Her scale-up Lios has been through the EIC Accelerator grant funding process and successfully secured €6.25m in 2025. Now, Rhona Togher wants other founders to learn what she wishes she had known.
The EIC Accelerator grant is part of the European Innovation Council’s (EIC) funding framework under Horizon Europe. It acts as a funding mechanism for start-ups and SMEs to drive deep-tech innovation and early-stage innovators that would otherwise be deemed too high-risk for private investors.
The EIC Accelerator is targeted at those whose technology is at a Technology Readiness Level (TRL) of 6 to 8. Companies can apply for a grant component of up to €2.5m and an investment component of between €1m and €10m.
Ireland enjoys a strong track record in European Framework Programmes, winning €1.19bn in funding through Horizon 2020 – Lios being one of them, where we secured €2.3m as part of Horizon 2020.
When we applied to the European Innovation Council (EIC) Accelerator, we knew it would be competitive. What we didn’t fully appreciate was just how nuanced the process is.
Since then, through our own experience and many conversations with advisers and former recipients, I’ve gathered insights that I wish every founder knew before pressing ‘submit’. If you’re considering applying for the EIC Accelerator, this is for you.
Start with the work programme, not your deck
The single most important document is not your pitch deck. It’s the EIC work programme. If there’s a defined challenge that clearly fits your technology, you are already in a stronger position. The Commission’s priorities shift with each programme – advanced materials, climate, dual use technologies, energy. Alignment isn’t cosmetic, it’s fundamental.
Ask yourself: Does our solution directly address an EU level priority? Can we clearly articulate the impact on Europe, not just our company? The EIC isn’t asking: “Is this clever?” They’re asking: “Is this investable and strategically important for Europe?”
You don’t need 40 people but you must look investable
There’s a misconception that only large, heavily funded companies win. Not true. Small, focused deep-tech teams, even five to six people, absolutely succeed. What matters is credibility and trajectory.
The reviewer and juror sees a snapshot in time. They are looking for: evidence of real market traction; strong, defensible IP; a team capable of executing; governance beyond the founders; and signs you won’t run out of money next month.
Bridging the ‘valley of death’
The accelerator is designed to bridge TRL 6-8, widely recognised as the hardest funding gap for deep-tech companies. At this stage, your technology works and may have pilot validation, but you are not yet at full commercial scale. In Europe especially, this ‘valley of death’ is where many strong innovations stall – too advanced for research grants, too early for most private investors.
The accelerator is one of the few instruments specifically built to support companies through this high-risk transition, making it an incredibly valuable resource for founders who are genuinely on the cusp of scale.
Evidence wins
Remote evaluators and juries look at your company through different lenses. Remote evaluators are often focused on technical merit and written clarity. Juries, however, are typically more commercial and investment driven and often tougher. They read everything: the short proposal, the full application, annexes, financials, Freedom To Operate, letters of intent. In a single week, a panel may review up to 15-20 companies, absorbing thousands of pages of material.
So how do you stand out? Be credible. Be concise. Be memorable. Be real.
Avoid volume for the sake of volume. A small number of well-written letters from genuine customers and industrial stakeholders will carry more weight than 20 cookie-cutter letters.
The reviewers and jury are looking for genuine industrial validation, not just lab results. Case studies, pilot outcomes and early commercial traction speak much louder than theoretical demand.
IP matters more than you think
Intellectual property and your freedom to operate come up time and again. It’s important to demonstrate: you understand the competitive landscape; you know who is patenting in your space; you have a clear strategy around intellectual property; and there is meaningful white space.
The jury interview is an investment pitch, not a PhD viva
This surprises many founders. The jury panel typically includes:
- Five jury members (often investors/entrepreneurs)
- An European Investment Bank (EIB) representative
- An EIC Programme manager
- An observer and moderator
Most questions are commercial. Who is on your cap table? What is your go-to-market strategy? How will you scale? Tell me about your governance? Is this plan financially robust? And what will be the economic impact of this proposal?
You may have a subject matter expert in the room, but you will almost certainly have multiple investor-type profiles. The underlying question is “Can this become an EU unicorn?” and not “Is this the most elegant piece of science?”.
Governance is a signal of maturity
One recurring theme is governance. Strong juries want to see:
- Independent board members
- Financial oversight
- Documented decision-making
- A clear split of executive responsibility
Even if this is your first company (as it was for us), showing that you are intentionally building strong governance structures and surrounding yourself with experienced advisers demonstrates maturity and ambition. It signals that you are growing the company and yourselves with scale in mind.
Alignment with EU priorities is powerful
Demonstrate how your technology strengthens European competitiveness. Impact isn’t just environmental, it’s economic. Consider how you can contribute to wealth generation, jobs and achieve strategic autonomy. Make the European case.
Be memorable for the right reasons
Will the jury remember you? Showcase your technology with warmth, confidence and simplicity.
Preparation is key. Know your business plan inside out, you are likely to encounter some difficult questions and alternative perspectives.
Remember that the jurors are human. Engage in the interview in an authentic and open way. The jurors want to see you do well.
And finally don’t be discouraged
It’s a really competitive programme, with success rates around 5pc. Sometimes remote evaluators score you highly, and the jury sees it differently. It happens. But strong companies do get funded. And even preparing for the EIC Accelerator, tightening your governance, refining IP strategy, stress testing commercial models – it makes you stronger, regardless of the outcome.
The EIC Accelerator is demanding because it sits at one of the hardest points in a company’s journey, that uncomfortable space between breakthrough and bankability.
If you are there, genuinely there, it can be transformational.
Be honest. Be investable. Be European in your ambition.
And above all, remember, the jury wants to fund companies that will make Europe stronger.
If that’s you, prepare well, and go for it.
By Rhona Togher
Rhona Togher is co-founder and CEO of Lios, an advanced acoustic materials scale-up based in Dublin. The company secured €6.25m in EIC Accelerator funding in 2025 and is now raising for their Series A.
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