EUROPEAN INNOVATION COUNCIL: NEW CHANGES UNDER HORIZON EUROPE
European Innovation Council (EIC) is a program that supports high-risk and high-potential innovative SMEs and start-ups and helps them to enter the market with innovative ideas that could drive economic growth. All selected companies could receive either grant blended funding (grant + investment) or an investment. Besides funding, EIC Accelerator provides companies with business coaching and mentoring support to scale up their innovative solutions.
WHAT IS NEW?
EIC offers a range of complementary funding through the “EIC Pathfinder” (Novel ideas for radically new technologies), “EIC Transition Activities” (transformation of research results into innovation), and “EIC Accelerator” (deployment of innovation to market) programs.
Support for “priority topics”
EIC wishes to strengthen its support for priority topics for the future of Europe. Thus, calls for “EIC Accelerator Challenges” projects will also be published to fund breakthrough innovations, particularly in the fields of digital, health and the EU Green Deal.
A limited number of resubmissions and support for SMEs
EIC will set up a 12-month latency period following the submission of 2 consecutive proposals to the EIC Accelerator. Coaching services will be offered during the project selection process in order to help SMEs find the most appropriate funding and improve the follow-up of the submitted proposal.
The new 3-step project selection process
1. Pre-screening stage: short application
- A 5-page form with questions regarding the innovation, the potential market and the team;
- A pitch deck of up to 10 slides;
- A video pitch of up to 3 minutes;
2. Full application
- A full business plan
- Detailed information regarding the company’s finances and structure.
3. Interview stage
EIC ACCELERATOR: Activities for developing your business concept further into a market-ready product, service, or process
EIC TRANSITION: Validation of novel technology in the lab and in some relevant application environments, business modeling towards the innovation’s future commercialization
EIC PATHFINDER: Validation of the scientific bases and achieve proof of principle that the main ideas of the envisioned future technology are feasible
Project size: 0.5-2.5 mln EUR (grant only) + up to 17.5 mln EUR investments (grant + equity)
Funding rate: 70% for grant and 100% for investments
Time to grant: ca 5 months from submission
Summary of main calls in 2021*
*This table provides a simplified overview. All applicants need to read the relevant sections for the full information on eligibility and conditions for funding. The Director-General responsible for the call may decide to open the call up to one month prior to or after the envisaged date(s) of opening. The Director-General responsible may delay the deadline(s) by up to two months.
- EIC PATHFINDER – 27.10.2021
- EIC TRANSITION – 22.09.2021
- EIC ACCELERATOR – 06.10.2021
* - The companies invited to the face to face interviews with the EIC Accelerator juries will be selected on the basis of excellence while aiming at having 40% with female CEOs
Overview EIC Accelerator program specifics are presented in the document below.