The EIC Accelerator is a funding instrument provided by the European Commission and the European Innovation Council to support startups and SMEs in Europe.
đź’°Funding Options
The EIC Accelerator provides grant and equity financing of up to €2.5 million and €15 million, respectively, to DeepTech companies.
🌍Eligibility and Requirements
Applicants from EU-27 countries or countries associated with Horizon Europe are eligible, provided they have reached Technology Readiness Level (TRL) of 5 and can reach TRL8 within 24 months.
🚀Business Acceleration and Application Options
The program offers business acceleration, coaching, networking opportunities, and four different application options: grant-only, grant-first, equity-only, and blended finance.
đź“ť Application Process
The application process involves three steps, including a short application with a pitch deck, a video, and a short proposal for Step 1, a detailed business plan and multiple annexes for Step 2, and an interview with the EIC Jury for Step 3. The application has to be done on a dedicated platform: https://accelerator.eismea.eu/login.
đź“… EIC Work Programme and Budget
The EIC publishes topics annually in the EIC Work Programme, and the budget is split between an "Open" and a "Challenge" Call available on the same cut-off dates.
đź“ŠEvaluation and Feedback
The result of an application includes detailed feedback from evaluators, and at least 3/3 of evaluators must provide a GO for Step 2 applications to be successful.
🤔Should I apply ?
Determining whether or not to apply for the EIC Accelerator can be challenging even for experienced consultancies. While it is possible to make estimations, the evaluation process is highly unpredictable, and various factors, such as unknown variables introduced during the proposal writing process, can make the outcome uncertain.
However, if a company possesses cutting-edge technology, has an exceptional team, a scalable business model, and aligns with EU interests, pursuing the EIC Accelerator funding is likely to be worthwhile.
Below are some general considerations that an ideal EIC Accelerator project should meet: https://www.abbaco.eu/blog/composite-sketch-of-a-winner-of-the-eic-accelerator
You can send us a message here if you have any questions.
Composite sketch of a winner of the EIC Accelerator
The EIC Accelerator blended financing, formerly known as SME Instrument Phase 2, provides grant and equity funding for small and medium-sized enterprises (SMEs) and startups in Europe. The provided funding can reach up to €17.5 million per project, and there are consultants available to help assess the project's chances of success and submit the proposal. Here are five key areas that can make a project stand out and increase its chances of receiving funding.
www.abbaco.eu
EIC Accelerator Interview : Insights and Tips
The EIC Accelerator blended financing, grant and equity financing, offered by the European Innovation Council (EIC) and European Commission, provides a valuable opportunity for non-bankable and disruptive startups to secure government funding. However, the 3-stage application process is highly competitive, and the final stage involves an in-person interview with a jury. To support the preparation of SMEs, this article presents an overview of the types of questions they may encounter during the interview.
www.abbaco.eu
