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European Innovation Council: €2 billion to accelerate its implementation

In view of the European Council’s debate on innovation, industry and competitiveness, scheduled on 21st and 22nd March, the European Commission is taking decisive steps to set up a European Innovation Council.

The Juncker Commission is in the process of setting up a European Innovation Council (EIC) to transfer European scientific discoveries to companies capable of rapid development. The European Innovation Council, currently in a pilot phase, will become a reality from 2021 onwards as part of the next EU Research and Innovation Programme “Horizon Europe”.

In 2017, the Commission launched a pilot phase for the creation of the European Innovation Council, organising competitions and individual interviews to identify and finance Europe’s most innovative start-ups and SMEs. Since then, 1276 highly innovative projects have already received total funding of €730 million.


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