Official Launch of the European Innovation Council – Martel Innovate

The European Innovation Council (EIC) was launched to support Europe’s economy as a key component of Horizon Europe and represents the most ambitious innovation initiative that Europe has taken, with a budget of €10 billion for the period 2021-2027.

The European Innovation Council will help to turn scientific ideas into breakthrough innovations by combining research on emerging technologies with an accelerator programme and a dedicated equity fund, the European Innovation Council Fund, to scale up innovative start-ups and small and medium-sized businesses (SMEs). Around €3 billion of the EIC’s budget will go towards the EIC Fund.

The first annual work programme of the EIC is published, opening funding opportunities worth more than €1.5 billion in 2021. At the same time, two prizes for Women Innovators and the European Capital of Innovation are open for applications.

Margrethe Vestager, Executive Vice-President for ‘A Europe Fit for the Digital Age’, said: “We now have a fund to support small and medium sized companies that do breakthrough innovation, access equity and scale up innovative start-ups. This is a way to convert research results into business and to develop visions for technological and innovation breakthroughs.”

Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “The European Innovation Council is Europe’s most ambitious initiative to support the breakthroughs Europe needs to recover from the economic crisis and accelerate the transition to a green and digital economy. By investing in visionary research and innovative companies, it will reinforce European technological sovereignty, scale up hundreds of Europe’s most promising start-ups, and pave the way for the upcoming European Innovation Area.”

The European Innovation Council capitalises on lessons learnt and achievements from its pilot phase during the period 2018-2021. It supported over 5,000 SMEs and start-ups, as well as over 330 research projects with a budget of €3.5 billion.

Key novelties of the European Innovation Council

The European Innovation Council has several features that make it unique in its way of supporting pioneering ventures and projects.

Composed of leading innovators, the EIC Advisory Board delivers the strategy of the European Innovation Council and provides advice on its implementation (see today’s statement of the EIC Advisory Board).

Funding opportunities in 2021

The funding opportunities in the first work programme of the European Innovation Council include:  

All projects of the European Innovation Council 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. 

European Innovation Council prizes

Several prizes are integrated in the European Innovation Council to celebrate those shaping the future of innovation in Europe.

The EU Prize for Women Innovators and the European Capital of Innovation Awards are now open, while the other two will open later this year.