European Innovation Council 2018-2020
European Innovation Council Comprehensive Scheme 1.4 billion in funding over the period 2018-2020 FET OPEN Future Emerging Technologies FTI Fast Track to Innovation SME-Instrument Phase-1 SME-Instrument Phase-2 Soft Blending Innovative Idea Test & Co-create Feasibility Start-up Development Scale-up Investment
SME Instrument Smart Money Equity Free Funding Phase-1 50000 for feasibility assessment Phase-2 0.5 to 2.5 mln for innovation development & demonstration More than 1.1 bln granted and 2900 businesses since 2014 Business Coaching Business coaching to support innovation capacity and align the project to strategic needs Up to 3 days for Phase-1 beneficiaries and 12 days for Phase-2 beneficiaries Acceleration Services Networking opportunities with top-level investors and potential partners Support to launch their product/service on the European and International markets
SME Instrument Phase 2 The new evaluation process Submission of proposals More than 2000 proposals per evaluation round (four per year) Remote Evaluation Performed by four expert-evaluators per proposal Ranking of Proposals Highest-scoring proposals (+/- 120) invited to the interview Interview Grant Agreement Jury of 6 panels with 5-6 experts & published pitch deck Selected companies invited for Grant Agreement preparation
Interviews How are the interviews organised? Jury Interview Six Juries composed of at least 5 experts Panel Review All experts from all juries 15' 30' 15' Jury briefing Interview of Applicants Jury debriefing Agreement on the list of projects proposed for funding Lead reviewer briefs the jury about the proposal and remote evaluation 10' pitching followed by 20' Q&As Deliberation & attribution of a preliminary mark A or B* - * (A) Proposed for funding (B) Not proposed for funding
SME Instrument in numbers 700 600 500 400 300 2690 companies in our portfolio 608 in Phase 2 1.1billion committed 990 million in grants over 500 k 4-7% success rate 200 100 0 ES IT UK DE FR NL SE DK IL FI IE PT NO PL AT HU SI EE BE IS EL LT TR CZ LV SK BG RS CY HR RO CH LU MT UA AI FO
Companies by industry 25% 20% 15% 10% Healthcare, cleantech and energy are the top industry sectors 5% 0%
Exits 18 exits since 2014 (12 acquisitions and 6 IPOs) 11 new exits in 2017 (8 acquisitions and 3 IPOs) 250 million private equity funding in 2017 (out of 697M in total) 1 billion in total private funding reached (since 2014)
Private equity investments 697 M Invested in 119 SMEI companies 697 M 445 M 273 M 141 M 2 M 43 M 1/1/2015 7/1/2015 1/1/2016 7/1/2016 1/1/2017 7/1/2017 Source:
Million 200 180 160 140 120 100 Private equity investments by industry 80 60 40 20 0
Examples of companies supported
Our first Initial Public Offering (out of 6) Immunovia Blood test to diagnose pancreatic cancer founded in 2007, Stockholm (SE) Grant: December 2014: 4M Phase 2 https://youtu.be/p_fulql70m4 http://www.immunovia.se/ On 1 December 2015, Immunovia successfully listed on NASDAQ First North
A game-changing ingredient for the pre-diabetic population Nuritas, Ireland: PeptiEUForce Company founded in 2014, Dublin (Ireland) Grants: October 2016: 2.2M Phase2 grant Website: www.nuritas.com
SMEI Instrument as a funding bridge MANTEX, Stockholm: X-Ray technology for real-time in-line measurement of biomass feedstock In 2014, the companies experienced cash-flow issues, and private investors started to pull out of the company. With the successful grant of 1.6 M, the company managed to restructure using the SME instrument funding as bridge and rebuilt value with this project. In May 2017, MANTEX successfully lists on NASDAQ First North
SMEI makes Europe as market more attractive Dune Medical Devices, Israel: Smart biopsy tool for real-time characterization of cancerous cell in breast biopsy The company was hesitating whether to exploit the European or the US market, and was trying to acquire financial support on both sides. The SME instrument grant (3 M ) led them to prioritize the European market over the US market. The company raised since a Series B of 12 M in 2017
SMEI supports disruptive innovation Disrupt 100 Ultrahaptics, UK named as one of the most disruptive tech companies http://2017.disrupt100.com/ Ultrahaptics received a Phase 2 grant of 1.5 M in Sept 2015. It is the first and only company in the world to create a novel haptic feedback system that allows users to feel sensations in their bare hands while interacting in mid-air with a touchless sensing system. The company announced in May 2017 that it had secured 17.9 million in a Series B round
Fast Track to Innovation
Objective: Increasing industrial participation in Horizon 2020 through close-to-market, innovative projects Stimulating private investment in research and innovation Co-creation and open innovation Conditions: 100 M per year Max. Project size 3 M ; no topic limitation Consortia of max. 5 partners with strong industry participation (at least 60%) Market launch within 3 years after project start
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