We will arrange a NDA so you are able to share with us all of the relevant documentation to understand your technology (e.g. business plan, pitch deck, marketing brochure, business model canvas etc.).
We will take some time (around 1 week) to digest this information and do some of our own research.
Following this, we try to follow a 3 cycle approach:
Step 1 - We arrange a project scoping session to go through the application template and plug any gaps which exist between the information you have provided and what the application asks. We then aim to prepare a first draft within 2 weeks of this meeting. We then send this to you for review.
Step 2 - We arrange a 2nd meeting to go through your feedback and agree on what amendments are required. We then aim to prepare this "optimised version" within 2 weeks of the 2nd meeting.
Step 3 - We send you the "semi-final" version for final review. By this point the application should be looking almost finished, with some final minor tweaks and formatting to take place. Following your sign off, we then look to prepare the submission via the Participant Portal.
Depending on the amount of information you have and the level of research we need to perform ourselves, the standard timeframe from start to finish is between 4 and 6 weeks.
RedKnight operates a mixed model costing structure whereby there is a fixed fee for the bid-writing, development and submission, and a success fee if the grant is secured.
For the EIC full application, our fixed fee for the bid-writing, development and submission is £7,200 (+ VAT where applicable). We estimate the EIC full application will take 20 days to complete, hence how the daily rate has been calculated (£360) and subsequently converted into US dollars ($500).
The success fee is 5% for the grant element and 1% of the equity element. These fees can be broken into quarterly of monthly instalments agreed over a period of time (usually the duration of the project where grant and/or equity payments are made to the SME from the EC).