Highly ambitious SMEs and start-ups looking to develop, bring to market and scale innovative products, services or business models with a large impact at European level. Examples of activities that will be supported are product/service development, trials, prototyping, validation, demonstration and testing in real-world conditions, and market replication.
Depending on the Technology Readiness Level (TRL) of your envisioned innovation and activities, the support can be:
- A grant amount between €0,5 – €2,5 million covering 70% of the project budget for TRL 5 to TRL 8.
- Blended finance composed of a grant amount between €0,5 – €2,5 million and equity of up to €15 million for projects including activities above TRL 8.
Changes and opportunities for 2021
An impressive € 9.7 billion has been budgeted to the European Innovation Council for the 2021-2027 programme, part of which will go to the EIC Accelerator instrument. A new approach will be published soon and although we are still awaiting a formal announcement, a revamped application process with two significant changes is expected (subject to further modifications):
- the addition of a continuously open pre-application step – requiring a short description (up to 5 pages) covering the innovation, the potential market and the team, a pitch deck and a video pitch – with short evaluation times (up to 4 weeks) preceding the full proposal step;
- estrictions on the number of resubmissions allowed both for the pre-application step as well as the full proposal step. If unsuccessful during one of these steps, applicants will be allowed to resubmit only once before entering a 24-month cooling off period.
The large funding amounts and the adapted efficient evaluation procedure present a great opportunity to further develop and scale your high-risk, high impact innovations. Our experts can determine how this applies to your organisation.