The European Innovation Council (EIC) Board calls on EU Member States and regions to better align their innovation funding efforts with the EIC’s programmes to support the growth of deep tech start-ups and small and medium-sized enterprises (SMEs)
Despite being identified through a thorough evaluation, the appeal comes as many high-potential companies remain unfunded due to budget limitations.
Unlocking untapped innovation potential
Since its inception in 2021, the EIC has reviewed more than 10,000 companies across the continent, pinpointing those with strong potential to lead in areas such as digital technology, life sciences, and clean energy. However, numerous high-quality proposals continue to go unsupported due to limited resources. This funding gap, particularly in strategic sectors, threatens to stall momentum in Europe’s innovation landscape.
To tackle this issue, the EIC Board is urging Member States and regions to maximise their existing funding instruments, such as the European Regional Development Fund (ERDF), the Recovery and Resilience Facility (RRF), and national innovation programmes, by aligning them with EIC initiatives. By doing so, they can ensure more deep tech ventures receive the backing they need to develop and scale.
Three pathways to better funding synergies
The EIC Board’s latest statement outlines three effective models that countries and regions can adopt to integrate their innovation funding more closely with the EIC:
- Transfer of ERDF funds to EIC management
This model involves transferring ERDF funds directly to the EIC for centralised management. Lithuania has successfully implemented this approach, demonstrating its effectiveness in delivering support efficiently to promising start-ups.
- Direct funding for EIC seal of excellence recipients
Countries such as Bulgaria, Poland, Portugal, Slovakia, and Spain have adopted this model, providing national or regional funding to companies that received the EIC Seal of Excellence, a recognition for high-quality but unfunded proposals. This method supports companies already vetted by the EIC’s rigorous evaluation process.
- EIC plug-in scheme
Through this scheme, national innovation programmes can nominate top-performing companies for fast-tracked access to the EIC Accelerator. This accelerates the funding process and provides additional credibility to national nominees by linking them directly to the EIC’s resources and support.
Strengthening Europe’s innovation ecosystem
These models create a framework for Member States to enhance their innovation ecosystems while ensuring that Europe remains competitive in the rapidly evolving global deep tech arena. The EIC Board emphasises that these mechanisms are already proven and ready to scale, offering a practical roadmap for turning policy into impact.
The EIC also calls on the European Commission to continue supporting knowledge sharing between Member States and to provide guidance on combining ERDF and Horizon Europe funding. Effective coordination, they argue, is essential to create an environment where deep tech companies can thrive.
A call to action for member states
The message from the EIC Board is clear that Europe has the tools to empower its most promising innovators, but unlocking this potential requires coordinated action at all levels.
By fostering synergies between national and EU-level funding, countries can create a stronger, more resilient innovation ecosystem capable of addressing future challenges and driving economic growth.
As competition for global technological leadership intensifies, turning funding synergies into start-up success stories could be the key to securing Europe’s place at the forefront of deep tech innovation.
