If the Host Institution of an ERC PoC proposal is a spin-off company, would the Commission check the company’s financial capacity? If yes, what are the financial requirements for a start-up company?
When applying for an ERC PoC grant, financial viability check is applicable to the coordinators. Sole applicants are not considered as “coordinators”. They will only be subject to a financial viability check if there are justified grounds to doubt their financial viability.
There are, on the basis of available information, grounds to doubt the financial capacity of the entity, if the entity e.g.:
- Has weak financial viability results from other projects or another sources;
- Has been involved in cases of serious administrative errors or fraud;
- Is subject to pending legal procedures or judicial proceedings for serious administrative errors or fraud;
- Is subject to an attachment order;
- Is subject to a recovery order for an outstanding amount issued by the Commission/Agency on which the payment is significantly overdue;
- Has been subject to substantial findings in an audit by the Commission/Agency, Court of Auditors or an OLAF investigation within the last 2 years that put in doubt its financial capacity.