The newly-adopted 2024 work program of the European Innovation Council (EIC) is opening over EUR1.2 bn in financing chances, generally targeting deep tech start-ups and SMEs.
Under the brand-new plan, the EIC Fund will get a capital injection of EUR585mn to purchase EIC picked business, leveraging over EUR2 billion in brand-new financial investments.
Most of the financing addresses all fields of innovation, however EUR420mn is devoted to start-ups and SMEs establishing tech for tactical markets, consisting of Generative AI, area, vital basic materials, semiconductors, and quantum. This remains in line the bloc’s efforts such as the Chips Act, the Net Zero Industry Act, and the AI Act.
Particularly, EIC’s work program for next year is divided into 3 financing domains:
- EIC Pathfinder: EUR256mn for research study with the possible to cause technological developments– with grants approximately EUR4mn.
- EIC Transition: EUR94mn to turn research study from laboratory to fab, following the arise from Pathfinder, the European Research Council Proof of Concept tasks, and Horizon Europe. Here, grants increase to EUR2.5 mn.
- EIC Accelerator: EUR675mn for start-ups and SMEs to establish and scale developments that can produce brand-new markets or interfere with existing ones– with grands no greater than EUR2.5 mn.