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The European problems with innovation concern 3 main areas: performance, funding and ecosystem. Strong research performance is lost in translation to business fields, so we are missing disruptive innovations that create new markets. Considerable funding for innovation is available, but two gaps are visible: transition from the lab to enterprise and scaling up of high-risk innovative startups. We can also see many national and local ecosystems, but they are fragmented and need to be more inclusive, that is to involve more regions but also more female talent, as emphasized by the EIC representatives. Trying to envision the post-COVID (hopefully) economy, while trying to steer clear of a massive pandemic-related crisis before it really hits us, Europe decided to respond with the most ambitious innovation initiative ever. EUR 10 billion was allocated to the new EIC’s budget for its programs dedicated to identification, development and scaling up of the breakthrough technologies and disruptive innovations. If spent prudently, this sum gives hope for the European highway towards innovation and away from the potential crisis.

EIC’s mission is to identify, develop and deploy high risk innovations of all kinds focusing on the breakthroughs, market-creating and deep-tech. These goals shall be achieved through four main instruments: EIC Board steering the leading innovators into the right business path, business acceleration services, pro-active management and follow ups on funding for results from Horizon 2020. EIC Board will constitute an expert base of the program. Pro-active management will guarantee a solid daily support and flexibility for efficient control. The follow ups on previous results will constitute an additional asset. However, the lion’s share of funding will be dedicated to business acceleration.

EIC’s business acceleration services consist of three main programs supporting consecutive steps to innovation: Pathfinder, Transition and Accelerator. Pathfinder grants are up to EUR 3-4 million and they are dedicated mostly to the early stage research on breakthrough technologies. Transition grants address the stage of technology maturation, that is the development phase from the proof of concept to validation. They are about EUR 2.5 million per project. Accelerator funds provide the most generous sums – up to EUR 2.5 million in grants and up to EUR 15 million in the equity investment. The Accelerator aims to develop and scale up deep-tech innovations generated by startups and the SMEs. These funds can be readily accessible to any entrepreneur. However, if you think about applying for these grants you need to identify a correct program, understand the detailed rules and regulations of the application process, and most importantly, know the expectations on the EIC’s side.

Sigeon IP provides this kind of grantsmanship services. Our technology transfer and commercialization experts with broad international experience are able to help any potential applicant to identify the best fitting EIC program. Moreover, we can help you to find international partners for your application, which may be crucial given relatively short deadlines for the Pathfinder and Transition applications, that is May 19 and June 9 respectively. There is slightly more time to apply for the Accelerator program whose deadline is planned for September 22. However, this instrument demands more complex preparation. Finally, the EIC programs are designed to be flexible at this point because they represent a novel approach that has to be tested by the EIC as well. Therefore, you may increase your chances by responding to the first, the most flexible calls for grants. We will be extremely glad to help you set off on the European highway to innovation!