New vision for the next European Innovation Council

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:

  • Future and Emerging Technologies (FET) projects to support creating novel breakthrough technologies from the research base; and
  • SME Instrument funding to support start-ups and SMEs develop and scale up innovations to the stage where they can attract private investment. 

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

  • Accept high-impact ideas in science-driven deep-tech, which are usually considered too high risk for common investments.
  • Bring together science and entrepreneurship communities that have been disconnected, or poorly connected.
  • Support deep-tech interdisciplinary research while being entrepreneur centric.

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.

Date: 11/06/2020 | Tag: | News: 1093 of 1573
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