restricted from reapplying immediately. This increases the opportunity cost of a failed application, making it even more important to choose the right consultancy.

The size of the consultancy is less important than its operating methods and internal incentives. Focus on finding a consultancy that is selective, transparent, and dedicated, regardless of its size.