The European Union’s (EU) Green Deal is the EU’s main new growth strategy to transition the EU economy toward a sustainable economic model. The proposed financing of the EU Green Deal is set out in the EU Green Deal Investment Plan.
Several funding mechanisms were created to facilitate the EU Green Deal, totalling over €1 trillion. Over 50% of the budget, €528 billion, will come directly from the EU budget and the EU Emissions Trading System.
The rest will be sourced through the InvestEU programme, which combines €279 billion from public and private sectors to 2030 and €114 billion from national co-financing. It will provide an EU budget guarantee to allow the EIB Group and others to invest in higher-risk projects, enabling private investment.
During the Horizon Europe Virtual Summit, 31 May - 4 June, EAIC Members, Louis Papaemmanuel (My EU Consulting), Silver Toomla (Invent Baltics), Nadège Grabowski, Xavier Aubry (Zaz Ventures) and Lucie Guilloteau (Euronovia) shared their expertise through speeches on creating winning EIC Accelerator, Pathfinder and Transition applications, as well as tips and best practices for MSCA Postdoctoral Fellowships.
More about the event
The Horizon Europe Virtual Summit is an online event featuring world-class experts in European Research & Innovation. The free event aims to increase the success rate of the Horizon Europe proposals and is organised over 5 days, with 30+ Masterclasses, Interviews and Training Sessions from top Horizon Europe experts.
Read more about the event here.
The European Innovation Council (EIC) is a key novelty of Horizon Europe and is a European innovation initiative with a budget of approximately €10 billion for the period 2021-2027.
The EIC is the result of lessons and achievements from its pilot phase during the period 2018-2021. It combines research on emerging technologies with an accelerator programme and a dedicated equity fund, the European Innovation Council Fund, to scale up innovative start-ups and small and medium-sized businesses (SMEs). Around €3 billion of the EIC’s budget will go towards the EIC Fund.
In the infographic below, prepared by EAIC member, Lira, we detail the EIC's funding opportunities (Accelerator, Transition and Pathfinder), taking into account the different deadlines and challenge topics.
The European Commission announced yesterday that over 2,000 sustainable innovation companies from 38 different countries have applied for financial support of €7.8bn from the one-off EIC Accelerator Green Deal call. We can expect a 4% success rate for this call, a similar level as for the October 2019 cut-off.
When Commission President Ursula von der Leyen outlined Europe’s “green recovery” plan to the European Parliament last week, it was understood that the Green Deal would be placed at the centre of the EU’s recovery effort.
The Green Deal has the capacity to help the EU economy recover from the COVID-19 crisis, with proposals of this specific call focusing on the following aspects:
- climate mitigation
- the transition to a clean & circular economy
- zero pollution ambitions
- toxic free environments
Read more here.
Will COVID-19 kill the EIC Accelerator?
Or will the EIC Accelerator be the medical ventilator of distressed European SME champions?
We face the most serious healthcare crisis of the last 100 years, a crisis that is highly impacting all components of our economic infrastructure. Through the release of this new Position Paper, the EWGIC calls on the EU Parliament and European Commission to take immediate action, through implementing an EIC Accelerator Airdrop that can offer liquidity to start-ups and innovative SMEs affected by the current crisis.
This position paper focuses on SMEs and the role that the European Commission must play to protect them, via the Horizon 2020 EIC Accelerator programme.
The EWGIC has summarised the most urgent problems to solve, with regards to the EIC Accelerator Programme, highlighting the following challenges to address:
The EC, along with EASME, REA and the EIB, all have a strong influence on the future of European SMEs, which is why the EWGIC now urges them to save our European SME champions.