European Innovation Council

The European Innovation Council (EIC) was introduced by the European Commission to support the commercialization of high-risk, high-impact technologies in the European Union. The fully-fledged EIC was launched March 2021 under Horizon Europe and is part of the European Innovation Council and SMEs Executive Agency (EISMEA). Its goal is to aid researchers, start-ups and SMEs (Small and Medium Enterprises) bring their innovations to market by providing funding, networking & partnership opportunities, and business acceleration services. In its latest form, the concept has been put forth by the EU Research Commissioner Carlos Moedas in mid-2015. It has a budget of €10.1 billion to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs. 
Pilot Phase (2018-2021).
The EIC pilot phase was launched in 2018, incorporating existing instruments under the Horizon 2020 programme, in particular the SME instrument and Future & Emerging Technology (FET) programme. These funding schemes were brought together in single work programme to provide direct support to innovators throughout Europe.
The EIC pilot phase, together with the existing instruments, supported:
Funding Opportunities.
EIC Pathfinder.
The EIC Pathfinder programme supports the exploration of bold ideas for radically new technologies. Applicants participating in EIC Pathfinder projects are typically visionary scientists, entrepreneurial researchers and, research organisations, start-ups, high-tech SMEs and industrial stakeholders interested in technological research and innovation. Grants of up to €3-4 million support early stage development of future technologies up to proof of concept. Pathfinder projects can also receive additional funding for testing the innovation potential of their research outputs.
EIC Transition.
The EIC Transition funds innovation activities that go beyond the experimental proof of principle in laboratory to supports both:
Grants of up to €2.5 million and more are available to validate and demonstrate technology in application-relevant environment and develop market readiness.
EIC Accelerator.
The EIC Accelerator supports individual Small and Medium Enterprises (SMEs), in particular start-ups and spinout companies to develop and scale up game-changing innovations. In some cases small mid-caps (up to 500 employees) are supported.
The EIC Accelerator provides substantial financial support with:
In addition, EIC selected companies receive coaching, mentoring, access to investors and corporates, and many other opportunities as part of the EIC community.
The EIC Fund.
The EIC Fund is new feature of the EIC, introduced in 2021. The EIC Fund provides equity from €0.5 million to €15 million to breakthrough innovation companies selected for EIC Accelerator blended finance support (grant and equity). The EIC Fund is a unique entity owned by the European Commission and established to make direct equity investments in companies.
The EIC Fund: