Frequently Asked Questions

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.