€10 billion in grants-funding available for SMEs and small midcaps via the European Innovation Council (EIC), the European Commission’s flagship innovation funding programme for the period 2021-2027.

The EIC is a key programme of Horizon Europe, established by the European Commission, that aims to identify, develop and scale-up breakthrough technologies and disruptive innovations.

Funding is provided through three main instruments addressing all stages of the innovation lifecycle:

Pathfinder for advanced research on breakthrough / game-changing technologies;
Transition for transforming research results into innovation opportunities; and
Accelerator for companies to develop and scale up breakthrough innovations.

Each instrument comprises open calls for proposals in any field of science, technology or application and challenge-driven calls targeting specific strategic priorities.

All EIC funded projects and companies - as well as selected applicants - have access to EIC Business Acceleration Services. Moreover, the EIC also provides additional activities such as prizes.

Funding opportunities

EIC Accelerator

The EIC Accelerator supports SMEs, in particular startups and spinout companies, to develop and scaleup game-changing innovations.

As a novelty of this funding cycle, also small midcaps (up to 500 employees) are supported, but can only apply for rapid scale up purposes and only for the investment component (i.e. they are not eligible to receive a grant component).

The blended funding dimension of the EIC Accelerator is another novelty of the programme, after being piloted during 2018-2020 as part of EIC/ Horizon 2020. The blended finance is composed of a private investment component via the EIC Fund and a grant component. Applicants can choose to request the private investment only, as in the case of small midcaps, and are not required to request a grant. The terms for the private investment component are quite complex (involving a mix between the EIC Fund and a private investor, typically VC) but very attractive for the funding recipient (scale-up capital), as well as for the private investor.

The EIC Accelerator can provide grant funding (non-dilutive) of up to €2.5 million for innovation development costs, and investments (direct equity) from €500 thousand up to €15 million via the dedicated EIC Fund.

Grants will be offered with a funding intensity of typically 70% of eligible costs incurred for innovation activities. These include: demonstration of the technology in the relevant environment, prototyping and system level demonstration, R&D and testing required to meet regulatory and standardisation requirements, intellectual property management, and marketing approval.

Examples of successful projects are available on the dedicated EIC data hub.

The EIC Accelerator has a total budget allocation of €7.2 billion, split between the “Open Call” (€3.7 billion) and “Challenges” (€3.5 billion). The expected yearly total budget allocation is approximately €1 billion per year.

Open call

The EIC Accelerator is open to innovations in any field of technology or application with the exception of innovations that harm the environment or social welfare or that are designed primarily for military applications.

Challenges

Innovations in strategic digital and health technologies.
Green Deal innovations for the economic recovery.

Application process & calendar

New applicants can submit a short application at any time (no cut-offs) using the EIC AI platform online.

After an assessment by independent experts, successful applicants will be invited to prepare a full application and pitch in front of a jury of investors and business experts at set cut-off dates.

The cut-off dates for full applications in 2022 are 23 March, 15 June, and 5 October.

EIC Fund

The EIC combines the accelerator instrument with a dedicated equity fund, the European Innovation Council Fund, to scale up innovative start-ups, SMEs and small midcaps. Around €3 billion of the EIC’s budget will go towards the EIC Fund, with an expected yearly allocation of approximately €300 million.

The equity investments, ranging from €500 thousand to €15 million per beneficiary, complement the grant financing provided through the EIC Accelerator. This is the first time the EC is making direct equity or quasi-equity investments, namely equity investment blended with a grant, in start-up companies, with ownership stakes expected to range from 10% to 25%.

EIC Pathfinder

The EIC Pathfinder supports the exploration of bold ideas for radically new technologies. It welcomes the high-risk / high gain and interdisciplinary cutting-edge science collaborations that underpin technological breakthroughs.

Grants of up to €3-4 million support early-stage development of future technologies (Technology Readiness Levels 1-3), up to proof of concept. Pathfinder projects can also receive additional funding for testing the innovation potential of their research outputs.

Examples of successful projects are available on the dedicated EIC data hub.

Open call

The EIC Pathfinder Open aims to support the realization of ambitious visions for radically new technologies with potential to create new markets and/or to address global challenges. The EIC Pathfinder Open supports specifically early-stage development of such future technologies.

Challenges

Added-value systems based on new concepts of awareness;
Medical devices to measure and stimulate brain activity;
Technologies in cell & gene therapy;
Innovative green hydrogen production technologies;
New technologies and platforms for the production of engineered living materials.

EIC Transition

The EIC Transition funds innovation activities that go beyond the experimental proof of principle in laboratory to support: the maturation and validation of novel technologies in the lab and in relevant application environments; and the development of a business case and model towards commercialisation.

Grants of up to €2.5 million and more are available to validate and demonstrate technology in application-relevant environment and develop market readiness.

Open call

The EIC Transition aims at maturing both technology and business idea to increase market readiness. The EIC Transition specifically can support different pathways beyond fundamental research, from technology development and product design to business modelling and commercialisation strategy

Challenges

Technologies and devices addressing health needs in the direct clinical treatment and care of patients;
Energy harvesting and/or storage technologies.

Eligibility

To be eligible for funding, applicants must be established in:

EU Member States (including overseas countries and territories (OCTs));
Associated Countries (as defined in Annex 3 of the EIC Work Programme);
low and middle income countries.

Alternatively, one or more natural persons or legal entities can apply provided they are either:

intending to invest in an SME or small mid-cap in a Member State or an Associated Country and who may submit a proposal on behalf of that SME or small mid-cap;
from a non-associated third country intending to establish an SME (including start-ups) or to relocate an existing SME to a Member State or an Associated Country.

How can Winnovart help you

– If you would like to discuss a new project idea with us, don’t hesitate to fill in our funding readiness questionnaire. and we will come back with our independent feedback.

– Winnovart’s independent service options are designed to help you accelerate your access to this funding and navigate with confidence through the entire process of applying for, obtaining the grant and implementing your project successfully.

For more information on the EIC programme, please read here.

Additionally, for ongoing updates about the EIC, please get in touch with us.

At Winnovart, it is part of our mission to bridge the gap between stakeholders of the grants-funding market-space across Europe. We believe in the potential of grants to create ecosystems that drive innovation, growth and reduce disparities between the regions of Europe. Our aim is to support innovative SMEs, private investors and funding agencies to become part of this ecosystem and make the most of it.

Our presence in Western, Eastern and Northern Europe enables us to create international business cases for our clients, in the context of attractive funding programmes as well as beyond it, by opening up international development opportunities.

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