The European Commission has adopted the European Innovation Council (EIC) 2024 work programme; the allocations per call are as follows:
- EIC Pathfinder (€256 million) for multidisciplinary research teams undertaking research with the potential to lead to technological breakthroughs (grants of up to €4 million).
- EIC Transition (€94 million) to turn research results into innovation opportunities, following up on results generated by EIC Pathfinder projects and European Research Council Proof of Concept projects, and opening up for the first time to results from Horizon Pillar 2/Societal Challenges collaborative projects (grants of up to €2.5 million).
- EIC Accelerator (€675 million) for start-ups and SMEs to develop and scale up innovations with the potential to create new markets or disrupt existing ones (grants of less than €2.5 million, equity investments from €0.5 to €15 million). €405 million is earmarked for investments to be managed by the EIC Fund, which will receive an additional €180 million to follow up on investments in companies selected under previous EIC Accelerator calls.
As usual, all successful projects will have access to business acceleration services, providing coaches, mentors, expertise and partnership opportunities.
The Commission has also completed the restructuring of the EIC Fund by transferring its shares to the European Investment Bank, while maintaining control over the Fund's investment policy. Together with the measures introduced in the EIC work programme, this will allow the EIC Fund greater flexibility in managing its investment portfolio, which already includes over 500 of Europe's most promising start-ups and high-growth, high-potential companies.
The work programme can be downloaded below. For further information on this news, click here.
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