The European Innovation Council (EIC) Work Programme, a part of Horizon Europe, the EU’s research and innovation programme, has increased its 2025 budget by nearly €200m to €1.4bn to support the development of deep-tech research and high-potential start-ups in the region.
Launched in 2021, the EIC has a total budget of over €10bn until 2027 and has so far supported more than 630 companies and 450 research projects.
The EIC Work Programme is built around three main funding schemes. This year, it has divided into a €262m Pathfinder scheme for early-stage technological research, a €98m Transition scheme for research results that turn into innovation opportunities following Pathfinder, and a €634m Accelerator scheme for start-ups and SMEs with the potential to create ripples in the market.
Last year however, the Accelerator scheme had a marginally higher budget of €675m.
In addition to the increased overall budget, the programme – which was adopted today (29 October) – introduced access to the new €300m Strategic Technologies for Europe Platform (STEP) scale-up scheme.
The EIC STEP scheme, which is a part of the STEP regulation that was introduced earlier this year, offers financial support to start-ups and SMEs through investments of between €10m to €30m. The scheme’s goal is to scale-up innovation in “strategic” European technology – particularly in quantum technology and semiconductors, according to the European Commission, and the funding amount is expected to increase to €900m between 2025 and 2027.
“The EIC STEP Scale-up scheme will help address a market gap in deep tech scale-up funding in Europe, targeting digital technologies, clean and resource-efficient technologies including net-zero, and biotechnologies,” the EU said, adding that the scheme will help “avoid strategic dependencies”.
In addition, the new Work Programme will set aside €120m for emerging technologies including autonomous robots, climate-resilient crops and medical diagnosis, as well as €250m for earlier stage companies in specific target technologies including generative artificial intelligence and future mobility solutions.
“The EIC has emerged as a game-changer in EU support to breakthrough innovation,” said Iliana Ivanova, the EU commissioner for innovation, research, culture, education and youth.
“The targeted support, especially through the STEP scale-up call, will help bridge critical funding gaps and build a stronger, more resilient innovation ecosystem in Europe.”
Since 2021, the EU has contributed €128m to nearly 80 Irish research projects across 11 institutions.
While just last week, the European Commission announced a partnership with 71 private investors with a combined asset value of more than €90bn to launch a Trusted Investors Network to co-invest in deep-tech companies across Europe.
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Publish date : 2024-10-29 09:26:00
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