Frequently Asked Questions

Consultancies typically operate with varying fee structures. Some charge high retainer fees with lower success fees, while others opt for low retainer fees coupled with high success fees. Some also offer additional services like project assessments, market scaling consulting, or project management for funded projects.

Consultancies often diversify their revenue streams and employ a core team of full-time experts. They may outsource writing to freelancers to manage fluctuating workloads. This approach can be beneficial but also potentially dilute expertise and impact success rates.

Inquire about how your company compares to typical EIC Accelerator recipients. Ask who will be writing the proposal and if the writer will change. Determine who your fixed contact point will be and if your project has been thoroughly vetted.

During initial discussions, gauge the consultant's understanding of your innovation project and business model. A good consultant will ask insightful questions and demonstrate a clear grasp of the intricacies involved.

Transparency ensures you know exactly who will be working on your proposal, their qualifications, and their level of commitment. A consultancy that is not transparent or lacks certainty may not be fully dedicated to your project's success.

The EIC Accelerator application process is complex and demanding. Many startups and SMEs find it challenging to navigate the intricate requirements and prefer to seek expert assistance to improve their chances of success. Consultancies provide specialized knowledge and support in crafting compelling proposals.

Excellent consultancies exhibit selectiveness, transparency, and dedication. These qualities are more important than the consultancy's size or business model. Look for these traits in your direct communication with the consultants.

Pixabay and Pexels are excellent resources for free, attribution-free stock videos. Videezy also offers free footage, along with premium content available for purchase. These sites provide a range of options to visually enhance your pitch video without incurring significant costs.

While YouTube and SoundCloud can be good sources, be cautious. Many channels advertise royalty-free music, but the licensing structures can be complex and not entirely free. Always carefully review the licensing conditions before using any music found on these platforms.

While technically you *could* use copyrighted music since the video is initially intended for a limited audience, it's generally not recommended. To avoid any issues if the video is later shared more widely, it's best to stick to royalty-free music or purchase a license. This also allows you to freely share the video with potential investors.

The EIC Accelerator pitch video is a new requirement for proposals, adding to the workload for startups and SMEs. It's a short video that summarizes your project and its potential, intended for review by the European Agency for SME's (EASME) evaluators and pitch interview jurors. Think of it as a concise, visual elevator pitch for your innovation.

Several resources offer royalty-free music. Pixabay is a great option with music under the Creative Commons license, allowing commercial use without attribution. Also, check out SoundCloud, YouTube channels that offer royalty-free music, and the Free Music Archive, but carefully review the licensing conditions for each track.

Unsplash and Pixabay are fantastic resources for free stock images that can be used for both your pitch video and written proposal. They offer cost-free and attribution-free photos for commercial use. Unsplash often has higher-quality images for specific keywords.

It depends on the specific resource. Pixabay and Unsplash, for example, generally don't require attribution. However, always double-check the licensing terms for each piece of content you use to ensure you're complying with the requirements.

It depends on your budget and needs. Paid services like Shutterstock and AdobeStock offer higher-quality, curated content. If you need something very specific or want the best possible visuals, paying for stock resources can be a worthwhile investment. However, many free alternatives offer competitive options.

A hired consultant should have access to a variety of resources for video production, including stock video clips, background music, images, and video editing software. This ensures they can efficiently coordinate all aspects of the video production process.

Yes, websites like AudioJungle, ShutterStock, and AdobeStock offer premium, high-quality stock music, video, and images. These services usually operate on a subscription or one-off purchase basis. They provide a more curated selection and potentially more customized footage.

The EIC Accelerator pitch video is a new requirement in the EIC Accelerator blended financing program. It's a short video that startups must create to pitch their project. It's important because it's part of the evaluation process and can significantly impact funding chances.

This article mentions a resource on 'How to Script a Pitch Video'. Look for that resource to get more detailed guidance on creating an effective video script.

The first step is a Kick-Off Meeting (KOM) with the founders and the writing team. This meeting defines the project, its scope, and the core messages that need to be communicated in the video.

Common concerns include a lack of existing video footage, no camera equipment, limited video production skills, difficulty scripting, remote team locations, and unfamiliarity with editing software.

Planning the video production is the biggest challenge. Unlike written content, re-editing a video is resource-intensive. The narrative needs to be perfected from the start to avoid costly re-recording.

Many startups, especially early-stage and DeepTech companies, lack video production funds and expertise. Creating a high-quality video takes time and resources, which can be a burden, especially when they're focused on innovation rather than marketing.

Adjust the workflow by dedicating time to define the core messages that need to be communicated in the video. These messages should be customized to highlight the unique aspects of each startup's technology or business model.

A consultancy can provide guidance, planning, and expertise in video scripting and production. They can help startups overcome challenges and create a compelling pitch video remotely.

If you have limited resources, focus on creating a simplified framework for remote and lean video production. This involves careful planning and potentially seeking guidance from consultants or freelancers.

The pitch video increases startups' reliance on consultants who have video production skills. This can widen the gap between projects that get funded and those that don't, as consultancy support becomes more crucial.

Yes, engaging with consultants or writers specialized in EIC Accelerator pitches can be very beneficial. They can provide expert feedback, help you refine your messaging, and conduct mock interviews to prepare you for the real thing.

The EIC Accelerator pitch interview is a key part of the evaluation process for companies seeking blended financing (grant and equity). It's designed to assess the commercial viability of your project, with a jury of VCs and angel investors focusing on your go-to-market strategy. Strong performance is crucial for securing funding.

Don't assume the jury has prior knowledge of your project or proposal. Your pitch needs to be self-contained and clearly explain your innovation, market opportunity, and business model. Focus on clarity and conciseness.

Remember that the jury is primarily concerned with helping the EU select the best projects. Focus on demonstrating the commercial viability and market potential of your innovation to convince them that your project deserves funding.

Leverage your network. Reach out to VCs, accelerators, startup networks, industry mentors, or even your social media audience. Presenting to diverse audiences will expose you to a wider range of questions and perspectives.

Practicing the pitch goes beyond simply reading your slides. It involves simulating a real-life scenario with a live or remote audience, a stopwatch, and a full presentation including the Q&A. The goal is to get feedback on your delivery and responses.

Reach out to companies that have previously received EIC Accelerator funding. Inquire about their pitch experience, the types of questions they were asked, and any tips they can offer. This can provide valuable insights and help you tailor your preparation.

You'll have a strict 10 minutes to deliver your pitch, followed by a 30-minute question and answer session with the jury. Time management is critical, so practice your pitch to fit within the allotted time.

Even without direct access to VCs, you can still practice effectively. Use colleagues, friends, or even online communities to simulate a pitch environment and get feedback on your presentation and answers.

Aim for regular practice sessions, such as every second or third day over a two-week period. This allows you to refine your pitch, prepare supporting documents, and research relevant topics in between sessions.

This article is part of a series. Be sure to read Part 1, Part 3, and Part 4 for a complete understanding of the proposed evaluation process and its potential benefits.

The application process should prioritize the easiest tasks first, like executive summaries or pitch videos, and place the most complex tasks, such as the full 30-page application, last. This tiered approach reduces the initial burden and aligns with the resources typically available to startups.

The current process evaluates applicants differently in each step, with the initial written application often misaligned with the VC-style interview later on. Success in the early stages doesn't guarantee later success, and the resource-intensive 30-page application is a significant burden, especially for smaller companies.

Shorter applications, like pitch decks or videos, can be created by a startup's core team. Lengthy applications often require specialized grant writers, potentially favoring companies skilled in grant writing over genuine innovation.

Splitting the main application into multiple files, like separate one-pagers for impact and excellence, simplifies the enforcement of restrictions. This is more effective than a single, large PDF where formatting rules can be easily bypassed.

Using form fields for financials, hiring projections, and cost breakdowns allows for structured data collection. This reduces the need for lengthy text descriptions within the main application document, simplifying the process.

Startups should prioritize developing strong visual communication skills and the ability to create concise, impactful pitch decks. These skills are more broadly applicable to their business than specialized grant writing.

Visuals like charts and diagrams are easier to understand and evaluate than large blocks of text. They also allow companies to showcase their innovation in a more engaging and memorable way, improving their chances of success.

Limiting the word count per page encourages applicants to use visuals like illustrations and graphics. These visuals are quicker to evaluate and allow companies to leverage design skills, which are often more readily available than grant writing expertise.

Template restrictions, like page limits and font sizes, directly influence the skills needed to apply. By carefully managing these restrictions, the EIC can shape the type of companies that are successful in the application process.

Blended financing combines a grant with equity investment from the EIC Fund. This approach is designed for projects aiming to reach TRL9, meaning they are close to or at commercial readiness. It provides both upfront funding and long-term investment.

A successful project can receive up to €2.5 million in grant funding and up to €15 million in equity financing, for a total of €17.5 million. The specific amount depends on the project's needs and the EIC's evaluation.

The overall success rate for Step 2 applications in the June 2022 cut-off was 7.6%. Grant-first applications had a 12.6% success rate, grant-only had 5.1%, and blended financing had 6.7%. Remember that Step 1 success rates also factor into the overall probability of success.