The application for EIC Accelerator funding consists of several steps: short application, full application, and interview. The EIC Accelerator Business Plan is part of the full application and plays an important role for your project as it is the main description of the project plan, including the budget. The following article offers an initial explanation of what the EIC Accelerator Business Plan is and what will happen once you are awarded project funding.
What is the EIC Accelerator Business Plan?
As part of the full EIC Accelerator application, a comprehensive Business Plan needs to be drafted and submitted on the EIC AI platform. The Business Plan is drafted by answering several questions about the company’s objectives and ambitions, work plan, budget, technology and innovation description, market analysis and scaling-up activities. Each answer is directly entered on the EIC AI platform and after completion, the Business Plan is automatically generated and downloadable as a PDF.
The Business Plan describes the detailed work plan of the project, and builds on three modules: Ideation, Development and Go to Market.
The module on Ideation describes the main problem, solution and market opportunity of the project. It includes a comprehensive overview of your innovation and the work plan of the project, as well as risk analysis.
The Development module is focused on your previous achievements, as well as the steps moving forward including the required budget of the project. It further lists the team members and describes how their expertise and experience will contribute to the project’s success.
Go to Market
The Go to Market module details the market entry of the solution by analysing the current market, the strategy for exploitation and scaling up activities. This module also illustrates the effects and impact of your solution on the market and society.
What happens with the Business Plan after you are awarded EIC Accelerator funding?
Once the project receives the EIC Accelerator award letter, the Business Plan may be reviewed again and discussed together with the assigned Project Officer during a kick-off meeting. Any changes that are agreed on must be updated in the Business Plan using the EIC AI Platform. After finalising all changes, the Business Plan will automatically be generated and can be downloaded as a PDF. This PDF will be become the Annex 1 of the Grant Agreement (DoA Part B).
If you are looking for more information about the EIC Accelerator Business Plan, please contact us at firstname.lastname@example.org