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EIC Accelerator
How to write a good proposal
Funding & tender website
Creating a user
See here link
Proposal template:
Part A:
Administrative part
Part B:
Proposal template
Part A:
Administrative form
Taken from EC presentation in NCP training on the EIC, July 19
Part A: abstract
An important element in the first impression, thus has to be
appealing and concise (about one paragraph); could include:
Who are you and why are you special?
What are you developing and why?
Glimpse of the market \ business opportunity
Israeli winners’ tip: form your proposal as a credible solution that addresses a
problem or a proved need, with a clear economic justification
GLUCOSET AS Direct link http://www.glucoset.com Project: Microsensor for continuous arterial blood glucose monitoring Project Acronym: GlucoSet Project Phase: Phase 2 - Poor glucose control in critically ill patients leads to significant increases in costs, complication and mortality rates. Continuous monitoring of glucose will reduce costs of €2700 per patient and could save 58 000 lives in the EU every year. - GlucoSet has developed a disposable glucose sensor for monitoring glucose in the ICU. The sensor measures glucose by measuring sub-nanometer length changes in an advanced material that responds to the glucose level. The product is designed for mass-manufacturing at its core. The innovative fiber optic sensor is protected by granted patents and has freedom to operate. The sensor will be sold as a single-use device lasting 96h with a gross margin of over 90% at high volume. - The total addressable market (US and EU) is $1600 million per year. Willingness to pay has already been confirmed. The project has strong backing from key opinion leaders. - Unlike the competition, the sensor couples to the indwelling arterial catheter, which enables unsurpassed reliability and ease of use. - The SMEi phase 2 will take the project from working prototypes that have been tested in vivo, to a CE-marked device. We expect market entry in 2021 in the EU. - The company has a very strong team that has extensive experience with medical devices, scaling up production and raising and working with venture capital. Topic: Engineering and technology Total budget: 3.394.500 € EU Contribution: 2.376.150 € Call ID: H2020-SMEInst-2018-2020-2 Start date: 01/10/2018 End date: 30/09/2020
Part B:
The proposal template
Taken from EC presentation in NCP training on the EIC, July 19
Taken from EC presentation in NCP training on the EIC, July 19
Taken from EC presentation in NCP training on the EIC, July 19
Each criterion weighs 0.33 (Excellence, Impact, Implementation)
A median grade of 4 independent remote evaluators
Threshold: 13 points (minimum 4 points per each criterion)
The grade is received in an Evaluation Summary Report (ESR)
Next step: face-2-face interviews!
Israeli winners’ tip: do not despair after a failure,
improve the proposal and submit again and again
Evaluation
Part B:
Proposal template
Think of the evaluator as if he is an investor!
Write the abstract and the summary as a pitch: Problem – Solution – Competitive Advantage
The evaluator is looking for an excellent company – focus also on the team; the company’s track record, its strategy, its future offering and its ability to scale up
Show you’re ‘in love’ with your idea
Highlight increase in turnover (RoI), employment, private investment
From now: submit your pitch deck too!
General tips
General tips Continued
Appearance is not less important than the content! You never get a second chance to make a first impression!
Use pictures, graphics and diagrams to describe processes; market segmentation; emphasize your strong points
Maintain font size, margins and numbering of chapters and sections
Use appealing acronyms
Delete guidelines in the template
Take note of the max. number of pages
Be coherent in proposal and goals
Pleasant reading:
Let the evaluator have a good time reading your proposal as a continuous
interesting coherent and consistent story, clear, fluent, accessible, appealing
Review and polish the language; avoid repetitions
Give answers to the questions in the evaluator’s “checklist”
Add links where necessary
Be evidence-based (POCs), verifiable, realistic (e.g. fitting info in company website)
Be refined (and not general or theoretical)
General tips Continued
Israeli winners’ tip: do your homework before writing!!
Talk in the EU’s language – for example, measure yourself in TRL, in Euros
Make sure you fit into the key concepts:
Market creating innovation/new markets (not incremental)
Beyond state-of the-art, disruptive, ground breaking, game changing
For the first time…
Scale-up, growth (in Europe and globally)
High-risk and high-potential
Impact on market and company, in qualitative and quantitative terms (turnover,
employment, market size, IP management, sales, ROI, profitability)
‘Freedom to operate’, regulatory and standardization issues
New keywords: associated financial needs, ‘bankability’, leveraging of
investments, potential to scale-up
Taken from a presentation of the EC, about the EIC, NCP training July 19
Israeli winners’ tip:
If you are developing a platform,
show it’s overall
potential to disrupt the market, not only in your
current application
Introduction Helps give a rapid understanding of the innovation and put it in context
Prove credibility of the company; perhaps referring
to letters of intent from European partners. Demonstrate high
probability of successful commercialization and
ascertain trustworthiness of the company!
Highlight relevant achievements and
experience: projects, products, money raising,
awards, grants, appearances in the media, conferences,
participation in accelerators, publications, members of
advisory board, equipment, infrastructure, etc.
Short, Simple, Sell! Expanding on the abstract
Start with a bang!
Problem-solution-opportunity - competitive advantage
Mention the team, growing together
Traction
Your business model - How will you make money?
What is your financial status? Current investors
Relation to the overall strategy of the company
Summary
High-risk and high-potential
Discuss the product - technology and innovation (proven results); that answers
unmet-needs and pain-points (as a solution)
Don’t be too technical!
Refer to market-related elements also in “Excellence”
Relevant TRL
Standing out from your competition; clear differentiation, USP
“Must have” vs. nice-to-have
Explain and proof feasibility (technological, practical, economic) and risk management about market introduction
Excellence
See here a “state-of-the-art” (SoA) exercise in Access4SMEs’ Analysis report on SME success factors and best practices in Horizon 2020
Refer to gender, climate change / environment, benefits to society
Excellence Continued
Israeli winners’ tip: Emphasize not only technological innovation but also innovation in usage; for potential users who
right now don’t have a similar solution in the market
Presenting the competitive landscape and your differentiation
Value proposition tool of A4SMEs
Excellence - continued
TRL9: Actual system proven in operational environment (competitive manufacturing in the case of key enabling technologies, or in space)
TRL8: System complete and qualified
TRL7: System prototype demonstration in operational environment
TRL6: Technology demonstrated in relevant environment (industrially relevant environment in the case of key enabling technologies)
TRL5: Technology validated in relevant environment (industrially relevant environment in the case of key enabling technologies)
TRL4: Technology validated in lab
TRL3: Experimental proof of concept
TRL2: Technology concept formulated
TRL1: Basic principles observed
Why is the optimal timing now?
How did you reach TRL5\6?
How will your solution reach the market?
Grant versus equity
SMEs requesting grant-only must demonstrate their ability to secure other resources for the activities
above TRL8!!
Risk analysis
How to cope? Description Market barrier
End-user free trials would be offered, and the positive results will be well communicated and disseminated…
End-users must be convinced that…
Market skepticism….
High market-entry cost…
Need of demonstration of the product…
Acquisition of enough client mass / finding a lead customer…
Impact includes innovation’s benefits, commercial value!
Define clearly your target users and\or customers
Company’s growth; build a successful business of innovation!
Potential market and its willingness to pay; clear demand/need
Business model that will scale-up company and product
Market understanding: commercialization, competitors, regulation, external strategic partners (LOIs), etc.
This is not a research proposal; EU is looking for Unicorns
Impact
Entering the market –
Who are your (global) competitors?
Identify needs\demand\pain points of customers, end-users; segment them
Preform a market sizing exercise - quantify the data: market share and potential, how many people suffer from the problem you will solve, market characteristics (fragmented? emerging? many players?)
Be relevant to Europe (and then: also globally).
Growth forecast of the company, sales and revenues, financial projections (RoI), etc.
Show current interest in the solution (LOI’s)
Impact Continued
Presenting your competitors
Market Analysis and competitor tool of A4SMEs
Business model and commercialization–
Talk about your business model: how will you make money? (BM, RM, PM)
Discuss your go-to-market strategy: how will you sell? Directly to the clients? Through channels? On the web? How does it fit the overall business strategy?
Show current traction: paying customers, LOIs, beta sites, MOU
Impact Continued
Discuss IPR protection: FtO? Knowledge management?
50% of phase-2 companies are with awarded patents
52% of phase-2 companies have published patents covering their industrial property outside of the EU jurisdiction
Build on the result of a market-research phase
Scale up potential
Define KPIs for expected outcomes and success criteria
Broader Impact: societal, economic, environmental, climate, etc.
See here an “Impact plan” exercise and the Access4SMEs Business Toolbox Set
Impact Continued
Implementation
Different roles in the team, commitment (full time or part time?)
Relevant achievements \ experience
Prove relevant varied skills of management (in technology, product development,
management and business capacity, sales, marketing, commercialization)
For each team member detail info (CV), incentives, shareholding, stock options
Role of company’s owners
Strengths versus weaknesses, how to acquire missing competences?
Team and capabilities - capacity to execute
How will the project be managed? (technically: team, facilities, WPs, tasks, work force, work
program, milestones, deliverables, financing, approach…)
Implementation - continued
Estimation of the total financial resources required
and its timing to reach break-even point
Breakdown between:
1. EIC Grant (for all)
2. EIC Equity (if applicable)
3. Remaining financing provided by other sources (for all)
What are your plans to ensure subsequent financing of your innovation?
Financing needs and need for EIC support
Equity (if blended finance)
What will the equity be used for;
how much equity share the company plans to give?
How has the valuation developed over time?
Explain company ownership and capital structure (Table 4)
Expected exit strategy?
Need for EIC support
Why isn’t it possible for your company to raise the required financial resources from
private investors or other resources?
Description of company’s track record and current efforts
What would the impact be if you do not receive financial support from the EIC?
Risks
The project is divided in a clear way to work packages and tasks
The months are generic (M1, M2….) and not calendric
It is clear when each assignment begins and ends, and the dependence between them
Have a realistic plan for: knowledge, resources, work-package management, timeline, budget
Approach – overall structure
Gantt for the Grant
Summary table of project including TRL9 covered by EIC Fund
Mentioning Person Months needed per WP
Should be in correlation with:
Work package description
Deliverables and Milestones:
Resources
Resources, equipment, facilities for the project
Give info about sub-contractors and third parties
(“best value for money”!)
Annexes
Taken from EC presentation in NCP training on the EIC, July 19
Taken from EC presentation in NCP training on the EIC, July 19
Taken from EC presentation in NCP training on the EIC, July 19
Taken from EC presentation in NCP training on the EIC, July 19
More info…
Tips how to write a good proposal from EASME
Self-Evaluation form for proposals
Briefing for EIC A evaluators 2019
EIC work-program 2018-2020
Additional tools in A4SMEs website
Webinars
Have a look at these before writing!
Israeli winners’ tip: Even when using external
assistance for submission, the CEO must be involved and
contribute to the technological \ financial part
Choose your keywords carefully before submission
Accelerator \ SME Instrument Data hub
Follow SME on twitter, linkedin, EIC websites, etc
Sources for more information
ISERD’s website!
You can address general questions to: Research Enquiry Service
Submitting the proposal: Funding and Tender portal SME-EIC call
SEDIA IT Helpdesk contact form, Phone: +32229 92222 Email: ec-sedia-support@ec.europa.eu
How can ISERD assist?
Ongoing guidance and support in submission
ISERD website- SME Department (webinars, guides, links and more)
Guidance before interviews in Brussels
Red Team for EIC Accelerator (It is free…!)
Preliminary review of Israeli proposals before the submission, by expert evaluators
from the IIA.
The draft proposal must be final and sent to ISERD at least one month before the
deadline!
For returning submitters (with a grade 13+) or Phase 1 / 2 winners
www.iserd.org.il
SME_FTI@iserd.org.il
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