The EIC Accelerator SME Instrument call was officially launched on 6 April EIC Accelerator SME Instrument as part of the new European Innovation Council (EIC), with a total budget of €17.5 million. The programme aims to foster the growth of SMEs with disruptive innovation projects in international markets.

A significant new feature is the introduction of the blended finance option: in addition to a non-repayable grant covering 70% of the project budget up to a maximum of €2.5 million, it is now possible to request an equity investment of up to €15 million for activities close to market (TRL 8/9). Below is a summary of the key operational steps required to finalise the investment following a positive pitch evaluation:

• Ad hoc Due Diligence to define the risk and all legal, financial, and corporate elements required to assess the investment (maximum duration of 6 months following a positive pitch evaluation);
• Investor proposal. In the event of a positive outcome, the European Innovation Council Fund (EIC Fund), established by the EIC to manage equity investments, will propose an investor to the SME from a selected community. Alternatively, the investment will be managed directly by the EIC Fund.

For further information and to consult the updated documentation, please visit the European Innovation Council website by clicking here, and the Funding and Tender opportunities portal by clicking here