Periodic Reporting for period 1 - INNOCOACH (INNOCOACH)
Berichtszeitraum: 2021-02-01 bis 2022-01-31
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
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.
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