An official entity: European Innovation Council Equity Fund for high-impact innovation
The EIC Fund, which will provide equity from €0.5m to €15m to breakthrough innovation companies selected for EIC Accelerator blended finance support (grant and equity), has become an official entity. This is the first time the EC will make such direct equity investments in companies, with ownership stakes expected to be in general from 10% to 25% in start-up companies.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said:
The EIC Fund – the first of its kind - will help our most innovative start-ups and SMEs rapidly bring their innovative products to European and global markets, while growing their companies and talent within the EU. Currently so much economic growth and jobs potential is lost because with these companies are seen as too high-risk for the private venture capital market.
European Innovation Scoreboard 2020: EU’s innovation is increasing
The Commission released today the European Innovation Scoreboard 2020, which shows that Europe’s innovation performance continues to improve across the EU, surpassing for the second year the US. However, more needs to be done to catch up with global innovation leaders like South Korea, Australia and Japan. The results, which cover data from 2019, highlight the opportunities to better coordinate EU innovation policies, help Europe improve its global competitiveness and strengthen the key role innovation plays in overcoming the coronavirus pandemic.
Commissioner Gabriel said:
The EU is leading the way out of the coronavirus crisis by intensifying its support to research efforts and bringing together diverse players of the innovation ecosystems, from both the public and private sector, that can transform new ideas into reality and improve the life of citizens. Post-covid EU will be stronger and more united than ever before leveraging its creativity and innovation performance as this year's Scoreboard highlights.
The European Commission is committed to personal data protection. Any personal data is processed in line with the Regulation (EU) 2018/1725. Please read the privacy statement.
Stay up to date and subscribe to our newsletter | To unsubscribe or change your profile and selections please visit our web site.
