Rejection from the EIC Accelerator can be disheartening, especially when your application earned a high score. Many innovative companies find themselves in this situation. While a high score indicates that your project has significant merit, the competitive nature of the EIC Accelerator means that not all highly rated applications secure funding. So, what should you do next if you find yourself rejected despite a high score?
Understanding Why High-Scoring Applications Get Rejected
First, it’s essential to understand why applications can be rejected despite a high score. The EIC Accelerator is extremely competitive, with a limited budget allocated to fund only the most promising projects. Even if your proposal was well-received and met all the criteria, other factors come into play.
Budget limitations and strategic priorities may influence the final funding decisions. Evaluators may choose projects that align more closely with current European Union (EU) policy goals or have greater potential for scalability. Additionally, projects that demonstrate a clear commercialisation pathway often have a higher chance of success. Despite your high score, these factors may have led to your rejection.
Reviewing Your Feedback
After being rejected despite a high score, it’s crucial to carefully review the feedback provided by the evaluators. This feedback can offer valuable insights into areas where your application could be improved, even if it performed well overall.
Focus on any specific concerns raised about your innovation’s scalability, commercial potential, or market readiness. Evaluators may have flagged areas where your project lacked clarity or required additional detail. Take this as an opportunity to strengthen your proposal for future resubmissions.
Refining Your Application
With the feedback in hand, it’s time to refine your application. Even though you were rejected despite a high score, making small adjustments can make a big difference in your next submission. Pay attention to the key points highlighted by the evaluators and address them in detail.
You may need to refine your business model, provide clearer financial projections, or highlight more concrete market validation. If your project’s societal or environmental impact wasn’t clear, work on articulating how it aligns with EU policy goals. The aim is to strengthen areas where your application may have fallen short, despite its high overall score.
Exploring Alternative Funding Opportunities
While it’s disappointing to be rejected despite a high score, this isn’t the end of the road. The EIC Accelerator is just one of many funding opportunities available to innovative companies. Consider exploring other EU programmes or national funding schemes that align with your project’s goals.
Alternative programmes such as Horizon Europe, regional funding initiatives, or private investment could be valuable next steps. Investigate opportunities where your high-scoring application might still be competitive. Additionally, some projects that have been rejected by the EIC Accelerator have successfully attracted venture capital or industry partnerships, using their high evaluation score as validation.
Strengthening Your Market Validation
One of the reasons projects get rejected despite a high score is a lack of clear market validation. The EIC Accelerator is not only focused on technical innovation but also on commercial potential. To improve your chances in the next application round, focus on gathering market evidence.
Engage with potential customers, industry partners, or early adopters. Show strong interest in your product or service, and demonstrate that there is a real market need for your innovation. Letters of intent, partnerships, or pilot projects can add significant weight to your proposal and increase its appeal to evaluators.
Building a Stronger Team
Sometimes, applications are rejected despite a high score due to perceived weaknesses in the team. The EIC Accelerator places great emphasis on the ability of the team to bring the innovation to market. If the feedback indicated concerns about team capabilities, consider strengthening this area.
You may need to bring in additional expertise, whether through hiring new team members or forming strategic partnerships. Show that your team has the right mix of technical knowledge, commercial experience, and industry connections. A stronger, more balanced team can make your project more competitive in future funding rounds.
Timing Your Resubmission
If you’ve been rejected despite a high score, you may want to resubmit your proposal. However, it’s essential to take the time needed to make meaningful improvements. Rushing to resubmit without addressing the feedback can lead to a similar result.
Evaluate how long it will take to refine your application. Focus on addressing key issues, such as market readiness, team strength, or financial projections. Once you feel your project is more robust, carefully review the next application deadlines for the EIC Accelerator or other funding opportunities.
Leveraging Your High Score for Credibility
Although being rejected despite a high score is frustrating, it’s important to remember that your high evaluation score still has value. It demonstrates that your project has merit and aligns with EU innovation priorities. Use this to your advantage when seeking alternative funding or partnerships.
Mentioning your high score in discussions with investors, partners, or other funding bodies can enhance your credibility. It shows that your project was highly rated by expert evaluators, even if it didn’t secure EIC Accelerator funding. This validation can open doors to other opportunities.
Focusing on Long-Term Strategy
While rejection can feel like a setback, it’s crucial to keep a long-term perspective. Your goal is to bring your innovation to market and achieve commercial success. Whether through EIC Accelerator funding or alternative means, your project still has strong potential.
Take this opportunity to reassess your overall strategy. Strengthen your business plan, seek additional partnerships, and continue developing your product or service. The feedback you’ve received can guide you in making improvements that will benefit your project in the long run.
Being rejected despite a high score in the EIC Accelerator process can be challenging, but it is not the end of your funding journey. By reviewing feedback, refining your proposal, and exploring alternative options, you can position your project for future success. A high score proves that your innovation has value, and with the right adjustments, you can increase your chances of securing funding in the next round. Staying focused on your long-term goals and continuously improving your proposal will keep your project moving forward.
At EuGrantMe, we are passionate about fostering innovation and empowering ambitious minds to flourish. Our mission revolves around providing top-notch grant writing services for the EIC Accelerator and Horizon grants in Europe. We enable our customers to unlock the full potential of their ground-breaking ideas.
Do you have a project to turn into reality?
Contact us!