Christophe Jurczak, Founder & Partner
We realised very early that the management team of a deeptech start-up cannot dedicate the time required to write a successful EIC application, given the workload required, the level of competition, and the odds of success. The fact that a consulting organisation was willing to take the risk and cost of failure in such competitive instruments convinces us to outsource this complex and risky work. We estimate that we reduced our application workload by a factor of 4x while increasing our chances of success by a factor of 5x. The innovation consultants helped us craft the funding application and guided us through the interview phase and the negotiation with the EIC Fund.
Pasqal is the first company of our portfolio to receive EIC Accelerator blended funding. Pasqal was awarded €7.3M on the most competitive of all deadlines (October 2020), where the success rate was only 0.9%. Given the level of oversubscription of this call, it is evident that we would not have been able to succeed without proper support.
After the successful outcome of the EIC Accelerator application for Pasqal, we recommended all our portfolio companies to retain the same services for EIC applications. We were convinced by their high degree of knowledge in the quantum domain, their agility and reactivity. For example, with their support, we were able to assemble an EIC Pathfinder consortium and develop the full application in less than 3 weeks.
Deeptech start-up managers do not have the time and skillset required to develop high impact funding applications, as their time is better spent running their operations. Innovation funding consultants are able to bridge the gap between the start-up world and the EC funding world. They are much more than grant writers, as they follow our companies for at least 12-18 months before submitting a funding application, building a deep understanding of the technology and the market, and providing valuable advice on our fundraising strategy.
We recommend all deeptech SMEs to consider the support of innovation funding consultants, in particular for high-risk, high-impact funding instruments like EIC Accelerator, EIC Transition and EIC Pathfinder.
Pasqal is the first company of our portfolio to receive EIC Accelerator blended funding. Pasqal was awarded €7.3M on the most competitive of all deadlines (October 2020), where the success rate was only 0.9%. Given the level of oversubscription of this call, it is evident that we would not have been able to succeed without proper support.
After the successful outcome of the EIC Accelerator application for Pasqal, we recommended all our portfolio companies to retain the same services for EIC applications. We were convinced by their high degree of knowledge in the quantum domain, their agility and reactivity. For example, with their support, we were able to assemble an EIC Pathfinder consortium and develop the full application in less than 3 weeks.
Deeptech start-up managers do not have the time and skillset required to develop high impact funding applications, as their time is better spent running their operations. Innovation funding consultants are able to bridge the gap between the start-up world and the EC funding world. They are much more than grant writers, as they follow our companies for at least 12-18 months before submitting a funding application, building a deep understanding of the technology and the market, and providing valuable advice on our fundraising strategy.
We recommend all deeptech SMEs to consider the support of innovation funding consultants, in particular for high-risk, high-impact funding instruments like EIC Accelerator, EIC Transition and EIC Pathfinder.
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Company: Quantonation
Type of company: SME Location: France Services received: Proposal elaboration EAIC member that provided support: Zaz Ventures |
