Library FAQ
What are the main tasks of the EIC Fund?
The EIC Fund is tasked with overall due diligence and implementation of the investment component, raising awareness to leverage co‑ and alternate investments, and managing investments and exits in the interest of the beneficiary and the EU.
What does EIC Accelerator support consist of?
Support consists of EIC blended finance, a mix of grant and investment. For small mid‑caps it may consist only of an investment on a co‑investment basis.
What is an 'alternate investor'?
An alternate investor is an investor that shows immediate interest in providing the full investment into an EIC candidate company.
What is the EIC Accelerator?
The EIC Accelerator is an EU initiative under the European Innovation Council that provides blended finance to help breakthrough and high-risk innovations bridge the 'Valley of Death' and reach commercialization and scale-up.
What is the geographical scope and stance on technological sovereignty?
Eligible companies must be established and operating in EU Member States or countries associated to Horizon Europe. The EIC Fund will seek that supported companies keep most of their value, including IP, in the EU or Associated Countries and will consider the...
What is the legal and managerial structure of the EIC Fund?
The EIC Fund is an alternative investment fund (AIF). Initially the European Commission is the sole investor; later the EIB is envisaged to take over. An external AIF manager (the EIC Fund Manager) manages the fund, and the EIB supports the Fund as Investment...
What role does EISMEA play in the EIC Accelerator process?
EISMEA manages evaluation and selection of proposals requesting EIC Accelerator support, implements the grant component and ensures coordination between the grant and equity (investment) components.
What types of innovation does the EIC Accelerator support?
It supports breakthrough and high‑risk innovations including deep‑tech, radical or disruptive thinking, impactful incremental innovation and social innovation.
Which company development stages are targeted by the EIC Accelerator?
The Accelerator targets Pre‑Seed, Seed and Early‑stage SMEs, and small mid‑caps—typically for‑profit companies often with a strong intellectual property component.
Which policy priority areas may the EIC Accelerator focus on?
While open to all high‑risk innovation areas, the Accelerator may focus part of its support on capital‑intensive strategic technologies in policy priority areas such as Health, the Green Deal (e.g. clean energy, climate action, future mobility), Digital Transf...
Who are the beneficiaries of the EIC Accelerator?
Beneficiaries are innovators, start-ups, for‑profit SMEs and small mid‑caps seeking to bring innovations to market deployment and scale‑up.
Who implements the EIC, the EIC Accelerator and the EIC Fund?
They are implemented under the operational lead of the European Innovation and SME Executive Agency (EISMEA) by delegation of the European Commission.
Who makes the final investment decisions?
All investment decisions must be made by the EIC Fund and in accordance with these EIC Investment Guidelines.
Can subcontractors or other entities relied upon by the EIC Fund Final Recipient be subject to the same declarations?
Yes. Where appropriate, the EIC Fund Final Recipient shall provide the same declarations signed by a subcontractor or any other entity on whose capacity it intends to rely. Declarations already submitted for an EU award procedure may suffice if the situation h...
How are 'Non-Compliant Jurisdiction' criteria defined?
Non-Compliant Jurisdiction refers to jurisdictions that are (a) listed in Annex I of the EU list of non-cooperative jurisdictions for tax purposes, (b) included in the OECD/G20 list of jurisdictions not satisfactorily implementing tax transparency standards, (...
How is 'Fiscal Year' defined?
Fiscal Year means the twelve (12) month period ending on 31 December in each year, except for the first fiscal year which started on the date of establishment of the Company and ended on 31 December 2020.
How is 'Investment' defined for a Compartment?
Investment means, in respect of a Compartment, (i) an investment made by the Company in respect of that Compartment, directly or indirectly through an Intermediary Vehicle, in any asset judged appropriate by the Company at the time of making or committing to t...
What activities are explicitly excluded by the EIC Fund Investment Guidelines?
Excluded activities include live animals for scientific and experimental purposes (including breeding); ammunition, weapons, military/police equipment or infrastructure (except dual-use items defined in Regulation No 428/2009); gambling, casinos and equivalent...
What are 'Investment Restrictions'?
Investment Restrictions means the investment restrictions and guidelines of each Compartment as described in the relevant Special Section.
What are 'Sanctions' according to the guidelines?
Sanctions means economic, financial and trade restrictive measures and arms embargoes issued by the European Union pursuant to Chapter 2 of Title V of the Treaty on European Union and Article 215 TFEU, and measures and arms embargoes issued by the United Natio...
What does 'External AIFM' mean in the guidelines?
External AIFM means Alter Domus Management Company S.A. in its capacity as external AIFM of the Company.
What does the term 'Person' include?
Person means any legal person like corporate bodies with a separate legal personality and legal arrangements without a separate legal personality like trusts; it also includes any government, state, agency, organisation or other public entity and an individual...
What exclusions must an EIC Fund Final Recipient confirm in the EIC Fund Agreement?
The EIC Fund Final Recipient must confirm it is not in an exclusion situation: not bankrupt or subject to insolvency/winding-up procedures, not under asset administration by a liquidator or court, not in arrangement with creditors, not suspended or in an analo...
What is a 'Follow-on Investment'?
Follow-on Investment means, in relation to a Compartment, an investment in an EIC Fund Final Recipient in which the Compartment has previously invested and which goes beyond the maximum investment amount authorised by the Commission award decision or the EIC F...