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.

The commercial strategy is of utmost importance during the EIC Accelerator interview. Without a solid plan to reach customers and generate revenue, even the most innovative idea becomes meaningless. It is crucial to demonstrate that your strategy is well thought out, validated through strong partnerships, and supported by relevant metrics. Additionally, highlight how you have addressed competitive threats and barriers in the market, ensuring efficient and rapid market penetration. Be prepared to discuss the customer journey, time-to-contract, distribution networks, key performance indicators (KPIs), and short- and mid-term market drivers.

Behind every successful commercial plan or technological roadmap, there is a competent and motivated team. Showcase the experience and expertise of your founding members and management team who play crucial roles within your company. Explain why your team is uniquely positioned to meet the market needs and drive technological advancements. Emphasize the backgrounds and track records of your team members to establish credibility and reinforce your authority.

Innovation arises from addressing customer pain points that competitors have not successfully met. Clearly explain the difficulty and feasibility of your proposed project, striking a balance between it being neither too easy nor too challenging. Justify your perspectives by providing a realistic and actionable roadmap to exploit the business opportunity. By demonstrating a deep understanding of the technological aspects and outlining your plan to overcome challenges, you instill confidence in the jury regarding the feasibility of your innovation.

The potential commercial impact of your project upon successful completion will greatly influence the jury's decision. Focus on two key aspects: financial impact and transformative impact in the European Union. Provide comprehensive analyses of expected revenues, customer acquisition, asset growth, and other financial metrics. Additionally, highlight the broader societal, energy, or health benefits that your project can deliver. Demonstrate a thorough understanding of the market landscape and articulate how your project aligns with long-term goals and future projections, including valuation and branding.

Given the intense competition in the EIC Accelerator, the market-creating, disrupting, and transforming potential of your project holds significant weight in the evaluation process. Clearly communicate how your approach achieves these objectives, emphasizing the opportunities it creates and the measures taken to mitigate potential threats. Highlight the unique value proposition of your project and its potential to reshape the market landscape.

During the post-pitch discussion, the jury will evaluate the capability and motivation of your team to implement the proposed innovation and bring it to market. They will assess whether your company faces challenges in attracting sufficient investments due to financial risks or existing market failures. For blended finance requests, the market's perception of your company's bankability and the feasibility of the activities you plan to undertake will also be considered.

In the post-pitch discussion, the jury will scrutinize the business model and commercialization strategy outlined in your presentation. They will evaluate the soundness of your financial planning and projections, considering the potential for scaling up your innovation and whether you have accurately quantified the financial needs required for your company's success.

The excellence of your innovation is a critical criterion for the jury's evaluation. They will assess whether your project has the potential to create a new market or significantly impact existing ones through its level of novelty or disruptiveness. Timing is also crucial, so they will consider the feasibility and market readiness of your innovation.

Companies may face challenges during the pitch interview and fail to secure funding. Based on past data, the following areas have been identified as common reasons for failure:

Preparing for an EIC Accelerator interview requires careful consideration of the areas of questioning, post-pitch discussion criteria, and potential pitfalls that companies may encounter. By addressing these aspects effectively, you can increase your chances of securing funding and propel your startup towards success in the competitive landscape of innovation and entrepreneurship.

You know what to expect during the interview, now look how to prepare it.

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