What You Need To Know: EIC Accelerator Grant

The EIC Accelerator grant, part of the European Innovation Council’s Horizon Europe funding framework, is a significant funding mechanism for startups and SMEs that focuses on driving deep-tech innovation and breakthrough solutions.

Companies can apply for a grant component of up to €2.5 million and an investment component of between €500,000 and €10 million.

Its support for high-risk, high-impact innovation makes it one of the few funding tools for early-stage innovators, where projects may still be too risky for private investment.

What is the EIC Accelerator?

The EIC Accelerator programme supports companies developing and scaling up innovations with the potential to create or disrupt markets. The nature of the programme is to support high risk innovations which have the opportunity to impact society positively.

The EIC Accelerator targets early-stage SMEs, including startups and spinouts who need funding for innovation activities (Technology Readiness Level, or TRL 6-8).

Companies can apply for “grant only” (of up to €2.5 million) or “blended finance”, which includes an equity investment of up to €10 million. The funding supports up to 24 months of activity. Successful applicants will also get access to coaching, mentoring and Business Acceleration Services. The EIC Accelerator funds up to 70% of the project’s budget; the beneficiary must finance the other 30%.

The application consists of three steps which must be accepted in succession: a short proposal, a long proposal and a face-to-face interview with the EIC jury.

Eligibility Criteria

As a European funding mechanism, the EIC Accelerator is open to applications from EU member states and countries associated with the programme (such as Norway, Iceland and the UK).

Applicants can be a single company, from startups to small mid-caps (up to 499 employees). Small mid-caps can only apply for investment. Natural persons or other legal entities can apply with the intention to set up an SME. The EIC Accelerator particularly welcomes applications from eligible companies with female CEOs.

Companies must demonstrate that their projects are at TRL 6-8 and need the funding to get to a commercialisation point for blended finance. TRL 6 means that proof of concept has been validated in a relevant environment; university spinouts are common applicants for this reason.   Applicants should have a functioning prototype or a validated proof of concept, as well as clear commercial potential, but still require funding to capitalise on this market application.

Companies at TRL 9 or already at commercialisation can apply for grant-only or equity-only funding to enable scaling.

Applicants may submit only one application to the EIC Accelerator at a time. If a legal entity submits the same or an improved proposal to the EIC Accelerator (either Challenges or Open call) and it is rejected three times at any stage—short proposal, full proposal, or interview—it will no longer be eligible to apply to the EIC Accelerator under the Horizon Europe Framework Programme, which runs through the end of 2027.

Types of projects

The EIC Accelerator prioritises innovations that address critical societal challenges, including:

• Climate and energy transitions: Supporting green technologies and sustainable solutions aligned with the European Green Deal.
• Health and biotechnology: Driving advancements in medical technologies, pharmaceuticals, and digital health.
• Digital transformation: Accelerating developments in AI, quantum computing, robotics, and cybersecurity.

Each year, the EIC will release specific challenges and welcomes applications that address them. For 2025, the EIC is seeking solutions for the following challenges:

• Acceleration of advanced materials development and upscaling along the value chain
• Biotechnology driven low emission food and feed production systems
• GenAI4EU: Creating European Champions in Generative AI
• Innovative in-space servicing, operations, robotics and technologies for resilient EU space infrastructure
• Breakthrough innovations for future mobility

These challenges have a €50 million budget each.

For projects out of scope of the above, applicants are invited to apply to the EIC Accelerator Open, designed for proposals in any field of science or technology. The overall budget for the open call in 2025 is €384 million.

Application Process

The process has three steps; a company must have its proposal accepted at each step before proceeding to the next.

Step 1 – Short Proposal

The Step 1 Short Proposal is the first stage of the application process, where applicants provide an overview of their innovation, its potential, and their company. It enables both the EIC and the applicant to assess at an early stage if the project is likely to qualify.

Companies should answer questions about their team, potential market, and scientific breakthrough innovation, as well as provide a 10-slide pitch deck and a 3-minute video.

The Short Proposal is submitted through the EIC’s Funding and Tenders platform by filling in standard questions and then a 12-page narrative. Four evaluators will provide a response within four weeks of submission; if at least three give a GO, applicants may proceed to Step 2.

There is no deadline for the Step 1 Proposal; companies can apply to Step 1 on a rolling basis. However, there is a deadline for Step 2, so aligning your Step 1 Proposal with the Step 2 cut-off you’re aiming for is the smart move. Step 1s accepted in 2025 can proceed in any of the calls in 2025 or 2026. Step 1s accepted in 2023 or 2024 can submit their full proposal to the 2025 calls. You can decide which cut-off to apply to. We recommend submitting your Step 1 with a minimum of 12 weeks before the cut-off you’re aiming for, to allow for the review of Step 1 and time for the preparation of Step 2.

You will receive feedback on the strengths and weaknesses of your application, which can inform your Step 2 proposal.

Step 1 should make it clear that the problem is genuine and widespread, the proposed solution is unique, the market is sizable, and the business model is sound. At all stages, the evaluators are assessing your proposal on excellence, impact and implementation:

• Excellence: Is the proposed innovation highly novel, deep tech breakthrough compared to existing solutions? Is the innovation at the cutting edge of new market, societal or technological trends?
• Impact: Is the innovation better than what the competition proposes? Does the innovation have the potential to develop new markets or significantly transform existing ones? Does it align with EU values and goals?
• Implementation: Does the team have the capability and motivation to implement the innovation proposal and bring it to the market? Is there a plan to acquire any critical competencies which are currently missing, including adequate gender balance?

Step 2 – Long Proposal

If your short proposal receives a GO, you can submit your full proposal to any of the deadlines within twelve months.

As with Step 1, Step 2 is submitted online using the Funding and Tenders portal. The Step 2 proposal is longer than Step 1, with 50 pages to fill in compared to the 12 of Step 1. A pitch deck (which will be used in Step 3, if approved) and a 3-minute video are also required.

Three new evaluators will review the application within 9 weeks. To move on to Step 3, you will need three GOs from the evaluators.

Deadlines come twice a year for Step 2. For 2025, the deadlines for submissions are March 12, 2025, and October 1, 2025.

Step 2 is judged on the same criteria, but your responses need to be much more in-depth. It’s important not to underestimate the Step 2 Proposal; we invite you to review the template application form, especially the Technical Description (Part B), to understand the level of detail required.

Step 3 – Jury Interview

Following review at Step 3, if you receive three unanimous GOs, you will be invited to an interview with a jury panel of 4-6 industry experts, either in-person in Brussels or remotely via video conference.

The interview lasts 45 minutes, including a 10-minute pitch using the pitch deck from Step 2 and a 35-minute Q&A session. Three representatives should be at the interview; employed staff, board members and investors of the applicant company may participate in the interview.

The GO/NO GO decision is voted on by the jury and is a consensus. If successful, you’ll be invited to negotiate a grant agreement. If unsuccessful, you’ll usually receive a Seal of Excellence, demonstrating that the proposal was considered strong enough to reach the jury stage. The Seal of Excellence facilitates funding from other funding sources and access to EIC Business Acceleration Services.    

Success Stories

• Luminate Medical (€7.5m, Ireland): Luminate Medical is a Galway-based spin-out company from the University of Galway. The company's mission is to deliver cancer treatment in patients' homes, including the funded project LILY. Their wearable cap uses compression therapy to prevent chemotherapy-induced hair loss.
• Hooke Bio (€5.5m, Ireland): Hooke Bio developed Mera, a groundbreaking “body-on-a-chip” solution that simulates the entire human body’s response to drugs. Unlike existing models that mimic just single organs, Mera offers a holistic approach, reducing the need for animal testing.
• Butterfly Medical (€16.5m, Israel): Butterfly Medical is developing a fast, simple, and minimally invasive alternative treatment to medication and surgery used for Benign Prostate Hyperplasia treatment. Butterfly’s innovative device transfers the procedure from the operating room to the clinic, with the device being placed in 6 to 8 minutes, under local anaesthesia.
• Ore Energy (€8.5m, Netherlands): A climate tech company developing ultra-cheap long-duration energy storage systems, based on very abundant materials: iron, water and air. Compared to other state-of-the-art electrochemical storage systems such as Li-ion batteries, our batteries can supply energy for days instead of just a few hours at an unbeatable cost. They are also the only truly scalable batteries.
• Hyperion Robotics (€11m, Finland): Concrete accounts for 8% of global CO2 emissions. Hyperion offers a breakthrough technology: a green, carbon-negative 3D printable concrete. Hyperion’s technology can reduce the CO2 emissions of concrete element production by 100%, offering it at 50% of today’s cost of 3D printable concretes.
• AURA AERO (€17.5m, France): ERA is a hybrid electric aircraft, propelled by electric engines that are powered by batteries and turbogenerators. ERA matches the most advanced needs of the market and will allow exploitation for decades. Depending on the configuration, ERA covers distances from 400km up to 1500km.
• Mifundo OÜ (€9m, Estonia): Today's bank lending is country-based and there is no solution available across the EU, making cross-border borrowing almost impossible. Mifundo is developing the first cross-border AI and data platform, providing a technology layer to passport credit histories across borders through one single API.
• Melt&Marble (€7.5m, Sweden): Melt&Marble specialises in developing exceptional fats for plant-based foods. More than 60% of dietary proteins are supplied by animals whose farming takes up ~77% of all agricultural land despite supplying only 17% of the world’s calories. Melt&Marble have created a scalable, precision-fermentation-based proprietary technology platform, using engineered yeasts that produce animal-like fats with superior functionality and flavour. The fats have lower saturated fats levels (40-60% vs. 90% of coconut oil) and better functionality than coconut oil to impart a better taste.

Tips for a Successful Application

• It’s important to give a clear, compelling narrative in all stages of your proposal; this may result in some repetition, but it’s critical to make your case as robust as possible.
• You shouldn’t understate the business case. Scalability and commercial success are as important as societal benefit.
• Getting to Step 2 and Step 3 allows applicants to use external expertise to make their proposal attractive; don’t miss out on coaching and mentoring opportunities of the EIC Accelerator.

Conclusion

The EIC Accelerator is indispensable when it comes to the EU’s transformation towards a healthier, more innovative and sustainable vision. With the might of Horizon Europe behind it and over €600 million to dispense in 2025, the EIC Accelerator encourages innovative SMEs to seize the opportunity for large-scale market transformation.

At Myriad, we have 32 wins at EIC and have been ranked #1 in European grant funding applications three times. We’ve supported some of the EIC Accelerator’s biggest success stories to scale their projects. If you have a project at or around TRL 5 that you know could change the world for the better, get in touch with our team. We’re here to help you help others.