An SME's Guide to the EIC Accelerator Grant
What is the EIC Accelerator grant? Discover how SMEs can secure up to €2.55M in funding to scale groundbreaking innovations and disrupt markets.
What is the EIC Accelerator grant? Learn everything you need to know about how the European Innovation Council helps businesses fuel groundbreaking innovation.
The European Innovation Council (EIC) Accelerator Grant is a brilliant opportunity for Small and Medium Enterprises (SMEs) with groundbreaking ideas to get the funding they need to scale and innovate.
If you're an SME with a high-potential product or service that could impact industries, society, or the environment, the EIC Accelerator can provide the financial support and guidance you need to turn your vision into reality.
We'll break down what the EIC Accelerator is, who can apply, what the eligibility requirements are, and how you can improve your chances of securing the funding.
The EIC Accelerator is a part of the European Union's Horizon Europe programme. It’s designed to support SMEs that are developing deep-tech innovations — projects that have the potential for high growth, market disruption, and societal benefit.
As of 2025, the EIC Accelerator offers grant funding of up to €2.5 million (≈ £2.1 million) and equity investment of up to €10 million for innovative projects led by European registered companies. Unfortunately, options for equity are not available to UK companies, only grants. The funding can be used for product development and scaling operations, helping you accelerate the growth of your business.
Learn more about the key differences between the EIC Accelerator and Innovate UK’s Smart Grant.
Not every SME can apply for the EIC Accelerator. There are specific eligibility requirements you must meet to qualify for the programme.
Your Business
Your business must be an SME established in an EU Member State or an Associated Country – the UK remains an Associated Country. You must be developing innovative technologies that have high growth potential, ideally with the potential to disrupt markets.
Applicants must have completed Technology Readiness Level (TRL) 5 to apply for the EIC Accelerator. TRL5 is early-mid-stage prototyping with technology validated in a relevant environment.
This is distinct from ‘demonstrated in a relevant environment’, which is usually beta testing or test users (TRL6). Applicants at TRL6 or TRL7 are also eligible.
Your Innovation
The innovation you are developing should have the potential to significantly impact wider than just the UK market, expanding into the EU – including the wider economy, society, or the environment. The more transformative your idea, the better your chances of success.
Market Readiness
The product or service you’re developing should be close to market. The EIC Accelerator supports SMEs that have completed TRL 5, at the prototyping stage and are ready to optimise for scaling and finalise late-stage development before commercialisation. You should also have a thorough understanding of your value chain.
Team Capability
Your team should have the skills, experience, and ability to carry out the project. The EIC wants to see that your SME has the expertise to successfully implement the innovation and scale it for a wider impact.
Financial Need
You must demonstrate that you have a credible business model and clear financial needs. This involves having a clear budget and roadmap for how you’ll use the grant and investment.
The application process is multi-stage and highly competitive, so it’s important to be thorough in your preparation and get expert help where you can.
1. Short Proposal
Stage 1 - The Short Proposal is the first step, where you outline your innovation, its impact, and your business's capabilities. If you pass this stage, you’ll be invited to submit a full application.
2. Full Proposal
If you make it through to the full application, you'll need to provide more detailed information. This includes a business plan, detailed financial projections, a market strategy, and a full project plan.
3. Interview
The final stage involves an interview with the EIC jury in Brussels. This is your chance to showcase your project in person, explain how your product will make an impact, and demonstrate your commitment to the project.
With the EIC Accelerator, UK companies can receive grant funding – non-dilutive funding that covers up to 70% of your project’s eligible costs up to €2.5 million (≈ £2.1 million). This funding is intended to cover R&D, testing, and product development, and means you do not have to give up equity or control.
The great thing about EIC funding is that there is no cap on the project cost, just the contribution from the EIC. For example, if you’re a company with investors looking to provide €3M, they can request €2.5 million from the EIC to bolster the raise and de-risk the grant for the EIC, funding a €5.5 million project.
Note that you’re required to input some of your own funds and the grant will not cover all costs. This is known as match funding.
If you’re a European company outside of the UK, the EIC Accelerator also offers options for equity funding to scale your business. The amount can be up to €10 million and can be used for commercialisation, marketing, and expanding into new markets. This funding is provided in exchange for equity, but it’s often less dilutive than typical private venture capital. It can be up to 20% stake and the control is held by the European Commission.
We asked one of our Senior Funding Consultants, Jessica Vernon, to provide her top tips for the EIC Accelerator grant.
- Understand how the problem you are solving impacts the EU market more broadly. The EIC Accelerator is designed to maximise EU excellence, so even if your initial customers are in the UK, it is beneficial to have a grasp on how your solution benefits EU customers and how you intend to reach them.
- Start gathering your letters of intent/support early. You won't need to submit these until Stage 2 / Full Proposal, however, they can take a little while to finalise and they help prove your market traction.
- Don’t shy away from name-dropping (this is not the time to be humble!). If you’ve got a strong network and existing technical or commercial partnerships, these don’t negate your need for cash. It proves your credentials and your progress, and that you are well-equipped to commercialise when the EIC project ends.
- Be prepared for the kind of questions investors would ask. The EIC Accelerator wants to maximise the chances of your business’s commercial success, so there will be consideration of how the company is building for future growth and stability, including your marketing strategy and spending post-project.
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