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The purpose of these events is to provide free consulting services to high-risk, high-tech and high potential start-ups as well as small and medium enterprises. The end objective is to help them grow and develop further through dedicated EU Horizon2020 funding. Our consultancy services support these companies in successfully completing and submitting the application process to participate in the European Innovation Council’s new H2020 Accelerator Pilot.
The EIC Accelerator Pilot, formerly called SME Instrument, is aimed at innovative businesses located in one of the EU’s Member States or in a Horizon 2020 Associated Country, which applies to Switzerland.
To date, since the inception of its funding event concept in 2017, PARK INNOVAARE saw 15 of the projects hat it has supported successfully obtain H2020 funding from the European Commission. Of these companies, several -but not all- are members of PARK INNOVAARE, including gratXray, COSYLAB, interAx, Securaxis and Eldico Scientific.
What does it take to obtain funding?
As mentioned on the European Commission website, the EIC pilot is on the look-out for innovation projects presenting the «potential to create entirely new markets or revolutionize existing ones», whether in Europe or worldwide.
So, what are the main characteristics sought by the EIC when determining whether or not to grant funding?
According to Senior Consultant Claudia Melchart and Managing Director Javier Calvet at our partner consulting company M27, the four keys to success at the EIC Accelerator Pilot are: business impact, disruptive technology, company capabilities, and added value for Europe.
There must be tangible economic and social impact not only for the company itself but also the European Union, and it should present a credible and international market strategy.
The technology involved should be disruptive in the sense that it differentiates itself from existing solutions but is also already close to market. Companies supported by H2020 funding have proven their capability to become leaders of their sectors.
What about Business Angels?
According to Florian Gautschi, Project Leader at Kanton Aargau’s Regional Economic Promotion Department, business angels appreciate highly scalable products and services, 5F investments that a founder is willing to risk to make his or her project succeed as well as the strength of the team.
IoT, predictive diagnostic system (PDS), sensors, algorithms, mechanical engineering, industrial engineering
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