The EIC Accelerator program, part of the Horizon 2020 R&D program, is financed by the European Commission to support startups and SMEs with highly disruptive innovative projects. The programme awards up to a 2.5 Million Euro grant over 24 months and up to 15 Million Euro in equity funding.
Israel, as an associated country to the H2020 programme, has access to up to 17.5 Million Euro of funding per company applying.
However, the programme is extremely competitive with a ~3% success rate per submission cut-off. Therefore, a thorough preparation is required to submit a proposal, made of a thirty-page business plan as well as different appendices (including pitch deck, financials...) that needs to showcase the project’s technical superiority, go-to-market plan and execution capabilities.
The proposal is first evaluated remotely by four independent expert evaluators from the European Commission and the companies with the highest ranking proposals are invited for an interview in Brussels in front of a jury of experts (venture capitalists, business angels, entrepreneurs). If the interview is successful, the grant is approved (for equity a due-diligence process is initiated). The entire process takes around six months from the submission of the proposal to the execution of the grant agreement. There are 4 cut-off dates for submission each year, and no limitations to the number of times a company can submit a proposal
Although Israel is not part of the EU, it has been very successful with the programme: 45 Million Euros were allocated between 22 Israeli companies in 2019 in the previous version of the programme.
More recently, at the first round of the new EIC Accelerator instrument in October, Israel ranked number 1
(tied with Switzerland) with 9 Israeli companies receiving total funding of €53M in this round alone. Zaz Ventures has supported 203 funded proposals
since the start of the H2020 program, for a total funding of €265M. In the most recent EIC Accelerator round, 9 of our clients were awarded €44M of funding.
We work exclusively on a no-win-no-pay model
, a challenging undertaking when considering the highly competitive nature of the programme. Our methodology allows us to reach 5 times the average success rate based on:
- Stringent initial qualification: eliminating up to 80% of cases that do not fit our standards
- Thorough due diligence: making sure we are ready to spend a significant amount of time (400 hours +) at our own cost and risk
Zaz Ventures has partnered with Stephan Kruczyk in Israel and both are accredited consultants of ISERD. Therefore, a local company choosing to work with us to prepare an EIC Accelerator proposal is entitled to the ISERD Masloul 37A grant (NIS 40,000) in order to benefit from the expertise of a local consultant (Stephan is a former evaluator of the program). More on the Masloul 37A in this Link
- Long-term support: understanding that cases can take up to 24 months to come to fruition