The Enhanced European Innovation Council (EIC) pilot supports researchers and innovators developing breakthrough innovations with the potential to create new markets and boost jobs, growth and prosperity in Europe.
The EIC has launched the Scalator Pilot call to support EIC beneficiaries in their growth phase to become sustainable global deep-tech leaders. It will also represent a well-tested EU model for scaling services to foster substantial growth of deep-tech innovators that will increase their number and value of commercial deals, investments deals and IPOs/acquisitions.
The call aims to address the fact that only 5% of European start-ups scale-up and pursue the position of world tech leaders. As high growth companies are the ones largely responsible for job creation and economic benefit, this is a missed opportunity. These growth barriers are even higher for truly high-risk deep tech innovators, the main target of EIC instruments. Considering the high-tech characteristics of the EIC beneficiaries, which have a longer time to market than digital start-ups, access to a broader pan-European enterprise market is a key factor to succeed.
Following the initial funding rounds provided by the Pathfinder and the Accelerator instrument, the EIC Scalator will focus on beneficiaries which are ready for funding rounds above €50 million. The support will be provided by offering specialised and highly personalised advice and coaching and creating meaningful connections with other ecosystems players.
This EIC Scalator Pilot aims at accelerating investments and partnerships among the most mature EIC beneficiaries and create European deep-tech success stories by connecting relevant EIC beneficiaries to corporates, to investors that provide strong networks and late stage investment (equity or venture debt), to international markets, and to stock exchanges.
The Pilot will be a fundamental part of the future services provided by the European innovation Council in Horizon Europe and InvestEU. It will provide support for to up to 30 EIC beneficiaries that comply with the relevant selection criteria, such as those that display the following:
- Annual growth potential circa 50%-100%;
- A validated, repeatable, scalable business model;
- Significant revenue traction;
- Are driven by deep-tech innovation that disrupts existing market(s);
- The ambition to expand in new markets (geographical/sectoral);
- The potential to expand internationally (ratio of foreign customers, revenue from international markets, number of markets outside domestic market);
- Are commercially self-sufficient.
The EIC Scalator Pilot will be linked in the EIC Community Platform, as well as with the EIC Fund.
The call is open to any legal entity (including natural persons) or group of legal entities established in an EU Member State or in a country associated to Horizon 2020.
€1.5 million will be available for an indicative timetable of 18 months. No direct financial support will be provided by the Scalator to the EIC beneficiaries. If any third party offers financial support to the EIC beneficiaries that are part of the EIC Scalator pilot, these investment will have to comply with the relevant national of EU regulation (including state aid whenever relevant).
Applications should be submitted via the Commission's Funding & Tenders Portal by the 2 September 2020 deadline.
More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.