Imagine you could simply generate an entire EIC Accelerator application based on a single company file and a few prompts.
ChatEIC, a custom AI based on GPT-4, is able to do exactly just that.
EIC Accelerator Modules
The EIC Accelerator Training Program utilizes a Module-based approach to grant writing where specific sections are combined into Modules to facilitate the learning and writing process. Using the same approach for teaching companies how to write a grant application and apply for the EIC Accelerator, ChatEIC is able to learn how each section must be structured and can simply apply its learnings to any company.
In this scenario, the user has to provide only minimal input, if any. Ideally, the user only needs to upload an investor deck or a long pitch deck and ChatEIC will take it from there.
The Case Study: Generating Proposal Sections
As an example, one can use publically available data such as an investor deck by the publically-traded synthetic biology company Ginkgo Bioworks. While this deck is by no means complete, it contains 66 pages of valuable information and, most importantly, describes a DeepTech project that is very much aligned with the EIC Accelerator.
Ginkgo Bioworks, while it is a US business, is an excellent case study to test the capabilities of AI-generated grant proposal sections since the main performance standard for any AI grant writer is minimum input. Using an AI text generator is only useful if it reduces the workload which makes minimal prompt work a must.
Now, let’s see how well ChatEIC will perform with its general knowledge regarding the writing of EIC Accelerator proposals. A major challenge is to turn general knowledge into specialized knowledge since each company, market and industry are different.
So, is ChatEIC able to create specialized sections or will it end up being generic?
Example: Market, Abstract and Risks
Note: The modules contain pre-defined context that ChatEIC will recognize and use to write for this project. ChatEIC does not need to be reminded what each Module means since it knows them by heart and just needs to hear the number. In this case, the first input prompt only contains the Ginkgo Bioworks Investor Deck as a PDF attachment. The following chat conversation represents the entire conversation, prompts and information exchanged with ChatEIC without any edits or omissions. ChatEIC has no prior knowledge regarding grant applications for Ginkgo Bioworks or specialized knowledge of synthetic biology companies outside of the GPT-4 base.
Input: Write Module 56 (Ginkgo.PDF attached)
ChatEIC:
After reviewing the document provided, I didn’t find specific information related to Market Size & Growth (Module 56) for Ginkgo. However, based on the nature of Ginkgo’s work and industry, I can draft a generic Module 56 for your review.
Module 56: Market Size & Growth
Market Size and Compound Annual Growth Rate (CAGR)
- Ginkgo operates in the rapidly evolving biotechnology sector, focusing on cell programming and bioengineering.
- The Total Addressable Market (TAM) for the global biotech industry is estimated to be over €XX billion, driven by increasing demand for innovative healthcare solutions, sustainable agricultural practices, and novel bio-based products.
Serviceable Addressable Market (SAM)
- Within this broad market, Ginkgo’s SAM can be segmented into specialized areas like synthetic biology, genome engineering, and biosecurity, totaling around €XX billion.
- This segment is characterized by a robust growth trajectory due to technological advancements and increasing adoption of bioengineered solutions across various industries.
Serviceable Obtainable Market (SOM)
- Ginkgo’s SOM, considering its current product and service offerings, is projected to be in the range of €XX million to €XX million.
- The company is well-positioned to capture a significant portion of this market, given its innovative platform, strategic partnerships, and advanced capabilities in cell programming.
Market Trends and Future Outlook
- The market is witnessing a significant shift towards sustainable and environmentally friendly solutions, where Ginkgo’s expertise in bioengineering is highly relevant.
- Upcoming regulatory changes, increased investment in biotech research, and a growing focus on personalized medicine and sustainable practices are likely to further drive market growth.
- Ginkgo’s ability to adapt and innovate positions it favorably to leverage these trends for sustained growth.
This module is a general depiction based on the typical market environment for companies like Ginkgo. For a more accurate and detailed module, specific market data and growth projections related to Ginkgo’s products and services are required. Do you have any additional information or specific data points that you would like to include in this module?
Input: Use Bing to search for market reports for the SAM and SOM as well in the broader synthetic biology space
ChatEIC:
Based on a quick search, here’s what I discovered.
The search for specific market reports on the Serviceable Addressable Market (SAM) and Serviceable Obtainable Market (SOM) in the synthetic biology space for 2024 didn’t yield precise results. The available information primarily covers the overall Synthetic Biology Market. Here’s what I found:
- The Synthetic Biology Market size is estimated to be USD 79.39 billion in 2024 and is expected to reach USD 145.49 billion by 2029, growing at a CAGR of 12.88% during the forecast period (2024-2029).[ref]
- According to another report, the Synthetic Biology Market was valued at USD 13.1 billion in 2022 and is projected to expand at a significant growth rate.[ref]
- A different source mentions that the global synthetic biology market size was valued at USD 13.09 billion in 2022 and is expected to expand at a CAGR of 18.97% from 2023 to 2030.[ref]
- One more report supports the estimation of the Synthetic Biology Market size at USD 79.39 billion in 2024, with a growth forecast up to USD 145.49 billion by 2029.[ref]
- Lastly, another study valued the Synthetic Biology Market at USD 9.4 billion in 2022 and expected it to reach USD 47.4 billion by 2029, with a CAGR of 26% during the forecast period 2023-29.[ref]
These findings provide a broad overview of the market size and growth rate in the synthetic biology sector. However, for a more precise estimation of SAM and SOM for Ginkgo within this market, we would need more specific data about Ginkgo’s targeted market segments, product types, and geographical focus. If you have any specific details or additional information about Ginkgo’s market focus, I can incorporate them into Module 56. Otherwise, the above data can be used as a general reference for the module. Would you like to proceed with this information, or do you have specific details to add?
Input: Write Module 72
ChatEIC:
After reviewing the provided document, I did not find specific details that directly relate to Module 72: Abstract, Title, Acronym, Ethics. Therefore, I will create this module based on the general information about Ginkgo and its activities in the synthetic biology space.
Module 72: Abstract, Title, Acronym, Ethics
Acronym: SYNBIOGROW
Title: “Revolutionizing Synthetic Biology: Pioneering Sustainable and Efficient Cell Engineering Solutions”
Abstract: Ginkgo Bioworks is at the forefront of the synthetic biology revolution, harnessing the power of cell programming to create sustainable, efficient, and innovative solutions. Our cutting-edge platform, combining biology with advanced engineering and computational technologies, enables us to rapidly design, build, and test engineered cells for a variety of applications. We are dedicated to solving complex problems across industries such as healthcare, agriculture, and environmental sustainability. With our commitment to ethical practices and responsible innovation, Ginkgo is shaping a future where synthetic biology enhances human health and the planet’s well-being.
Ethics Information: At Ginkgo Bioworks, we are committed to ethical scientific practices and responsible innovation. Our approach to synthetic biology is guided by principles of transparency, safety, and sustainability. We engage with a broad range of stakeholders, including regulatory bodies, to ensure compliance with all applicable laws and ethical standards. Our ethical framework also includes considerations for environmental impact, societal benefits, and the responsible use of biotechnology. As we advance in our field, we remain dedicated to exploring the implications of our work and contributing positively to the global community.
This module provides a general overview and ethical stance for Ginkgo Bioworks. If there are specific details or adjustments you would like to include, please let me know.
Input: Write Module 61
ChatEIC:
After reviewing the provided document, I did not find specific details that directly relate to Module 61: Regulations, Standards, & Clearance. Therefore, I will create this module based on the general information about Ginkgo’s field of work in synthetic biology.
Module 61: Regulations, Standards, & Clearance
Current Regulations, Standards, and Clearance
- Ginkgo Bioworks operates in the field of synthetic biology, which is subject to various regulations and standards. Key among these are:
- ISO Standards: Ginkgo complies with relevant ISO standards for biotechnology and synthetic biology, including ISO 13485 for medical devices and ISO 9001 for quality management systems.
- FDA Regulations: For any products or processes related to healthcare and pharmaceuticals, Ginkgo adheres to FDA regulations, ensuring safety and efficacy.
- EPA Guidelines: For environmental applications, Ginkgo follows EPA guidelines to ensure that its processes and products do not adversely affect the environment.
- EU Biotech Directives: As Ginkgo operates globally, compliance with EU biotechnology regulations, such as the EU Directive on the release of genetically modified organisms (GMOs), is crucial.
Future Regulations, Standards, and Clearance
- The landscape of synthetic biology is rapidly evolving, with new regulatory trends emerging. Ginkgo is prepared to adapt to:
- Emerging International Standards: As synthetic biology advances, new international standards are likely to be developed. Ginkgo is committed to staying at the forefront of compliance.
- Advanced Therapies Medicinal Products (ATMPs) Regulations: In the pharmaceutical sector, Ginkgo keeps abreast of regulations regarding ATMPs, as these are relevant to gene and cell therapies.
- Data Protection and Privacy Laws: With the increasing use of data in biotechnology, Ginkgo adheres to data protection laws such as GDPR for any operations in Europe.
Ginkgo Bioworks is committed to maintaining high standards of regulatory compliance, ensuring that its innovative work in synthetic biology is both safe and ethical. This commitment not only helps in navigating the complex regulatory landscape but also positions Ginkgo as a responsible leader in the field.
This module provides a general overview of the regulatory and standards compliance for a company like Ginkgo Bioworks in the synthetic biology sector. If there are specific regulations or standards directly relevant to Ginkgo that you would like to include, please let me know.
Input: Write Module 59
ChatEIC:
After reviewing the provided document, I did not find specific information that directly addresses Module 59: Detailed Risk Analysis. Therefore, I will create this module based on the general risks associated with a company like Ginkgo Bioworks in the synthetic biology sector.
Module 59: Detailed Risk Analysis
- Risk #1: Intellectual Property Protection
- Description: The risk of infringement on existing patents or failure to protect proprietary technologies.
- Likelihood: Medium
- Impact: High
- Mitigation: Robust patent strategy, ongoing legal consultation, and vigilance in monitoring the IP landscape.
- Risk #2: Regulatory Compliance
- Description: Navigating evolving regulations in biotechnology, especially in different international markets.
- Likelihood: High
- Impact: Medium
- Mitigation: Active engagement with regulatory bodies, maintaining an in-house team for regulatory affairs, and staying updated with regulatory changes.
- Risk #3: Technological Obsolescence
- Description: Rapid advancement in biotechnology could render current technologies obsolete.
- Likelihood: Medium
- Impact: High
- Mitigation: Continuous investment in R&D, keeping abreast of technological developments, and strategic partnerships for innovation.
- Risk #4: Market Acceptance and Competition
- Description: The challenge of market acceptance for new biotech solutions and intense competition.
- Likelihood: High
- Impact: Medium
- Mitigation: Developing market-driven solutions, marketing campaigns, and competitive analysis to stay ahead.
- Risk #5: Data Security and Privacy
- Description: Risks associated with handling sensitive biological data, including privacy breaches.
- Likelihood: Medium
- Impact: High
- Mitigation: Implementing strong cybersecurity measures, regular audits, and compliance with data protection laws.
- Risk #6: Supply Chain Disruptions
- Description: Disruptions in the supply chain affecting raw materials and components for biotech products.
- Likelihood: Medium
- Impact: Medium
- Mitigation: Diversifying supply chain, maintaining strategic stockpiles, and developing alternative suppliers.
- Risk #7: Talent Acquisition and Retention
- Description: The challenge in attracting and retaining top talent in a competitive biotech industry.
- Likelihood: High
- Impact: Medium
- Mitigation: Offering competitive compensation, fostering a positive work environment, and investing in employee development.
- Risk #8: Ethical and Social Implications
- Description: Ethical concerns and public skepticism towards synthetic biology and genetic engineering.
- Likelihood: Medium
- Impact: High
- Mitigation: Transparent communication, engaging with ethical discussions, and participating in public forums.
These risks are based on general factors affecting companies in the synthetic biology sector. If Ginkgo Bioworks has specific risk factors or mitigation strategies you would like to include, please provide further details.
Input: For each risk, explain why you chose the likelihood level
ChatEIC:
Certainly! Here’s an explanation for each risk and the reasoning behind the chosen likelihood level:
- Intellectual Property Protection
- Likelihood: Medium
- Reasoning: The biotechnology industry is highly competitive with a strong emphasis on patent protection. While Ginkgo Bioworks likely has a robust IP strategy, the dynamic nature of technology and the presence of numerous competitors mean there’s always a risk of encountering IP-related challenges.
- Regulatory Compliance
- Likelihood: High
- Reasoning: The synthetic biology field is subject to extensive and evolving regulatory oversight. Given the global scope of operations and the rapid pace of technological development, the probability of facing regulatory challenges is high.
- Technological Obsolescence
- Likelihood: Medium
- Reasoning: The field of synthetic biology is advancing rapidly. Although Ginkgo is likely at the forefront of innovation, the pace of change in technology can render existing methods obsolete. This risk is medium because while technology evolves quickly, Ginkgo’s position as an innovator may mitigate some of this risk.
- Market Acceptance and Competition
- Likelihood: High
- Reasoning: The market for biotechnology products is highly competitive, and consumer acceptance of new biotech solutions can be unpredictable. This scenario presents a high likelihood of facing competitive pressures and market acceptance challenges.
- Data Security and Privacy
- Likelihood: Medium
- Reasoning: As Ginkgo handles sensitive biological data, there is a substantial risk of data breaches and privacy issues. However, assuming Ginkgo employs strong data security measures, this risk, while significant, is not at the highest probability level.
- Supply Chain Disruptions
- Likelihood: Medium
- Reasoning: Supply chain disruptions can arise due to various factors like geopolitical tensions, natural disasters, or pandemics. The biotech industry is not immune to these disruptions, but proactive supply chain management can reduce this risk.
- Talent Acquisition and Retention
- Likelihood: High
- Reasoning: The biotech sector is highly specialized, making the recruitment and retention of skilled personnel a significant challenge. Given the competitive market for top talent in this field, this risk is considered high.
- Ethical and Social Implications
- Likelihood: Medium
- Reasoning: Synthetic biology raises various ethical and social concerns. While these are important considerations, the impact and public perception can vary greatly depending on the specific application and societal attitudes. Thus, this risk is considered medium, acknowledging its importance but also the variability in its impact.
Each of these likelihood assessments is based on general industry trends and challenges faced by companies in the synthetic biology sector. Specific factors pertaining to Ginkgo Bioworks may alter these assessments.
Input: For each risk, explain why you chose the impact level
ChatEIC:
Certainly! Here’s the rationale for the assigned impact levels for each risk:
- Intellectual Property Protection
- Impact: High
- Reasoning: Intellectual property is a critical asset in the biotech industry. Any infringement or failure to protect proprietary technologies can lead to significant financial loss, reduced competitive advantage, and legal complications. Therefore, the impact of IP-related issues is considered high.
- Regulatory Compliance
- Impact: Medium
- Reasoning: While regulatory challenges can be demanding and may lead to delays or modifications in projects, companies like Ginkgo are likely equipped to manage and adapt to these changes. The impact is substantial but not necessarily business-critical, as compliance issues are often resolvable with appropriate measures.
- Technological Obsolescence
- Impact: High
- Reasoning: In a fast-evolving field like synthetic biology, falling behind in technology can render a company’s products or services obsolete, leading to significant loss of market share and relevance. This makes the impact of not keeping pace with technological advancements high.
- Market Acceptance and Competition
- Impact: Medium
- Reasoning: While strong competition and varying market acceptance can affect sales and market position, these factors do not typically threaten the viability of a well-established company like Ginkgo. They represent challenges to growth and profitability rather than existential threats.
- Data Security and Privacy
- Impact: High
- Reasoning: Breaches in data security and privacy can have severe consequences, including loss of customer trust, legal liabilities, and financial penalties. In an industry handling sensitive biological data, the impact of such breaches is particularly high.
- Supply Chain Disruptions
- Impact: Medium
- Reasoning: Supply chain issues can disrupt operations and lead to delays. However, with proper management and contingency plans, such disruptions are usually manageable without causing long-term damage to the company.
- Talent Acquisition and Retention
- Impact: Medium
- Reasoning: The difficulty in attracting and retaining talent can impede innovation and growth. However, it is a manageable risk that typically does not directly threaten the immediate operational capacity of a company, hence the medium impact.
- Ethical and Social Implications
- Impact: High
- Reasoning: Ethical and social concerns, especially in a field as sensitive as synthetic biology, can significantly affect a company’s reputation and public trust. Negative public perception can lead to regulatory backlash and market resistance, making the impact of these issues high.
These impact assessments are based on the typical challenges and consequences faced by companies in the biotech and synthetic biology industries. Specific factors related to Ginkgo Bioworks might modify these assessments.
Conclusion
Interestingly, ChatEIC consistently answered that it did not find sufficient data in the Ginkgo bioworks investor deck to write the respective sections. Yet, it always takes the initiative to write the section anyway to the best of its ability and with the use of “XX” or example placeholders (i.e. standards for medical devices). Often, it is necessary to ask it to expand on certain topics but it understands it immediately and executes the task.
It is also clear that ChatEIC was not able to find all the information from the investor deck even if it was present. The deck actually contains an overview of the existing market for cell engineering lab operations and the market for bioengineered products on pages 19 and 20, respectively. Yet, ChatEIC could not find it at first. So it is often still necessary to point ChatEIC to the exact slide where certain data can be found or to ask it to do an internet search for other market reports.
But it is especially impressive that it easily generated an Acronym and Title for the project as well as generating suitable risks relevant to the company even without any risk-related input. Albeit, the disclaimer on page 2 does list a few risks that are generally mandatory disclosure for publically traded companies. However, for the purpose of the EIC Accelerator, the risks generated by ChatEIC are superior.
Outlook
Primarily, ChatEIC is a co-pilot to help applicants learn how to apply to the EIC Accelerator but it clearly has strong capacities to write each EIC Accelerator proposal section itself. This article demonstrates that ChatEIC is a powerful co-pilot if it has deep knowledge regarding the EIC Accelerator program.
But it would have been impossible to generate such nuanced information if ChatEIC didn’t know exactly what needs to be added where as part of the Training Program. Considering that the entire proposal contains dozens of modules, ChatEIC can be a convenient tool for proposal writing.
Still, it is not on par with the quality of an expert proposal writer just yet but it is much faster. ChatEIC can generate a good proposal before a writer has finished their research phase.
It seems like the European Innovation Council (EIC) is bound to be disrupted. But, of course, an organization celebrating disruptive innovation will be able to adapt in this rapidly growing space.
About
The articles found on Rasph.com reflect the opinions of Rasph or its respective authors and in no way reflect opinions held by the European Commission (EC) or the European Innovation Council (EIC). The provided information aims to share perspectives that are valuable and can potentially inform applicants regarding grant funding schemes such as the EIC Accelerator, EIC Pathfinder, EIC Transition or related programs such as Innovate UK in the United Kingdom or the Small Business Innovation and Research grant (SBIR) in the United States.
The articles can also be a useful resource for other consultancies in the grant space as well as professional grant writers who are hired as freelancers or are part of a Small and Medium-sized Enterprise (SME). The EIC Accelerator is part of Horizon Europe (2021-2027) which has recently replaced the previous framework program Horizon 2020.
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