New EIC Work Programme for 2022

New EIC Work Programme for 2022

Big News Coming out of EIC: Today, 09/02, the European Innovation Council announced that it adopted a brand new work programme that opens funding opportunities worth over €1.7 billion in 2022 and introduces multiple novelties and simplifications.

This programme is meant for Europe’s most promising innovators and entrepreneurs for a much needed post-covid recovery in the world of entrepreneurship. Specifically the EIC board noted: “This comes at a time when breakthrough innovations are more important than ever to fuel the post COVID recovery, reinforce European autonomy in emerging technologies, and scale up solutions to the challenges of digitalisation and climate transitions.”

This move underlines the importance of business angels in the European innovation landscape. Indeed our community is predicted to be a key enabler for the EIC and the EIC backed companies, especially when it comes to supporting research projects in getting to the market and scaling up businesses.

There are three categories to split the funding:

1. EIC Pathfinder (meant to support research teams to research or develop an emerging breakthrough technology) receiving €350 million
2. EIC Transition (meant to mature a novel technology and develop a business case to bring it to market) receiving €131 million and
3. EIC Accelerator (meant to provide funding and investments for start-ups and small companies) receiving an impressive €1.16 billion.

All projects of the European Innovation Council have access to Business Acceleration Services, which provides coaches, mentors and expertise, partnering opportunities with corporates, investors and others, and a range of other services and events.

According to the EIC board’s statement “Today’s announcement signals the restart of the full EIC activities. We have been greatly impressed by the quality of the 164 start-ups and SMEs selected for funding under the EIC Accelerator in 2021 and urge the Commission and EIC and SMEs Executive Agency (EISMEA) to fast track the funding – both grants and investments – to companies whose very survival (in Europe) is at stake. Innovators and companies have been on hold for long enough by the transition from the pilot to the full EIC (under Horizon Europe).” Read the full statement here.

An information day will take place on Tuesday 22 February to provide information on how the European Innovation Council works, how to apply for funding, who is eligible and what this year’s novelties are. Sessions will include information on funding opportunities for research teams, start-ups, SMEs and investors. More information is coming soon!

For more information you can see the full programme here