Periodic Reporting for period 1 - INNOCOACH (INNOCOACH)
Reporting period: 2021-02-01 to 2022-01-31
Comprising 99% of European businesses, amounting to 85% of newly created jobs in the last 5 years and providing two-thirds of total private sector employment, SMEs have proven themselves to be the backbone of the European economy ensuring a prominent role. SMEs have strong growth potential and capacity to promote EU’s economy.Regarding their significant role in the economy, the EU provides many instruments for SMEs to include them into the market and encourage them to produce more. Within this scope, Innovation Agencies are significant players to foster SMEs to benefit from EU’s funding instruments and provide them important services to promote their competitiveness in the market. However, as it is indicated in the work program, SMEs are not satisfied with these supports. These supports are not matched with SMEs needs. That is why, Innovation Agencies need to have a structured way to understand SMEs’ basic needs.Most often, Innovation Agencies provide some services such as market research, business plan and innovation management. However, they do not do it in a structured or a common way. Each Innovation Agency has different methods based on its skills and competences.
When a new instrument emerges, Innovation Agencies seek a way to have a common understanding of it. For instance, the EIC Accelerator (that builds on the H2020 SME Instrument), part of the European Innovation Council (EIC) pilot, focuses on market-creating innovation and has been updated. With new updates, only National Contact Points and some consultant agencies give support services to SMEs. Many Innovation Agencies do not have any structured and comprehensive methodology to prepare SMEs for such an updated program. On the other hand, SME instrument - or EIC Pilot- requires a comprehensive and holistic approach to receive more successful projects. Not to mention that the EIC pilot has Grant and equity options. This blended method is not familiar for SMEs and they need orientation.Following EIC Accelerator principles, companies should have realistic financial plans and should prove that the product can be disruptive on the global market (market analysis is important). EIC pilot is needed for high-risk projects and fast evolving technologies and markets. If companies do not fit within these criteria, they should be directed to other forms of financing. Another significant point is that EIC supports the European Green Deal, so proposals must fall into the circular economy paradigm and digitalization of companies. Furthermore, Pitch has to be included already at proposal stage and reflect the structure of the proposal in a compact and effective way speaking a succinct language. In parallel there is the due diligence that can state the start of equity financing (usually 6 months after the project starts). The project can therefore last for many years (exit is considered after 7 to 10 years), depending on the amount required for equity. The aforementioned background clearly states that the support of Innovation Agencies is very important since the beginning of the application “trip” and a common methodological approach is much needed by SMEs in order they get prepared in a mindset, based on transparency, even information access and shared knowledge.
The overall objective of the INNOCOACH project is the exchange of knowledge on Europe EIC Program Coaching for SMEs through peer learning activities, promoting the SMEs participation and support.
To serve this goal, INNOCOACH aims at Developing expertise on EIC Proposal writing steps among Innovation Agencies through analyzing EIC components and identifying supporting services needed by SMEs.
Engaging with innovation Agencies such as EENs or business support organizations to create synergy on EIC coaching
When a new instrument emerges, Innovation Agencies seek a way to have a common understanding of it. For instance, the EIC Accelerator (that builds on the H2020 SME Instrument), part of the European Innovation Council (EIC) pilot, focuses on market-creating innovation and has been updated. With new updates, only National Contact Points and some consultant agencies give support services to SMEs. Many Innovation Agencies do not have any structured and comprehensive methodology to prepare SMEs for such an updated program. On the other hand, SME instrument - or EIC Pilot- requires a comprehensive and holistic approach to receive more successful projects. Not to mention that the EIC pilot has Grant and equity options. This blended method is not familiar for SMEs and they need orientation.Following EIC Accelerator principles, companies should have realistic financial plans and should prove that the product can be disruptive on the global market (market analysis is important). EIC pilot is needed for high-risk projects and fast evolving technologies and markets. If companies do not fit within these criteria, they should be directed to other forms of financing. Another significant point is that EIC supports the European Green Deal, so proposals must fall into the circular economy paradigm and digitalization of companies. Furthermore, Pitch has to be included already at proposal stage and reflect the structure of the proposal in a compact and effective way speaking a succinct language. In parallel there is the due diligence that can state the start of equity financing (usually 6 months after the project starts). The project can therefore last for many years (exit is considered after 7 to 10 years), depending on the amount required for equity. The aforementioned background clearly states that the support of Innovation Agencies is very important since the beginning of the application “trip” and a common methodological approach is much needed by SMEs in order they get prepared in a mindset, based on transparency, even information access and shared knowledge.
The overall objective of the INNOCOACH project is the exchange of knowledge on Europe EIC Program Coaching for SMEs through peer learning activities, promoting the SMEs participation and support.
To serve this goal, INNOCOACH aims at Developing expertise on EIC Proposal writing steps among Innovation Agencies through analyzing EIC components and identifying supporting services needed by SMEs.
Engaging with innovation Agencies such as EENs or business support organizations to create synergy on EIC coaching
The Project started with a literature review in partner countries. Afterward, the needs of the target group were analyzed through surveys and interviews. 51 SMEs participated in surveys and 19 innovation agencies joined into the interviews to explain their coaching system. After understanding the needs of the target group, peer learning activities were applied. We identified the common challenges for SMEs in the EIC Accelerator program and current support services innovation agencies had. Greece and Turkey have a similar success rate in EIC Accelerator program while İtaly is much more beyond. Hence, at the second peer learning meeting, ComoNext shared its own experiences on coaching for EIC Accelerator program. Project partners have also been informed on EIC Accelerator procedure and new comings. We developed a methodology and some tools to serve it.
To disseminate and exploit our methodology a pilot workshop was organized with 18 participants. The developed methodology and tools were shared with participants and at the end of the event, B2B coaching services were provided. By doing so, it was aimed to test the tools and the capacity of project partners to apply them. After the event, feedback was collected from participants and all materials were finalized accordingly. Desing option paper was constructed on those findings and reports.It was also presented on a live platform to reach as many as people,SMEs and İnnovation agencies.
To disseminate and exploit our methodology a pilot workshop was organized with 18 participants. The developed methodology and tools were shared with participants and at the end of the event, B2B coaching services were provided. By doing so, it was aimed to test the tools and the capacity of project partners to apply them. After the event, feedback was collected from participants and all materials were finalized accordingly. Desing option paper was constructed on those findings and reports.It was also presented on a live platform to reach as many as people,SMEs and İnnovation agencies.
The project was beyond the expected result.
Innocoach reached more SMEs and innovation agencies than it proposed. At the beginning of the project, project partners from Greece and Turkey had little information on the EIC Accelerator program but at the end, they were well informed on the program, new AI platform, and new comings. They all were very familiar with the developed tools. By doing so, the project had a great impact on partner regions to promote the EIC accelerator program. It is believed that this methodology and tools will enable project partners and their network to promote their support services and let them have more SMEs applying in the EIC Accelerator program
Innocoach reached more SMEs and innovation agencies than it proposed. At the beginning of the project, project partners from Greece and Turkey had little information on the EIC Accelerator program but at the end, they were well informed on the program, new AI platform, and new comings. They all were very familiar with the developed tools. By doing so, the project had a great impact on partner regions to promote the EIC accelerator program. It is believed that this methodology and tools will enable project partners and their network to promote their support services and let them have more SMEs applying in the EIC Accelerator program