The EIC Accelerator Application Process
The EIC Accelerator is the European Innovation Council’s flagship programme for start-ups and SMEs. It provides blended finance to support the development of cutting-edge innovation projects with high growth potential.
Under Horizon Europe, the EIC Accelerator has a new 4-step application process:
1. Diagnostic Module
The Diagnostic module is a mandatory step in the application process. At this stage, you will answer a series of questions on your innovation. The Diagnostic will then assess the details you have provided to give an idea of your chances of success.
2. Short Application
There are five sections to complete within the short application:
- Firstly, you must supply general information about your proposal.
- Provide information about your company and CEO.
- Next, you should upload a pitch deck in pdf format. While there is no pre-defined template, it should not exceed ten slides.
- Upload a video up to 3 minutes long. In this video, the core members of your team (up to three people) should explain your innovation and the main motivation behind your application.
- Lastly, you must answer a series of questions that comprise a 5-page form. They cover the details of your innovation, your potential market, and your team. There is a limit of 1000 characters per section.
Your short application will be assessed remotely by four expert evaluators and you will receive the outcome within four weeks. They will each give a GO or NO GO. If at least two evaluators give a GO, your short application has been successful and you can move forward.
If you were unsuccessful, you can resubmit your proposal. You should make improvements in line with the feedback you received, as if your next application is rejected, you will not be allowed to resubmit for 12 months.
3. Full Application
The full application is in the form of an online questionnaire, comprised of three modules: Ideation, Development and Go 2 Market. You can find an indicative template of questions in the Guide for Applicants.
In addition, you will need to:
- Define the type of funding you are applying for - please note that UK entities are only eligible for the grant component.
- Submit a pitch deck – this should be different from the one in your short application. There is no pre-defined template nor limit of slides. However, remember that you will present this pitch deck if you get through to the face-to-face interviews.
- Complete the Financial Annex and use the 10 extra pages allowed to provide Letters of Intent or similar.
Full applications will be assessed after the set cut-off dates by three remote experts. To be successful, you will need all 3 of the remote experts to give a GO for all the criteria.
If 1 or more give a NO GO under any of the criteria, your application will be rejected. However, you will be eligible to resubmit an improved full application to one of the next two cut-offs. If rejected again, you may submit a new or significantly improved short application after 12 months.
4. Face to Face Interview
Interviews will take place remotely or in Brussels, approximately 8-9 weeks after the cut-off date. You can send a maximum of 3 representatives to the interview, where they will be assessed by a panel of up to 6 jury members.
The interview will last up to 40 minutes and include 10 minutes of presentation and a 30 minute Q&A to clarify aspects of your proposal. Following the interview, the jury members will prepare an Evaluation Summary Report that includes i) the evaluation outcome and ii) specific comments related to the three award criteria.
You will learn the interview outcome within 2-3 weeks. Successful applicants will then negotiate terms and sign an initial agreement for the grant component. If you requested an investment component, your company will simultaneously be subject to a due diligence process by the EIC Fund.
If your proposal is unsuccessful, you may resubmit based on the following rules:
- First rejection: resubmit an improved full proposal to the remote evaluation at one of the two following cut-offs
- First rejection and the jury decides your proposal is a potential GO after improvements: you will be able to resubmit a revised proposal directly to one of the next two interview sessions
- Second rejection: after 12 months, you may submit a new or significantly improved short application
About RedKnight
Our team can support both short and full applications. Contact us to arrange a free consultation where we can discuss your project’s suitability for the EIC Accelerator.
Source: EIC Accelerator Guide for Applicants
Horizon Europe Releases Main Work Programme
The European Commission has adopted the main Horizon Europe work programme for 2021-2022! Over the next two years, the European Commission will invest €14.7 billion in the research and innovation priorities set out in the Strategic Plan.
What will it fund?
The work programme shows a clear intention to accelerate Europe’s green and digital transitions while working towards a sustainable post-coronavirus Europe.
Of the funding available, over a third - €5.8 billion - will be invested in research and innovation to support the European Green Deal, while another €4 billion will fund the development of core digital technologies. Finally, around €1.9 billion will fund research and innovation to help repair the immediate economic and social damage caused by the coronavirus pandemic.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said:
“With 40% of its budget devoted to making Europe more sustainable, this Horizon Europe work programme will make Europe greener and fitter for the digital transformation. Horizon Europe is now fully open for business: I would like to encourage researchers and innovators from all over the EU to apply and find solutions to improve our daily lives.”
Background
Horizon Europe is the EU’s €95.5 billion research and innovation programme for 2021-2027 and the successor of Horizon 2020. Significantly, the UK will have ‘Associated Country’ status. This means that UK entities will be able to access funding on equivalent terms as organisations in EU countries.
The programme has three ‘pillars’: 1) Excellent Science, 2) Global Challenges and European Industrial Competitiveness and 3) Innovative Europe. For more information about what comes under each pillar, click here.
Funding is available for a wide variety of research and innovation areas, such as health, ICT and climate change. In addition, funding is available to all sectors through the European Innovation Council.
Next Steps
The first calls for proposals will open on the Commission’s Funding and Tenders Portal on 22nd June. Additionally, Horizon Europe Information Days targeting potential applicants will take place between 28th June and 9th July.
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“My Innovate UK application was unsuccessful – what should I do next?”
You invested significant time in preparing an Innovate UK grant application, only to receive a rejection. If you've found yourself in this situation, you might be wondering, what next?
This is a question that we have begun to hear more and more often, with grant funding competitions now more competitive than ever before. From our experience, we would recommend taking the following steps:
1. Put it into perspective
Even excellent proposals can be rejected. RedKnight has supported a number of applications that have passed the competition threshold but haven’t received funding. Remember that rejection is not always because of your proposal; the competition's budget may not be large enough to fund every worthy application.
2. Work through the feedback
The assessors that read your application will score your answers to questions 2 to 11. You will receive feedback for each of these questions which will help you to understand why your application was unsuccessful.
We recommend taking some time to digest the feedback that you’ve received. Make sure that you understand all the points that the assessors have made and start to identify the areas of your application that need work. If numerous assessors were critical of a particular section, this is a good place to start.
3. Consider a resubmission
You can make a maximum of 2 applications to Innovate UK with any given proposal. If your first attempt was unsuccessful but scored quite well, this might be a good option for you. Use the feedback that you received from the assessors to improve your application, thereby increasing your chances of success.
4. Consider alternative innovation funding competitions
Are your chances of success better elsewhere? For instance, if you applied for an Innovate UK Smart Grant, you would have been in competition with applications from many different areas of technology. Instead, you could look into sector-specific competitions, as they tend to receive fewer applications. For example, the Biomedical Catalyst is a good option for companies developing innovative healthcare products, technologies, and processes.
If you have already received two rejections from Innovate UK, you could also consider alternative funding streams. Some European funding competitions may be suitable, such as the EIC Accelerator.
5. Ask for help
If you lack the time or expertise to make the improvements needed to your application, a grant funding specialist will be able to help. This takes the stress out of your hands, while also increasing your chances of success. They can also recommend alternative competitions that better suit your project.
Contact us
Our team of grant funding specialists has over 50 years of experience, working with over 150 organisations and accessing more than £50m of grant funding. They would be pleased to help you prepare a resubmission, increasing your chances of securing funding next time. If you’ve recently been rejected for Innovate UK funding and would like our help, please contact the team to arrange a free consultation.
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Smart Grants: Innovate UK makes £25 million available for disruptive innovations
Innovate UK has announced that a new round of Smart Grants will open on 28th May, with a deadline of 25th August 2021. £25 million will be available for disruptive R&D innovations that could significantly impact the UK economy.
Scope
Smart is Innovate UK’s "Open grant funding" programme. Applications can come from any area of technology and be applied to any part of the economy. This includes the creative industries, science or engineering, and the arts, design and media. Projects can overlap with the grand challenge areas, although Innovate UK is also keen to support projects in other areas.
Your proposal must demonstrate:
- A clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services
- An idea that is significantly ahead of others in the field, set for rapid commercialisation
- A strong and deliverable business plan that addresses (and documents) market potential and needs
- A clear, evidence-based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- A team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- Awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
- Clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
- Sound, practical financial plans and timelines that represent good value for money, which will always be a consideration in Innovate UK funding decisions.
Eligibility
Your application must include at least one SME; they can be the lead or a collaborative grant claiming partner. The project must start no later than 1 February 2022 and end no later than 31 January 2025.
Your project must also follow specific rules based on its duration:
- Projects with durations between 6 and 18 months must have total eligible project costs between £25,000 and £500,000. They can be single or collaborative projects.
- Projects with durations between 19 months and 36 months must have total eligible project costs between £25,000 and £2 million. In contrast to shorter projects, they must be collaborative.
RedKnight Consultancy has significant experience in supporting applications for Innovate UK Smart Grants. You can view one of our most recent success stories here. For our assistance in putting together a competitive proposal, please contact us today.
If you’re looking for further help, download our free application guide today! Drawing on our extensive experience with Innovate UK, it will take you through each of the application questions and explain what an assessor is looking for.
£7 million available for sustainable plastic packaging solutions
Innovate UK will invest £7 million in sustainable plastic packaging solutions in order to deliver the 2025 UK Plastics Pact targets. This funding is from the Smart Sustainable Plastic Packaging Programme, which is part of the Industrial Strategy Challenge Fund.
Scope
Funding is available to address widely known problems related to plastic packaging for consumer products. Therefore, all projects should improve the sustainability of the plastic packaging supply chain and contribute towards delivering the targets of the UK Plastics Pact.
Projects can focus on one or more of the following themes:
- The minimising or reduction of plastic packaging
- Packaging suitable for reuse, refill and online delivery
- Sustainable solutions for film and flexibles
- Food grade recycled polypropylene and polyethylene
- Behaviour change leading to less packaging waste or higher recycling rates
- Solutions that address the UK Plastics Pact target for problematic or unnecessary single use plastic packaging items
However, this is not an exhaustive list and Innovate UK will also consider other innovative projects.
Eligibility
To lead a project or work alone, your organisation must be a UK registered business. You can collaborate with other organisations, including businesses, academic institutions, charities, and research organisations. In addition, you should conduct all project work in the UK and intend to exploit your results from or in the UK.
All projects must:
- Claim a grant between £200,000 and £4 million
- Start in early 2022 and end by 32 March 2025
- Last between 12 and 36 months
The Smart Sustainable Plastic Packaging competition is open from 18th May until 8th September. For more information or to submit an application, click here. If you’re looking for bid writing support, please contact us to arrange a free consultation.
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Funding available to develop solutions to fusion energy challenges
A new Small Business Research Initiative (SBRI) competition, funded by the UK Atomic Energy Authority, aims to encourage innovation in the fusion industry. Organisations can apply for a share of £2 million to develop solutions to fusion energy challenges in two key priority areas (outlined below).
This is phase 1 of a potential 2 phase competition, where only successful applicants from phase 1 will be able to take part in phase 2. However, a decision to proceed with phase 2 will depend on the outcomes from phase 1 and assessment of a separate application into a subsequent phase 2 competition.
Scope
Your proposal must demonstrate the feasibility of your project and relate to one of the key priority areas:
1) Accelerating fusion power plant design with next-generation digital tools
2) Reducing fusion power plant fuel requirements with advanced production and handling technology for Hydrogen isotopes
For more information on what this should involve, click here. Innovate UK will prioritise applications that help the innovation be formally accepted for future use in a fusion plant environment, for example by obtaining relevant regulatory certificates or approvals during phase 2. In addition, they will favour innovations that consider sustainability as part of their technology development.
Eligibility
- Firstly, phase 1 contracts must have total costs between £50,000 and £250,000, inclusive of VAT.
- Projects can last up to six months; they should start by 1st September 2021 and end by 31st March 2022.
- Contracts will only be awarded to a single legal entity. However, you can employ specialist consultants or advisers if you can justify subcontracting components of the work.
The competition is open from 17th May until 30th June. You can find more information on the competition page. Alternatively, to discuss an application with one of our innovation funding specialists, please contact us today.
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Biomedical Catalyst 2021: £18 million available for innovative life science companies
Innovate UK will reopen the Biomedical Catalyst on 7th June 2021. UK-registered companies will be able to apply for a share of £18 million to develop their novel healthcare products, technologies and processes.
The Bioindustry Association (BIA) has welcomed the announcement of additional funding. Steve Bates OBE, Chief Executive, said:
“The Biomedical Catalyst is a key source of early-stage funding for UK bioscience companies to help them scale scientific ideas into products and therapies for patients. We are delighted that the Government, UKRI and Innovate UK have listened to the life sciences community and see the benefit of pump priming the translation of UK life science innovation into economic benefit for the nation in continuing to support this tried and tested programme.”
Background
The Biomedical Catalyst is a funding programme with three key objectives:
- Deliver growth to the UK life sciences sector
- Deliver innovative life sciences products and services into healthcare more quickly and effectively
- Provide support to academic and commercially led research and development
An Ipsos MORI report concluded that the Biomedical Catalyst has successfully met its objectives. Since its inception in 2012, It has offered strong value for money, increased companies’ R&D investment by 93%, and increased employment by 11 to 15 percent over 3 to 5 years.
Scope
This competition combines the early and late-stage strands of the Biomedical Catalyst. The aim of an early-stage award is to create a data package that is sufficient to support the testing of your product or process in a clinical setting or another relevant environment. In contrast, the late-stage award is designed to test a well-developed concept and show its effectiveness in a clinical setting or another relevant environment. It should therefore build on prior credible research on a product prototype or process.
Projects can focus on any health and care sector or discipline, for example:
- Medical technologies and devices
- Stratified healthcare
- Advanced therapies (gene and cell therapies)
- Digital health
- Drug discovery
- Diagnostics
In particular, Innovate UK will welcome applications that support innovation in the following areas: child health technologies; innovations that support clinical trials in the UK; biomedical innovations that combat the threat of antimicrobial resistance.
Eligibility
Firstly, your project must have total eligible costs between £250,000 and £4 million. It should start from 1st April 2022 and last between 12 and 36 months. To lead a project or work alone, your organisation must fulfill the following criteria:
- Be a UK registered SME
- Carry out its project work in the UK
- Intend to exploit the results from or in the UK
You can collaborate with the following types of organisation: UK-registered businesses of any size, academic institutions, charities, not-for-profits, public sector organisations, or research technology organisations. However, large companies will not be eligible for grant funding.
This competition closes on 26th August 2021. If you’re looking for bid writing support, please contact us to arrange a free consultation.
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Funding available for hydrogen transport demonstrations
Innovate UK has announced a new competition to demonstrate the use of green hydrogen in transport. The competition is funded by the Department for Transport as part of the UK Government’s ambition to build a fully operational hydrogen transport hub by 2025.
Up to £2.5 million is available for demonstrations of hydrogen-powered vehicles in real-world operational settings across Tees Valley. The competition aims to further the UK’s understanding of how hydrogen can support the long-term development of the Tees Valley Hydrogen Transport Hub (HTH), subsequently driving demand to decarbonise the transport system.
Eligibility
Firstly, all projects should have total eligible costs between £200k and £1 million. They should start by 1st September 2021 and end by 31st March 2022. To lead a project, your organisation must be registered in the UK and work in collaboration. Lastly, you should carry out all project work and exploit your results from or in the UK.
Scope
All applicants must use a hydrogen vehicle or vessel in an operational setting to replace, complement or add to existing transport fleets or operations. While projects can operate vehicles partly outside the Tees Valley, they must maintain their main logistical connection with the area.
In more detail, all projects must:
- demonstrate a green zero-emission hydrogen transport solution by 31 March 2022 for 3 months
- operate the demonstration in an open public setting or controlled environments, such as warehouses and distribution centres
- offer a method to track their solution against performance indicators against a baseline comparator to understand benefits or challenges and then deploy this solution as part of the demonstration
- report on the benefits for passengers, customers and residents in the Tees Valley
- develop plans for long-term activities to create a demand for hydrogen in the Tees Valley from 2022
As part of your project, you should also:
- undertake desk-based research into future engagement with the hub after 31 March 2022
- show how the activity proposed for 2021 to 2022 will support the hub’s longer-term ambitions
- outline how post-2022 activity will transition into a commercially viable ongoing hydrogen-fuelled transport activity or a larger trial on the ground encompassing hydrogen production and its wider use beyond transport.
- explore the policy landscape associated with the deployment of a specific hydrogen vehicle or vessel to help inform wider policy discussions
More Information
For more information, including the competition’s full scope and eligibility criteria, click here. Alternatively, please contact us if you’d like to discuss an application with one of our advisers.
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EIC Pathfinder Challenges 2021
The EIC Pathfinder provides funding for advanced research on breakthrough technologies. Alongside an open call for funding that closed on 19th May, the European Innovation Council (EIC) has announced five Pathfinder Challenges for 2021:
- Awareness inside (consciousness in AI systems)
- Tools to measure and stimulate activity in brain tissue
- Emerging technologies in cell and gene therapy
- Novel routes to green hydrogen production
- Engineered living materials
What are the Pathfinder Challenges?
Pathfinder Challenges provide a top-down funding opportunity that targets the EIC’s strategic priorities. Each challenge sets out to build on cutting-edge science and technology, leading to disruptive innovations grounded in high-risk research and development. With each challenge call, the EIC aims to establish a multi-disciplinary portfolio of projects which will be supervised by a dedicated EIC Programme Manager.
Who can apply?
Firstly, you should apply if you have a project idea that could contribute to the goals of one of the challenges. In contrast to the Open Call, the Pathfinder Challenges support applications from both consortia and single legal entities (unless otherwise stated in the specific challenge criteria).
What funding is available?
The total indicative budget for this call is €132 million which will be split across the five challenges. Typically, individual proposals should cost up to €4 million and the grant will cover 100% of your project's eligible costs. However, applicants can request larger amounts if there is a justifiable need for extra funding.
Further grants of up to €50,000 will be available to explore pathways to commercialisation or for portfolio activities. As well as this, successful applicants will receive access to a wide range of Business Acceleration services and be able to submit an EIC Accelerator proposal via a fast-track scheme.
More information
The call will open from 15th June until 27th October 2021. For more information on each of the challenges, such as specific eligibility criteria, download the EIC work programme. If you’re thinking of applying and would like bid writing support, please contact us to arrange a free consultation.
In addition, you can find alternative grant funding opportunities on our blog or in our monthly newsletter.
R&D Tax Credits: A Q&A with LimestoneGrey
Research and development (R&D) tax credits are a government incentive designed to make innovation easier for startups and SMEs. However, the claim process can be overwhelming and without professional advice, small companies risk losing out on significant cash benefits.
We're therefore delighted to feature Matthew Jones (ACA, CTA) in today's blog, who is the Managing Director of LimestoneGrey, Wales' leading chartered R&D tax credit consultancy. He answers some of your most frequently asked questions, including what activities qualify and if grant funding affects your ability to make a claim.
1. Do I qualify for R&D tax credits?
There are several factors to consider when reviewing a company’s eligibility for R&D tax credits:
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The company set up
R&D tax credits are a form of corporation tax relief meaning it is only available to limited companies. It can be claimed regardless of whether a company is profitable or loss-making. Unfortunately, sole traders, partnerships of individuals, etc. are not eligible to apply.
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The timeframe in which the R&D took place
Companies are against the clock to submit an R&D tax credit claim. You have two years from the end of the accounting period where the R&D took place to submit a claim. After this date, the claim will be lost, along with all financial benefits.
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Evidence of qualifying R&D activity within their projects
The official definition provided by HMRC states ‘R&D takes place when a project seeks to achieve an advance in science or technology through the resolution of scientific or technological uncertainty.’
Most people scratch their head when they read this – so what does it mean in practice?
It is easier to understand if we split the definition into three parts and re-order them:
1. You need a project
This may include any of the following activities:
2. The project needs to contain scientific or technological uncertainties
HMRC will not consider your project's end result. Rather, they will consider the work your project involved and whether you had to overcome any difficult challenges. These challenges should be of a scientific or technological nature.
3. The project seeks to achieve an advance in science or technology
What is science or technology? Basically, it is knowledge. By overcoming the above scientific or technological uncertainties, you would have needed to advance this knowledge. An assessment needs to be made to determine if the solutions to the challenges were:
- Readily deducible by a competent professional in the field
- Available in publicly accessible information
This will determine if the advance in knowledge was solely in your company or industry-wide.
2. What can I claim for?
An R&D tax credit adviser will assess the following categories to identify costs within a qualifying project:
- Consumables (materials, water, light, heat, etc.)
- Payroll costs
- Externally provided workers
- Subcontractors
- Software
- Payments to any clinical trial volunteers
3. How much can I claim?
R&D tax credit relief was created by the Government in 2000 and has continued to get more and more generous since its inception. At present, a qualifying company can claim up to 33p for every £1 spent on qualifying R&D activity.
4. If I’ve received a grant, will that interfere with my ability to make a claim?
It is so important to stress that a company can still gain access to R&D tax credits if they have received a grant. This is one of the biggest misconceptions I hear from companies. The only factor that will be affected is the amount you are entitled to.
5. What should I look for in an R&D tax credit adviser?
It is no secret that HMRC are enforcing a variety of measures to prevent abuse of R&D tax credit relief following the recent identification and prevention of fraudulent attempts totaling over £300 million. Therefore, it is vital that you choose the right adviser as choosing the wrong one can potentially land you in very deep water.
My advice would be to:
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Firstly, check the supplier’s credentials
R&D tax relief is a complex area of tax law and is not offered as standard by many mainstream accountants as it is not a compliance service. Due to its highly technical nature, it is imperative that your adviser has the necessary qualifications to undertake the work with the highest level of detail and accuracy. Ideally, you should work with a qualified chartered accountant (ACA or ACCA) or, even better, a chartered tax adviser (CTA). Having these qualifications indicates that they have passed the necessary exams and are regulated by professional bodies, enforcing them to follow strict codes of conduct.
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Investigate the service level available
A full-service consultancy will take you through the entire R&D tax credit journey, from initial consultation to submission and beyond. However, this will not be the case with all suppliers. Some will force you to rely heavily on your own accountant following the preparation of the claim. These advisers tend not to be registered with HMRC and therefore cannot submit claims on your behalf.
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Learn from others
Check the supplier’s website for any testimonials or case studies providing information on the experiences of other clients. I would recommend browsing their social media channels to see if they have published any good news stories or successes. Social media is also a good place to investigate whether the supplier has existing partnerships or relationships with any reputable organisations that would assure you of their integrity.
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Get a second opinion
Most consultancies will provide a free no-obligation assessment of your company’s situation and advice on whether they feel it is worth pursuing a claim. I would recommend getting a second opinion as you have nothing to lose.
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Finally, look out for unusual behaviour
When engaging with an R&D tax credit adviser, I would advise proceeding with caution if any of the following situations occur:
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- The adviser alludes to the claim value in the initial meeting – it is impossible to say at this early stage without a full analysis.
- The adviser takes a blanket percentage of your employees’ wages to include in a claim – each employee will have spent a different amount of time on the project, so they need to be looked at in isolation.
- An adviser’s fee seems either too high or too low.
- The adviser ties you in with a long-fixed term contract (usually hidden later in the terms of the contract).
About LimestoneGrey
LimestoneGrey is a full service, chartered R&D tax credit consultancy, that is regulated by the ICAEW and CIOT, and only uses qualified professionals to conduct work on behalf of clients.
