Introduction
Securing funding from the European Innovation Council’s (EIC) Accelerator program is often likened to a numbers game. This perception stems from the inherent randomness in the evaluation process, making precise prediction of successful applicants a challenging task, even for expert consultants. This article explores why increasing the number of applications is seen as a key strategy for success in this competitive landscape.
Randomness in Evaluation
The EIC Accelerator’s evaluation process involves a level of unpredictability. With diverse evaluators from various backgrounds, the assessment of applications can vary, leading to an element of randomness in the selection of winners. This uncertainty makes it difficult for consultants to accurately predict which applications will succeed, regardless of their expertise and experience.
Strategy of Volume
In light of these challenges, a common strategy adopted by many applicants, often guided by consultants, is to increase the number of applications submitted. This approach is akin to playing the numbers game – by submitting multiple applications, either in different funding rounds or with varied project focuses, applicants hope to improve their chances of success.
Conclusion
The EIC Accelerator, with its low acceptance rate and unpredictable evaluation process, demands a strategic approach. While expert consultancy can provide significant advantages in crafting high-quality applications, the randomness in selection often turns the process into a numbers game. For startups and SMEs, understanding this dynamic and adopting a volume strategy, along with expert guidance, can be a practical way to navigate the competitive world of EIC funding.
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.
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