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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The Resubmission Process: the EIC Accelerator Journey
The EIC Accelerator, once a straightforward avenue for startups and SMEs to secure substantial funding, has evolved into a more intricate program. With significant changes introduced by the European Innovation Council (EIC) and European Commission (EC), it's crucial for innovative business owners to grasp the resubmission mechanisms of the application process.
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Choosing the Right Program: A Guide to EIC Pathfinder, Transition, and Accelerator
The European Innovation Council (EIC) and European Commission (EC) offer various funding programs to Small- and Medium-Sized Enterprises (SME) and startups, one of which is the EIC Accelerator funding. This program provides a maximum of €2.5 million in grant and €15 million in equity financing per project, with applications typically supported by consultants, writers or freelancers. However, there are alternative funding options available under the EIC framework.
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