Frequently Asked Questions

Original Equipment Manufacturers (OEMs) represent a 'first-level' partner. They integrate your technology directly into their existing products and distribute it to end-users. Because OEMs already have established trust with customers, their adoption of your technology immediately lends credibility.

Second-level partners are intermediaries or stakeholders essential to the value chain but considered optional. These could be service providers like mechanics, consultants, or certifiers. Their recommendations carry weight with customers, making them valuable allies in building trust and driving adoption.

Focus on securing validation from trusted third parties or demonstrating early product success. Getting established partners to invest time and money in your company can also signal trust to other interested customers. These actions can significantly accelerate your product's deployment and market acceptance.

Don't just describe your product development and target markets. Instead, detail the specific steps you'll take to scale within those markets. A strong commercial strategy should outline a network of carefully selected partners who are crucial for reaching your target customers and driving significant growth.

Leveraging the trust of partner networks is a powerful approach to building customer relationships and driving market adoption. By strategically aligning with trusted partners, you can overcome skepticism, accelerate growth, and ultimately achieve greater commercial success.

Consider which partners hold the most authority in your target market. Think about how their endorsement could build trust with customers. Explore diversifying your existing strategy with additional partners and sales channels to maximize your potential for growth and profitability.

Your commercial strategy should detail the specific measures you'll take to scale within your target markets. It should also describe a network of carefully selected partners who are imperative to reaching your target customers. Clearly outline the roles of these partners in commercializing your product.

The team's track record is arguably the most important factor. Investors and evaluators understand that past success is a strong indicator of future success. Highlight the company's past accomplishments, such as technology milestones, awards, secured financing, and other achievements that demonstrate a high barrier to success.

Focus on three key areas: team background (education, industry origin, and balanced expertise), team relationships (founding team dynamics and stakeholder network), and team track record (past successes). By thoroughly assessing these aspects, you can build a strong case for the team's ability to execute the project and achieve its goals.

The ideal team should have a strong technical background balanced with commercial expertise. Avoid teams that are exclusively marketing-focused or purely technical. A balanced team, even if R&D-heavy, demonstrates the capacity to both develop and commercialize the innovation. An advisory board can supplement the team, but shouldn't be the sole source of commercial knowledge.

When assessing a team, focus on their background, the relationships between team members and departments, and the overall track record of both the company and individual team members. A strong team is crucial for demonstrating the ability to implement and execute the proposed innovation developments. The EIC Accelerator template covers the team in great length, so it's important to clarify the team's quality early on.

Showcase accomplishments like technology milestones, awards, prizes, and secured financing (seed, angel, VC, or grants). Also, highlight any other acknowledgements that demonstrate a high barrier to success. These achievements demonstrate the company's ability to overcome challenges and achieve significant results.

Team relationships are very important. Highlight how the team was formed, how members are incentivized, and their overall commitment to the company's success. Assess how well-connected the team is to important stakeholders like customers, regulators, and commercial partners. Strong relationships demonstrate a solid foundation for commercialization and scaling.

Analyze the incentives to validate the long-term commitment of team members. Pay special attention to the company's ownership structure and future projections regarding equity investments and potential dilution. A committed core team is essential, so avoid relying heavily on interns, freelancers, or contractors who may have lower commitment levels.

Focus on the founding team's dynamics and their stakeholder network. Understand how the team was formed and how well they connect with customers, regulators, and commercial partners. A strong network demonstrates the team's ability to navigate the commercial landscape and build crucial partnerships for scaling the business.

Yes, the track record can extend to the past successes of individual team members. For example, highlight if a founder successfully scaled a production process or exited a profitable technology startup. Any past achievements that demonstrate relevant experience and expertise should be included to strengthen the team's overall profile.

When assessing the team's background, consider their education, industry origin, and the balance of in-house expertise. Ensure there's a mix of technical and commercial skills to demonstrate the team's ability to both develop and market the innovation. A well-rounded team inspires confidence in the project's potential for success.

No, the template is just a guideline. Don't treat it like a questionnaire. Instead, use it to structure a comprehensive and unique application. None of the text from the original template, outside of the headlines, should appear in your written application.

To improve your chances, dedicate ample time to writing, understand the evaluation criteria, and customize your proposal to your specific project. Don't be afraid to resubmit your application after making improvements based on feedback. Also, ensure all annexes are professional and well-designed.

While Document 1 is the most important part, don't neglect the annexes, including the pitch deck and financial documentation. These influence the overall impression of your application. Make them look professional and well-designed to maximize your chances of success.

Evaluators use a specific checklist of criteria, outlined in the Evaluation Summary Report (ESR). Make sure your application addresses all of these points, even if they aren't explicitly mentioned in the template. Understanding the evaluation criteria is crucial for a successful application.

No, the template is intentionally vague and general. It doesn't account for the individuality of each project. You need to proactively elaborate on sections according to your specific case, adding details relevant to your business model and commercial strategy.

Provide enough detail to tell a complete and impressive story. Don't just give 'yes' or 'no' answers. Elaborate on each point and explain why the current timing is perfect for investment, market needs, and competitive advantages. Be comprehensive but avoid being too wordy.

The proposal needs to be a well-written business plan, but it also needs to tell an exciting story. Connect all sections, even seemingly unrelated ones, to create a consistent and logical narrative. Fill in the gaps between sections to ensure a natural flow and address any missing aspects.

You should dedicate at least 50 days to prepare a great application. Rushing the process is a common reason for low scores. Take the time to properly read the Work Programme and template, and treat the application as a well-crafted financing proposal, not a lottery ticket.

No, don't give up. There's no limit to how many times you can submit an application. If your initial score was close to the threshold, revise and improve your proposal for resubmission. Persistence is key, as it often takes multiple attempts to secure funding.

One of the biggest mistakes is treating the application template as a questionnaire. Applicants should view the template as a guide and develop a comprehensive, unique proposal that tells a compelling story about their innovation, market opportunity, and team.

No, it's crucial to be honest about your company's traction and financial status. While demonstrating traction is important, overstating it can be detrimental. Remember that the EIC Accelerator is looking for projects that still require funding to fully realize their potential, so highlight the need for their support.

It's perfectly acceptable to have paying customers while still being in the prototype stage. Just make sure to clarify that the EIC funding is needed to fully develop and commercialize the product. Emphasize that the funding will help you scale and reach your full potential.

Non-bankability means that your project is unlikely to receive traditional bank loans due to its high-risk nature or innovative technology. This is an important criterion for the EIC Accelerator, as they aim to fund projects that wouldn't otherwise receive funding. Highlight why your project needs the EIC's support to overcome these financial barriers.

The EIC Accelerator wants to fund projects that have a high likelihood of success. Traction provides evidence that customers want your product or service, reducing the risk for the EIC. Demonstrating traction validates the market need and increases the chances of commercial success, making your project more attractive to investors.

Traction refers to the customer demand and industry interest in your innovation. It demonstrates that there's a market need for your product or service, which is crucial for commercialization and scaling. Without traction, it's difficult to prove the market potential and justify the investment from the EIC Accelerator.

You can show traction through various methods, including surveys and customer contact, pilot tests, and securing paying customers or Letters of Intent (LOIs). These actions validate customer interest and demonstrate the potential for commercialization. The more concrete the evidence, the stronger your application will be.

Surveys and customer contact are the minimum requirement for demonstrating traction. They show that you're actively engaging with your target audience and gathering feedback. This is crucial for validating the customer need, which is a key aspect of the EIC Accelerator evaluation process.

Pilot tests demonstrate that your prototype is being tested in a real-world environment. They provide tangible data on efficiency, cost, and benefits, proving the value and ease-of-use of your innovation. Successful pilot tests show that your product addresses customer pain points and is accepted by the target user group.

A strong value chain, including distributors, retailers, and industry opinion leaders, can validate your project. These stakeholders are familiar with customer needs and can act as multipliers for your product. Their support strengthens your commercialization strategy and demonstrates a clear path to market.

Paying customers and LOIs are the most powerful forms of validation because they represent a concrete commitment to your product. They demonstrate that customers are willing to invest in your solution, making your commercial strategy more plausible. This significantly increases your chances of securing EIC Accelerator funding.

The term 'game-changing' should be used to describe the potential impact of your product or service. Highlight how it significantly alters the existing market or addresses customer needs in a revolutionary way. Provide concrete examples of how your innovation will disrupt the status quo and create a new paradigm.

In the context of EIC Accelerator applications, 'buzzwords' are specific keywords or phrases that the European Commission and EIC often look for. While not necessarily essential to a good business model, including these terms can help evaluators recognize key aspects of your project and score it favorably against predefined criteria. Using these terms demonstrates that you understand the EIC's priorities and can strengthen your proposal.

The EU prioritizes job creation, so emphasize the direct and indirect job opportunities that your project will generate. Quantify the number of jobs you expect to create and explain how your project will contribute to economic growth and employment in relevant sectors. You can also discuss how your innovation might prevent job losses in certain industries.

While you don't need to explicitly state that you'll become a unicorn, your company's vision should reflect the potential for significant scale and impact. Demonstrate a clear path to substantial growth and market leadership. Showcase the potential for your innovation to disrupt existing markets and create significant value.

Discuss the environmental impact of your project and how it aligns with principles of sustainability and a circular economy. Explain how your innovation reduces waste, conserves resources, or promotes environmentally friendly practices. Highlighting these aspects can significantly improve your application's appeal.

Acknowledging the risks associated with your project is crucial, as the EIC Accelerator is designed to support high-risk, high-reward ventures. Clearly identify the potential challenges and uncertainties. Then, explain how the EIC Accelerator grant will help mitigate these risks and enable you to reach the desired Technology Readiness Level (TRL).

Evaluators look for innovations that are both user-friendly and offer a compelling value proposition. When describing your innovation, emphasize its ease of use and how it provides excellent value for the investment. Highlight the key benefits and competitive advantages that make your product or service attractive to customers.

'Non-bankable' refers to the difficulty or impossibility of securing traditional financing for your project. To address this, explain the risks involved and why conventional lenders are hesitant to invest. Emphasize the efforts you've already made to secure funding and how the EIC Accelerator grant is crucial to de-risk the project.

Gender equality is a priority for the EU, so highlight any ways your company, project, or innovation benefits women. This could include having a diverse management team, addressing female-specific needs, or promoting equal opportunities. If applicable, explain how your project contributes to improving outcomes for women in relevant fields.

Scalability is a key focus for the EIC Accelerator, so demonstrate how your innovation can be rapidly and efficiently expanded. Discuss scalability in the context of your commercial strategy, work packages, and overall scale-up potential. Show how your business model is designed to handle significant growth without compromising quality or efficiency.

Use the template as a guide, but don't feel constrained by it. Your primary goal is to create a comprehensive and convincing proposal, even if it means deviating from the template's exact structure or wording. Prioritize clarity, completeness, and alignment with the evaluation criteria.

Yes, you can creatively structure your proposal, including the positioning of sub-sections. As long as you maintain the general sections (Excellence, Impact, Implementation) and the proposal remains logical and comprehensive, you have flexibility in how you present the information. Tailor the structure to best suit your project's specific needs.

Yes, you can use a full page for a single Work Package, even though the template suggests limiting them to half a page. The evaluators are more concerned with the content and quality of the information than strict adherence to this specific length guideline. Ensure the information is well-presented and addresses the evaluation criteria.