Brussels:The European Commission has announced the adoption of the 2027 European Innovation Council (EIC) Work Programme, which will release £1.8 billion to aid Europe's leading deep tech entrepreneurs and researchers.
According to Wam, this funding is the final package under the Horizon Europe 2021-2027 research strategy. The initiative aims to transform groundbreaking research into market-ready innovations, enhancing Europe's capacity to develop and expand strategic technologies.
In 2027, the EIC will maintain support for high-potential innovators from initial research stages to commercialization and scale-up. The programme aligns with the EU Startup and Scaleup Strategy and the Competitiveness Compass by streamlining EIC support to be more efficient and targeted.
Additionally, the programme will bolster scaling efforts through the Scaleup Europe Fund and the EIC STEP Scale Up scheme, focusing on dual-use and defense technologies. It will simplify the application process for innovators seeking funding and promote a challenge-driven, staged approach to high-risk, high-reward innovations. New provisions will also assist EIC-backed companies in securing their first customers, including through public procurement.