The EIC is Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and game changing innovations.
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.
EIC has three main funding tools. There area also supporting measures in order to support the EIC beneficiaries:
The EIC and SME Executive Agency (EISMEA) responsible for supporting the EIC Board and its President, and for implementing the EIC’s activities which are set out in an annual EIC Work Programme.
The EIC takes a pro-active approach to managing funding under the leadership of EIC Programme Managers who develop visions for innovation and technology breakthroughs and steer portfolios of projects to achieve these goals. EIC Programme Managers have a high level of expertise in their field, and are recruited for limited time periods (up to 4 years) to design and oversee EIC funding in their portfolio areas.
A unique feature of the EIC is that it provides funding for individual companies (mainly startups and SMEs) through both grants and investments. The investments currently take the form of direct equity or quasi-equity investments and are managed by the EIC