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European Innovation Council Pilot (EIC)

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Presentation on theme: "European Innovation Council Pilot (EIC)"— Presentation transcript:

1 European Innovation Council Pilot (EIC)
SME Instrument

2 Comprehensive Scheme European Innovation Council Pilot
€ 3 billion in funding over the period Soft Blending Phase-2 SME-Instrument Phase-1 SME-Instrument Fast Track to Innovation FTI FET OPEN Future Emerging Technologies Innovative Idea Test & Co-create Feasibility Start-up Development Scale-up Investment EIC Horizon Prizes: Awarded to the most innovative solutions to societal challenges

3 Smart Money SME Instrument Equity Free Funding World-Class Coaching
Business Acceleration Services Phase-1 – € for feasibility assessment Phase-2 – 0.5 to 2.5€ million for innovation development & demonstration Business coaching of up to 12 days Support innovation capacity and strategic needs Networking with top- level investors and partners Support to product launch on International markets

4 Targeting Game Changers
SME Instrument Targeting Game Changers Companies we are looking for Using three identification criteria Implementation Highly innovative SMEs with ground-breaking concepts Team's capability and motivation to bring the innovation to the market Impact Solid business model and commercialisation strategy Sound financial planning Capacity to shape new markets or disrupting existing ones Excellence Potential to create new market or significantly impact existing ones Right timing (i.e. feasibility) High-growth potential with European and global ambitions

5 Connecting Businesses
SME Instrument Adapted to the Market Open Call Fast & Easy High Risk Across the Board Market-Oriented Selection Connecting Businesses

6 Adapted to the Market SME Instrument
Open Call Fast & Easy Open call with 8 evaluation round per year Funding in 3 months for Phase-1 and 6 months for Phase-2

7 Submission of proposals
SME Instrument – Evaluation Changes introduced by the EIC WP Submission of proposals Fully bottom-up approach Phase 1 & 2 Revised weighting of award criteria Revised threshold Phase 1 & 2 Remote Evaluation Phase 2 Highest-scoring proposals invited to interview (twice the budget available) Ranking of Proposals Phase 2 Interview Face-to-Face Interview in Brussels Phase 2 Grant Agreement

8 Adapted to the Market SME Instrument
High Risk High-risk, high potential innovation Creating new markets or revolutionising existing ones

9 Adapted to the Market SME Instrument
Across the Board Innovation from all sectors of the economy or topics

10 Adapted to the Market SME Instrument Simple submission procedure
Market-Oriented Selection Simple submission procedure Selection based on excellence, impact & implementation

11 Connecting Businesses
SME Instrument Adapted to the Market Connecting Businesses Wide community of beneficiaries Networking opportunities with investors & partners

12 Tangible Results SME Instrument
SME Instrument-funded companies outperform industry average investment in various sectors 6.7 6.1 5.5 5.7 Attracted investment in € million 5.4 5.5 5.2 Average investment SMEI 3.8 4.0 3.5 3.2 3.4 3.2 3.0 Average investment in the industry 2.3 2.4 2.4 2.1 Home Robotics Analytics Marketing Developer tools Publisher tools Construction Directory Sports

13 Tangible Results 2954 1 667 1.4 1.2 12 694 6 SME Instrument
Companies in our portfolio € billion private funding attracted for 694 mln paid 2954 1 Phase-2 projects financed € private capital matched for every Euro of SMEI funding 667 1.4 € billion committed Acquisitions among beneficiaries in 2017 1.2 12 € million paid out 694 6 IPOs among beneficiaries in 2017

14 Results in Lithuania € SME Instrument 21 Participants
5 € Million Allocated 25 Projects Coordinated


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