EIC Accelerator: How Deep Tech Companies Can Prepare for Scaling and Accessing European Funding

Scaling deep tech innovations requires more than a working technology. Companies also need to be ready to bring their solutions to market, secure additional funding, and prepare their teams for further growth. On September 18, during the online session “EIC Accelerator for Disruptive SMEs: From Breakthrough Innovation to Scale-up,” participants explored the key opportunities available through the EIC Accelerator program. 

Íñigo Larraza, PhD, Innovative SMEs Area Manager at iPlusF, was the speaker at the session. He shared practical insights from his work with the EIC Accelerator and outlined the key criteria that innovative companies should consider when preparing their applications.

EIC Accelerator Is About More Than Technology

The program is designed for companies developing breakthrough technologies that already have a foundation for further development and demonstrate the potential to scale in a significant market.

As Íñigo Larraza noted, the key question is not only whether the technology works, but also whether the company can overcome the barriers to industrialization and scale its solution in line with market needs. This is why the program assesses not only the technological component but also the company’s readiness for the next stage of development.

One of the distinctive features of the EIC Accelerator is the combination of grant and investment components. Grant funding is primarily intended to support the further development, demonstration, and validation of an innovation, while the equity component helps companies move towards the next stages of commercialization and scaling.

According to the speaker, combining these instruments can be a suitable approach for many companies. At the same time, EIC Accelerator support goes beyond funding: the program also provides access to business coaching and mentoring, investors, international markets, and a broad innovation ecosystem.

What Makes a Strong Application

During the session, the speaker highlighted three key areas assessed in an application:

Technological excellence
A company needs to clearly explain what makes the technology a breakthrough, how ready the solution is for further development, and what technological ambition the project has.

Potential impact
It is important to demonstrate the market opportunity, the path to commercialization and scaling, as well as the project’s potential broader impact.

Implementation — the ability to deliver the project
The evaluation covers the team, implementation plan, resources, and risks. Companies should also pay particular attention to explaining why EIC support is necessary at this stage of their development.

In other words, a strong application should demonstrate not only what has been developed, but also what problem it solves, who it is for, how it can be scaled, and why the company is ready to take the next step now.

When Is a Company Ready for the EIC Accelerator?

The EIC Accelerator should be viewed as more than a source of funding for technology development. The program is aimed at companies that can already demonstrate a technological foundation, market potential, and the team’s ability to move towards scaling.

In particular, it is important to have evidence of market interest — such as customers, partners, or other indications of potential demand. For companies at different stages of development, such evidence may take different forms, but it should demonstrate that the technology has the potential to become a scalable business.

The EIC Accelerator is an opportunity for companies ready to move from technology development to scaling. Therefore, preparation should start not with the application itself, but with assessing the company’s readiness.

The Lviv IT Cluster and LEAP EDIH organized the session in partnership with iPlusF.

Co-funded by the European Union. Views and opinions expressed are, however, those of the author(s) only and do not necessarily reflect those of the European Union or European Commission. Neither the European Union nor the European Commission can be held responsible for them.