The three pillars of a fundable EIC Accelerator Project: Innovation, Impact, Risk

Here at ABGi, we see many EIC Accelerator applications struggle with the same three issues. The innovation may be interesting but not unique, the commercial impact is unclear, or the risk level does not justify public funding. What evaluators are really asking is: how strong is the innovation, how big and credible is the impact, and is the risk high enough to need EIC funding but still manageable?

If you build your project around these pillars from the beginning, you’ll find the rest of your application falls into place much more easily.

Pillar 1  → Convincing innovation

In EIC terms, a “breakthrough” is more than just an improvement. It is a major change that can create a new market or disrupt an existing one. For example, it could be a new way to store energy, a diagnostic that changes how a disease is detected, or a software platform that enables a new data-driven business model. Small improvements, like a slight efficiency gain, a new user interface, or another analytics dashboard, usually do not meet this standard. These may be profitable, but they lack the novelty and strategic importance that EIC aims to support.

You need to show clearly how your solution goes beyond the current state of the art. Start by briefly mapping out the current products, technologies, and approaches. What do they do well, and where do they fall short?  Then explain, in plain English what you do differently and why that matters. Is it higher accuracy, faster processing, lower cost, new capabilities, or something else? If you have patents, trade secrets, or unique know-how, mention them to show your position is defensible. And wherever possible, put numbers on your performance gains.

A strong innovation story could look like this:

“Today, offshore inspections rely on manual divers and basic ROVs, which are slow, hazardous and limited in bad weather. Our autonomous inspection system combines proprietary AI vision models and a novel sensor array to operate in conditions that currently halt operations. In pilot tests, it has reduced inspection time by 60% and cut downtime costs by 40% compared with standard methods.”

This example clearly shows the problem, the current approach, the new solution, and the performance improvement.

Pillar 2 → Credible impact

Innovation alone is not enough to get you funding.

Evaluators want to see that your project can deliver real business and social results. Who exactly is your target market? Be specific about the segment, location, and use case.  Don’t just throw out a big number: estimate its size using trusted sources and explain how you reached your numbers. Then, explain why now is the right moment for your innovation. Are there new regulations, shifts in customer behaviour, or technology trends that make adoption more likely?

Next, take a hard look at your business model. How will you actually make money? Who are your customers, and how will you reach them? Back up your claims by pointing to pilots, letters of intent, early contracts, or similar products that show people are willing to pay. Be clear about your pricing and expected profit margins. Use realistic, detailed projections that tie together sales volumes, prices, and timing, instead of just showing rapid growth. Investors and evaluators will question numbers that do not fit your story.

If your project has a societal or environmental impact, make it count. Maybe you’re cutting emissions in a difficult sector, reducing waste, improving patient outcomes, or boosting digital security. Wherever possible, turn these impacts into clear numbers, like tonnes of CO₂ avoided each year, percentage drop in hospital readmissions, or time saved per user. Avoid vague claims and connect each impact to something you can control. The aim is to show a direct link from EIC support to real, measurable changes in the market and society, not just good intentions.

Pillar 3 → High but manageable risk

The EIC Accelerator exists for projects that are too risky for standard funding, but that doesn’t mean you should take wild risks. Your proposal should show that you understand the risks and have a plan to manage them. Divide them into three groups: technical, market, and implementation risks.

Because UK applicants receive grant-only support and do not receive the EIC equity component, you must also demonstrate that the project is sufficiently high-risk to justify public funding while showing a credible financing plan for the remaining 30% of project costs. The EIC grant typically covers up to 70% of eligible innovation activities, so evaluators expect to see clear evidence of how the balance will be funded, whether through private investment, internal resources, or other complementary funding sources. This reinforces that the project is both ambitious and financially deliverable.

For technical risks, be upfront about what’s still unproven: maybe it’s durability, integration, regulatory validation or manufacturing yield. For each, outline how you’d handle the risk: additional testing, partnerships with specialist labs, staged prototypes, or alternative design options.

Market risks are about whether customers will adopt, how tough the competition is, or if regulations might shift. Acknowledge these uncertainties and explain how you’d handle them through pilots, phased market entry, engaging with regulators, or keeping your business model flexible.

Implementation risks focus on whether your team and plan can deliver the project. Think about what could go wrong: losing key people, missing skills, relying too much on a single supplier, or running into cash flow issues. Use practical and specific mitigation steps.  For example, you might already have a shortlist for a senior regulatory hire, have backup suppliers lined up, or set milestones so that major costs only happen after you’ve met key technical goals. The goal is to show evaluators that your project is ambitious enough for EIC support, but not so fragile that one problem could derail it.

Self‑assessment and improvement tips

Before you commit to a full application, test your draft against a few direct questions for each pillar:

☑   Innovation: Can you explain, in two sentences, what makes your solution fundamentally different from what exists today? Would your main competitor agree that this is new?

☑   Innovation: Do you have at least one clear, quantified performance gain or capability that others cannot match today?

☑   Impact: Can you show, with numbers, that the target market is large enough and that even a modest share would create a substantial business?

☑   Impact: Do you have any evidence of demand – pilots, letters of intent, partners, or comparable solutions customers already pay for

☑   Risk: Have you listed the main technical, market and implementation risks and linked each to a specific mitigation action?

☑   Risk: Does your project feel ambitious but still deliverable by your team within the timeframe and budget you are asking for?

If you cannot easily answer “yes” to these questions, take it as a sign to improve your project instead of moving forward with a weak proposal.

Use the three pillars as a checklist with your team, refine your idea, and build stronger evidence before starting the formal EIC process. Doing this early will boost your chances in the EIC Accelerator and make your overall investment story stronger.

We can help

At ABGi, we help companies decide if the EIC Accelerator is a good fit, develop strong proposals, and prepare for the whole process, including interviews and post-award support. This gives your application the best chance of success.

If you want personalised advice on finding funding at any stage of your innovation journey, contact the ABGI Team. We are happy to talk about your goals and explain how we can help.