The European Commission has listened to the feedback from applicant companies, expert evaluators, consultants, investors, and various stakeholders regarding the EIC AI platform’s excessive complexity.
New format for EIC Accelerator application
The newly introduced format of the EIC Accelerator application is a simple pdf file of up to 50 pages, to be submitted via the EU Funding and Tender portal. In contrast to the former AI platform, it allows more flexibility for storytelling and editing. This offers a valuable opportunity for companies to present an authentic business case, which can be better tailored to the respective business sector and prove more useful beyond the EIC Accelerator application, e.g., in discussions with potential investors.
The application consists of two major sections:
- The business case: This section follows a simplified structure comprising key elements such as the company overview, problem statement, proposed solution, market analysis, commercial plan, team details, risk assessment, and financial plan.
- EIC Accelerator-specific information: This section focuses on the implementation strategy, funding request, and expected impact of the project.
In addition to the sections mentioned above, the submission also requires two excel files:
- Financial Information and Budget: This file encompasses the traditional profit and loss statement, presented in the ‘Annex 4’ format. Furthermore, it necessitates a more detailed breakdown of costs and investments in a separate sheet. Finally, the project budget itself, specifically for the grant portion, should adhere to the standardized Horizon Europe format.
- Mandatory Data and Consent: This file contains the information typically included in Part A of Horizon Europe applications, along with a concise summary of the requested grant and equity details.
The new structure promises a more streamlined application process with room for creativity and effective storytelling. Do you need help structuring your application? Feel free to reach out to us! Or read our top five tips for making a successful EIC Accelerator application.