European Innovation Council

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. Currently in its pilot phase, the European Innovation Council will be fully implemented from 2021 under Horizon Europe.[1] In its latest form, the concept has been put forth by the EU Research Commissioner Carlos Moedas in mid-2015.[2] Similar proposals were presented over the years, including by Hans Wigzell in 2002, and by the European Association of Research and Technology Organisation (EARTO) in 2010.[3] The first round of direct equity investment amounted to €178 million awarded to 42 businesses as announced by the European Commission.[4]

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