BIOVEGEN attended the launch event of the European Innovation Council (EIC) held by the European Commission on March 18. The event featured a second session, held on the 19th, aimed at potential applicants, showcasing detailed presentations on the main calls of the EIC.
The EIC is a key innovation initiative of Horizon Europe, representing Europe’s most ambitious innovation initiative, with a budget of 10 billion euros for the period 2021-2027. Its main objectives are to finance high-risk SMEs, change the investment landscape in “deep tech“, and build ecosystems for the transition to a green and digital economy. Thus, through the EIC, the European Union aims to directly invest in startups and SMEs, which will attract additional venture capital from the private sector (at least 50 billion euros is expected). It is anticipated that over 1.5 billion euros will be invested in 2021 calls to support startups, SMEs, health, and digital technologies. Of the total 10 billion euros, at least 300 million will be allocated to eco-friendly technologies for startups and SMEs, and 150 million to strategic digital technologies. Additionally, the application process will be more agile and shorter, with fewer demands and feedback provided within weeks.