EIC ACCELERATOR GREEN DEAL CALL - (19 MAYO 2020) Luis J. Guerra (@LGuerra_CDTI) Esther Casado (@ECasado_CDTI) División de Programas Europeos ...
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EIC ACCELERATOR GREEN DEAL CALL
(19 MAYO 2020)
Luis J. Guerra (@LGuerra_CDTI)
Esther Casado (@ECasado_CDTI)
División de Programas Europeos @CDTIoficial
EIC= “RE-volution, not evolution from H2020”
EIC Accelerator (Enhanced Pilot)
El proceso de evaluación
Cómo os podemos ayudar
2
El fase 2 se transforma en el EIC Accelerator y busca
Proyectos que lleguen y escalen en el
mercado…
… que a día de HOY no sean bancables
(= PYME incapaz de conseguir HOY
toda la financiación que necesitan
para el éxito del negocio).
…pero tengan un equipo y una ventaja
competitiva sólida.
En temas Green Deal y con target especifico de Woman-led SMEs
3
EIC Acelerador ofrece…
GRANT EQUITY
0,5-2,5 M€ (70%). Hasta 15 M€ (
La propuesta TIENE que cubrir ambas partes
**If you only request grant, you must
demonstrate your ability to secure other
resources for the activities above TRL 8
Grant only ¿Cuánto y quién?
¿Dinámicas de mercado?
Grant with consent
¿Operaciones comparables?
Grant + equity
5
¿Qué implica pedir capital?
Cuánto necesito
(hitos vs generación de valor)
Cuánto valgo
(valoración acordada)
Quién me compra
(expectativas y operativa)
Cómo me compra
(cláusulas y condiciones)
https://ownyourventure.com/equitySim.html
6
EIC= “RE-volution, not evolution from H2020”
EIC Accelerator (Enhanced Pilot)
El proceso de evaluación
Cómo os podemos ayudar
7
EI proceso de evaluación
Solicitud: Part A + Part B
(memo, Anexos, Excel, pitch)
Evaluación remota
4 expertos - 3 criterios
15 puntos
8
La memoria son 30 páginas para convencer de:
Section 1 Excellence
Innovación verde con gran potencial
Idea and solution/ innovativeness/ stage of High risk -high potential
development/ feasibility results / risks con actividades de TRL6-8
Section 2 Impact
Market and customers/ commercialisation
Mercado conocido + ventaja
strategy/ Green Deal impact/ external
competitiva tecnológica con potencial
strategic partners / IP/ Scale-up potential/
de escalado+ relevancia Green Deal
KPIs/ broader impacts
Section 3 Implementation
Empresa “no bancable” pero con
Team and capabilities/ financing needs /equity
equipo & capacidad de conseguir
/need for EIC support / risks / approach (WPs,
tracción para llegar a mercado y
deliverables, milestones)/ resources
escalar el negocio …. en 5 WP
9
1) Empecemos por ser elegible…
10Eligiendo el objetivo del Green Deal adecuado
Increasing EU climate mitigation/adaptation ambition
Between 1990 and 2018, greenhouse gas emissions
were reduced by 23%, while the economy grew by
61%. Current policies aim to reduce greenhouse gas
emissions by 60% by 2050. (Green Deal aim to
reduce them at least 50% by 2030).
As climate change will continue to stress Europe in spite
of the mitigation efforts , strengthening the efforts on
climate-proofing, resilience building, prevention and
preparedness is crucial.
It will be important to ensure that across the EU, all
stakeholders are able to access data and to develop
instruments to integrate climate change into their risk
management practices.
11Eligiendo el objetivo del Green Deal adecuado
Supplying clean, affordable and secure energy
The power sector must be based largely on
renewable sources, (offshore wind production
increase is essential) complemented by the rapid
phasing out of coal and decarbonising gas.
The integration of renewables, energy efficiency
and other sustainable solutions across sectors
will help to achieve decarbonisation at the
lowest possible cost for consumers.
This framework should foster the deployment of
innovative technologies and infrastructure, such
as smart grids, hydrogen networks, energy
storage or carbon capture, storage and
facilities…
12Eligiendo el objetivo del Green Deal adecuado
Transition to industry to a clean and/or circular economy
About half of total greenhouse gas emissions and more
than 90% of biodiversity loss and water stress come from
resource extraction and processing of materials, fuels and
food.
The decarbonisation and modernization of energy
intensive industries, such as steel, chemicals and cement,
is essential.
The circular economy action plan will prioritize reducing
and reusing materials before recycling them and will focus
in particular on resource-intensive sectors such as textiles,
construction, electronics and plastics.
EU industry needs ‘climate and resource frontrunners’ to
develop the first commercial applications of breakthrough
technologies such as clean hydrogen, fuel cells and other
alternative fuels, energy storage, and carbon capture,
storage and utilization facilities.
13Eligiendo el objetivo del Green Deal adecuado
Building and renovating in an energy and resource efficient way
Increasing building renovation rates is a challenge
but renovation lowers energy bills, and can boost
the construction sector supporting many SMEs and
local jobs.
The design of new and renovated buildings at all
stages should be in line with the needs of the
circular economy, and lead to increased
digitalization and climate-proofing of the building
stock.
Particular attention will be paid to the renovation
of social housing, schools and hospitals, as the
money saved through building efficiency will be
money available to support education and public
health.
14Eligiendo el objetivo del Green Deal adecuado
Accelerating the shift to sustainable and smart mobility
To achieve climate neutrality, a 90% reduction in
transport emissions is needed by 2050.
Automated and connected multimodal mobility
together with smart traffic management systems
enabled by digitalization is key to increase the
efficiency of the whole transport system.
EU transport system and infrastructure will
need to support new sustainable mobility
services (public transport or not) that can
reduce emissions, congestion and pollution,
especially in urban areas
The EU should ramp-up the production and
deployment of sustainable alternative transport fuels
including recharging and refuelling stations.
15Eligiendo el objetivo del Green Deal adecuado
Transition to a fair, healthy and environmentally-friendly food system
Food production generate air, water and soil pollution,
contributes to the loss of biodiversity and climate
change, and consumes excessive amounts of natural
resources. The Farm to Fork Strategy will:
Strengthen the use of sustainable practices, such as
precision agriculture, organic farming, agro-ecology,
agro-forestry and stricter animal welfare standards and
reduce the use and risk of chemical pesticides, fertilizers
or antibiotics.
Reduce the environmental impact of the food
processing and retail sectors by taking action on
transport, storage, packaging and food waste.
It will stimulate sustainable food consumption and
promote affordable healthy food including actions
to help consumers to choose healthy and
sustainable diets.
16Eligiendo el objetivo del Green Deal adecuado
Preserving and restoring ecosystems and biodiversity
The biodiversity strategy will also include proposals to
green European cities and increase biodiversity in urban
spaces.
The new EU forest strategy will have as its key objectives
effective afforestation, and forest preservation and
restoration in Europe, to help to increase the absorption
of CO2, reduce the incidence and extent of forest fires,
and promote the bio-economy.
A sustainable ‘blue economy’ will have to play a central
role in alleviating the multiple demands on the EU's land
resources. The sector can contribute by improving the use
of aquatic and marine resources, to, for example, by
promoting the production and use of new sources of
protein that can relieve pressure on agricultural land.
17Eligiendo el objetivo del Green Deal adecuado
Releasing a zero pollution ambition for a toxic-free environment
To protect Europe’s citizens and ecosystems, the EU
needs to better monitor, report, prevent and remedy
pollution from air, water, soil, and consumer products.
The Commission will propose measures to address
pollution from urban runoff and from new or
particularly harmful sources of pollution such as micro
plastics and chemicals, including pharmaceuticals.
The Commission will review EU measures to address
pollution from large industrial installations.
To ensure a toxic-free environment, the Commission
will present a chemicals strategy for sustainability to
protect better against hazardous chemicals and
encourage innovation for the development of safe
and sustainable alternatives.
182) mide el impacto en términos Green Deal
Area KPI
Increasing EU climate mitigation/ adaptation ambition Saved emissions
Saved emissions, renewable energy share,
Supplying clean, affordable and secure energy
security levels, price reduction
Transition to industry to a clean and/or circular economy Saved emissions, resource savings
Building and renovating in an energy and resource
Saved emissions, efficiency
efficient way
Saved emissions, efficiency, pollution
Accelerating the shift to sustainable and smart mobility
reduction, price reduction
Transition to a fair, healthy and environmentally-friendly Resource savings, efficiency and
food system sustainability rates
Saved emissions, resource savings and
Preserving and restoring ecosystems and biodiversity
sustainability rates
Releasing a zero pollution ambition for a toxic-free Saved emissions, sustainability rates and
environment pollution reduction
19y cuantifícalo directa e indirectamente
Para el año 2020 + X Nª Clientes Facturación KPIs
Total available market Ntam M€tam Xx
(TAM)
Serviceable available market Nsam M€sam Xx
(SAM)
Serviceable obtainable market Nsom M€som Xx
(SOM)
ΔKPI_d= Cuánto varia mis KPI o el de mis clientes directos con mi
proceso o producto.
ΔKPI_i= Cuánto varía (en media) los KPI de los clientes de mi
cliente gracias a mi proceso o producto.
20En base a evidencias defendibles
Impacto directo = Nsom x ΔKPI_d
Impacto indirecto = Nsom x ΔKPI_i x Nsom (de tu cliente)
Por sectores, con previsiones post-COVID-19, con diferentes escenarios… ???
213) Argumenta la “no-bankability”
A proposal shall be considered as non-bankable if it is not able to attract sufficient
financing due to the high-risk level or the existence of a market failure.
For instance these situations could
include companies with:
No revenues and no assets at all
Not enough assets to be able to
generate revenues
Not yet profitable commercial
activities
Not yet attractive to other
investors
Not enough profitable commercial
activities?
22Susténtala en base a las cuentas del Anexo 4
¿Tienes las cuentas saneadas?
¿Cuál es tu cash-flow y “burn rate”?
¿Necesitas la ayuda pública?
¿Cuándo empiezas a vender?
¿Cuándo lo haces con volumen?
¿Cómo financias el escalado?
¿Tienes una “cap-table” equilibrada?
234) Define tu “EIC need” con hitos de valor
Xx grant Yy equity
TRL 6-8
X Public funds Company
Y Private funds value=XXXX
Company
value=XXX
Company value=XX
Hoy Hito x Hito y
24Evaluación remota sin “ponderación”
Threshold: 13/15 Impact (8, 33%)
Will to pay
Interview: 13.65 Target customers
Market conditions
Scale-up potential
Aligned strategy
EU dimension, FTO
Commercialization plan
Excellence (5, 33%)
High risk-high potential
Mature status (TRL 5-6)
Beyond SoA
Objectives-approach-impact consistency
Viability (risk vs opportunities)
Implementation (4, 33%)
Non bankability
Resources
Workplan
25 TeamEI proceso de evaluación
Solicitud: Part A + Part B
(memo, Anexos, Excel, pitch)
Evaluación remota
4 expertos - 3 criterios
15 puntos
Entrevista BXL
DL+7W
10´-30´ (3pax)
Aprox. 200 empresas?
Corte de marzo: casi 4000 empresas-1800 COVID (160M€+150M€)
Invitación entrevistas (11 al 20 de mayo): 27 al 1 mayo
Simulacro CDTI: 7 y 8 de mayo
26Con la entrevista se pretende…
Confirmar lo ya evaluado por los
evaluadores y su alineamiento con lo
que busca el EIC Accelerator.
Demostrar que hay un equipo capaz de
llevar a cabo el proyecto y que está
alineado con la propiedad.
Entender si hay coherencia entre el
pasado, el presente y el desarrollo
futuro de la compañía.
27Entrevistas en Bruselas más exigentes
11 paneles “temáticos”
50%-40%-25%
Entrevistas más largas
(10’+30’)
Posibilidad de “contraofertas”
Grant vs equity no separado
Women-led *SME (25% de las entrevistas).
* woman-led SME (including start-ups) means that the Chief Executive Officer (CEO) of the company, or the equivalent
position, is held by a woman at the time of application, interview and award of the EU Financial support.
28Los tres elementos clave en contexto Green Deal
Negocio verde escalable (con
gap de financiación*)
Mercado relevante (bien
caracterizado)
Equipo y empresa capaz (y
complementario)
29Con una presentación que os ayude a transmitirlo,
Titular = mensaje claro x
trasparencia.
Agrupando los conceptos
de 3 en 3 (no párrafos
para leer en directo)
Diseño “profesional”, con Formato pitch recomendado
gusto y acorde al TRL. en la documentación de este
evento
30…un discurso que enganche y agite
Opening “de memoria”.
Ingles escrito-oral-publico
Uso de los silencios, la voz
(y el cuerpo)
Y una red que no falle.
31…y un presentador/equipo que esté a la altura.
Ensaya, ensaya, ensaya.
Simulacro CDTI la semana antes + pack preguntas
Respuestas cortas, concisas y repartidas
32EI proceso de evaluación
Solicitud: Part A + Part B
(memo, Anexos, Excel, pitch)
Evaluación remota
4 expertos - 3 criterios
15 puntos
Entrevista BXL
DL+7W
10´-30´ (3pax)
Aprox. 200 empresas?
Inversión (opcional) Due diligence preliminary doc
Due diligence incluido en documentación del
Market test evento
33… para testar el interés del mercado privado
Grupo EIB https://ec.europa.eu/easme/sites/easme-
Investment Advisor EIC Fund site/files/eic_accelerator_fund_pilot_invest
ment_guidelines_for_applicants.pdf
Platforma Digital Creación
Match-making with potential co-investors
del Fondo
EIC Q2
Inmediate No inmediate
Market interest
2020?
Market interest
• Mostly taken by external • Identify mentor, incentivize
inverstors • Lead, de-risk, nurture
Strong Indicative • Mostly convertible notes
• Facilitate investment
• Ensure round stability future interest • Drive milestones
• Align to investment • Expose to co-invertors
terms
• Understand reasons for no
interest
• Lead or co-lead
No interest • Lead, sets terms
Partial • Converge round terms
• Mostly convertible type
• Mostly equity type
• Equity, as appropriate
34Tendencias en la evaluación
(ES) Octubre 2019 Enero 2020
Prop F2F Funded Prop F2F Funded
15 +21 4 +19
Grant only 425 (20) 35 (2) 297 (14) 21 (3)
(0+2) (1+2)
21+20 19+3
Grant with consent 937 (130) 101 (15) 977 (105) 85 (5)
(2+2) (2+0)
19 +20 18 +3
Blended finance 490 (78) 53 (4) 575 (91) 64 (15)
(2+2) (4+0)
75 (41%) 44 (25%)
Total 1852 (228) 189 (21) 1849 (220) 170 (20)
(6) (30%) (7) (35%)
Entrevistas mucho más competitivas (1 a 4 vs 1 a 2)
Menos contraofertas en las entrevistas.
Más financiación mixta y menos “consent”.
35Tendencias en las operaciones
(ES) Oct-19 Ene-2020 Fondo del EIC aún no establecido
19+20 19+3 pero BEI ya en contacto con las
Total
(2+2) (4+0) empresas.
>12M€ 3 (0) 2 (0)
Ticket medio creciente.EIC= “RE-volution, not evolution from H2020”
EIC Accelerator (Enhanced Pilot)
El proceso de evaluación
Cómo os podemos ayudar
37Con la propuesta…
Revisión de proyectos antes del corte
Herramientas de mercado y negocio
Revenue Financial Market Value
model tool model tool analysis proposition tool
https://access2eic.eu/the-
annotated-proposal-eic- http://www.access4smes.eu/2018/02/08/the-
accelerator-template/ access4smes-toolbox-set-is-on-line/
38Con la entrevista…
Simulacro entrevistas step 2
Welcome pack
+300 real questions
Logistics & process
Pitching docs
https://access2eic.eu/pu
blications/publication/
39EIC= “RE-volution, not evolution from H2020”
EIC Accelerator (Enhanced Pilot)
Grant only
Grant with consent
Blended finance
El proceso de evaluación
Green Deal
Evaluación remota
Entrevistas
Cómo os podemos ayudar
En la propuesta
En la entrevista
Simulacros CDTI: 7-8/5 online - 25/06- 12/11
40Luis J. Guerra (luis.guerra@cdti.es) Esther Casado (esther.casado@cdti.es)
¿Preguntas para CDTI?
Luis Guerra & Esther Casado
(CDTI)You can also read
