EIC Board publishes voluntary Code of Conduct for consultants to EIC applicants

On 6 November 2023 the European Innovation Council Board published a Code of Conduct aimed at consultancies that offer services to organisations preparing applications to EIC funding calls. The stated aim is to establish minimum standards for transparency, professionalism and ethical behaviour in a consultancy market that has been growing around EIC calls and other EU innovation programmes.

What the Code covers and how it will be used

The Code is voluntary. Consultancies that commit to its principles may display a label on their websites to indicate adherence. Potential applicants to EIC funding are explicitly invited to check whether any consultancy they are considering complies with the Code. The Board says the initiative responds to the emergence of a large European consultancy market serving potential EIC applicants and beneficiaries and aims to promote transparency and ethical practice.

Why the EIC launched the Code

Many organisations seeking EIC funding choose to work with specialist consultancies to prepare proposals and to manage projects after funding is awarded. The EIC Board identified risks from an unregulated market including variable quality of advice, opaque fees, conflicts of interest and unclear handling of sensitive project information. The Code is presented as a measure to help applicants identify reputable service providers and to encourage consultancies to adopt a common baseline of behaviour.

Context within EIC support ecosystem

The EIC emphasises that external consultancy is only one option for applicants. National Contact Points and the Enterprise Europe Network provide advice to potential applicants. Applicants who pass the short or 'Step 1' phase of the EIC Accelerator may access free coaching from the EIC Business Acceleration Services. The Code aims to complement these public supports by improving market transparency for those who still choose commercial consultants.

Consultation and timeline

The Code was drafted following exchanges with stakeholders and a public consultation on a draft version published in the summer of 2023. The Board solicited comments from interested parties and considered those contributions in finalising the document.

Limitations and likely challenges

The EIC Board framed the Code as a tool to promote good practice. However the voluntary nature of the initiative creates limits. A label that consultancies can self-display without a robust verification or enforcement process risks becoming a marketing device rather than a quality signal. The Code does not create contractual rights for applicants and it does not replace public oversight or legal remedies for wrongdoing.

The wider consultancy market serving innovation programmes is heterogeneous. Providers range from solo consultants to larger firms and accelerators that bundle advisory services with introductions to investors. That diversity can be valuable but it also increases the challenge of ensuring consistent standards across jurisdictions and provider types.

Practical implications for applicants and policymakers

Actors and roles in the EIC support landscape

Final takeaways

The Code of Conduct responds to a real need for clearer expectations in a growing consultancy market around EIC calls. Its publication is a constructive step toward greater transparency. But the Code is voluntary and its effectiveness will depend on uptake by consultancies and on meaningful verification and oversight by the EIC and by national and regional actors. Applicants should continue to rely first on public support structures and apply standard procurement and due diligence practices when engaging paid advisers.