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Grant Analysis

Purpose & Target

Core objective: To develop and scale up breakthrough, market-creating or market-disrupting innovations (TRL 6-8) with high-risk, high-impact potential, fostering a patient capital approach.
Target recipients: Primarily start-ups and SMEs, also individuals intending to launch an SME, and small mid-caps (eligible for equity funding only).
SECTOR-AGNOSTIC for the 'Open' calls, with 'Challenge' calls targeting specific sectors.
Geographic scope: EU Member States and countries associated with the Horizon Europe programme.
Key filtering criteria: Applicant must possess an innovative, game-changing product, service, or business model; demonstrate ambition and commitment to scale; and require substantial funding where private investor risk is high.
Grant frequency: Calls are recurring, but the 'grant-only' component can be received by a beneficiary only once during the Horizon Europe programme (2021-2027).

Financial Structure

Grant component: A lump sum contribution below €2.5 million, specifically for innovation activities at TRL 6-8. This component is designed to be completed within 24 months.
Investment component: Ranges from €0.5 million to €10 million. Higher amounts may be available through the STEP ScaleUP initiative.
Blended finance: Consists of both a grant component and a direct equity or quasi-equity investment (e.g., convertible loans).
Grant-only option: Available for start-ups and SMEs that possess the capacity to scale up. This specific grant scheme can be accessed only once during the Horizon Europe programme (2021-2027).
Investment-only option: Provided for small mid-caps and companies that have previously received a 'grant only'.
Eligible costs: Innovation activities (TRL 6-8) are covered by the grant. Due diligence costs related to the investment component are also considered.
Financial reporting: Required as per the terms of the Grant Agreement and investment negotiation process.
Pre-financing payment: The first pre-financing payment is disbursed upon the signing of the Grant Agreement.
Investment negotiation: For blended finance, there is flexibility to negotiate an additional raise of up to €2 million in investment.
Investment decision timeline: The investment component decision is typically made within 2-6 months, following a thorough due diligence process. If a company is deemed not yet mature for the investment part, the grant component may proceed, with the investment case being re-examined at later, defined milestones.

Eligibility Requirements

Eligible Organization Types

Start-up: Defined as an innovative company, typically early-stage.
SME (Small and Medium-sized Enterprise): Not explicitly defined within the text, but refers to EU standard definitions for SMEs.
Individual: Natural persons or legal entities willing to set up an SME.
Small Mid-caps: Organizations with up to 499 employees. These are eligible for the investment component only.

Geographic and Relocation Requirements

Applicants must be from EU Member States or countries associated with the Horizon Europe programme.
Applicants from third countries: May apply if they commit to relocating their company to an eligible country before submitting the full application (Step 2).
United Kingdom applicants: Can only apply for the 'grant only' scheme.

Project Stage Requirements

Innovation activities: Must be at Technology Readiness Level (TRL) 6 to 8.
Small mid-caps: The project must involve rapid scale-up of TRL 9 activity.

Application Limitations

Concurrent applications: Only one application to the EIC Accelerator can be active at a time. New applications are permitted only after receiving the results of a previous submission.

Application Process

Application Process Overview

The application journey comprises four distinct steps:
1. Submission of a short proposal.
2. Preparation and submission of a full proposal.
3. A face-to-face interview with the EIC Jury.
4. Negotiation of the grant component and due diligence for the investment component.

Step 1: Short Proposal Submission

Submission Window: Proposals can be submitted at any time.
Evaluation Process: Remote evaluation conducted by EIC expert evaluators on a first-come, first-served basis.
Feedback Timeline: Applicants typically receive feedback within approximately 4-6 weeks.
Required Materials:
- A concise short form summarizing the innovation, market potential, and team composition.
- A pitch-deck (up to ten slides) in PDF format.
- A video pitch (up to three minutes) featuring core team members.
Outcome: Successful short proposals receive a 'GO' and are invited to prepare a full proposal.

Step 2: Full Proposal Submission

Submission Deadlines: Full proposals must be submitted by periodic cut-off dates for either Accelerator Open or Accelerator Challenge funding (e.g., March 12, October 1 for 2025-2026).
Evaluation Process: Remote assessment by three EIC expert evaluators.
Result Timeline: Results are typically provided within 8-9 weeks.
Required Materials:
- A comprehensive full business plan.
- A pitch deck in PDF format.
- A 3-minute video pitch.
Outcome: Successful full proposals ('GO') lead to an invitation for an interview.

Step 3: Pitch your Innovation

Interview Scheduling: Interviews with the EIC jury usually take place 4–5 weeks after the announcement of Step 2 results.
Interview Format: The specific format will be determined closer to the date (e.g., for March 12 cut-off, interviews June 2-6, 2025; for October 1 cut-off, interviews January 19-23, 2026).
Result Timeline: Interview results are provided within 2–3 weeks.

Step 4: Negotiation and Due Diligence

Grant-only path: Upon successful selection, the Grant Agreement is signed, and the first pre-financing payment is received.
Blended finance path: Project details are shared with the EIC Fund for investment assessment. Business Acceleration Services (BAS) provide support in finding additional investors. The final investment decision is made within 2-6 months. If due diligence indicates the company is not yet mature for investment, the grant component may proceed, with re-evaluation of the investment at defined milestones.

Expedited Schemes

Fast Track scheme: Allows proposals resulting from existing Horizon Europe or Horizon 2020 projects to submit directly to the full application stage (Step 2).
Plug-In scheme: Similar to Fast Track, but applies to proposals from existing national or regional programmes certified by the EIC.

Available Support for Applicants

Business Acceleration Services (BAS): Comprehensive support including coaching, mentoring, access to global partners, and networking within the innovation ecosystem.
Coaching: Applicants who successfully pass Step 1 (short proposal) are eligible for 3 days of remote coaching to assist with full proposal preparation.
National Contact Points (NCPs): Provide guidance, practical information, and assistance on all aspects of Horizon Europe participation.
Frequently Asked Questions (FAQs): An online resource addressing common queries about funding, eligibility, and proposal submission.

Evaluation Criteria

The evaluation process is structured in multiple, progressive steps: Step 1: Short Proposal Evaluation (Remote)

Focus: Assessment of the innovation's novelty, market potential, and the quality of the team.

Step 2: Full Proposal Evaluation (Remote)

Assessment: Conducted by three EIC expert evaluators.
Criteria: Evaluation is based on a comprehensive business plan, a pitch deck, and a 3-minute video pitch.

Step 3: Interview with EIC Jury (Face-to-face)

Focus: Pitching the innovation and overall performance during the interview with the EIC jury.

Seal of Excellence

Awarded to: Project proposals from start-ups and SMEs that are assessed as excellent by independent experts and the EIC juries, meeting all selection criteria, but are not funded solely due to budget limitations.
Purpose: Serves as a quality label to help secure alternative funding sources.

Special Considerations

EIC Accelerator Challenges: Proposals must directly address and align with pre-defined thematic topics (e.g., advanced materials, biotechnology for food/feed, Generative AI, in-space servicing, future mobility).
EIC Accelerator Open: This pathway welcomes proposals in any field of technology, offering broad applicability.
Diversity and Inclusion: The EIC explicitly encourages and welcomes applications from start-ups and SMEs led by female CEOs.

Compliance & Special Requirements

Regulatory Compliance

Projects must adhere to all relevant EU and Horizon Europe regulatory frameworks.
Compliance with data protection and privacy regulations, consistent with EU standards, is implicitly required.

Intellectual Property (IP)

Emphasis is placed on the importance of IP due diligence for the success of SMEs, suggesting that robust IP strategies and compliance will be key during evaluation and implementation.

Risk Management

The EIC Accelerator targets 'high-risk innovation', indicating a programmatic acceptance of higher risk profiles compared to traditional funding sources.
A specific risk mitigation mechanism is in place for blended finance: if a company is deemed not mature enough for the investment component after due diligence, the grant component can still commence, with the investment potential re-evaluated at later, agreed milestones.

Ethical Standards

While not explicitly detailed, adherence to general EU ethical guidelines for research and innovation is expected.

Unique Aspects and Strategic Opportunities

Patient Capital Principle: The grant operates on a patient capital basis, supporting long-term, potentially market-disrupting innovations.
Dual Approach (Challenges & Open): Applicants can either address specific, pre-defined EIC Accelerator Challenges in strategic areas or apply through the EIC Accelerator Open call, which is open to any field of technology.
Seal of Excellence: A significant quality label awarded to excellent proposals that are not funded due to budget limitations, providing a strong signal to other potential investors.
Comprehensive Business Acceleration Services (BAS): Beyond direct funding, beneficiaries gain access to extensive non-financial support, including coaching, mentoring, access to investors, corporates, and international markets, crucial for scaling.
International Inclusivity with Conditions: The option for third-country companies to relocate provides a pathway for global innovation to benefit the EU ecosystem.
Gender Equality Focus: The EIC actively encourages applications from start-ups and SMEs with female CEOs, promoting diversity in innovation leadership.

Grant Details