The European Commission has launched the European Innovation Council (EIC) Accelerator targeting deeptech innovations in various industries including healthcare, which can be awarded up to €2.5M of grants and €15M to a single company.
As an EIC Accelerator client, you will gain visibility and boost your chances of success in European and international markets. Selected companies receive funding and optional equity and are offered business coaching and mentoring to scale up their innovation idea. They get extra acceleration services to connect with investors, corporates and likeminded entrepreneurs.
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. If the activity concerns a primarily technological innovation, a Technology Readiness Level (TRL) of 6-8 is envisaged for projects requesting grants only. 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.
Applicants will be asked to indicate if they want blended finance and the amount requested for equity. The maximum of investment in the form of equity is € 15 million.
Companies that apply must be established in an EU Member State or a Horizon 2020 associated country. Large corporates, research centers or scientists cannot apply directly but they can participate in projects as subcontractors or third parties and don’t need to be established in an EU Member State or associated country.
- Prototype already at TRL6
- Seed funding raised
- Early (pre-clinical) validation