European Innovation Council (EIC)

The European Commission established the European Innovation Council (EIC) Fund in 2020 to make direct equity and quasi-equity investments in TRL 9 “European high-impact and deep-tech start-ups and scaleups” accepted into the EIC Accelerator. Investments are between EUR 0.5 million (USD 0.6 million) and EUR 15 million (USD 17 million), up to 25% of the voting shares, and with a relatively long time horizon of 7-15 years. Funds come from the Horizon Europe budget and the project represents a new means of using the EU R&D framework programme, alongside its traditional focus on grants. "Challenges" on specific topics are used to select recipients.

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