The EIC is part of Horizon Europe and is unique in combining research on emerging technologies with an accelerator programme and a dedicated equity fund, the European Innovation Council Fund. It aims to identify and support breakthrough technologies and game changing innovations, transforming research ideas into real-life business.
UK - based entities are eligible for all the grant programmes of the EIC. The European Innovation Council has a budget over €10 billion (in current prices) for 2021-2027. Around €3 billion of the EIC's budget will go towards the European Innovation Council Fund. The UK will not be associated to the EIC Fund.
The Commission also announced the work programme and funding opportunities for 2021. These opportunities focus on high impact innovations with the potential to create new markets or disrupt existing ones; on multi-disciplinary research, including on AI, cell and gene therapy and green hydrogen and on mature technologies that can be turned into specific applications (more information).
This announcement follows the launch of the European Research Council work programme for 2021 earlier in March. UK-based researchers can already apply for these grants as well (more information). During its membership of the EU, the UK was top league in the ERC table, receiving a total of over €4 billion since the start of this funding in 2007.
The EIC will also give a number of prizes to celebrate those shaping the future of innovation in Europe. These include the EU Prize for Women Innovators, which recognises the most talented women entrepreneurs from across the EU, and the European Capital of Innovation Awards, which pays tribute to the role cities play to shape local innovation ecosystem and promote innovation.