European Innovation Council

The European Innovation Council (EIC) is a flagship initiative of the European Union, established under the Horizon Europe program, the EU's key funding program for research and innovation. Its primary mission is to identify, develop, and scale up breakthrough technologies and disruptive innovations, particularly those originating from deep tech research. The EIC aims to support top-class innovators, entrepreneurs, and small and medium-sized enterprises (SMEs) with high-potential ideas, helping them navigate the journey from early-stage research to market-ready solutions. It plays a crucial role in strengthening Europe's innovation ecosystem and fostering global competitiveness.

The EIC operates through three main funding instruments: the EIC Pathfinder, EIC Transition, and EIC Accelerator. The EIC Pathfinder supports early-stage research and development (TRL 1-4) for breakthrough technologies, typically providing grants up to €4 million. The EIC Transition bridges the gap between research results and market opportunities (TRL 4-6), offering grants up to €2.5 million. The most relevant instrument for direct company investment is the EIC Accelerator, which targets individual SMEs, including startups and spin-outs, to develop and scale up high-risk, high-impact innovations (TRL 5/6 to 9). This program uniquely offers "blended finance," combining a grant component of up to €2.5 million with an equity investment managed by the EIC Fund.

The EIC Fund's equity investments range from €0.5 million to €15 million, providing crucial capital for scale-up activities, market penetration, and other significant costs. Since its launch in 2021 under Horizon Europe, the EIC has committed over €2.5 billion in funding, supporting more than 500 deep tech companies and 330 research projects. The EIC's strategic focus is on innovations that can create new markets or disrupt existing ones, addressing global challenges and contributing to the EU's strategic autonomy. Through its comprehensive support, the EIC seeks to transform scientific discoveries into commercially viable products and services, driving economic growth and job creation across Europe.