EIC Pre-accelerator - Widening

Call Description

Expected Outcome: This call will increase the innovation potential of deep-tech startups in the Widening countries and enable them to better attract private investments and scale up. It will further strengthen the innovation dimension of the widening component and increase the overall competitiveness of these countries. The specific outcome expected of this action is increased business, investor, and technology readiness of high potential deep-tech startups in Widening countries to a level where they will: • be successful in applying and attracting the EIC Accelerator funding and/or; • manage to secure other private investment and/or; • attract successfully national or regional funding as alternative funding sources (e.g. through Seal of Excellence programmes). Scope: This action focuses on early-stage deep-tech startups which 1) have high-impact innovation technology, product, service, or business model that could create new markets or disrupt existing ones, and 2) have the ambition and commitments to scale up. The successful applicants need to work on deep tech innovation. Such companies often struggle to attract financing because the technology and investment risks are too high. In the framework of this call, deep-tech is technology that is based on cutting-edge scientific advances and discoveries and is characterised by the need to stay at the technological forefront by constant interaction with new ideas and results from the lab. Deep-tech innovations are understood to be those that have the potential to deliver transformative solutions, rooted in cutting-edge science, technology, and engineering, including innovation that combines advances in the physical, biological and digital spheres. Deep-tech is distinct from ‘high-tech’ which tends to refer only to R&D intensity. This EIC Pre-accelerator - Widening call is designed to enable promising deep-tech startups to develop further their innovations (from TRL 4 to TRL 5/6), attract the investment amounts needed for scale up in a shorter timeframe and successfully apply and attract funding from EIC Accelerator or other sources. The applicants are expected to demonstrate in their application that they: • have completed all elements of TRL 3 (Experimental proof of concept) and therefore the technology is currently at TRL 4 (Technology validated in lab); • possess the necessary Intellectual Property Rights to ensure freedom to operate and adequate protection of the idea; • have a clear vision on the intended pathway and route to market. This includes specific milestones together with concrete and verifiable KPIs to assess progress towards the market. The support will be in awarded by grants max at 70% funding of the eligible costs. 30% co-funding to be covered by the beneficiary through its own resources. An amount between EUR 500.000 and max EUR 1.000.000 in the form of a lump sum for a period of up to 2 years is considered appropriate. The requested grant is expected to be used for: • addressing the investor and market readiness towards commercialisation and deployment (market research, value proposition, business case and business model, prospects for growth, intellectual property protection, competitor analysis etc.) and if relevant, aspects of regulation, certification and standardisation, aimed at getting both the technology and the business idea investment ready and/or; • the maturation and validation of novel technologies beyond proof of concept to viable demonstrators of the technology in the intended field of application (i.e., from minimum TRL 4 up to TRL 6). At the end of the EIC Pre-accelerator project, it needs to: • demonstrate that the technology component of their innovation has at least been validated in a relevant environment (e.g. at least completed all aspects of TRL 5); • be ready to apply for EIC Accelerator and/or to seek other investors or sources of funding, to enter licensing or collaboration agreements with third parties, or other routes to market deployment. Successful applicants and those awarded the Seal of Excellence will be granted free access to the EIC Business Acceleration Services, such as coaching and specific events tailored to their needs (e.g. for improving investor and market readiness). This will be complemented by access to the EIC Accelerator Fast Track for submissions to the Accelerator programme following a project review in the second half of the project.