EIC Accelerator for innovative product development
EIC Accelerator is a part of European Innovation Council (EIC) pilot that supports high-risk and high-potential innovative SMEs and start-ups and helps them to enter the market with their innovative ideas that could drive economic growth. All selected companies could receive either grant or blended funding (grant + equity). Besides funding, EIC Accelerator provides companies with business coaching and mentoring support to scale up their innovative solutions.
Activities funded: Projects with a Technology Readiness Level (TRL) of 6-8 are eligible for grant funding for following activities: advanced prototyping, validation, trials, demonstration and testing in real-world conditions, certification and other related activities intended to help a company prepare for the global scale-up of its innovative solution. Commercialization activities (above TRL 8) can be financed only through blended funding.
Project size: 0.5-2.5 mln EUR (grant only) + up to 15 mln EUR investments (grant + equity)
Funding rate: 70% for grant and 100% for investments
Time to grant: ca 5 months from submission
CRITERIA FOR SUCCESS
Your start-up should be:
- Targeting global market
- With a prototype
- High growth potential
Overview EIC accelerator program specifics are presented in the document below.
OPEN CALLS AND DEADLINES*
- March 2021 – grant only or blended finance
* - at least 25% of applications invited for the interview stage should be SMEs (including start-ups) led by women CEOs