Frequently Asked Questions

Use a pilot customer or imaginary customer as an example to illustrate the impact of your technology. Show how your product reduces production time, costs, or improves efficiency. Translate these improvements into tangible financial benefits or other measurable outcomes for the customer.

Identifying USPs is crucial because the EIC Accelerator proposal specifically assesses the commercial impact of your technology. Clearly defined USPs demonstrate the unique value your product or service offers compared to existing market solutions. This is a key factor in convincing evaluators of your project's potential for success and return on investment.

Begin by listing 1-5 unique technological features that represent the core innovation of your product or service. Focus on aspects that differentiate you from current market alternatives. These could be unique hardware mechanisms, software features, or any other distinctive capability your technology possesses.

The EIC Accelerator, funded by the European Innovation Council (EIC) and European Commission (EC), targets high-risk startups and SMEs with significant commercial potential. It offers substantial funding, up to €17.5 million per project, through a combination of grants and equity. This funding is designed to support scale-up activities for innovative ventures.

If you can clearly explain why you achieved a technology milestone or developed a feature that others haven't, and if it's due to a technical innovation or complexity, it's likely unique. Avoid vague answers like "no one has tried it yet," as this doesn't demonstrate a strong USP.

For each technological feature, consider these questions: Why does your technology have this feature but not others? Is it hard to copy? Is it patentable? How do you quantify the benefit per unit? What does this benefit mean for your customer? Answering these questions will help you assess the true uniqueness and value of each feature.

SMEs should understand that consultancies often outsource writing tasks to freelancers. While you might expect to work with a single point of contact, the actual writing may be done by an external expert. This allows the consultancy to leverage specialized skills and manage its workload effectively.

Full-time consultants often focus on managing and editing proposals rather than writing them from scratch. They provide strategic guidance, ensure quality control, and manage client relationships. Their expertise is crucial for navigating the complex requirements of the EIC Accelerator program.

Freelancers have the freedom to decline projects that don't align with their expertise or interests. They might also decline if they believe the startup lacks the prerequisites for a successful application. This allows them to focus on projects with a higher chance of success and manage their time effectively.

Freelance writers should focus on going beyond the minimum requirements of each project. They should be dedicated to the client's goals and work to improve the proposal's overall evaluation. Developing strong communication and strategic thinking skills is also crucial for success.

The EIC Accelerator is constantly evolving, with changes to proposal templates, evaluation processes, and eligibility requirements. Freelancers need to stay updated on these changes, which requires time and effort. The uncertainty and fluctuating demands of the industry can make collaboration with a consultancy more appealing for the sake of stability.

Freelancing offers writers freedom and flexibility in their work. They can choose projects that align with their expertise and decline those that don't. This allows them to control their workload, build diverse revenue streams, and avoid the constraints of traditional office environments.

Freelance writers can increase their visibility by networking, showcasing their expertise, and building a strong online presence. They can also consider joining freelancer databases or platforms that connect them with potential clients. Proactively marketing their services and building relationships with consultancies can also help.

One way to improve transparency is to increase the visibility of freelance writers. This would allow startups to connect directly with experienced writers, potentially leading to closer client relationships and more dedicated project support. This direct interaction could foster a better understanding of the proposal writing process.

Freelancers often lack visibility in the industry and may struggle to attract clients directly. They may also be inexperienced in contract negotiation and client assessment. Additionally, they might rely on senior consultants for editorial support and lack the resources for marketing and administrative tasks.

Consultancies use freelancers to increase their capacity and access a diverse pool of expertise. It's often more economical to hire freelancers for writing tasks, allowing full-time employees to focus on management and editing. This system allows consultancies to handle a larger volume of applications without rejecting projects due to a lack of internal resources.

The Seal of Excellence (SOE) is a quality label awarded to companies that have received a high score (above 13) in the EIC Accelerator evaluation process but were not selected for funding due to budget limitations. Receiving the SOE demonstrates the high quality of your proposal and can help you attract funding from other sources.

The majority of companies funded by the EIC Accelerator follow a Business-to-Business (B2B) model. Around 77% of funded companies target other businesses as their primary customers. Only 23% focus on end-users through Business-to-Consumer (B2C) products.

The jury members who evaluate the pitch week interviews have a strong investor-oriented background. They typically include innovation and industry specialists, venture capitalists, serial entrepreneurs, and business angels. This ensures that the selected projects are not only innovative but also have strong commercial potential.

For companies awarded blended financing (grant with equity option) in 2019 and 2020, the overall budget was €278 million in grant financing and €583 million in equity. The average financing amount for these companies was approximately €6.5 million. This blended approach provides both grant support and equity investment to help companies scale up.

The EIC Accelerator tends to fund projects in specific industries more frequently. The top-funded industries include Health, Energy, IT software, Transportation, and Food. If your company operates in one of these sectors, it might align well with the EIC Accelerator's funding priorities.

EIC Accelerator-awarded companies have been successful in attracting significant follow-up funding. They've secured a total of €5.3 billion through private investments and other channels like equity, debt, mergers, acquisitions, and IPOs. Equity investments make up the majority of this follow-up funding, accounting for approximately €4 billion (74%).

The EIC budget has increased from €3 billion under Horizon 2020 (2018-2020) to €10 billion for Horizon Europe (2021-2027). This translates to an increase from an average of €1 billion per year to €1.42 billion per year, representing a 42% increase. This substantial increase indicates a stronger commitment to innovation and deep tech within the EU.

The success rates for the EIC Accelerator are quite competitive. With around 9,700 applications received in a single year, the average success rate is only about 2-3%. Factors like the COVID-19 pandemic and the popularity of specific calls, such as the Green Deal, can further lower the success rate, potentially to 1% or even lower.

The European Commission actively promotes gender equality within the EIC Accelerator. They have made efforts to increase the share of women-led companies receiving funding. For example, during the Green Deal deadline, the percentage of beneficiaries with female CEOs rose to 34% due to dedicated efforts. The gender balance of jury members is also considered to ensure fairer results.

The EIC Accelerator shows a preference for younger SMEs. The share of companies older than 10 years has decreased, while the share of startups younger than 5 years has increased. This indicates the EU's focus on supporting breakthrough innovation and achieving faster time-to-market for new technologies.

The primary way you'll be notified is via email from the Funding and Tenders Portal. This email will inform you if you're invited to the EIC Accelerator interview week. Make sure to check your email regularly after submitting your application.

In addition to the main notification area, check the document upload and communication area under "My Organizations" and the messaging section under the "Follow Up" section for an approved grant project. These areas may contain important messages and updates from the EC.

The list of beneficiaries includes key details about the funded companies, such as their name, website, acronym, project title, and the type of funding they received (grant or blended financing). It also includes the country of origin and city of residence for the applying entities.

The EC publishes regular reports on the EIC Accelerator's performance. These reports contain valuable statistics and key figures, information on the types of projects funded, and overall changes in budget, proposal template, gender contributions, and industries.

CORDIS (Community Research and Development Information Service) is a database where projects selected for EIC Accelerator funding are published after signing the Grant Agreement Contracts (GAC). You can find details like project timing, budget, coordinator name, and participating entities on CORDIS.

If you haven't received an email, check the Funding and Tenders Portal (F&TP) periodically. Look for notifications highlighted as badge counts. The EC uses the F&TP to communicate important updates and news to applicants.

If you're unsure about when to expect communications, check the EIC's Twitter account. They often provide information on the timing of future announcements and updates. This can help you stay informed and prepared.

The Funding and Tenders Portal is the main platform used by the European Commission for managing grant applications and providing feedback. It's crucial to create an account and regularly check it for updates and notifications regarding your EIC Accelerator application.

Yes, you can find information on social media platforms like Twitter, Facebook, YouTube, and LinkedIn. Search for the hashtag #EICAccelerator to find companies sharing their experiences with the grant application process. The EC also publishes information on these platforms.

The European Commission publishes a regularly updated list of beneficiaries on the EIC Accelerator call page. This list includes the company name, website, acronym, project title, and type of funding received. It's a great resource for seeing who has been successful.

The EIC Accelerator program, run by the European Commission and European Innovation Council, offers funding to startups and SMEs. It provides up to €2.5 million in grant funding and up to €10 million in equity financing, totaling a potential €12.5 million per project. This funding supports innovative projects with high growth potential.

To reduce the risk of AI inaccuracies, the EIC can use multiple iterations of AI evaluations. Averaging the results from these repeated evaluations can enhance accuracy and reduce randomness. This approach is cost-effective compared to using human evaluators or consultants.

The 'judge AI' receives input from both the 'good cop' and 'bad cop' AIs. It then uses a weighted assessment system to provide a final score for the proposal. The EIC can customize this weighting to reflect its priorities, such as favoring domain expertise over industry experience for DeepTech founders.

The proposed system is designed to be comprehensive and easy to incorporate. The architecture allows for easy updates and additions of new AI modules. For systems like ChatEIC, the integration would be relatively straightforward since the architecture is already present.

The EIC should prioritize using a European LLM or an open-source LLM operated by a European company. This approach minimizes the risk of data breaches and ensures compliance with European data protection regulations. It also supports the development of European AI capabilities.

The EIC is aiming to improve its Step 3 interview success rate. This metric reflects how well the current evaluation process filters applicants in the earlier stages. By using AI, the EIC hopes to refine the selection process and ensure that only the most promising projects advance to the interview stage.

The 'good cop, bad cop' approach involves using two AI models with opposing objectives. One AI (the good cop) focuses on identifying positive aspects of a proposal, while the other (the bad cop) seeks out potential weaknesses. This ensures a balanced assessment before a final judgment is made.

The EIC can use AI to identify and reject low-quality or unsuitable proposals early in the process. By analyzing proposals that reach Step 3 but should not have, the AI system can learn to avoid similar mistakes in the future. This saves time and resources for both the EIC and applicants.

EIC Accelerator proposals contain sensitive IP, so confidentiality is crucial. Using non-EU-based AI models poses a risk to this confidential information. The EIC needs to prioritize using European LLMs or open-source LLMs operated by European companies to mitigate this risk.

Integrating web search functionality allows the AI to access and analyze external information relevant to the proposal. This can help the AI verify claims, assess market trends, and identify potential competitors. Systems like ChatEIC already have web search functionality that can be easily integrated.

The best-case scenario is a low-effort first step with a high success rate, followed by more selective steps that require more effort. This allows startups to quickly determine if the EIC Accelerator is a good fit for them without wasting significant time and resources. This approach reduces the entry barrier for startups.

One potential direction is to remove the full application (Step 2) altogether. In this scenario, all applicants who pass the mini-application in Step 1 would directly proceed to a remote evaluation. This is particularly feasible for equity applicants, as the due diligence process can replace the in-depth financial documentation of Step 2.

Applicants should carefully consider the effort required for each application stage and weigh it against their chances of success. If the initial steps require minimal effort and offer a reasonable chance of progressing, it may be worth pursuing. However, if the effort-to-success ratio seems unfavorable, it may be better to explore alternative funding options.

The EIC Accelerator is adding a third step: a video pitch and mini-application. This new step could significantly change the success rates and effort required for each stage. The overall impact will depend on how the European Agency for SME's (EASME) and the European Innovation Council's (EIC) score and rank proposals.