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.