Visual Representation of an EIC Accelerator Proposal Narrative (SME Instrument Phase 2) - Part 3

Part 1 and Part 2 of this article can be found under the provided links.

The following article as a continuation of the visual guide (i.e. Part 3) for the preparation of an EIC Accelerator blended financing proposal (formerly SME Instrument Phase 2, grant and equity financing) which can be used by startups or Small- and Medium-Sized Enterprises (SME) as well as professional writers or consultants.

The EIC Accelerator is a highly competitive grant program offered by the European Commission (EC) and the European Innovation Council (EIC) for all eligible companies based in the European Union (EU) and associated countries (read: Pre-Requisites for an Application).

Technology (bottom half)

After the problem has been described at length and the gravity of its negative repercussions has been illustrated in great detail, the next step will be the presentation of the envisioned solution and how it solves the problem.

This Technology section does not strictly follow the annotated EIC Accelerator template but provides a more general approach as to how such a section could be structured. The official grant proposal template focuses on the business model while this visual guide follows a more abridged version of the overall narrative. It seeks to answer the question as to why the EIC Accelerator is needed as opposed to a private investor who could finance the project.

The EIC Accelerator prioritizes high-risk projects, EU policies, non-bankability and other criteria which are not exactly investor-friendly or -relevant (i.e. gender equality). As a result, this guide targets EU-specific narratives and does not go into detail with respect to other essential proposal sections. A professional grant writer should be aware that the following explanation is omitting key sections in order to present a clear perspective on how a company can argue for the EIC's support.

While the previous narrative was focusing on introducing the missing link (i.e. Part 2), this technology part should be viewed as the enabler which is essential in solving the problem and becoming the missing link.

1. Solution

The first step, after having clearly explained the missing link, is to present the innovative technology that has been successfully developed. It should be clear that the Unique Selling Points (USP) of this technology are directly addressing the missing link and that these are not covered by other market alternatives (thus "unique").

A submitted application will be much more successful if the key user needs are actually addressed only by the innovation which means that the product or service is a must-have and not a nice-to-have.

The transition from "5. Missing link" to "6. Solution" has to be seamless and it must be clear that the innovation itself is needed in order to fix the problem (read: The Missing Link). If the technological developments are not directly addressing the issue then the developments will not be viewed as essential and the evaluation score of the grant proposal will be low.

2. Non-Bankable

Once again, this section deviates from the grant proposal template but the content and reasoning can be applied to certain key sections in the application.

Non-bankability is a key factor for the EIC Accelerator and is the complete antithesis of what an investor usually looks for. An investor wants to invest in great companies before other investors have discovered them while the European Commission (EC) specifically wants to invest in great companies that cannot leverage further funding from any other sources.

As such, the argumentation for non-bankability has to be conducted carefully by still highlighting the competence of the team (incl. financial competence) but also highlighting the need for financing and an inability to obtain it (read: EIC Accelerator Buzzwords). The innovation project should be described as "high-risk" and it should be explained why financing cannot be obtained elsewhere (i.e. further de-risking is needed incl. validation at scale).

3. EIC Accelerator

After the critical need for financing of the innovation-project has been elaborated on, the EIC Accelerator has to be presented as the perfect solution to providing such financing. It should be clear that, in order to solve the EU problem, the EIC Accelerator is needed and acts as a springboard to reach the desired commercialisation.

Here, the necessity of the work packages, the implementation and the desired outcome can be highlighted since it will directly reflect the impact of the grant. The EIC Accelerator must be a key step in realising the project and be presented as a must-have in the following development steps (read: TRL Stages). While "7. Non-Bankable" detailed why the grant is needed, this section describes how it is used.

4. Traction

The final parts of the technology side for the EIC Accelerator grant application will address the post-project environment and how the commercialisation will proceed. The traction can be highlighted in this section which includes the pilot customers, validations and Letters of Intent (LOI) (read:  Assessing Traction).

The main takeaway should be an impressive level of traction and interest from related stakeholders which turns the perception of a new and unproven technology into a real-life and strongly desired commercial product.

The commercialisation strategy, partners, value-chain and related factors have to be described convincingly and establish a sense of realism and opportunity.

5. Scaling

Scaling is an important term for the EU since the EIC Accelerator is specifically looking for projects that have the capacity to reach a global scale and become future EU unicorn startups. As such, it should be explained in great detail why such a scale is possible and achievable.

Financials, company growth and the overall future vision should be highlighted here and details on the impact on the environment, industry and the EU should be quantified.

These tips are not only useful for European startups, professional writers, consultants and Small and Medium-Sized Enterprises (SME) but are generally recommended when writing a business plan or investor documents.

Deadlines: Post-Horizon 2020, the EIC Accelerator accepts Step 1 submissions now while the deadlines for the full applications (Step 2) under Horizon Europe are listed below. The Step 1 applications must be submitted weeks in advance of Step 2. The next EIC Accelerator cut-off for Step 2 (full proposal) can be found here. After Brexit, UK companies can still apply to the EIC Accelerator under Horizon Europe albeit with non-dilutive grant applications only - thereby excluding equity-financing. Switzerland has resumed its participation in Horizon Europe and is now eligible for the EIC Accelerator.

Contact: You can reach out to us via this contact form to work with a professional consultant.

AI Grant Writer: ChatEIC is a fully automated EIC Accelerator grant proposal writer: Get it here.

Eureka Network: The Eureka Network delivers various international collaborative R&D initiatives such as Network Projects, Clusters, Eurostars, Globalstars, and Innowwide, providing funding from €50K to €6.75M per project based on the specific initiative. This network emphasizes market-driven innovation and deep-tech advancement across multiple technology sectors including ICT/Digital, Industrial/Manufacturing, Bio/Medical Technologies, Energy/Environment, Quantum, AI, and Circular Economy. Eligible participants include SMEs, large enterprises, research organizations, universities, and startups, with Eurostars particularly focused on R&D-performing SMEs. Get Started

EIC Transition: EIC Transition delivers up to €2.5 million in funding to overcome the 'valley of death' gap between laboratory research and market deployment, emphasizing technology maturation and validation. The initiative supports single legal entities or small consortia of 2-5 partners including SMEs, start-ups, spin-offs, and research organizations. Key technology domains include Health/Medical Technologies, Green/Environmental Innovation, Digital/Microelectronics, Quantum Technologies, and AI/Robotics. Get Started

EIC STEP Scale-Up: EIC STEP Scale-Up delivers significant equity investments of €10-30 million for established deep-tech companies prepared for hyper-growth and large-scale expansion. The initiative targets SMEs or small mid-caps with up to 499 employees who have obtained pre-commitment from qualified investors. Primary focus areas include Digital & Deep Tech (Semiconductors, AI, Quantum), Clean Technologies for Net-Zero objectives, and Biotechnologies. Get Started

EIC Pre-Accelerator: EIC Pre-Accelerator represents a 2025 pilot initiative delivering €300,000-€500,000 in funding for early-stage deep-tech development and preparation for the EIC Accelerator program. This program is exclusively accessible to single SMEs or small mid-caps from 'Widening countries' to foster regional innovation development. The initiative encompasses deep-tech innovations across physical, biological, and digital domains. Get Started

EIC Pathfinder: EIC Pathfinder delivers up to €3 million for Open calls and up to €4 million for Challenge-based calls to support early-stage research and development with proof-of-principle validation. The initiative requires research consortia with a minimum of 3 partners from 3 different countries, including universities, research organizations, and SMEs. Primary technology focus areas include Health/Medical, Quantum Technologies, AI, Environmental/Energy, and Advanced Materials. Get Started

EIC Accelerator: EIC Accelerator delivers flexible funding options including blended finance (€2.5M grant + €0.5M-€10M equity), grant-only (up to €2.5M), or equity-only arrangements for scale-up and market deployment of breakthrough innovations. The initiative targets SMEs, start-ups, and small mid-caps with up to 499 employees, with MedTech/Healthcare representing 35% of funded projects. Additional technology areas include Biopharma, Energy, AI, Quantum, Aerospace, Advanced Materials, and Semiconductors. Get Started

Innovation Partnership: Innovation Partnership enables collaborative innovation between public and private sectors with typical funding of €1-5 million per project. The initiative supports cross-sectoral strategic technologies through public-private partnerships and consortia. Projects concentrate on addressing societal challenges through collaborative innovation approaches. Get Started

Innovation Fund: The EU Innovation Fund delivers substantial funding of €7.5 million to €300 million for large-scale demonstration of innovative low-carbon technologies. The initiative targets clean energy, carbon capture, renewable energy, and energy storage technologies to accelerate the transition to a low-carbon economy. Eligible participants include large companies, consortia, and public entities capable of implementing large-scale demonstration projects. Get Started

Innovate UK: Innovate UK delivers various programs with funding ranging from £25K to £10M depending on the specific initiative, supporting business-led innovation, collaborative R&D, and knowledge transfer. The organization funds projects across all sectors with particular emphasis on emerging technologies and supports UK-based businesses, research organizations, and universities. Programs are designed to drive economic growth through innovation and technology commercialization. Get Started

Industrial Partnership: Industrial Partnership delivers €2-10 million in funding for industrial research and innovation partnerships focusing on manufacturing, industrial technologies, and digital transformation. The initiative supports industrial consortia and research organizations in developing collaborative solutions for industrial challenges. Projects aim to strengthen European industrial competitiveness through strategic partnerships. Get Started

Eurostars: Eurostars represents a joint EU-Eureka initiative delivering €50K-€500K for international R&D collaboration specifically led by SMEs. The program adopts a bottom-up approach, accepting projects from all technology fields without predefined thematic restrictions. R&D-performing SMEs must lead the consortium and demonstrate significant R&D activities. Get Started

LIFE Programme: The LIFE Programme delivers €1-10 million in funding for environmental protection, climate action, and nature conservation projects across the European Union. The initiative supports environmental technologies, climate adaptation strategies, and biodiversity conservation initiatives. Eligible participants include public authorities, private companies, NGOs, and research institutions working on environmental and climate challenges. Get Started

Neotec: Neotec represents a Spanish initiative delivering €250K-€1M in funding for technology-based business creation and development, supporting the growth of innovative Spanish SMEs and start-ups. The program covers all technology sectors and aims to strengthen Spain's technology ecosystem. Funding is specifically targeted at Spanish technology-based SMEs and start-ups to enhance their competitiveness and market presence. Get Started

Thematic Priorities: EU Thematic Priorities encompass various programs aligned with EU strategic priorities including green transition, digital transformation, health, and security initiatives. Funding amounts vary based on the specific program and call requirements, with projects designed to address key European challenges. Applicant eligibility varies by specific program and call, with different requirements for different thematic areas. Get Started

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