This study draws on evaluation data to investigate the success of collaborative R&D project proposals submitted to Horizon 2020, the European Union’s Framework Programme for Research and Innovation (FP). Data on project status and evaluation score are used to identify successful and rejected project proposals. We hypothesize that the social or institutional composition of the project consortium explains the outcome of an early-stage R&D collaboration. Using regression analysis, we identify “success factors” at the consortium level, related to (a) the network visibility; (b) level of experience and degree of acquaintance; and (c) the research capabilities and excellence or reputation of consortium members. We show that consortia with high levels of experience and reputation, involving a large share of Western European partners and engaged in more application-oriented consortia, have greater chances of success in acquiring H2020 project funding. This result has implications for the scientific community, as well as for the direction of EU research policy.