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News article18 March 2021

Commission launches European Innovation Council to help turn scientific ideas into breakthrough innovations

The European Commission launched today, at an online event, the European Innovation Council (EIC) with a budget of over €10 billion for 2021-2027 to develop and expand breakthrough innovations. Building on a successful pilot programme under Horizon 2020, the new EIC is not only a novelty of Horizon Europe, but it is also unique in the world: it combines 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.

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

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Publication date
18 March 2021