Horizon 2020: EIC Accelerator
Receive subsidies and equity as an SME entrepreneur for groundbreaking scale-up concepts with international motivation.
What is the EIC Accelerator SME tool?
Another program supported by Horizon 2020 is the EIC Accelerator SME tool. The EIC Accelerator was formerly known as the SME instrument. This program supports innovative SMEs to scale up a new product, service or process on the international market. If you are an internationally oriented entrepreneur at an innovative company with the ambition to grow, you can probably use the EIC Accelerator of Horizon 2020.
As an SME entrepreneur, you can also apply for equity with the EIC program. There are four cut-off dates set in 2020, but you can submit applications throughout the year. An application will be assessed on the degree of impact, excellence, and implementation of the project and team. To find out more about the program of Horizon 2020: EIC Accelerator you can find the details below.
Budget Horizon 2020: EIC Accelerator
A total budget of €1.5 billion has been set for the period 2018 to 2020. In addition to a subsidy, it is also possible to apply for equity as an SME entrepreneur since 9 October 2019. This choice has been made to scale up international innovation.
The subsidy per EIC project has a minimum of €500,000 to a maximum of €2,500,000 and a percentage of 70% of the eligible costs. The duration of an EIC Accelerator project is between 12 and 24 months. The equity to be received is between €500,000 and €15,000,000 with a share amount between 10% and 25%.
Writing an application for the EIC program can take a lot of time. To alleviate this burden and to have more certainty of receiving a grant, you can apply for a consultancy. MK has years of experience and knowledge about subsidies and will be happy to help you.
SME instrument EIC Accelerator conditions
There are four cut-off dates per year for the EIC program of Horizon 2020. An SME entrepreneur may submit a project proposal for each closing date. This application is submitted on an individual basis. Other types of organizations cannot submit an application on their own, this must be done via subcontracting. An application will be assessed on the basis of 3 points:
Impact – A strong business case with significant socio-economic value creation
Excellence – Concepts that are groundbreaking, creating new markets or disrupting existing ones ‘Beyond the current state-of-the-art in its field’.
Implementation – The Team Potential to Achieve Goals
Tips request EIC Accelerator
The subsidy and equity are distributed at EIC Accelerator to high-risk scale-ups that want to scale up. This is when entrepreneurs want to bring a new service, product or process to the European and/or global market. SME entrepreneurs who have a groundbreaking concept have a greater chance of receiving a subsidy.
You can apply via the participant portal (The Funding and Tenders Portal) of the European Commission. Make sure you have created an ECAS account in advance via the same portal to submit an application. The guideline and application form can be found on the participants’ portal. You can submit a project application all year round because the EIC Accelerator works with a continuously open call. The four closing dates of 2020 are striking:
8 January 2020
18 March 2020
7 October 2020
19 May 2020