Commission launches Enhanced EIC Pilot
On 6 June 2019, the Enhanced EIC pilot under Horizon 2020 was opened. Under this scheme, innovative companies can apply for up to €17.5 million in combined grant and equity financing to scale-up quickly and effectively through the EIC ‘Accelerator’ pilot, increasing support for highly innovative concepts that could shape new markets or disrupt existing ones in Europe and worldwide.
The Accelerator pilot will support high-potential enterprises (mainly small and medium-sized - SMEs), with financing as well as coaching and mentoring, to develop and bring to market new products, services and business models that could drive economic growth, filling the market gap by supporting innovation considered ‘high-risk’ for private investors. It is complemented by the EIC Pathfinder Pilot, which supports advanced technologies/early-stage innovation. Together both instruments of the EIC cover the entire innovation chain.
The current pilot phase budget is €2 billion. Under Horizon Europe (2021-2027), the Commission proposed €10 billion for the ‘fully-fledged’ EIC.