EIC Accelerator - SME Instrument

The SME Instrument becomes the EIC Accelerator, offering optional equity investment in addition to a grant. Innovative companies can apply for a grant of up to 17.5 million in combined grant and equity financing to scale-up quickly and effectively. The aim is to increase support for ground-breaking concepts that could shape new markets or disrupt existing ones in Europe and worldwide.

The European Commission received 2025 proposals for the European Innovation Council pilot’s SME Instrument Phase 2 before the last cut-off date of the SME Instrument in this form on 5 June 2019. Small and medium-sized enterprises (SMEs) from 40 countries submitted proposals. Companies that pass the initial selection stage will be invited to Brussels, to pitch in front of a Jury of investors and business experts during the week of 18-21 July 2019.

The European Commission received 261 proposals for Fast Track to Innovation (FTI) before the latest cut-off date on 25 May 2019. Proposals include participants from 28 countries, the largest number of proposals being submitted by Spanish, Italian and Dutch applicants. Results are expected for end of summer 2019.

On 13-14 May 2019, 18 entrepreneurs joined an EIC Corporate Day with Telefónica and BBVA where they pitched their innovations and engaged in-depth discussions with business and Corporate venture capital representatives. A selected group of EIC pilot pioneers presented their innovations to top managers of Telefónica and BBVA in Madrid, Spain. The matchmaking event focused on new technologies and solutions for the telecoms and banking sectors.

On 24 and 25 April 2019, at the old Customs House in Hamburg, 54 companies backed by the European Innovation Council (EIC) pilot had the opportunity to pitch and present their business cases and to engage in one-on-one business meetings with representatives from some of the leading Corporates in Europe. The multi-corporate event was promoted by the EIC pilot together with comdirect.

On 3-4 April, over 100 companies funded by the European Innovation Council (EIC) pilot participated in a matchmaking event at the InQbet Accelerator in Brussels with large corporates and open innovation experts. Hosted by P&G and The Growcery, participants also included representatives from Cargill, Port of Antwerp, Bpost, Nokia, Umicore, ING and Solvay and twenty other big corporations.

On 25-26 September the R&I Days will host the Innovative Europe Hub featuring the most innovative small companies in Europe, investors, corporates and entrepreneurs that make European innovation so dynamic. Brokerage places, participatory and cooperative sessions, pitching, labs and plenty of networking guaranteed. Registrations are open!

The EIC SME Instrument funded projects Vortex Bladeless and Wavepiston will take part in this year’s European Sustainable Energy Week in Brussels. The two projects will present their disruptive solutions for sustainable energy harvesting at the Energy Lab on 19 June and 20 June 2019.