Update on the European Innovation Council’s 2022 work programme
The European Commission adopted the 2022 work programme of the European Innovation Council (EIC) providing funding opportunities of over €1.7 billion in 2022 for breakthrough innovators to scale up and create new markets. This includes, for example: quantum computing, new generation batteries and gene therapy.
Further information about the EIC, that was launched in March 2021 with a budget of over €10 billion between 2021 and 2027, is provided in this April 2021 edition of the EUFUNDINGMAG.
The EIC’s funding and support in 2022 covers the following areas:
EIC Pathfinder (€350 million) for multi-disciplinary research teams to carry out visionary research with the potential to lead to technology breakthroughs.
EIC Transition (€131 million) to support projects that are transforming research results into innovation opportunities. Results generated by EIC Pathfinder projects and European Research Council Proof of Concept projects will be assisted to mature the technologies and build a business case for specific applications.
EIC Accelerator (for 1.16 billion) providing funds for start-ups and SMEs to develop and scale up high impact innovations with the potential to create new markets or disrupt existing ones.
All projects of the EIC have access to Business Acceleration Services that provides access to coaching, mentoring, partnering which coaches, mentors and investors as well as a range of other services and events.
“The European Innovation Council has already supported 4 unicorns and more than 90 centaurs. The work programme for this year is backed by the biggest ever annual funding for visionary entrepreneurs and researchers, as well as new measures to support female innovators and scale-ups. Europe is committed to supporting innovation and new technologies and we are on track to meet our ambition to make the EIC Europe’s unicorn factory.”
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth
The following novelties have been introduced in the 2022 work programme:
- A new EIC Scale-Up 100 initiative to support 100 promising deep tech EU companies that have the potential to become ‘unicorns’ (with valuation of over €1 billion).
- EIC Equity investments above €15 million via the EIC Accelerator to provide funding for companies that are working on technologies of strategic European interest.
- Stronger support to women innovators by means of an innovation gender and diversity index to identify gaps and encourage diversity within companies. In addition, the 2022 edition of the EU Prize for Women Innovators will include two additional prizes for innovators under 35.
- The EIC Challenges provide funding opportunities in key EU policy areas with over €500 million for start-ups to develop technologies that contribute to the EU’s target of reducing net greenhouse gas emissions as well as to building strategic autonomy in quantum, space and new medical technologies.
- In 2022, more frequent application deadlines will be opened for the EIC Transition and Accelerator. Second-time applicants to the EIC Accelerator will have the opportunity to elaborate and defend the improvements made to their resubmission.
For further details on the EIC, please feel free to contact the EUFUNDINGHUB.
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