The European Innovation Council (EIC) Accelerator Pilot (SME Instrument) Phase-2, as part of the Horizon 2020 programme, acts as an accelerator programme at EU level offering funding - in the form of a grant or blended finance (a mix of grant and equity investment) - , coaching and business acceleration services to innovative small or medium-sized businesses with global ambitions.
Here at Sunrise Group we want to Present you the 5 mail key facts of the new program
1. Performed by the “EIC Fund” (Special Purpose Vehicle, SPV)
2. Goal: define a tailor-made investment that fits the needs of the company and the project.
3. Focus mainly on:
1. Evaluating compliance and risk level
2. Confirming the investment amount and structure
3. Estimation of the total financial effort
4. Defining equity “tranches” and critical milestones
4. Investors:
1. A community of trusted VCs and investors
2. The company will be presented with VCs that express the interest to invest.
3. The company will have a final say.
5. Equity Investment agreement:
1. Structured via separate agreement
2. EIC Fund will play a passive role in the daily management of the company (preferred rights).
3. Exit strategy: different exit routes set case by case (ideally, company reaching growth/maturity attractive to investors)