The European Innovation Council (EIC) has been established under the EU Horizon Europe
The strategy and implementation of the EIC is steered by the EIC Board, which has independent members appointed from the world of innovation (entrepreneurs, researchers, investors, corporates and others from the innovation ecosystem).
A unique feature of the EIC is that it provides funding for individual companies (mainly startups and SMEs) through both grants and investments. The investments currently take the form of direct equity or quasi-equity investments and are managed by the EIC Fund.
The EIC also supports strategic technology and innovation challenges which will take into account the priorities of the Horizon Europe strategic plan