Universities have long been the birthplace of some of the most groundbreaking and transformative technologies our world has seen. Rooted in rigorous academic research and fostered by an environment of intellectual curiosity, these institutions are not just centers of learning but pivotal incubators for innovative entrepreneurs. Especially within the realm of scientific technologies, universities and research institutes stand at the forefront of what we now commonly refer to as DeepTech – technologies that offer profound advancements across various sectors including healthcare, energy, and computing, to name a few.

The University-Entrepreneurship Nexus

The journey from academic research to entrepreneurial venture is a path tread by many innovators. Universities, with their wealth of resources, including state-of-the-art labs, access to funding, and a network of like-minded thinkers, offer an unparalleled ecosystem for nurturing early-stage DeepTech projects. It’s within these academic halls that the foundational research takes place – often long before a market application is even considered.

One of the key elements of this environment is the encouragement of cross-disciplinary collaboration. It’s not uncommon for a breakthrough in material science at a university to pave the way for revolutionary new products in the consumer electronics space or for biomedical research to lead to the development of groundbreaking medical devices. These technologies, born from academic projects, have the potential to address critical global challenges and pave the way for new industries.

Bridging the Gap: From Academia to Industry

However, the path from a university project to a successful DeepTech company is fraught with challenges. The process of commercializing scientific research requires more than just technical expertise; it demands a keen understanding of the market, strategic business planning, and the ability to secure investment. Herein lies the role of entrepreneurship programs and technology transfer offices within universities, which aim to bridge this gap. They provide budding entrepreneurs with the mentorship, funding, and business acumen needed to bring their innovations to market.

Additionally, the role of public and private funding cannot be overstated. Initiatives like the European Innovation Council (EIC) Accelerator program offer critical support through grants and equity financing for startups that are navigating the treacherous waters of commercializing DeepTech. These programs not only provide financial backing but also lend credibility to the startups, attracting further investment and partnerships.

Real-World Impact and the Future

The impact of university-produced DeepTech innovations on the global stage is undeniable. From the creation of life-saving medical technologies to the development of sustainable energy solutions, these advancements are shaping the future. As we look ahead, the role of universities as incubators of innovation will only grow in importance. With the right support structures in place, the potential for these academic endeavors to transform into successful, world-changing enterprises is boundless.

In conclusion, universities are not just centers of learning but pivotal cradles of innovation, nurturing the entrepreneurs who are set to redefine our world with DeepTech innovations. As these academic institutions continue to evolve, their potential to contribute to global economic and societal advancements is unlimited. With continued support and investment, the bridge from academia to industry will strengthen, ushering in a new era of transformative technologies.

From Lab Bench to Market: The Funding Odyssey of University-Based Startups

The transition from academic research to a successful startup is a daunting journey, especially for founders originating from fields such as chemistry, pharma, biology, and physics. These scientific entrepreneurs face a unique set of challenges, chief among them being the arduous task of securing funding. Unlike their counterparts in more commercial sectors, scientists turned startup founders often find themselves in unfamiliar territory when it comes to fundraising.

The Fundraising Challenge for Scientific Entrepreneurs

The core of the problem lies in the expertise gap. Scientists are trained to explore, discover, and innovate, focusing on the advancement of knowledge rather than the intricacies of business models, market fit, or investor pitching. This gap often leaves them at a disadvantage in a competitive funding landscape dominated by investors looking for quick returns and businesses with clear market applications.

Moreover, the nature of DeepTech and scientific startups means they typically require significant upfront investment for research and development, with longer paths to market and profitability. This further complicates their appeal to traditional venture capitalists, who may shy away from the inherent risks and extended timelines.

Grants: A Lifeline for Getting Started

In light of these challenges, grants play a crucial role in the early stages of a scientific startup’s lifecycle. Funding mechanisms such as the European Innovation Council (EIC) Accelerator program become lifelines, offering not just financial support but also validation of the scientific venture’s potential impact. Grants from governmental and international bodies provide the essential capital needed to transition from proof-of-concept to a viable product, without diluting the founders’ equity or forcing them into premature commercialization strategies.

Building a Bridge: The Role of University Incubators and Entrepreneurship Programs

Recognizing the unique challenges faced by their scientific entrepreneurs, many universities have established incubators and entrepreneurship programs designed to bridge the knowledge gap. These programs offer mentorship, business training, and access to networks of investors specifically interested in DeepTech and scientific innovations. They aim to equip scientists with the necessary skills to navigate the funding landscape, from crafting compelling pitch decks to understanding the financial metrics crucial to investors.

The Path Forward

Despite the hurdles, the potential societal and economic benefits of scientific startups are immense. With their ability to address pressing global challenges through innovation, supporting these ventures is of paramount importance. Strengthening the ecosystem that supports scientific entrepreneurs, from enhanced grant programs to more specialized investor networks, is critical for their success.

In conclusion, while the journey from university lab to market is fraught with challenges, especially in securing funding, there is a growing recognition of the need to support these pioneers of innovation. By bridging the expertise gap and leveraging grants as a springboard, the path forward for scientific startups is becoming clearer, promising a future where their transformative potential can be fully realized.

Navigating Intellectual Property: A Guide for University Spinoff Founders

The journey from academia to entrepreneurship is fraught with potential pitfalls, especially when it comes to intellectual property (IP) rights. Founders of scientific company spinoffs must tread carefully to ensure that they can retain control over their innovations and avoid costly legal battles or loss of their inventions to the very institutions that helped foster their development.

The IP Conundrum: Ownership and Patents

One of the most critical areas of concern for university spinoff founders is the ownership of patents. Universities often have policies in place that grant them ownership of IP created using their resources or within their premises. While this is intended to promote research and innovation, it can pose significant challenges for founders looking to commercialize their inventions. Negotiating the maze of university IP policies requires a clear understanding and often, the assistance of legal counsel to ensure that founders retain control over their patents.

High-Stakes Negotiations: Retaining IP Rights

The process of spinning off a company from university research often involves complex negotiations around IP rights. Founders must be vigilant to ensure that these negotiations do not result in the university owning patents outright or reselling them to the spinoff at prohibitive costs. A balanced and fair agreement that recognizes the contributions of both the founders and the university is essential for a successful spinoff.

Equity for Support: A Delicate Balance

Another area of concern is the potential for universities to seek ownership stakes in the company without providing corresponding financing. While universities may offer valuable support in the form of resources, mentorship, and access to networks, founders should carefully consider the implications of giving up equity. Agreements should be structured to ensure that any equity provided to the university is commensurate with the value they bring to the table, beyond just the initial IP.

Building a Foundation for Success

To navigate these challenges successfully, founders should:

• Engage Early: Start discussions with university technology transfer offices as early as possible to understand their IP policies.
• Seek Legal Advice: Obtain legal counsel experienced in university spinoffs and IP negotiations to ensure your interests are protected.
• Define Value: Clearly articulate the value each party brings to the spinoff and negotiate agreements that reflect this value fairly.
• Plan for the Future: Consider how IP agreements will impact future funding rounds, partnerships, and the long-term growth of the company.

In conclusion, while the path from university research to a successful spinoff is complex, especially regarding IP rights, careful planning and negotiation can ensure that founders retain control over their innovations. By understanding the landscape, seeking expert advice, and negotiating fair agreements, founders can lay a solid foundation for their ventures outside the academic realm.

Securing the Future: Strategic Equity Management for University Spinoffs

The road from academic research to a thriving startup is paved with critical decisions, none more daunting than those surrounding early-stage funding. For founders of scientific company innovation spinoffs, the allure of quick capital can sometimes lead to agreements that significantly dilute their ownership stakes. This shortsightedness in the initial funding rounds can have long-term repercussions, deterring future investors and compromising the company’s autonomy and potential.

The Dilution Dilemma

In the quest for capital, university spinoffs, particularly those rooted in scientific research, may find themselves offering substantial equity to initial investors or their parent institutions. While securing funding is crucial, excessive dilution early on can leave founders with little control over their ventures. This not only affects decision-making but can also diminish their share of future successes.

Striking a Balance: Equity for Growth

The key to navigating early-stage funding is to strike a balance that allows for growth without surrendering too much control. Founders should:

• Understand Valuation: Have a clear grasp of their company’s valuation and how it can be affected by early investments.
• Seek Fair Terms: Negotiate terms that are fair and conducive to long-term growth, rather than just immediate needs.
• Explore Alternatives: Consider grants, loans, and other non-dilutive funding options to minimize equity given away.

The Role of University Agreements

Agreements with universities can also contribute to the dilution risk. Universities may seek equity in exchange for IP rights or access to resources. Founders must ensure these agreements are equitable and do not disproportionately benefit the institution at the expense of the company’s future.

Future Investors: The Impact of Early Decisions

Future rounds of funding are critical for a startup’s growth, and early decisions can significantly impact the attractiveness of a company to later investors. Excessive dilution can signal mismanagement or desperation, deterring potential backers. Maintaining a more substantial stake ensures that founders have the leverage necessary for future negotiations.

Conclusion

For university spinoffs, particularly in the scientific field, the challenge of funding should be met with strategic foresight. By carefully managing equity and seeking fair, balanced agreements, founders can safeguard their interests and ensure their company remains attractive to future investors. This approach not only protects their stake but also secures the startup’s growth trajectory, allowing it to reach its full potential.

Bridging the Gap: The Critical Role of Business Expertise in Scientific Spinoffs

The creation of a successful scientific spinoff from university research requires not just groundbreaking technology but also robust commercial strategy and business acumen. Founders, often deeply rooted in the realms of science or engineering, may find themselves navigating unfamiliar commercial waters. To bridge this gap, integrating commercial and business expertise early in the venture, ideally through co-founders with this background, is not just beneficial but essential.

The Value of Business Expertise

Commercial and business expertise brings several key advantages to scientific spinoffs:

• Strategic Planning: Understanding market needs, competitive positioning, and the path to commercialization.
• Financial Management: Securing funding, managing budgets, and ensuring the financial health of the startup.
• Marketing and Sales: Identifying target customers, crafting compelling value propositions, and building customer relationships.
• Networking: Leveraging industry contacts for partnerships, investments, and growth opportunities.

Co-Founders with Business Expertise

Incorporating co-founders with business expertise ensures that these critical functions are not an afterthought but a foundational element of the startup. These individuals can navigate the complex landscape of funding, IP negotiations, market analysis, and customer acquisition from the outset. Moreover, they bring a different perspective to the table, complementing the technical focus of scientific founders with a strategic and market-oriented outlook.

Early Integration, Lasting Impact

The early integration of business expertise can significantly impact the venture’s trajectory. It facilitates a more strategic approach to product development, aligning technical innovations with market needs and customer expectations. This strategic alignment is crucial for attracting investment, entering markets effectively, and scaling operations.

Conclusion

For founders of scientific university spinoffs, the journey from lab bench to market success is multifaceted. While the innovation at the heart of their venture is indispensable, the integration of commercial and business expertise is equally crucial. Onboarding individuals with this expertise, ideally as co-founders, ensures that the startup not only innovates but also thrives in the competitive landscape of business. By doing so, scientific spinoffs can maximize their potential for impact, growth, and long-term success.

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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.

This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.

Are you interested in hiring a writer to apply for grants in the EU?

Please feel free to reach out here: Contact

Are you looking for a training program to learn how to apply for the EIC Accelerator?

Find it here: Training

EIC Accelerator TL;DR

 

In an era marked by rapid technological advancement and innovation, the term “DeepTech” has emerged as a buzzword synonymous with startups and the tech industry at large. But what exactly does “DeepTech” mean, and why is it pivotal for startups and technology sectors?

DeepTech, or deep technology, refers to cutting-edge technologies that offer significant advancements over existing solutions. These technologies are characterized by their profound potential to disrupt industries, create new markets, and solve complex challenges. Unlike mainstream technology that focuses on incremental improvements, DeepTech dives deeper into scientific discoveries or engineering innovations to bring about radical change.

The Essence of DeepTech

At its core, DeepTech embodies technologies rooted in substantial scientific advances and high-tech engineering innovation. These technologies are often associated with sectors such as artificial intelligence (AI), robotics, blockchain, advanced materials, biotechnology, and quantum computing. The unifying factor among these is their foundational reliance on profound, substantive research and development (R&D) efforts, often resulting in breakthroughs that could take years to mature and commercialize.

DeepTech in Startups and the Tech Industry

For startups, venturing into DeepTech represents both a colossal opportunity and a formidable challenge. The development cycle for DeepTech innovations is typically longer and requires more substantial capital investment compared to software or digital startups. However, the payoff can be transformative, offering solutions to pressing global issues, from climate change to healthcare crises.

The technology industry’s interest in DeepTech is driven by the promise of creating lasting value and establishing new frontiers in technology. Unlike consumer tech, which can be subject to rapid shifts in consumer preferences, DeepTech offers foundational changes that can redefine industries for decades.

The Path Forward

Navigating the DeepTech landscape demands a blend of visionary scientific research, robust funding mechanisms, and strategic industry partnerships. For startups, this means securing investment from stakeholders who understand the long-term nature of DeepTech projects. It also requires a commitment to R&D and a willingness to pioneer uncharted territories.

The significance of DeepTech goes beyond mere technological advancement; it’s about building the future. By harnessing the power of deep technologies, startups have the potential to usher in a new era of innovation, solving some of the world’s most intricate challenges with solutions that were once deemed impossible.

In conclusion, DeepTech stands at the intersection of groundbreaking scientific research and technological innovation. For startups and the tech industry, it represents the next frontier of discovery and disruption. Embracing DeepTech is not just an investment in technology; it’s a commitment to a future where the boundaries of what’s possible are continually expanded.

The Unique Capital Dynamics of DeepTech: Navigating the Waters of Innovation

In the burgeoning world of startups, DeepTech stands out not only for its ambition to push the boundaries of innovation but also for its distinct financial and developmental landscape. DeepTech startups, by their nature, delve into areas that are both capital-intensive and time-consuming, often focusing on hardware developments or groundbreaking scientific research that necessitates a different breed of investment: patient capital.

The Capital Intensive Nature of DeepTech

DeepTech ventures often require substantial initial investments, significantly higher than those of their software counterparts. This is primarily due to the hardware-intensive aspects of many DeepTech projects, such as in biotechnology, robotics, and clean energy. The development of physical products or the implementation of novel scientific discoveries demands not only specialized equipment and materials but also access to advanced research facilities.

The Time Factor

Beyond financial considerations, time plays a crucial role in the development of DeepTech innovations. Unlike software startups, where products can be developed, tested, and iterated upon in relatively short cycles, DeepTech projects often span years or even decades. This extended timeframe is due to the complex nature of the technology being developed, the necessity for extensive testing and certification processes, and the challenge of bringing groundbreaking innovations to market.

Patient Capital: A Vital Ingredient for Success

Given these unique challenges, DeepTech startups require investors who are prepared for a longer journey to return on investment (ROI). This “patient capital” is willing to support startups through the lengthy periods of R&D and market introduction inherent in DeepTech ventures. Such investors typically have a deep understanding of the specific industries and the potential impact of the innovations, enabling them to see beyond short-term gains towards the transformative potential of these technologies.

Why Patient Capital Matters

The significance of patient capital extends beyond merely providing financial resources. It includes mentorship, industry connections, and strategic guidance, all of which are crucial for navigating the complex landscape of DeepTech. Moreover, patient capital helps foster a culture of innovation where entrepreneurs can focus on breakthroughs that might not have immediate commercial viability but have the potential to create substantial societal and economic impacts in the long run.

In conclusion, the journey of DeepTech startups is uniquely challenging, requiring more than just financial investment. It demands a commitment to a vision that transcends traditional investment timelines, offering the promise of revolutionary advancements. For those willing to embark on this journey, the rewards are not just in potential financial returns but in contributing to the advancements that could shape the future of our society.

The Rising Attraction of DeepTech Investments: Unique Technologies and Higher Returns

The investment landscape is witnessing a significant shift towards DeepTech, driven by its potential for higher returns and its inherent uniqueness. DeepTech companies, by their nature, delve into groundbreaking technological advancements, often protected by patents and intellectual property (IP) rights. This uniqueness not only differentiates them from the crowded space of software startups but also offers a layer of competition protection that is highly valued by investors.

High Returns and Competitive Moats

DeepTech investments are increasingly attractive due to the potential for substantial financial returns. The technologies developed within DeepTech sectors—ranging from biotechnology and advanced materials to artificial intelligence and quantum computing—have the power to disrupt industries and create entirely new markets. This transformative potential translates into significant financial opportunities for investors who are early supporters of such innovations.

Moreover, the complexity and proprietary nature of DeepTech innovations provide a competitive moat against potential rivals. Unlike software startups, which face risks of being quickly copied or outpaced by larger industry players, DeepTech companies often have the advantage of unique technology and IP protection. This not only makes them more resilient to competition but also more appealing to investors looking for businesses with sustainable competitive advantages.

The Draw of Uniqueness

Investors are drawn to DeepTech not just for its financial prospects but also for the uniqueness of the technologies involved. DeepTech startups are at the forefront of solving some of the world’s most pressing challenges, from climate change and sustainable energy to healthcare and transportation. The opportunity to invest in companies that not only promise attractive returns but also contribute to societal advancement is a powerful motivator for the growing interest in DeepTech.

In conclusion, the allure of DeepTech investments lies in their dual promise of higher returns and competitive protection through unique technologies and IP. As investors become more sophisticated in their search for opportunities that offer both financial rewards and a chance to be part of pioneering solutions to global challenges, DeepTech stands out as a sector ripe with potential.

The Academic Origins of DeepTech: A Legacy of Research and Innovation

The journey of DeepTech is often rooted in the hallowed halls of universities and research institutes, where the foundation of scientific development is laid. Unlike the quintessential garage startup stories of the tech world, DeepTech emerges from the depth of long-standing research experience and the vast expanse of scientific literature. This distinction underscores the intricate nature of DeepTech innovations, which are seldom born out of hobbyist projects but are the fruits of rigorous academic and research endeavors.

The Crucible of Innovation: Universities and Research Institutes

The genesis of many groundbreaking DeepTech companies can be traced back to academic spinoffs. Universities and research institutes serve as crucibles of innovation, where years, if not decades, of scientific research culminate in technologies that have the potential to redefine industries. These environments provide not only the intellectual capital but also the resources and infrastructure necessary to explore the frontiers of science and technology.

Standing on the Shoulders of Giants

The adage “standing on the shoulders of giants” is particularly apt for DeepTech ventures. The body of scientific research acts as a foundation upon which new innovations are built. Access to cutting-edge research, peer-reviewed studies, and the global scientific community’s collective wisdom is a prerequisite for the development of DeepTech solutions. This reliance on existing scientific advancements distinguishes DeepTech from many software companies, which can often iterate and innovate with less dependence on prior scientific work.

The Path Less Traveled

The path from academic research to a viable DeepTech company is fraught with challenges, from securing funding to navigating the intricacies of commercialization. However, the potential rewards are immense. DeepTech startups have the opportunity to not only create significant economic value but also address some of society’s most pressing issues, from climate change to healthcare.

In conclusion, the essence of DeepTech is intrinsically linked to the rich legacy of academic and scientific research. The journey from the lab to the market encapsulates a unique blend of intellectual rigor, innovation, and perseverance. As we look to the future, the role of universities and research institutes in nurturing the next generation of DeepTech ventures remains as critical as ever.

Energizing the DeepTech Ecosystem: The Role of the EIC in Catalyzing Investment

In the evolving landscape of technology and innovation, DeepTech startups represent the cutting edge of scientific and technological advancements. However, these ventures often face significant challenges in securing funding due to the high risks and long development timelines associated with DeepTech innovations. Recognizing this gap, the European Innovation Council (EIC) has emerged as a pivotal force in creating a thriving DeepTech ecosystem and attracting private investment to this critical sector.

The EIC’s Mission and Impact

The EIC’s mission is to support high-risk, high-impact innovations by providing both funding and strategic support to startups and Small- and Medium-Sized Enterprises (SMEs) across Europe. Through initiatives like the EIC Accelerator, which offers blended financing options including grants and equity investments, the EIC is breaking down the barriers that DeepTech startups face in moving from concept to market.

Incentivizing Private Investors

A key aspect of the EIC’s strategy is to incentivize private investors to pay closer attention to the DeepTech sector. By sharing the risk and providing a seal of approval, the EIC makes investing in DeepTech more attractive to private capital. This not only helps startups secure the necessary funding but also encourages a more innovation-friendly investment landscape in Europe.

The Ripple Effect

The EIC’s efforts in promoting DeepTech are creating a ripple effect, with more investors recognizing the potential for significant returns and societal impact. As awareness and understanding of DeepTech grow, so does the willingness of private investors to engage with startups in this space. This shift is crucial for the future of innovation, as it ensures that groundbreaking ideas have the financial support needed to become transformative technologies.

In conclusion, the European Innovation Council is playing a crucial role in fostering a supportive ecosystem for DeepTech innovation. By providing funding, facilitating access to resources, and incentivizing private investment, the EIC is helping to bridge the gap between scientific discovery and market success. The EIC’s initiatives are not only bolstering the DeepTech sector but are also setting the stage for the next wave of technological breakthroughs.

Unveiling the Pioneers of Tomorrow: A Deep Dive into Deep Tech Industries

The European Deep Tech Report 2023 presents a comprehensive overview of the burgeoning Deep Tech industries that are poised to redefine the technological and scientific landscape. These industries stand at the forefront of innovation, embodying the spirit of pioneering advancements that have the potential to address some of the world’s most pressing challenges. Here, we explore the key sectors that are shaping the future of Deep Tech.

Novel AI and Machine Learning

With a record year in funding, AI and machine learning continue to lead the charge in Deep Tech innovations. From general-purpose AI to GenAI model makers and quantum algorithms, the advancements in AI are not only enhancing computational efficiencies but are also revolutionizing industries across the board, including healthcare, automotive with autonomous driving, and even cybersecurity.

Future of Compute

The Future of Compute is another critical domain witnessing substantial growth, encompassing quantum computing and photonic integrated circuits. These technologies promise to unlock new potentials in computational power, significantly surpassing the capabilities of traditional computing architectures and opening up new realms for exploration in science and engineering.

Space Tech

The resurgence of interest in space exploration and technology is evident through increased investments in connectivity satellites, launch vehicles, Earth observation technologies, and satellite manufacturing. Space Tech is not just about exploring the unknown but also about harnessing space to improve life on Earth, offering solutions for global communication, environmental monitoring, and beyond.

Novel Energy

Addressing the global energy challenge, Novel Energy technologies are focusing on sustainable and renewable energy sources. Innovations in nuclear fusion and fission, supercapacitors, and fuel cells are underlining the shift towards cleaner energy solutions that aim to meet the world’s growing energy demands while mitigating the impact on the environment.

Computational Biology & Chemistry

The intersection of technology and biology is fostering groundbreaking developments in drug discovery, gene-based medicine, and AI solutions for life sciences R&D. These advancements are not only speeding up the process of discovering new drugs but are also enabling personalized medicine, thereby revolutionizing healthcare and treatment methodologies.

Advanced Materials and Robotics

The exploration of advanced materials, including graphene nanotubes and bioplastics, alongside advancements in robotics and drones, underscores the integration of physical sciences with engineering marvels. These technologies are paving the way for more efficient manufacturing processes, innovative products, and solutions to complex problems in various sectors, from industrial automation to sustainable manufacturing.

These industries, as highlighted in the European Deep Tech Report 2023, embody the essence of Deep Tech – a blend of cutting-edge scientific research and technological innovation aimed at creating a sustainable and advanced future. The focus on Novel AI, Future of Compute, Space Tech, Novel Energy, Computational Biology & Chemistry, alongside Advanced Materials and Robotics, showcases the diverse and dynamic nature of the Deep Tech ecosystem, which is set to drive the next wave of global progress.

As we stand on the brink of this new era of innovation, it is clear that Deep Tech industries hold the key to solving some of the most critical challenges facing humanity today. Through the continuous pursuit of knowledge and the relentless spirit of innovation, the promise of Deep Tech is not just to imagine the future but to create it.

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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.

This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.

Are you interested in hiring a writer to apply for grants in the EU?

Please feel free to reach out here: Contact

Are you looking for a training program to learn how to apply for the EIC Accelerator?

Find it here: Training

EIC Accelerator TL;DR

 

In the dynamic landscape of European Union (EU) funding, the European Innovation Council (EIC) has introduced notable changes under its 2024 Work Programme, directly impacting the application and evaluation process for funding. Among these adjustments, the elimination of the rebuttal process stands out, signifying a shift towards a more streamlined and independent assessment of proposals. This article delves into the implications of this change for startups and Small- and Medium-Sized Enterprises (SMEs) seeking EIC Accelerator funding, aiming to demystify the new approach and offer strategic guidance for applicants.

The Shift Away from the Rebuttal Process

Historically, the EIC Accelerator application process allowed applicants to address and “rebut” comments from previous evaluations in subsequent submissions. This rebuttal process enabled organizations to refine and improve their proposals based on specific feedback, theoretically increasing their chances of success in future rounds. However, under the 2024 EIC Work Programme, this mechanism has been removed. Consequently, there is no longer a structured avenue for applicants to incorporate improvements from previous submissions directly in response to evaluator comments.

Independent Evaluation of Proposals

A significant change accompanying the removal of the rebuttal process is the approach to evaluating proposals. Evaluators will no longer have access to any previous submissions or evaluation reports from earlier rounds. This ensures that each proposal is assessed independently, solely on its merits and in alignment with the standard Horizon Europe evaluation criteria. This change aims to level the playing field, ensuring that all applications, whether from first-time submitters or those reapplying, receive an unbiased review.

Incorporating Improvements in the Narrative

While the structured rebuttal process has been phased out, applicants retain the ability to refine their proposals based on past feedback. Improvements and enhancements can still be included in the narrative Part B of the application form. However, it is important to note that there is no specific format or section designated for this purpose. Applicants must therefore seamlessly integrate any adjustments into the overall proposal narrative, ensuring that the improvements are coherent and enhance the proposal’s overall quality and feasibility.

Strategic Implications for Applicants

This modification in the EIC’s evaluation process necessitates a strategic pivot for applicants. Startups and SMEs should focus on crafting a robust and compelling proposal from the outset, integrating continuous improvement as a core strategy rather than relying on specific feedback loops. Applicants are encouraged to:

• Conduct thorough self-assessment: Prior to submission, critically evaluate your proposal against the EIC’s criteria and objectives, identifying areas for enhancement without relying on external feedback.
• Leverage professional support: Engage with consultants, professional writers, or freelancers experienced in EU grant applications to refine your proposal, ensuring it aligns with the EIC’s current priorities and standards.
• Emphasize innovation and impact: With each proposal evaluated on its own merits, highlight your project’s innovation, market potential, and societal impact, making a compelling case for EIC funding.

Conclusion

The 2024 EIC Work Programme introduces a paradigm shift in how proposals are evaluated, with the removal of the rebuttal process underscoring a move towards more independent and merit-based assessments. While this change challenges applicants to adapt, it also opens opportunities to present their innovations in the best possible light, free from the shadow of previous submissions. By embracing a strategy of continuous improvement and leveraging professional expertise, startups and SMEs can navigate these changes successfully, positioning themselves strongly for EIC Accelerator funding.

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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.

This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.

Are you interested in hiring a writer to apply for grants in the EU?

Please feel free to reach out here: Contact

Are you looking for a training program to learn how to apply for the EIC Accelerator?

Find it here: Training

EIC Accelerator TL;DR

 

The European Innovation Council (EIC) Accelerator is a cornerstone of the EU’s commitment to fostering innovation and supporting startups and Small- and Medium-Sized Enterprises (SMEs) in bringing groundbreaking ideas to market. With the introduction of the EIC 2024 Work Programme, significant updates have been made to streamline processes and clarify the rules surrounding the submission and resubmission of proposals. This article aims to elucidate the new submission limits, offering a clear guide for entities aiming to secure funding through this competitive programme.

Simplified Submission Rules

The EIC 2024 Work Programme has introduced a more straightforward approach to the submission of proposals, addressing feedback and aiming to make the funding process more accessible. From the start of 2024, entities are allowed to submit up to three unsuccessful applications across any stage of the process and for any form of support. This includes:

• Short proposals
• Full proposals
• Challenge-specific calls
• Open calls
• Grant only
• Blended finance (combinations of grant and equity)
• Equity only

This simplification means that applicants have three chances to secure funding, regardless of the stage or type of support applied for, before being precluded from further submissions under Horizon Europe’s EIC Accelerator.

Resubmission After Rejection

A noteworthy aspect of the new rules is the provision for resubmission following a rejection at the full proposal stage. Applicants who do not succeed at this stage are permitted to resubmit their proposal directly to the full proposal stage, bypassing the short proposal phase, provided they have not reached their three-application limit. However, direct resubmission to the interview phase is not allowed under any circumstances.

Practical Examples

To offer clarity, the Work Programme outlines several scenarios:

• After one rejection at the full proposal stage (whether during the remote evaluation or the interview), an entity may submit two more full proposals.
• Following two rejections at the interview stage, an entity is still eligible to submit a full proposal and could potentially be invited for a third interview.
• If an entity has been rejected once at either the full proposal or interview stage and once at the short proposal stage, they are entitled to one more submission at the full proposal stage.

It’s important to note that the counter for unsuccessful applications resets to zero on 1 January 2024. This reset offers a fresh start for entities that may have previously reached their submission limit, providing new opportunities for funding under the Horizon Europe framework.

Implications for Applicants

These updated rules aim to balance the EIC Accelerator’s competitive nature with the need for flexibility and multiple opportunities for funding. Applicants should strategically plan their submissions, taking into account the feedback received from previous applications to strengthen their proposals. Engaging with professional writers, consultants, or leveraging the EIC Accelerator’s official proposal template can enhance the quality of submissions.

Furthermore, applicants should remain mindful of the submission cap, prioritizing the refinement and improvement of their proposals with each attempt. The opportunity to resubmit directly to the full proposal stage after rejection is a significant advantage, allowing entities to address feedback and improve their applications without starting from scratch.

Conclusion

The EIC 2024 Work Programme’s simplified rules on submission and resubmission signify a positive step towards making EU funding more accessible to innovative enterprises. By understanding these regulations and strategically planning their applications, startups and SMEs can maximize their chances of securing the vital support needed to bring their innovations to the European and global markets.

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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.

This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.

Are you interested in hiring a writer to apply for grants in the EU?

Please feel free to reach out here: Contact

Are you looking for a training program to learn how to apply for the EIC Accelerator?

Find it here: Training

EIC Accelerator TL;DR

 

The European Innovation Council (EIC) Accelerator program stands as a system of support for startups and Small- and Medium-Sized Enterprises (SMEs) across Europe, aiming to fuel innovation and technological advancement. With its latest results published on February 28th, 2024, the EIC Accelerator has once again demonstrated its commitment to fostering groundbreaking projects with a total budget allocation of €285 million. This analysis delves into the distribution of grants and blended financing, the success rates across different stages, and the geographical spread of the winning companies.

Funding Breakdown: A Closer Look at the Allocation

In the latest funding cycle, the EIC Accelerator has supported 42 companies, showcasing a diverse range of financing options tailored to meet the varied needs of Europe’s innovators. The distribution of funding types is as follows:

• Grant First: 12 companies (29%) were awarded grants as an initial funding step, highlighting the EIC’s flexibility in supporting early-stage innovations.
• Blended Finance: Dominating the funding landscape, 26 companies (62%) received blended finance, combining grants and equity to provide a robust backing for ventures ready to scale up.
• Equity Only: A single company (2%) secured equity financing, underscoring the EIC’s role in taking a stake in promising enterprises.
• Grant Only: 3 companies (7%) received grants without the equity component, focusing on projects with specific needs that can be met with direct funding.

The Path to Success: Analyzing the Success Rates

The EIC Accelerator’s selection process is rigorous, designed to identify projects with the highest potential impact. The success rates at each stage of the application process are as follows:

• Step 1: Approximately 70% of applicants pass this initial stage, though exact figures are not disclosed.
• Step 2: Only 22% of projects make it through, reflecting the increasing scrutiny applications undergo.
• Step 3: The final step sees a further narrowing, with a 17% success rate.
• Combined Success Rates: The cumulative success rate for applicants passing through Steps 2 and 3 is a mere 3.9%, while the overall success rate across all three stages is approximately 2.7%.

Geographical Diversity: A Pan-European Impact

The latest round of funding has benefited companies from 15 different countries, showcasing the EIC Accelerator’s pan-European reach. Germany leads the pack with 7 companies funded, followed closely by France with 6, and Spain and Sweden each with 5. Other countries with successful applicants include Finland (4), Italy (3), Israel (2), Netherlands (2), Norway (2), and several others with one company each, demonstrating the EIC’s commitment to fostering innovation across the continent.

Conclusion

The EIC Accelerator’s latest funding results highlight the program’s critical role in supporting the European innovation ecosystem. With a total budget of €285 million, the program has backed 42 companies across a wide range of sectors and countries, underlining the diversity and potential of Europe’s technological landscape. As the EIC Accelerator continues to evolve, its impact on fostering groundbreaking projects and scaling up SMEs is undeniable, making it a cornerstone of Europe’s innovation policy.

With meticulous attention to supporting diverse financing needs, rigorous selection processes, and a commitment to geographical inclusivity, the EIC Accelerator is paving the way for a more innovative and resilient Europe. As we look forward to future rounds of funding, the results from February 2024 serve as a testament to the vibrant entrepreneurial spirit that thrives across the continent.

Funding Data

Type of Funding

• Grant first: 12 companies (29%)
• Blended finance: 26 companies (62%)
• Equity only: 1 company (2%)
• Grant only: 3 companies (7%)
• Total: 42 Companies

Budget

• Total Budget: €285 million

Cut-Off Date and Results

• EIC Accelerator Step 2 cutoff date: November 8^th 2023
• Publication of results: February 28^th 2024

Success Rates

• Step 1: (approximately 70% since results are not published)
• Step 2: 22%
• Step 3: 17%
• Step 2 & Step 3 combined: 3.9%
• Step 1 & Step 2 & Step 3 combined: (approximately 2.7%)

Funded Countries

There are 15 different countries among the funded companies.

• Germany: 7 companies
• France: 6 companies
• Spain: 5 companies
• Sweden: 5 companies
• Finland: 4 companies
• Italy: 3 companies
• Israel: 2 companies
• Netherlands: 2 companies
• Norway: 2 companies
• Belgium: 1 company
• Bulgaria: 1 company
• Denmark: 1 company
• Ireland: 1 company
• Portugal: 1 company
• Slovakia: 1 company

All 42 EIC Accelerator Winners from November 8^th 2023

Company	Acronym	Description	Country	Year
D-CRBN BV	D-CRBN	Plasma-based point-source CCU technology to recycle CO2 into added value chemicals to decarbonize hard- to-abate industries	Belgium	2023
Smart Farm Robotix OOD	RoboAIweeder	A fully autonomous solar-powered lightweight weeding robot, using AI for plant recognition, precision contact and contactless weeding methods suited for hard soils, hilly terrains and arid climates.	Bulgaria	2023
Golden Devices GmbH	ACTIVATING	Additive Manufactured Automotive Antenna for Autonomous Driving	Germany	2023
UniverCell Holding GmbH	C2C-CSA	Customized 21700 cylindrical cells for special applications	Germany	2023
FERROELECTRIC MEMORY GMBH	Fe-NVRAM	Solving the scaling challenge of the memory industry: high-speed, low-complexity and low-cost non-volatile ferroelectric memory (Fe-NVRAM) made in EU	Germany	2023
QUBEDOT GMBH	iSMILE	iSMILE - integrated scalable microLED engines	Germany	2023
Lumoview Building Analytics GmbH	LumoGen1	Pioneering automated building digitisation with Lumoview for empowered decision-making in energy- efficient building renovation	Germany	2023
Omegga GmbH	Omegga	The world's first low-cost in-ovo sexing solution to finally end chick culling	Germany	2023
O11 biomedical GmbH	RESPILIQ	RESPILIQ - enteral CO2 absorption for the therapy of hypercapnic lung failure	Germany	2023
HYME STORAGE APS	HYSE	HYdroxide Salt Energy Storage Innovation	Denmark	2023
AptaTargets, S.L.	ApTOLL	ApTOLL: An innovative neuroprotectant to reduce brain damage in Acute Ischemic Stroke (AIS)	Spain	2023
FASTBASE SOLUTIONS SOCIEDAD LIMITADA	IOO - Improving IO	IOO: a novel assay to predict patient response to immune checkpoint inhibitors, optimising patient stratification to these therapies and tripling solid tumour patient outcomes in immuno-oncology.	Spain	2023
LUXQUANTA TECHNOLOGIES SL	MIQRO	Scalable Quantum Cryptography for Ultra-secure Communications in Metropolitan Networks	Spain	2023
PLEXIGRID SOCIEDAD LIMITADA	Plexigrid	Plexigrid: Plexar Operated Grids	Spain	2023
ALIAS ROBOTICS S.L.	RIS	REVOLUTIONISING INDUSTRIAL ROBOTICS WITH THE NEXT GENERATION ROBOT-SPECIFIC AI-POWERED SECURITY PLATFORM	Spain	2023
IQM FINLAND OY	BIGQEC	Building industrial-grade quantum computers with error correction and mitigation capabilities	Finland	2023
SpinDrive Oy	MAGMA X100	The smallest, most affordable and efficient active magnetic bearings for ultra-high-speed applications	Finland	2023
Basemark Oy	Rocksolid AR	Making Driving Safer with Augmented reality	Finland	2023
VEXLUM OY	SEMIQLEAP	Novel Semiconductor Lasers for the Industrial Quantum Leap	Finland	2023
Look Up Space	ATLAS2	Acceleration Towards LEO Automatic Space Safety	France	2023
Defacto Technologies SAS	EmpoSoC	A Paradigm Change for System-on-Chip Design to Enable Higher Performance with Lower Time-to-Market and Cost	France	2023
ION-X	HYPERION	The Most Efficient Space Propulsion Ever Put in Space	France	2023
Qfluidics	QFLUIDICS	The first non-clogging continuous flow reactor technology	France	2023
Pertinent eco-solutions	VERANO	Groundbreaking biocontrol solutions for a resilient agriculture	France	2023
Womed SAS	WOMED	WOMED: an innovative intrauterine biodegradable polymer-based drug-delivery platform	France	2023
MBRYONICS LIMITED	StarCom OISL	StarCom Optical Inter-Satellite Link.	Ireland	2023
NECTIN THERAPEUTICS	NTX1088	First-in-class anti-PVR mAb NTX1088 - a novel oncology drug that unlocks the power of human immune system and revolutionizes cancer care	Israel	2023
Novelrad	NVCD	Minimally invasive suturing for vascular bore closure and heart defect repair	Israel	2023
BETAGLUE TECHNOLOGIES S.P.A.	BAT-90	A Novel ‘Radiotherapy from Within’ Platform Technology for the Targeted Treatment of Solid Tumours Called ‘BAT-90’	Italy	2023
MOI COMPOSITES SRL	CFM4Industry	Continuous Fiber Manufacturing for Industry	Italy	2023
SILK BIOMATERIALS SRL	KLISBio	Silk fibroin tissue grafting for peripheral nerve repair	Italy	2023
FLASC B.V.	FLASC HPES	A novel Renewable Energy Storage System tailored for Offshore Applications	Netherlands	2023
SALVIA BIOELECTRONICS BV	ReLife	A new life for people with severe disabling cluster headache: Neuromodulation therapy using safe, minimally- invasive simultaneous stimulation at the front and back of the head	Netherlands	2023
DoMore Diagnostics AS	Histotype Px	Precision biomarker based on digital pathology and artificial intelligence to guide fast and cost-effective personalized treatment decision support for colorectal cancer patients	Norway	2023
Ocean Visuals AS	OWL	Hyper-Spectral Laser Induced Fluorescence LiDAR to detect Submerged Oil over Water in real-time on a molecular level.	Norway	2023
DELOX - INVESTIGACAO, PROCESSOS E EQUIPAMENTOS CIENTIFICOS, LDA	DeloxAir	Delox Air - Continuous air bio-decontamination compatible with human presence	Portugal	2023
Cellfion AB	CNF Membrane	Development and manufacturing of forest-based membranes for electrochemical energy devices	Sweden	2023
Compular AB	COMPULAR	Advanced Simulation Software With Patented Method Optimised For Battery Development	Sweden	2023
Millow AB	MEATLOW	Innovative patented dry fermentation technology for cost-effective and highly nutritious production of hybrid mycelium-plant meat analogues	Sweden	2023
GEDEA BIOTECH AB	pHyph	Breakthrough dual-action OTC tablet for treatment and prevention of both bacterial and fungal vaginitis	Sweden	2023
QLUCORE AB	QIandQD	The first IVDR-approved commercial software solutions for AI-powered RNA-based companion and precision cancer diagnostics of acute myeloid leukaemia and bladder cancer	Sweden	2023
POWERFUL MEDICAL s. r. o.	OMI AI ECG Model	OMI AI ECG Model - application for more accurate heart attack diagnosis	Slovakia	2023

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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.

This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.

Are you interested in hiring a writer to apply for grants in the EU?

Please feel free to reach out here: Contact

Are you looking for a training program to learn how to apply for the EIC Accelerator?

Find it here: Training

EIC Accelerator TL;DR