European Innovation Council

The European Innovation Council (EIC) is an initiative established under the EU Horizon Europe program with a budget of €10.1 billion. Its primary aim is to support game-changing innovations throughout their lifecycle, from early-stage research to proof of concept, technology transfer, and the financing and scaling up of startups and SMEs.

The EIC has completed more than 150 investment rounds, helping to propel over 70 companies to ‘centaur’ status, with valuations exceeding €100 million. Six of these companies have reached valuations above €500 million.

The EIC is guided by the EIC Board, which consists of independent members appointed from various sectors of the innovation ecosystem, including entrepreneurs, researchers, investors, and corporates. This board is responsible for strategising and implementing the EIC's activities.

To efficiently manage funding and drive innovation, the EIC employs specialised EIC Programme Managers who have a deep understanding of their respective fields. These managers develop visions for innovation and technology breakthroughs and oversee portfolios of projects aimed at achieving these goals. They work for limited time periods of up to four years and play a crucial role in designing and implementing EIC funding in their specific areas.

One distinctive aspect of the EIC is its provision of funding for individual companies, primarily startups and SMEs, through grants and investments. The investments are currently in the form of direct equity or quasi-equity investments and are managed by the EIC Fund.

The EIC, launched in March 2021, aims to support the commercialisation of high-risk, high-impact technologies in the European Union. It offers funding, networking and partnership opportunities, and business acceleration services to researchers, startups, and SMEs, facilitating the transition of their innovations into the market.

The European Innovation Council (EIC) hosts an annual EIC summit, serving as Europe's premier event where deep-tech innovation intersects with policy at the historic Tour & Taxis venue in Brussels. Day one focuses on EIC beneficiaries, offering exclusive workshops, pitching sessions, and networking opportunities. Day two, open to the public, features inspiring plenary speeches, insightful discussions, and the celebration of EIC Prizes. Attendees can also explore an exhibition showcasing EIC-funded projects and participate in satellite events surrounding the summit.

The European Innovation Council (EIC) was established by the European Commission to support the commercialisation of high-risk, high-impact technologies within the European Union. Its origins trace back to mid-2015, when EU Research Commissioner Carlos Moedas introduced the concept as part of efforts to bolster Europe's innovation landscape.

In 2018, the EIC pilot phase was initiated under the Horizon 2020 programme. This phase integrated existing funding instruments, notably the SME Instrument and the Future & Emerging Technology (FET) programme, into a unified work programme. The goal was to provide direct support to innovators across Europe. During this pilot phase, the EIC supported over 430 projects focusing on Future and Emerging Technologies, involving more than 2,700 partners. 

These projects resulted in the publication of over 3,000 peer-reviewed scientific articles, the development of more than 600 innovations, and the filing of over 100 patents. Additionally, the pilot phase assisted over 5,700 startups and SMEs, which collectively secured follow-up investments exceeding €5 billion. On average, these companies more than doubled their number of employees within a two-year period.

The fully-fledged EIC was launched in March 2021 under the Horizon Europe program, with a budget of €10.1 billion. Its mission is to support game-changing innovations throughout their lifecycle, from early-stage research to proof of concept, technology transfer, and the financing and scaling up of startups and SMEs. 

The EIC is governed by the EIC Board, which comprises independent members from various sectors of the innovation ecosystem, including entrepreneurs, researchers, investors, and corporates. This board is responsible for strategising and implementing the EIC's activities. The EIC is implemented by the European Innovation Council and the SME Executive Agency (EISMEA), which supports the EIC Board and its President in executing the programme's activities.

In January 2021, the European Commission signed a Memorandum of Understanding with the European Institute of Innovation and Technology (EIT) to enhance cooperation. This collaboration aims to provide quality support services to innovators, SMEs, startups, higher education institutions, and research organisations, facilitating the deployment and scaling up of innovations across Europe.

The EIC offers a variety of funding schemes, including grants, equity investments, and blended finance, which combine both forms of funding. It runs several key funding programmes, including the EIC Pathfinder, EIC Transition, and EIC Accelerator. The EIC Pathfinder programme is focused on early-stage research, providing grants to projects that have the potential to develop groundbreaking technologies. 

The EIC Transition programme helps bridge the gap between proof of concept and commercialisation, providing funding for the validation and market introduction of technologies. The EIC Accelerator programme is designed to help startups and SMEs scale their innovations, offering a combination of grants and equity investments.

A unique aspect of the EIC is its provision of both direct equity and quasi-equity investments through the EIC Fund, which was launched in 2020. This fund supports high-risk, high-reward innovations, offering investments ranging from €0.5 million to €15 million to companies that are scaling up or commercialising their technologies.

In addition to funding, the EIC provides networking opportunities, mentorship, coaching, and access to a network of investors and corporates. It also plays a key role in facilitating the connection between research and market application, helping companies transition their innovations from the lab to the market.

As of April 2025, the EIC continues to play a pivotal role in Europe's innovation ecosystem. It has been instrumental in accelerating the growth of startups, with over 70 EIC-backed companies achieving 'centaur' status, each valued at over €100 million, and six surpassing €500 million in valuation. The EIC's funding programmes, including Pathfinder, Transition, and Accelerator, have collectively supported numerous projects and companies, leading to tangible outcomes and positive impacts on the innovation landscape. 

The EIC's annual summit serves as a key event, bringing together innovators, policymakers, and business leaders to showcase EIC-funded projects, discuss technological advancements, and celebrate the achievements of Europe's most promising innovators.

The EIC’s work is expected to continue evolving, with a focus on addressing societal challenges such as climate change, health, and digital transformation. As Europe strives to maintain its position as a global leader in innovation, the EIC will remain at the forefront of these efforts, supporting the next generation of breakthrough technologies and empowering entrepreneurs to bring their ideas to market.

The European Innovation Council (EIC) was created to help turn groundbreaking ideas into real-world solutions that can have a significant impact across Europe. The main goal of the EIC is to support the commercialisation of high-risk, high-reward technologies. These are the kinds of innovations that can disrupt industries, address major challenges, and improve the lives of people across the continent.

One of the key purposes of the EIC is to provide funding to startups, small businesses, and mid-sized companies at various stages of development. The EIC helps these companies from early-stage research all the way to scaling their products and taking them to market. By offering grants, equity investments, and other forms of support, the EIC ensures that promising ideas have the financial resources they need to succeed.

Another important goal of the EIC is to support collaboration. It creates opportunities for innovators, researchers, and entrepreneurs to work together and share knowledge. This is essential for developing new technologies and finding solutions to complex problems. The EIC also connects these innovators with investors, which helps them secure the funding needed to grow their businesses.

The EIC also aims to bridge the gap between research and market applications. Many great ideas remain stuck in the lab because there is not enough support to bring them to the marketplace. The EIC provides the funding and support needed to overcome this barrier, making it easier for companies to move from research to product development.

Additionally, the EIC plays a crucial role in addressing Europe's challenges. It focuses on areas such as clean energy, health, digital technology, and other sectors that are important for Europe’s future. By supporting innovations in these areas, the EIC helps make Europe more competitive on the global stage.

The European Innovation Council (EIC) has made a significant impact on innovation within the European Union, supporting the development of groundbreaking technologies. Through its various programmes and funding opportunities, the EIC has helped numerous projects and companies achieve real-world success.

The EIC Pathfinder programme has played a key role in supporting early-stage research, offering grants of up to €3-4 million to help researchers, start-ups, and SMEs explore and develop new technologies. This funding has allowed innovators to move from initial ideas to proof of concept, laying the foundation for future breakthroughs.

Building on these early-stage projects, the EIC Transition programme has helped innovators refine their technologies and prepare them for market introduction. With grants of up to €2.5 million, this support has been crucial in developing a solid business case and transitioning innovations from the lab to real-world applications.

The EIC Accelerator has had a major impact on scaling up innovations, particularly for SMEs. By providing both grants and equity investments of up to €15 million, the programme has enabled companies to develop and scale game-changing technologies. In addition, the EIC Fund, introduced in 2020, strengthens the investment component, providing equity or quasi-equity funding, helping start-ups bridge the funding gap and scale their innovations successfully.