- Rhona Togher, co-founder and CEO of Lios, shared her insights on navigating the EIC Accelerator funding process after securing €6.25m for her deep-tech company.
- The EIC Accelerator, part of the European Innovation Council’s funding framework, aims to support innovative start-ups deemed too high-risk for private investors.
- Togher advises founders to focus on alignment with EU priorities and to present credible evidence of market traction and governance structures.
- The application process is rigorous, with success rates around 5%, but preparation can strengthen a company’s position.
- Strong governance signals maturity and ambition, enhancing the likelihood of securing funding.
Rhona Togher, the co-founder and CEO of Dublin-based Lios, recently shared crucial insights gleaned from the demanding journey of securing funding through the EIC Accelerator. Her scale-up successfully obtained €6.25 million in 2025, and now she aims to guide other founders through the labyrinthine application process.
The EIC Accelerator grant, a key component of the European Innovation Council’s funding framework under Horizon Europe, is designed to help start-ups and SMEs push forward with groundbreaking deep-tech innovations that may not attract private investors due to perceived risks. With a focus on technologies at a Technology Readiness Level (TRL) between 6 and 8, applicants can seek grants of up to €2.5 million alongside investments ranging from €1 million to €10 million.
Ireland boasts an impressive track record in securing funding from European Framework Programmes, having accumulated €1.19 billion through Horizon 2020. Lios itself played a part in this success story, previously secured €2.3 million under the same initiative.
Togher emphasizes that the EIC work programme, not the pitch deck, is the cornerstone document for a successful application. A clear alignment of the proposed technology with EU-level priorities not only strengthens an application but also demonstrates that the project addresses broader societal needs, moving beyond mere cleverness to genuine investability.
A common misconception is that only large teams will gain traction in these applications. Togher reassures prospective applicants that small, agile teams can succeed as long as they present evidence of real market traction, robust intellectual property, and sound governance beyond just the founders. The jury assesses companies through a commercial lens, making the portrayal of a well-structured business critical.
An essential aspect of the application is bridging the so-called ‘valley of death’, a stage recognized as one of the hardest funding gaps for deep-tech firms. While technology may have been validated at pilot stages, transitioning to commercial scale remains a challenge, particularly in Europe. The EIC Accelerator is uniquely positioned to assist companies navigating this transition, providing invaluable support.
To stand out in a sea of applicants, Togher recommends giving precedence to quality over quantity. Evaluators typically prefer concise, genuine feedback from customers and stakeholders rather than numerous generic letters. Authentic industrial validation—reflected through case studies and early commercial traction—speaks volumes compared to mere lab results.
Intellectual property (IP) is another critical area where companies should focus. Understanding competitive dynamics and developing a clear IP strategy can influence the jurors’ perception of market viability.
Togher also highlights the nature of the jury interview; it functions more like an investment pitch than an academic examination. Jurors are primarily interested in commercial aspects—go-to-market strategies, financial robustness, and potential for economic impact, reinforcing the necessity for founders to be thoroughly prepared.
Governance structures also emerge as key indicators of maturity. Independent board members and clear decision-making processes signal a company’s commitment to growth, even for first-time founders.
Ultimately, aspiring applicants should remember that applications to the EIC Accelerator are competitive, with success rates around 5%. However, the process is not just about funding; engaging in rigorous preparation can tighten governance and refine business strategies, making companies stronger irrespective of the outcome.
As Togher aptly puts it, the jury looks to fund initiatives that enhance Europe’s competitive edge. By framing their propositions in a manner that underscores their contributions to economic strength and strategic autonomy, founders can position their companies as vital players in this competitive landscape.
An interesting fact to note: the EIC Accelerator has supported significantly impactful companies across various sectors, illustrating the potential of ECB funding in driving innovation and economic resilience in Europe.
Source: Silicon Republic
