Eurada News nº386 - March 2019

European Innovation Council Pilot

Today’s successful, high-growth innovative enterprises often rely on new business models and technologies emerging at the intersection between sectors and disciplines. The European Innovation Council (EIC) pilot supports innovators developing breakthrough innovations with the potential to create new markets and boost jobs, growth and prosperity in Europe.

Today’s successful, high-growth innovative enterprises often rely on new business models and technologies emerging at the intersection between sectors and disciplines. Despite early technology leads, the EU has supported the creation of few companies that shape and capture these new markets. While Europe compares relatively well internationally in terms of numbers of start-ups, too few of these succeed in scaling up and generating the new, high-skilled jobs on which Europe’s future depends and which would strengthen Europe’s position in the platform economy.

The European Innovation Council (EIC) pilot supports innovators developing breakthrough innovations with the potential to create new markets and boost jobs, growth and prosperity in Europe.  The EU needs to help improve the conditions enabling the emergence and rapid scale-up of highly innovative enterprises. With a budget over € 2.7 billion the objective is to strengthen breakthrough innovations and boost the number of high-growth companies.

The interim evaluation of Horizon 2020 found that while the programme demonstrates potential in terms of fostering breakthrough, market-creating innovation, support for doing so needs to be substantially strengthened. This part of the Horizon 2020 work programme aims to do just that. It contains a package of actions, which were previously fragmented over different parts of the work programme. At the same time, reforms have been introduced to boost impact.

The EIC Pilot brings together several innovation support schemes: the SME Instrument, the Fast Track to Innovation (FTI), FET Open, and Horizon Prizes. Each addresses the needs of a community in the innovation ecosystem.They provide support with no thematic restrictions and they are particularly aimed at people and companies who have ideas that are radically different from existing products or services on the market or under development (not incremental improvements), are highly risky, and require significant investments to get to market.

From EURADA we are pleased to provide you a document of 8 pages that summarizes a document of 90pages that gathers information of the main tools of the EIC, their procedures, budget and all the technical aspects we considered important for having at a glance a general idea of the programme. We hope this document is useful for you.

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