The EIC is designed to support innovators, entrepreneurs, small companies and academics with brilliant ideas and a willingness to enter the international level. The total pilot budget is over 2 billion euros for 2019-2020.
The project combines part of the Horizon 2020 program tools, as well as provides new approaches and financial instruments, in particular:
· Pathfinder - grants for advanced research on new technologies. The total budget is about 660 million euros for 2019-2020.
· Accelerator funding - financing innovative startups. The total budget is over 1.3 billion euros for 2019-2020.
· Focus on private investment (VC, Invest EU).
The project will also provide the necessary advice and create a network of data for all projects and potential investors.
Recall that on March 21-22, 2019, the European Commission created a pilot project of the European Innovation Council (European Innovation Council - EI). The purpose of ERI's activity is to identify, develop and support breakthrough technologies and innovations from the initial stage (development of an innovative product) to its commercialization, market entry through introduction into batch production. One of the priorities of ERI is to improve the conditions in which innovations can be implemented at all stages of development.
ERI works on a groundbreaking basis and is a unique center where the inventor can meet with the innovator, and by uniting efforts (ideas) to communicate and find an investor.
Details of the pilot project can be found on the website of the European Innovation Council.
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