Fast Track Scheme to Apply for the EIC Accelerator
The ‘Fast Track’ scheme is a specialized process designed specifically for the EIC Accelerator, a crucial component of the European Innovation Council (EIC) funding ecosystem. This scheme offers expedited processing for proposals stemming from existing Horizon Europe or Horizon 2020 projects, enabling innovators to leverage previous work and propel their projects forward more efficiently.
Overview of the Fast Track Scheme
The Fast Track scheme allows applicants to bypass the typical EIC Accelerator call and instead proceed through a streamlined evaluation process. Instead of submitting directly to the EIC Accelerator, a project review is conducted by the responsible granting authority or national funding body that assesses the innovation potential and market readiness of the existing project. This approach serves to optimize the time and resources necessary for high-quality proposals and helps ensure that the most promising ideas receive the attention they deserve.
Understanding the EIC Funding Landscape
Within the broader scope of EIC funding, the Accelerator focuses on supporting SMEs and startups with high-risk, high-potential innovations. This is distinct from other EIC programs like the EIC Pathfinder, which aims at developing breakthrough technologies, and the EIC Transition, which focuses on developing innovative ideas into marketable products. The Fast Track scheme thus serves as an important bridge for projects already under the Horizon umbrella to transition smoothly into further stages of development.
Project Review Process
The project review process under the Fast Track scheme is designed to be rigorous and independent. It adheres to specific criteria to ensure that only the most promising applications progress. The following points outline this critical assessment:
- The award criteria align with those established for the short application stage of the EIC Accelerator, emphasizing both excellence and impact, as detailed in Section IV.
- A detailed project review must be conducted within the previous two years, ensuring compliance with Article 48 of the Horizon Europe Regulation and the need for an unbiased evaluation.
Eligibility and Submission of Project Review Outcomes
For the outcomes of the project review to be submitted to the EIC Accelerator, certain conditions must be satisfied:
- The proposal must meet the fundamental excellence and impact criteria that the EIC Accelerator requires.
- It is essential to confirm that there is no duplication of EU grants for activities supported under the existing grant, ensuring transparency in funding allocation.
- The applicant must fulfill the eligibility criteria outlined for the EIC Accelerator, showcasing their readiness for further funding opportunities.
Next Steps for Fast Track Applicants
Upon receiving a successful review outcome, Fast Track applicants will be prompted to prepare a comprehensive proposal for the EIC Accelerator. It’s essential to acknowledge that these applicants will be subject to the same submission limits and guidelines as all other EIC Accelerator applications. Therefore, understanding the EIC Accelerator application process, including the evaluation criteria, is vital for crafting a proposal that stands out.
Coaching and Assessment Services
Fast Track applicants have the advantage of receiving coaching services as detailed in Section IV. This guidance is crucial for navigating the complex EIC Accelerator funding landscape, including insights into best practices for EIC Accelerator application writing. Full proposals submitted via the Fast Track will be evaluated according to uniform standards, similar to all other full proposals, ensuring a fair assessment process.
EIC Accelerator Evaluation Criteria
The evaluation of full proposals hinges upon several key factors, including innovation novelty, technological feasibility, market potential, and the overall impact on the target sector. Understanding these evaluation criteria is essential for applicants. Implementing effective tips and strategies during proposal writing can significantly enhance the likelihood of a favorable outcome.
Conclusion: Maximizing Opportunities Through the Fast Track Scheme
The Fast Track scheme presents a unique opportunity for startups and SMEs engaged in Horizon Europe or Horizon 2020 projects to access EIC Accelerator funding. By leveraging existing work and undergoing a structured review process, applicants can maximize their chances of success while minimizing the time needed to secure vital funding. As the EIC Accelerator grants non-dilutive funding options, this is particularly advantageous for deep tech startups looking to maintain ownership while scaling operations. For those planning to apply, it is crucial to be well-informed about the EIC Accelerator application deadline for 2025, to prepare a robust proposal, and to consider potential case studies and insights from past successful applications.