The European Innovation Council (EIC) is Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and 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 EIC will support innovators with breakthrough ideas and market creating innovations that currently face high risks due to the fragmentation of the innovation ecosystem, lack of risk finance and risk aversion.
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.
Supports the exploration of bold ideas for radically new technologies.
Projects typically involve consortia of researchers and other partners from at least three different countries, but there are also opportunities for individual teams and small consortia (two partners).
Grants of up to 3 to 4 million euro support early stage development of future technologies (e.g. various activities at low Technology Readiness Levels 1-3), up to proof of concept. Pathfinder projects can also receive additional funding for testing the innovation potential of their research outputs.
Funds innovation activities that go beyond the experimental proof of principle in a laboratory to support both:
- the maturation and validation of your novel technology in the lab and in relevant application environments
- the development of a business case and (business) model towards the innovation’s future commercialisation.
The expected outcomes of an EIC Transition project are:
- a technology that is demonstrated to be effective for its intended application (TRL 5/6) and
- a business model, its initial validation and a business plan for its development to market.
Grants of up to €2.5 million are available to validate and demonstrate technology in application-relevant environment and develop market readiness.
Offers support to start-ups and SMEs that:
- have a innovative, game changing product, service or business model that could create new markets or disrupt existing ones in Europe and even worldwide,
- have the ambition and commitment to scale up,
- are looking for substantial funding, but the risks involved are too high for private investors alone to invest.
Grant funding:
Non-dilutive, up to € 2.5 million, for innovation activities only (TRL 5-8), to be completed within 24 months.
Direct investment:
Dilutive, up to € 15 million, for market deployment (TRL 9), «patient capital» principle with a 7-10 years perspective.