The European Innovation Council (EIC) is a European Union initiative that supports innovative projects and companies in their efforts to bring new products and services to the market. It was established in 2017 as a pilot program within the Horizon 2020 research and innovation funding program, and has since become a standalone program with its own budget. The EIC aims to bridge the gap between research and the market, by providing funding and support to innovative projects and companies at all stages of development. It offers a range of funding opportunities, including grants, equity financing, and risk finance instruments, to help companies bring their innovative ideas to market. One of the key features of the EIC is its focus on high-risk, high-impact projects. It is designed to support projects that may be too risky for traditional investors, but have the potential to bring significant benefits and disruptive innovations to society. In addition to financial support, the EIC also provides access to a range of services and resources to help companies succeed. These include mentoring and coaching from experienced entrepreneurs, access to networks and business partners, and help with finding and securing funding from other sources. To be eligible for EIC funding, projects and companies must meet certain criteria, including demonstrating a high level of innovation and a clear plan for commercialization. The EIC is particularly interested in supporting projects in the fields of clean energy, digital technologies, and health, but also considers proposals from other sectors. The EIC has already supported a number of successful projects and companies, including the development of new energy storage technologies, the creation of innovative digital platforms, and the development of new treatments for diseases. Overall, the European Innovation Council is an important source of support for innovative projects and companies in Europe. It helps bridge the gap between research and the market, and provides the financial and support resources needed to bring new ideas to life.
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