New funding strategies at the European Innovation Council
By Ingemar Pongratz
The details for future Horizon 2020 and FP9 work programmes are becoming available. It seems that the European Commission will test several interesting new features.
In particular, the pilot phase of New funding strategies at the European Innovation Council will include and mix both grants and loans to European SME and Entrepreneurs.
The European Innovation Council (EIC) is a new virtual structured launched by the European Commission. The EIC aims to provide support to European entrepreneurs and European SME to find funding for projects to develop new products and services for the European and global markets.
At this stage, the EIC is still in preparation and discussion phase. Many European stakeholders have expressed both support or concern for the EIC idea. In particular, the additional support for SME has been welcomed but many academic stakeholders in particular have expressed concern of possible reduction of Horizon 2020 funding.
In the Draft Work Programme for the EIC, which is currently circulating among the EU member states, the European Commission is launching a blended financing as a new concept. This scheme wil include both traditional grant funding and loans or equity financing. The scheme will scale up new promising concepts and ideas and promote the development of new products and services. In addition, the Commission is reported to be open to the concept of crowdfunding as well.
Indeed, these are interesting possibilities. It will be very interesting to see if they are introduced into the final official version of the Work Programme.
The driving force behind this new thinking is that the European Commission wants to fuel new risky ideas with financing. There is concern that there is not sufficient funding to support the new concepts
Taken together the next Work Programme will be very interesting reading material
Ingemar Pongratz is founder of Fenix Scientific AB / Pongratz Consulting. We are a consultancy service which help organizations to plan and execute proposals for European funding. If you wish to contact us, please use the Online contact form or send an email message to:
Ingemar.Pongratz (a) pongratzconsulting.com