Accessing 10Bn€ of EU capital for breakthrough innovation • EIC slides
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The document discusses the European Innovation Council (EIC), its goals and main instruments. The EIC aims to overcome Europe's innovation paradox by translating scientific advances into marketable innovations. Its main instruments include the Pathfinder program for early-stage research, Transition to bridge the gap from research to innovation, and Accelerator to help startups and SMEs scale up innovations. The EIC represents Europe's most ambitious innovation initiative with a budget of €10 billion to identify, develop and scale breakthrough technologies across all fields.
Accessing 10Bn€ of EU capital for breakthrough innovation • EIC slides
- 1. 1 The European Innovation Council Francesco Matteucci Antonio Marco Pantaleo EIC Programme Managers
- 2. 2 The European Innovation Council – why?
- 3. 3 3 What’s holding back European innovation? Innovation performance • Strong research performance not translated into innovation • Lack of breakthrough/ disruptive innovations that create new markets Innovation funding Financing gaps (2 “valleys of death”) in • Transition from lab to enterprise • Scaling up for high-risk innovative start-ups Innovation ecosystem • Many national & local ecosystems, but fragmented at European level • Need to include all regions and all talent (especially female) We need to overcome European Paradox – perceived failure of EU countries to translate scientific advances into marketable innovations.
- 4. 4 Experience from the EIC pilot phase (2018-2020)
- 5. 5 The new European Innovation Council
- 6. 6 6 Europe’s most ambitious innovation initiative • €10 billion programme to identify, develop and scale up breakthrough technologies and disruptive innovations in Europe • Unique in the world to combine research on emerging technologies with Accelerator for startups, SMEs and scaleups • EIC Fund largest VC deep-tech investor in Europe (over €3 billion) • Innovator-centric steered by Board of leading innovators • Pro-active approach with flexible funding • Enhances the European innovation ecosystem
- 7. 7 7 Part of the Innovative Europe pillar of Horizon Europe
- 8. 8 8 • Open to all innovators, in any field, at any time • Complemented by targeted funding on strategic challenges • Highly competitive for Europe’s high potential innovators One stop shop for breakthrough, deep-tech, market-creating innovators • Pathfinder for advanced research on emerging technologies • Transition from lab to commercial setting • Accelerator & EIC Fund to scale up innovations by start-ups & SMEs Agile funding from idea to investment • Access to Business Acceleration Services (coaches, mentors, corporates, investors & knowledge partners) • EIC Programme Managers to develop visions for breakthroughs, manage portfolios, and connect to ecosystems • Crowding in other investors (VC, corporates, etc.) Building ecosystems and comunities What is the EIC?
- 9. 9 9 EIC Advisory Board vision statement (June 2020) 1. EIC to pioneer a European approach to global innovation challenges: • Unique in combining advanced technological research (DARPA like) with innovation accelerator • Hallmark of excellence for innovators (like ERC for researchers) • Overcome system biases, e.g. in terms of high risk, gender, regions 2. EIC to crowd in private investors: • Filling market gaps for financing high risk/ high impact ideas • 3-5 euro for every euro allocated by EIC • Generating impacts from other EU and national programmes 3. EIC as funder & investor of choice for visionary ideas • Targeting deep-tech, interdisciplinarity, high risk to achieve high impact • Simple, fast applications focusing on the innovator • High class mentoring and advice, as well as funding
- 10. 10 10 EIC main instruments and characteristics Pathfinder • Early stage research on breakthrough technologies • Grants up to €3/4 million • Successor of FET (Open & Proactive) Transition • Technology maturation from proof of concept to validation • Business & market readiness • Grants up to €2.5 million Accelerator • Development & scale up of deep-tech/ disruptive innovations by startups/ SMEs • Blended finance (grants up to €2.5 million; equity investment up to €15 million) • Successor of SME instrument
- 11. 11 11 EIC main instruments Pathfinder For advanced research on breakthrough / game-changing technologies Transition For transforming research results into innovation opportunities Accelerator For individual companies to develop and scale up breakthrough innovations with high risk and high impact Two funding schemes for the main instruments Open No topic prescription Challenges Selected challenges
- 13. 13 13 EIC Pathfinder For advanced research to underpin breakthrough / game-changing technologies • Mainly open (“bottom up”), but also Pathfinder challenges (for emerging health, energy and digital technologies) • Mainly collaborative (3 or more partners) • Proactive management of portfolios of projects by EIC Programme Managers • Additional 50k follow up grants to test feasibility and interact across portfolios
- 15. 15 15 What is it? EIC Pathfinder Challenges aim to build on new, cutting- edge directions in science and technology to disrupt a field and a market or create new opportunities by realising innovative technological solutions grounded in high- risk/high-gain research and development.
- 16. 16 16 Pathfinder Challenge Guides • The Challenge Guide are documents that will provide more information about the specific objectives of the challenge, e.g.: - a detailed assessment of the state of the art and related (existing) projects in the field - technical information to underpin the objectives - potential societal, economic, environmental impacts if the objectives are achieved - as well as relevant references. • The Challenge Guides will be published when the call opens (15 June 2021) on the EIC website and the EU Funding & Tender Opportunities Portal.
- 17. 17 17 Topics for 2021 Pathfinder Challenges Programme Managers 1. Awareness inside Walter VAN DE VELDE (Acting) 2. Tools to measure & stimulate activity in brain tissue Enrique CLAVEROL-TINTURE 3. Emerging Technologies in Cell & Gene Therapy Iordanis (Danos) ARZIMANOGLOU 4. Novel routes to green hydrogen production Francesco MATTEUCCI Antonio Marco PANTALEO 5. Engineered living materials Barbara GERRATANA (Acting)
- 18. 18 18 Novel routes to green hydrogen production (1/2) • Goal: to develop novel processes and technologies to produce Green H2, at different scales (from small to large) and with higher flexibility, entirely based on renewable sources and on the use of toxic free, non-critical raw materials. It focuses on the potential of new biological, chemical and physical routes for Green H2 production adopting process circularity, possibly including the co-production of decarbonized chemicals and the integration with existing technologies at system and process level. • Target: to support the development of innovative technologies and platforms for Green H2 production, including both centralized and or on-demand generation (i.e. at the premises of the end users and for onsite consumption).
- 19. 19 19 Novel routes to green hydrogen production (2/2) Outcome: a proof of concept or lab-scale validated innovative Green H2 production technology by biological, chemical or physical routes without the deployment of fossil fuels, potentially including the use of salt or waste water, organic wastes or the co-production of decarbonized chemicals. Strong recommendations: • Multidisciplinary and cross sectorial approaches are particularly welcome. • Proposers are strongly encouraged to consider the recovery and recycling of by-products and wastes (life cycle thinking and circular approach). • The use of toxic-free and non-critical raw materials is requested and the projects should include a full life cycle analysis of the proposed solutions and their impact on Europe’s decarbonisation goals. Check the WP for the specific conditions for this challenge, as well as the Challenge Guide
- 21. 21 21 EIC Transition For transforming research results into innovation opportunities • New funding scheme to bridge gap between research phase (proof of concept) and innovation application • Mainly open (“bottom up”), but also Transition challenges (for medtech, energy storage) • Single applicants or small collaborations (max. 5 partners) • In first phase, only for follow up to results from EIC Pathfinder and ERC Proof of Concept
- 22. 22 22 Why Transition • European innovation paradox - A leader in producing top scientific knowledge - Lagging behind in turning scientific knowledge into innovation and new products. • Funding gap to mature technologies/ innovations at early/ concept stage (first “valley of death”) • Need to find specific application for a technology with a viable business case • Not just funding: also venture building (building team, knowledge, networks, partnerships)
- 24. 24 24 Energy harvesting and storage technologies • Innovative technologies and systems combining energy harvesting and storage, which are efficient, clean, high energy density and low-cost, integrated for stationary or mobile applications. • Innovative concepts and techniques for the combined harvesting and storage of solar energy (in the form of heat or solar fuels), geothermal or waste heat, including topics such as long-term thermal storage, cooling and cryogenic storage, building integrated solutions, thermo-electricity, advanced heat transfer, power to heat to power, and thermo-mechanical energy storage and conversion • Advanced materials and devices for electro-chemical storage (other than Li-Ion batteries), at utility scale, mobile or distributed/micro scale level, also integrated to PV/wind energy systems or for other intermittent sources.
- 26. 26 26 EIC Accelerator For startups & SMEs to develop and scale up innovations with high risk and high impact • For individual companies (startups, SMEs, in exceptional cases small mid caps (up to 500 employees) • Continuously open for applications (also from individuals intending to start a company and investors intend to support a company) • Mainly open (“bottom up”) but also Accelerator challenges in Green Deal, Strategic Digital & Health Technologies • Mainly blended finance (grant + investment), but options for “grant only” and “grant first” (with investment follow up)
- 27. 27 27 The EIC Fund Dedicated Venture capital fund – owned by European Commission Bridges equity funding gap at early stage (seed, first rounds) Crowds in other investors, provides investment opportunities for VCs and other Funds Manages equity investments in startups & SMEs selected by EIC Accelerator
- 28. 28 28
- 29. 29 29 EIC Pathfinder EIC Transition activities EIC Accelerator & equity Explore EIC BAS • Access to advice, coaches, experts • Access to corporates, investors, knowledge partners • Access to innovation ecosystem, events & peers Exploit Scale up Business Acceleration Services
- 30. 30 © European Union, 2021 Reuse of this document is allowed, provided appropriate credit is given and any changes are indicated (Creative Commons Attribution 4.0 International license). For any use or reproduction of elements that are not owned by the EU, permission may need to be sought directly from the respective right holders. All images © European Union, unless otherwise stated. Image sources: ©Tom Merton/Caia Image, #315243588; ©REDPIXEL, #220695664; ©Halfpoint, #180578699; ©bnenin #213968072; ©MyMicrostock/Stocksy, #3094437622021. Source: Stock.Adobe.com. Icons © Flaticon – all rights reserved. @EUeic #Eueic
- 31. 31 31 EIC Accelerator: a four-step evaluation process 1 • You have a disruptive / deep tech idea with a potential to scale up • Tell us your story with short application at any time 2 • You prepare a full application with your business plan • We will help you with a dedicated AI tool and free coaching 4 • You pitch your innovation to a Jury of experienced investors/ entrepreneurs • If selected, you will sign the grant and start due diligence for the equity 3 • You submit your full proposal at one of the regular cut-off dates • Your application will be assessed by expert evaluators matched to your field
- 32. 32 32 Short application: your idea You will: • Fill a questionnaire on the EIC AI-based IT platform illustrating your innovation • Submit a 10-slide presentation and a 3-minute video pitch STEP 01
- 33. 33 33 Continuously open Short application: evaluation process 4 Experts No GO from 3+ experts GO from 2+ experts STEP 02 You fill in Form + Answer Questions + 10 slide Presentation + 3 min. Video STEP 01 1 Resubmission possible STEP 01 Feedback
- 34. 34 34 Full proposal: your business plan Up to one year from your GO at Step 1 You will: • Prepare a business plan with the help of an EIC business coach (not mandatory) • Draft and finalise your full proposal supported by the EIC AI-based platform STEP 02 You prepare your business plan and proposal with a (optional) coach and AI tool STEP 03
- 35. 35 35 Full proposal: remote evaluation process 2 Cut-Offs in 2021 (June and October) 1 Resubmission possible 3 Experts 3 GOs 1+ No GO STEP 04 STEP 03 Full Proposal STEP 03 Feedback
- 36. 36 36 Jury Interview: pitch your innovation You will: • Pitch your innovation to the EIC Jury Members composed of serial entrepreneurs, innovation specialists, senior investors • Answer questions from the EIC Jury Members and other participants (EIC Programme Managers, EIC Fund members) STEP 04
- 37. 37 37 Jury interview 2 Cut-Offs in 2021 (June and October) 1 Resubmission possible Jury of up to 6 members GO No GO STEP 04 STEP 03 Feedback Business Acceleration Services Grant funding EIC Fund due diligence Seal of Excellence Business Acceleration Services