The European Innovation Council (EIC) Board has released a set of recommendations aimed at elevating Europe’s role as a global leader in deep tech innovation
As the European Union prepares its next Multiannual Financial Framework, the EIC Board’s recommendations come at a crucial time, encouraging a more ambitious mandate and increased funding.
Transformative innovation
One of the most essential parts of the Board’s recommendations is a new vision for EIC. This new vision will enable EIC not only to be a funding mechanism but also a force capable of steering Europe’s innovation future.
Among the key proposals is the adoption of a new Challenge model inspired by the ARPA (Advanced Research Projects Agency) approach, known for its high-risk, high-reward research strategy. This model is designed to tackle Europe’s most important technological and societal challenges with targeted interventions.
Scaling up the EIC fund
The Board is urging a substantial Scaleup of the EIC Fund, which is important in supporting early-stage and high-potential startups. The proposal includes creating a dedicated Scaleup Fund, aligned with the EU Startup and Scaleup Strategy.
This would enhance the EIC’s capacity to support companies as they transition beyond the startup phase, addressing the funding gap that often forces promising European firms to look for capital abroad or be acquired by non-European entities.
With over 700 startups and SMEs already supported and a proven ability to attract three euros in additional investment for every euro disbursed, the EIC Fund has demonstrated its catalytic effect. The Board believes that now is the time to build on that success with greater financial firepower.
Improving operational efficiency and collaboration
Another pillar of the recommendations focuses on optimising the EIC’s internal operations. The Board emphasises the importance of quicker and easier processes to minimise administrative burdens and enhance the experience for applicants and beneficiaries. By increasing agility and efficiency, the EIC can respond quickly to up-and-coming opportunities and market needs.
The EIC is also encouraged to promote closer collaboration with national and regional innovation programmes. Strengthening these synergies would enable the EIC to use local knowledge and infrastructure, ensuring that innovations are well-supported throughout every stage of development.
A framework for experimentation
The Board supports the continuation of flexible funding instruments and pilot initiatives, which enable rapid testing of new approaches and adaptation to evolving technology landscapes.
This focus on experimentation is particularly significant in areas such as artificial intelligence, biotechnology, clean tech, and quantum technologies, sectors where Europe is making considerable progress but still faces intense competition from the US and China.
The EIC Board’s recommendations come ahead of the European Commission’s proposal for the next long-term EU budget. With innovation increasingly seen as a driver of economic resilience and strategic autonomy, the Board argues that investing in deep tech is not just an option, but a necessity for Europe’s future competitiveness.
Composed of 20 independent innovators and led by a full-time President, the EIC Board brings diverse expertise from across the innovation ecosystem.
