“Dear applicant, congratulations for being selected to the highly competitive EIC Accelerator programme”
This is it, the moment you have been waiting for since the day you submitted your proposal. The EIC Accelerator Jury has recommended to the EISMEA (European Innovation Council and SME Executive Agency) to select your proposal for EIC funding.
How exciting, so where do we sign and when can we start the project?
Not so fast, there are still quite a few steps to go through before signing the GA (Grant Agreement). Following a successful evaluation of your business plan (submitted proposal), the EISMEA will invite you to enter the negotiation process. The objective is to conclude it positively and sign the contract of the grant component.
The negotiation process will unfold in the following phases:
|Validation and LEAR appointment||You will be requested to provide documents and information via the FTP (Funding and Tenders Portal) in order to:
– validate your company and bank account
– appoint a LEAR (Legal Entity Appointed Representative)
|SME status verification||To check if your company qualifies as SME, you will be:
|Assigning roles and signing DoH (Declaration of Honour)||Once the LEAR has been validated, the next step is to assign the financial and legal signatory roles of your SME via FTP. This is necessary for the following action of signing of the DoH. Through this document, you ensure that the information provided is correct and that you comply with the rules.|
|Business Plan (BP) check||The next step is a review of your BP by your EIC Project Officer (PO). You might be requested to provide changes on the implementation plan. If this is the case, you will also receive instructions on how to reflect them in the FTP.|
|Negotiation mandate||This is a list of comments referring to your business plan. It will be issued only if the necessary changes in your BP go beyond an adjustment of the original implementation plan (e.g., inclusion of affiliated entities). It will be sent through the EIC Platform.|
|Kick-off meeting||In the event of inconsistency in your BP, the EIC PO may organize a kick-off meeting in order to discuss it and explain the process in further detail. The meeting will also be an opportunity to get to know your EIC PO.|
|Signing the GA||When all the above points have been finalized, you will receive an invitation, via FTP, to sign the contract of your grant component. Once your GA is signed, the prefinancing can be launched.|
For the “blended finance” funding, in parallel, the EISMEA will involve the EIC Fund and its external providers to run the investment negotiations. Final decision on the investment part will remain subject to further assessment and due diligence. Once concluded, the investment agreement will be attached to the GA through an amendment.
Sounds like a lot of work? It is! But don’t panic! Polite can help you prepare. If you are interested in our assistance, contact us at email@example.com