The European Innovation Council (EIC) was introduced by the European Commission to support the commercialization of high-risk, high-impact technologies in the European Union. The fully-fledged EIC was launched March 2021 under Horizon Europe and is part of the European Innovation Council and SMEs Executive Agency (EISMEA). Its goal is to aid researchers, start-ups and SMEs (Small and Medium Enterprises) bring their innovations to market by providing funding, networking & partnership opportunities, and business acceleration services. In its latest form, the concept has been put forth by the EU Research Commissioner Carlos Moedas in mid-2015. It has a budget of €10.1 billion to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs.
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