The total indicative budget for this call is EUR 592.5 million, of which EUR 143.05 million will be funded through Next Generation EU as this call contributes to the objectives to rebuild a greener, more digital and more resilient Europe.
The EIC provides blended finance which is composed of (SEE TABLE 1):
- Investment component (Market Deployment Action): The investment component of the EIC Fund is designed to fill the funding gap or high risk innovations to a stage where they can be co-financed or financed under the InvestEU programme or by private investors alone.
When implementing investments decided by the Commission, the EIC Fund will ensure that supported companies keep most of their value, including their IP, in the EU or in the Associated Countries in order to contribute to their economic growth and job creation. For that purpose, and where the financial interests of the Union would otherwise also be at stake, the Investment guidelines adopted by the Commission will provide the conditions for the exceptional cases where the investment allocated to an eligible company may be channelled in holding companies or financial vehicles established in non-EU or non-Associated Countries. TRL: 8-9
- Grant Component (Innovation activities): to reimburse eligible costs incurred for innovation activities, including demonstration of the technology in the relevant environment, prototyping and system level demonstration, R&D and testing required to meet regulatory and standardisation requirements, intellectual property management, and marketing approval. TRL: 5/6 to 8.
You may request a grant component only or grant first (i.e. maximum EUR 2.5 million to cover TRL 5/6 to 8 and without requesting an investment component for TRL 9) if you have not previously received EIC Accelerator grant-only support. You may request a grant-only or grant-first support under the following conditions:
- Grant only: You can provide evidence that you have sufficient financial means (e.g. revenue flow, existing investors or shareholders) to finance the deployment and scaling up of your innovation. In such a case, you will have to detail in your proposal all elements demonstrating that you possess or are in the process to obtain those necessary resources and financial means to provide for necessary TRL 9 expenditures normally covered by the investment component. Should the above-mentioned milestone assessment show that you do not have the above mentioned deployment capacities, the grant may be terminated.
- Grant first: Your innovation is based on a scientific discovery or novel technology and still requires significant work to validate and demonstrate in relevant environments in order to properly assess its commercial potential. Such innovations may include, but are not limited to, those based on research results from the EIC Pathfinder and Transition, as well as European Research Council.
Grant-first companies as stated above are eligible for a follow on equity component subject to a milestone assessment attesting that the innovation activities are well under way and that the innovation has the potential for deployment.
If the milestone assessment is positive, you will be:
- required to demonstrate that you have sufficient financial means (e.g. revenue flow, existing investors or shareholders) to finance or any remaining innovation activities and the deployment and scaling up of your innovation;
- invited to enter due diligence and negotiations with the EIC fund to receive an EIC equity investment, including to complement any other third party investments if insufficient. Allocation of the equity investment is conditional to the due diligence assessment.