An ongoing service for access to funding and investment preparations targeting EIC beneficiaries. There are three sub-services within this service package:
2a) Access to EIB Venture Debt: Support is offered through the following, for EIC beneficiaries to potentially get access to the EIB’s Venture Debt – Initial Contact (dry run) for the company with the EIB; Support in addressing gaps: Content review, Mentoring support through Documentation/DD review, Pitch & Interview Coaching; Issuance of a Letter of Recommendation by EIT Manufacturing; Support in the final negotiation process. (Please refer to the link for details about EIB and product, and requirements (Domain, Size, required Funding size, etc.) to be considered: https://www.eib.org/en/products/equity/venture-debt/index.htm).
2b) Simplified evaluation in EIT Manufacturing Investment call (‘Accelerate’): Lighter & quicker Due Diligence based on already available EIC reviews and Due Diligence documentation, and if positive, taken directly to EIT Manufacturing’s Investment Committee, for potentially receiving a sub-grant (and services) from EIT Manufacturing. Please refer to the following link for details on eligibility, funding size, etc.: https://www.eitmanufacturing.eu/calls/accelerate-2024/.
2c) Investment Readiness Preparation: Pitch Review Support, Founders’ Mentoring, Due Diligence/Documentation review Support), Access to Network of Investors. Note that all Due Diligence/Documentation review support (Commercial, Technical, or both) offers will be aimed at helping the EIC beneficiary estimate the company’s value, assets, technological competence, and commercial potential, depending on the goals of each innovator. This support would not mean a full-fledged Due Diligence itself but screening support from EIT Manufacturing to the EIC beneficiaries during their own DD process. This support is aimed at EIC beneficiaries to receive feedback from our experts on gaps in their DD processes, for error-checks/fact-checking on their Due Diligence documents and other Investment Committee memos, to better identify requirements of potential investors and receive tailored feedback specific to their fundraising needs and investment potential. The topics involve Company presentation/Business Model/Plan, Financials, planned Investment details, Competitive landscape, Exit potential, Risk Assessment, etc. Note that the Access to network of Investors offer involves access to the EIT Manufacturing ecosystem, for support towards their fundraising. More specifically, this would mean some introductions to investor parties.
The main target audiences are EIC beneficiaries with TRL 6 and above. The implementation will be hybrid (Online/Direct) conducted via (a) dedicated EIT Manufacturing point(s) of contact.
These services are offered through personnel (points of contact) at the EIT Manufacturing Headquarters (HQ). The services may only be offered to companies that fit the strategic objectives of EIT Manufacturing and associated/partner manufacturing entities. For more information, please click here:https://www.eitmanufacturing.eu/what-we-do/strategic-objectives/.
EIC beneficiary applicants should note that under the usual circumstances, the support period is expected to last 2-12 months, depending on the needs of the beneficiaries and service requirements. Nevertheless, the period may be adjusted depending on the requirements of EIC beneficiary/applicants and the EIC Partner’s capacity at that moment in time, keeping in mind this Partnership Programme’s duration and timeline as well (e.g., the period will be reduced/increased). All service periods will be assessed on an individual basis.
Support Fundraising
The pricing for the service offered as support to EIC beneficiaries, for the pre-defined period of support assessed on a case-by-case basis, are as follows:
2a) Access to EIB Venture Debt: €15000.
b) Simplified evaluation in EIT Manufacturing Investment call (‘Accelerate’): NIL/Free; 2c) Investment Readiness Preparation: €10000.