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Add to Preferred SourcesAhead of the 21-22 March European Council discussion on innovation, industry, and competitiveness, the Commission takes decisive steps to set up a European Innovation Council.
Global competition is intensifying and Europe needs to deepen its innovation and risk-taking capability to compete on a market increasingly defined by new technologies.
That is why the Juncker Commission is introducing a European Innovation Council to turn Europe’s scientific discoveries into businesses that can scale up faster. Currently, in its pilot phase, the European Innovation Council will become a full-fledged reality from 2021 under the next EU research and innovation programme Horizon Europe.
The Commission launched in 2017 the pilot phase of the European Innovation Council, introducing open competitions and face-to-face interviews to identify and fund Europe’s most innovative start-ups and SMEs. Since then, 1276 highly innovative projects have already benefitted from overall funding of over €730 million.
Over €2 billion of funding have been announced for 2019-2020 to cover the innovation chain: “pathfinder” projects to support advanced technologies from the research base; and “accelerator” funding to support startups and SMEs develop and scale up innovations to the stage where they can attract private investment.
Original source: European Commission
Published on 18 March 2019