On 18 March 2021, the European Commission launched the European Innovation Council (EIC). The EIC has a budget of over €10 billion (in current prices) for 2021 – 2027 to develop and expand breakthrough innovations. Several features make the EIC unique in its way of supporting pioneering ventures and projects. This includes:
- The EIC Accelerator supporting small- and medium-sized enterprises (SMEs), start-ups and spinout companies to develop and scale-up game-changing innovations.
- A team of EIC Programme Managers responsible for developing visions for technological and innovation breakthroughs, managing portfolios of EIC projects and bringing together stakeholders to put these visions into reality.
- A new EIC Transition funding scheme to help convert research results into innovations.
- New measures to support women innovators, including a female leadership programme.
The first annual work programme of the EIC is now published and opens funding opportunities worth over €1.5 billion in 2021. Moreover, an applicant’s day is taking place today (Friday 19 March) to provide information on how the EIC works, how to apply and who is eligible. Sessions include information on funding opportunities for research teams, start-ups, SMEs and investors. Funding opportunities for the EIC’s first work programme include:
- EIC Accelerator financing, worth €1 billion, for start-ups and SMEs to develop and scale-up high impact innovations with the potential to create new markets or disrupt existing ones.
- EIC Pathfinder for multi-disciplinary research teams, worth €300 million, to undertake visionary research with the potential to lead to technology breakthroughs.
- EIC Transition funding to turn research results into innovation opportunities, worth €100 million. This first EIC Transition call will focus on results generated by EIC Pathfinder pilot projects and European Research Council Proof of Concept projects, to mature the technologies and build a business case for specific applications.
All projects of the EIC have access to Business Acceleration Services, which provide coaches, mentors and expertise, partnering opportunities with corporates, investors and others, and a range of services and events.
More information is available in the European Commission’s press release.
The Advanced Technology for Industry (ATI) has been set up to promote the creation of a competitive European industry. By monitoring technological trends and up-to-date data on advanced technologies, the project aims to support the implementation of policies and initiatives. For more information, read more about the ATI project.