The Innovative Europe pillar focuses on scaling up breakthrough and market-creating innovation through a European Innovation Council (EIC) as well as activities aimed at enhancing and developing the overall European innovation ecosystem (EIE), and it also includes the support to the European Institute of Innovation and Technology (EIT). Overall budget offered for each component:
- European Innovation Council (EIC) 10.1 billion
- European Innovation Ecosystems (EIE) 527 million
- European Institute of Innovation and Technology (EIT) 2.965 Billion
EIC – The European Innovation Council builds on the success of the Enhanced EIC pilot in Horizon 2020 and serves as a ‘one-stop shop’ for European innovators. It channels funding through two main instruments:
- Accelerator – this instrument bridges the financing gap between late stages of innovation activities and market take-up to effectively deploy breakthrough market-creating innovation and scale up companies.
- Pathfinder –this instrument supports future and emerging breakthrough technologies.
