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There is a new update on the information available on the EIC Accelerator in the article European Innovation Council official launching: EIC Accelerator 2021, check it out!

The EIC Accelerator is a large and highly competitive funding programme for deep-tech start-ups in Europe. The programme is running a pilot phase since June 2019, and the last call of the EIC Accelerator pilot programme took place on the last 7th of October 2020

Thus, even though there is little official information out about what the EIC Accelerator programme will look like in the future, it is expected that significant changes and updates will happen linked to the launching of the next EU Framework Programme (Horizon Europe) expected by early 2021.

Analysis of the results and development of the pilot programme so far have shown certain issues to think about. For example, a success rate around 1 %  (In October 2020, 4,200 proposals requesting over €15 billion were received, highest ever for the EIC Accelerator Pilot) or the high number of proposals resubmitted. Questions now are:

How important is the luck factor to secure funding?

Will the expected programme updates help European deep-tech champions bring to the market their innovations?

Main highlights of the new EIC Accelerator programme

The EIC Accelerator (previously SME Instrument) is part of the European Innovation Council (EIC) pilot of the EU Commission. Its main characteristics are:

  1. Who is it for? The EIC Accelerator is designed for high-risk, high-potential small and medium-sized enterprises, mid-capitalisation companies and innovators with projects of a Technology Readiness Level (TRL) of 6-8. Applicants must also be established in an EU Member State or a Horizon 2020 associated country.
  2. What type of funding is available? 5 and € 2.5 million in the form of grants or an optional investment in equity in addition to the grant, to single for-profit SMEs (max. € 15 million).
  3. How long should funded projects be? 12 to 24 months long.
  4. 2019-2020 programme overall budget: more than €1.3 billion

Changes in the new EIC Accelerator

Main characteristics of the call seem to be maintained (such as target companies, funding rates, or project duration), however, information so far suggests relevant updates on the proposal preparation, submission, and evaluation part of the proposal.

Submission & application process

First, the current draft of EIC Accelerator proposes radical changes to the submission process under Horizon Europe

  1. On the one hand, it envisions a totally new application process with a pre-screening stage (which would include a short application and a video), a regular written stage (full application) and an interview stage (pitch).
  2. On the other hand, to submit the full application, companies will be supported by an Artificial Intelligence platform and a series of 3-days coaching sessions.

Evaluation

Second, the scoring scale of submitted proposals was until now a mark from 0 to 15. This system will be replaced with a simpler “go / no go” approach. Besides, all applicants will receive feedback on their proposals.

An issue that is still unclear is how proposals with a “GO” mark will be ranked in case there are more “GO” than places in the interviews.

Re-submissions

Third, only two submissions are allowed at each stage before a 24-month cooling-off period. The process will offer a “second evaluation” opportunity at two moments: during the remote evaluation and during the interview. This is expected to overcome one of the main drawbacks that suffered the EIC Accelerator Pilot which was oversubscription of re-submitted proposals.

The infographic bellow presents the new evaluation and re-submission process, click on it to make it bigger!

To sum up

Horizon Europe and the fully-fledged version of the EIC Accelerator are coming closer. That said, there are still points of uncertainty for all parties interested in taking part in the funding scheme. We now know more about the submission, application, and evaluation processes, but there is still no official confirmation on details nor on deadlines for 2021.

In general, the fully-fledged EIC Accelerator Programme seeks to support a simpler application process and offer improved funding. Nevertheless, it is still to be seen the effectiveness of changes as the ones above to help high-quality proposals secure funding and reduce the impact of luck over the selection process.

We will update this post with any updates on the EIC Accelerator Programme for 2021. Follow us in our social media channels (bellow) and get in touch if you have any questions!

Innovarum Team

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