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Over 1 billion Euro to develop next generation European Defence technologies David García ArrateSettings 2024 Work Programme of the European
The European Commission launches the funding programs of the European Innovation Council (EIC).
The most interesting program for SMEs is undoubtedly the Accelerator, since it is the first financing instrument that combines the already existing non-refundable grants (up to €2.5 M in the form of “Grants”), with the access to venture capital for a value of up to €15 M (“Equity”) for commercial activities and industrial scaling of the product internationally.
The purpose of the EIC Accelerator is to promote rapid international scaling of companies that are developing radically new products close to the market, that is, with a validated prototype (TRL 6). The projects must have, due to their unconventional nature, a high level of risk that prevents the company from raising the necessary capital to grow and be competitive in the short or medium term.
The EIC Accelerator aims to sponsor not only radically new ideas close to a market that, due to their unconventional nature, are not found in Europe by private investors, but also companies led by women.
The EIC Accelerator Program (formerly SME Instrument) is part of the European Innovation Council (EIC) funding programs and supports renowned innovators, entrepreneurs, small businesses and scientists with funding opportunities and services for the acceleration.
The program is committed to SMEs and innovators that combine high risk and high potential, to help them develop and access the market for new innovative products, services and business models that can act as the axis of economic growth.
The chosen companies receive financing and optionally access to private investment, in addition they are offered personalized guidance and supervision services for the scaling of their innovative idea together with additional acceleration services that facilitate access to investors, corporations and entrepreneurs with interests common.
Key ingredients to win the accelerator
- Deep-tech and highly innovative technology, with a high potential to generate growth in the company
- High-risk innovations that cannot raise the private investment or credit needed to accelerate industrial and commercial expansion internationally
- Convincing business plan: clear schedule complemented by a strong team and financial data
- Wider impacts: the commercialization of innovation will have social, economic, environmental or climate impacts, at least for Europe.
EIC WORK PROGRAMME FOR 2024
The European Innovation Council (EIC) has officially launched and adopted its long-awaited work programme for 2024, detailing strategic objectives, key performance indicators and funding schemes aimed at fostering the development of innovative technologies as well as supporting disruptive companies.
Name | Opening date | Next deadline | Deadline model | Link |
EIC ACCELERATOR 2024 | 01/01/2024 | 13/03/2024 03/10/2024 | Double-stage |
Scope: Europe
Budget: 1,700,000,000,000 €
Organism: European comission
Aim of the project: Enterprise Development, R&D
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OUR METHODOLOGY
Evaluation
Proposal Creation and Development
Interview Preparation
Project Management Assistance
Evaluation
Prior to making an offer, we invest significant resources in evaluating your readiness to succeed by examining your business plan and your available documentation.
Proposal Creation and Development
Once we work with a client, we lead the development of the proposal, requesting you to submit clarifications and additional material.
Interview Preparation
When invited to pitch in front of the jury, we will assist you with coaching.
Project Management Assistance
Once the project is secured, we will offer our assistance in the administration process leading to the signature of the contract.
In addition, as a separate service, we can help you in the management of the grant – specifically by drafting the ‘formal’ periodic project reports
BENEFICIARY
- Single-beneficiary format.
- Exclusively SMEs under the status according to EU criteria recommendation 2003/361.
TYPE AND AMOUNT OF FINANCING
Financing of up to 17 million euros:
Non-refundable aid, grant, up to €2.5 MILLION (grant)
Financing in Capital Investment concept up to €15 MILLION (equity)
FINANCIAL EXPENSES
All expenses directly related to activities such as trials, prototyping, validation, demonstration and testing in real conditions (TRL6 to TRL8).
The budget categories include, in addition to personnel expenses, travel, consumables, amortization of equipment, contracting of services, indirect costs are included (calculated as 25% of the rest of the costs, except subcontracting). The intensity of non-reimbursable aid will be 70% of the approved and justified budget.
The costs derived from the market access activities (TRL9) will be covered through Private Investment.
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