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• It is expected that the budget for each Project will be no less than EUR 500,000 per year (including EIT funding and consortium co-funding) and not be higher than EUR 2.000,000 for the total duration of the Project.  
• The co-funding contributed by the Project Consortium should be minimum 30% of the total funding (NOT 30% of the EIT funding).
• The duration of the Project should not exceed 3 years maximum, and Proposal of shorter duration will be favourably evaluated. 
• Funding is disbursed on a yearly basis, with a certain percentage of pre-financing being paid as a lump sum during the course of the year, and a balance payment being paid during the following year on an actual cost basis. 

• The project Consortium must consist of a minimum of two Project participants, coming from a minimum of two different countries, and a maximum of 4 Project participants.
• The project Consortium must include Project participants from at least two sides of the knowledge triangle (education, research, industry/business)
• The lead Project participant must be a Core or Associate Partner (or Linked Third Party to a Core or Associate Partner) of EIT RawMaterials by the time the project starts.

EIT RawMaterials funds a Project by obtaining a percentage of the share capital of the Project company. This investment structure entails: 

• Valuation and shareholding % for EIT RawMaterials
• Investment terms and articles of association
• Shareholder agreement
• Any related party issues / contracts
• Corporate governance and board representation

EIT RawMaterials seeks for Projects to be structured as separate companies, operating at arms’ length from the commercialisation partners. The proposal should indicate the proposed structure through which the investment would be made, for example, the participation in the equity of the company undertaking the project or the participation in the equity of a spin off special purpose company (SPC) through which a project is undertaken with one or more sponsors. 

The DRAFT Proposal (stage 1) should not exceed 5 pages and should contain: 

• an executive summary, with objectives, outcomes and final results expected (1/2 page), 
• a short description of the consortium with role of each partner (1/2 page) 
• detailed information addressing 5 criteria (4 pages)

Only proposals receiving “yes” to all of 5 criteria at Stage 1 will be invited to submit a FINAL proposal in Stage 2

The 5 criterias to address are:

1. the Proposal’s objective and demonstrate how it is aligned to the expected impact in the Strategic Agenda 2021-2027.
2. the Proposal should clearly state what is the impact of the solution by the selection of appropriate KPIs with targets
3. the innovativeness of the solution should be clearly justified with a description of the state of the art and the inclusion of a table describing the competitive advantage of the solution versus available one(s) already in the market 
4. commercial attractiveness: Clearly identify the products and/or services. How you will produce and deliver them?  How do you intend to sell them? Who are the end users and customers (list potential ones, are they part of your project Consortium)? What is the market dynamics and forecast? What is your business model?
5. commercialisation capacity to enter the market: Who will produce what? Who will commercialise what? What is their role during the project? What is the background of the members of the commercialisation organisation? Do you have access to the potential end user and future customers for validation and piloting?

Zoltan Javor
+358 45 3472373
zoltan.javor@aalto.fi