Supporting breakthrough innovation in Europe through funding and resources.
The European Innovation Council (EIC) is a key initiative of the European Commission that supports breakthrough innovation with scale-up potential at the global level. The EIC focuses on strategic technologies and innovation challenges, particularly in areas such as the European Green Deal, REPowerEU, the Chips Act, future AI Act, Net Zero Industry, and other EU policies. The EIC has a budget of over €10 billion to support innovations throughout their lifecycle, from early-stage research to commercialization. The available financial resources are divided into three main schemes: - **EIC Pathfinder**: Supports advanced research with grants up to €4 million. - **EIC Transition**: Funds innovation activities with grants up to €2.5 million. - **EIC Accelerator**: Provides a combination of grants up to €2.5 million and investments up to €15 million for market deployment and scale-up. To receive funding, projects must demonstrate high-risk, high-impact potential, and align with EU policy priorities. Recent projects and organisations financed by the EIC include those in generative artificial intelligence, space, critical raw materials, semiconductors, and quantum technologies. The EIC also supports strategic partnerships and collaborations across the EU to foster innovation and entrepreneurship.