The European Innovation Council (EIC) has been established under the EU Horizon Europe programme. It has a budget of €10.1 billion to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs.
The strategy and implementation of the EIC is steered by the EIC Board, which has independent members appointed from the world of innovation (entrepreneurs, researchers, investors, corporates and others from the innovation ecosystem).
EIC pilot phase (2018-20)
The EIC pilot phase was launched in 2018, incorporating existing instruments under the Horizon 2020 programme, in particular the SME instrument and Future & Emerging Technology (FET) programme. These funding schemes were brought together in single work programme to provide direct support to innovators throughout Europe.
The EIC pilot phase, together with the existing instruments, supported:
- Over 430 projects on Future and Emerging Technologies, involving over 2700 partners. These projects have generated over 3000 peer reviewed scientific articles, over 600 innovations, and over 100 patents.
- Over 5700 startups and SMEs, who have raised over €5 billion in follow up investments (3 euro for every euro from the EU budget) andon average, more than doubled the number of employees in a 2 year period