EIC Accelerator: the stages of the application

The EIC Accelerator is the European Innovation Council’s instrument aimed at startups and SMEs with high-risk, high-market-potential innovations. It offers a combination of a grant (up to EUR 2.5 million) and an equity investment (typically between EUR 0.5 and 10 million), the so-called blended finance. It is highly competitive — success rates are in the single digits — and selection takes place in successive stages, each with its own logic. Those who treat the application as a single document to fill in start out at a disadvantage.

Who can apply

The instrument is open to single SMEs (including startups) and, in some cases, to individuals intending to set up an SME. The project must concern an innovation with a strong deep tech or disruptive component, typically at an intermediate technology-readiness level (TRL): the prototype exists and has been validated, but capital is needed to reach the market.

An important point for Swiss companies: access to EU programmes depends on Switzerland’s association status with Horizon Europe, which has changed over time. Before investing weeks in the application, the up-to-date position and any bridging solutions for Swiss entities should be checked.

Stage 1 — Short application

The first stage is a short application, always open, made up of three elements:

• a structured text describing the innovation, market and team (a few pages);
• a video pitch of about ten minutes in which the team introduces itself;
• a pitch deck in a standard format.

It is assessed remotely by several experts. If the project convinces, you move on to the next stage; otherwise you receive feedback and can reapply. It is not a formality: the majority of applications stop here. The message must be crisp — what is new, why now, why this team.

Stage 2 — Full proposal

Having passed stage 1, you gain access to the full proposal, which can only be submitted within windows with fixed deadlines (cut-offs) published during the year. It is an articulated document covering:

• Excellence: the real technological novelty and the degree of risk;
• Impact: the size of the market, the business model, the scaling strategy, the expected return;
• Level of risk and implementation: the work plan, milestones, budget, team and execution capacity.

Here you also define the financial request: how much grant, how much equity, for which activities. The consistency between the technical plan, the market plan and the numbers is what the experts look at most closely. This stage too is assessed remotely by independent evaluators.

Stage 3 — Jury interview

The full proposals that pass the remote assessment are invited to an interview with a jury of investors and entrepreneurs. It is a real pitch: a presentation followed by pressing questions on technology, market, competition, use of funds and the team’s capacity. The jury decides who receives the funding. Many technically valid projects are lost here through insufficient preparation for the oral part: rehearsing the pitch and the answers is an integral part of the work, not a final detail.

After approval

A positive outcome is not the end of the road. It is followed by a phase of due diligence and negotiation, in particular for the equity component, managed by the EIC Fund. The grant part and the investment part have different timelines: the grant is activated more quickly, the equity requires a negotiation that can last months. This must be factored into cash planning.

How to prepare

• Start from the market, not the technology: the assessment rewards impact as much as novelty.
• Take care of the consistency of the numbers: budget, milestones and projections must tell the same story.
• Respect the cut-offs: stage 2 is not always open, it must be planned around the official calendar.
• Rehearse the oral pitch: the jury is the final and most selective hurdle.
• Check Swiss eligibility for the instrument before starting.

How we help you

We help startups and SMEs assess their eligibility for the EIC Accelerator, set up the short application and the full proposal with credible numbers, and prepare the pitch to the jury. We build the case so that technology, market and finance tell a single solid story. Let’s talk about your project.