Funding opportunies with EIC Accelerator provide a great source of support for innovative European companies. The EIC Accelerator is a pilot project under the European Innovation Council. It aims to drive growth by funding risky, promising startups and small firms. It offers funding to support innovators, entrepreneurs, SMEs as well as high-level scientists developing breakthrough technologies and deep tech innovations. The EIC Accelerator offers opportunity. It includes funds as well as services to help risky, promising SMEs. The goal is developing and marketing new products, services, and business models.
The current pilot project is still valid until the 7th of October 2020. For innovators who intend to submit their EIC Proposal after the end of this year, reference will be made accordingly to the new programme.
What is the EIC Accelerator as well as its benefits for candidates
In the official definition, the EIC Accelerator is described as follows:
“EIC Accelerator helps you develop your business concept further into a market-ready product, service or process aligned with your company’s growth strategy. Activities could, for example, include trials, prototyping, validation, demonstration and testing in real-world conditions, and market replication. [..] Projects will receive between € 0.5 and € 2.5 million in the form of grants. They can request a higher or lower amount when applying but it needs to be duly justified. Projects should normally take 12 to 24 months to complete, but could be longer in exceptional and well-justified cases.”
Overall, this occasion is dedicated to all candidates with radically new ideas, supported by a business plan for the implementation of marketable innovation solutions and with the ambition to expand.
Candidates, such as for-profit small and medium enterprises, whether young or start-ups in any sector, receive funding and optional actions, as well as business coaching and mentoring.
The EIC Accelerator offers other services. These include networking firms with investors, large companies, as well as other SME clients through partnerships. These happen through specific events and through the online EIC community.
Not only that, once company becomes a client of EIC Accelerator, benefits such as visibility as well as chances of success in European together with International markets are already included in the package.
Year 2020: investments are innovation-driven
As with any crisis, even in this unforgettable 2020 with the current Covid-19 emergency, investment seems to be taking the same direction: innovative projects that can play a revolutionary role in the European area.
We prepare for a new future accordingly. It will be digital, sustainable and human-centered. This work considers the current context while the EIC’s new 2021-2027 program shapes the vision.
The new EIC programme funded under Horizon 2020, and soon Horizon Europe, will enter a new era in which the investor of choice for visionary ideas, pioneering a new European approach to support relevant innovations in a responsible and inclusive way.
New EIC funding is planned for 2021-2027. It may get €30-50 billion from private markets. This could radically change tech investment and company growth across Europe.
Stay tuned to find out more about the continuing funding opportunities to drive economic growth in the new EIC 2021-2027 programme.
At AFS, we are passionate about fostering innovation and empowering ambitious minds to flourish. Our mission is to provide best-in-class financial services for traditional and crypto deals, exploit European grants, and use quantitative methods to improve clients’ performance. We aim to help our customers unlock their full business potential.
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