The Commission has proposed a tripling of the EIC budget to more than €30 billion, and it wants that money to go further
From left to right: research Commissioner Ekaterina Zaharieva’s chief of cabinet Andreas Schwarz; MEP Christian Ehler; EIC board member Anita Krohn; and Commission research chief Marc Lemaître. Photo credits: EISMEA
The European Commission is ready to allow its innovation funding arm, the European Innovation Council (EIC), to make more risky investments, according to Marc Lemaître, head of the Commission’s research and innovation directorate.
“We know that Europe needs to take more risks, and we will be pushing in that direction,” Lemaître said during the closing panel session of the EIC’s annual conference on June 4.
Following a three-year pilot phase, the EIC launched in 2021 as part of the Horizon Europe programme for research and innovation with a mission is to provide entrepreneurial academics and innovative start-ups with grant and equity funding. It has already built a portfolio of more than 250 companies, of which just 27 have folded. This means only €50-70 million of the EIC’s multi-billion budget has gone to unsuccessful companies, a number that Lemaître called “not frightening.”
Discover the latest in research funding every Tuesday with Funding Newswire. Dive into detailed articles with our monthly or yearly subscriptions or start with a free trial
NOTE: if you're a part of one of our Network member organisations, you get free access by signing up with your institutional email. Verify your eligibility here.
Receive the Funding Newswire [full access requires a subscription] each Tuesday, our Policy Bulletin each Thursday, and the fortnightly R&D Express, tracking reforms and investments in central and eastern Europe. 
A unique international forum for public research organisations and companies to connect their external engagement with strategic interests around their R&D system.