Impact of the Strategic Technologies for Europe Platform (STEP) on the EIC Accelerator: EAIC Opinion Piece
The EIC Accelerator is the most impactful and coveted funding instrument that the EC has at its disposal to fund high-risk deep-tech innovation. The funding decisions made by the EIC in the coming years will durably shape the future of European deeptech, with €7 billion currently allocated to the EIC Accelerator to fuel the next European champions in strategic domains such as quantum, bioinformatics, high-performance computing, cybersecurity, cleantech, healthcare, etc.
As part of the revamp of the EU Multiannual Financial Framework (MFF) presented in June by the European Commission, the EIC is now in line for an extra €2.6 billion for the Accelerator programme to provide, via the EIC Fund, additional equity funding of €15-50 million to support scale-up of companies in three strategic areas: deeptech, cleantech and biotech.
The EAIC commends the European Commission for this proposed reallocation of budget as access to sufficient capital post-initial funding will allow the selected scale-ups to continue their R&D efforts, scale their operations, and maintain a steady growth trajectory without resorting to non-European investors.
However, early-stage startups are not targeted by this new EIC Fund compartment: they will have to rely on the normal EIC Accelerator budget, which will see a significant decrease in 2024, from €1.09 billion in 2023, to €563 million in 2024 available for new EIC Accelerator laureates.
On Tuesday 10 May, EAIC submitted its contribution to the European Innovation Agenda call for evidence launched earlier in April by the European Commission.
The EC was seekign feed-back on Five essential action points it identified to improve Europe’s innovation performance:
The EAIC welcomes this initiative, we stress in particular the following:
This position paper summarises the opinion of the EAIC (European Association of Innovation Consultants). EAIC comprises 50 members present in 26 European Countries, supporting around 40% of all the companies awarded EIC Accelerator funding in 2021.
Feedback from the June 2021 cut-off
Based on a survey of 23 of its members, the European Association of Innovation Consultants (EAIC) has released a position paper, which summarises the return of experience from the first batch of applicants about the design and usage of the submission tool.