The European Innovation Council (EIC) is supposed to receive €50 million of an extra €200 million expected to be awarded to the EU Horizon 2020 research programme.
On 5 April 2017, this increase was approved during the plenary session in Strasbourg, as part of a review of the bloc’s seven-year budget.
Alongside the EIC, a budget increase will also benefit:
However, the €200 million, recognised as part-compensation for the €2.2 billion that was taken from the programme in 2015 to finance the Commission’s Juncker Plan investment fund, is half the amount the executive asked for.
Earlier this year member states decided to direct additional funding to other areas, in particular a new youth unemployment initiative. A proposed €200 million increase for the Erasmus+ student and academic exchange scheme was also halved to €100 million. Final approval of the package by member states is expected to happen in the coming weeks.