On 7 May 2020, the Advisory Board of the pilot European Innovation Council (EIC), established by the European Commission, has published its new vision for the period 2021-2027 to support world-class science and innovations.
This new vision highlights three clear conclusions as to what the EIC should achieve within the next Horizon Europe Programme for the period 2021-2027.
1. European solutions to global challenges
The EIC to become the hallmark of excellence for impact-oriented innovators by integrating two of its highly successful existing programmes:
2. A €10 billion budget to crowd in €30-50 billion impact investments
Boost the opportunities for visionary ideas, disruptive technologies and innovation in Europe with a minimum budget of €10 billion over the period 2021-2027, while attracting between €30 and 50 billion from other investors.
3. The investor of choice for those with visionary ideas
Following this vision paper, the Advisory Board will prepare a report to set out the EIC’s views on how it can be put quickly into reality, and how to measure success.