Innovative start-ups in focus: EU funding secures millions!

Innovative start-ups in focus: EU funding secures millions!

The European Innovation Council (EIC) is a central element of the EU Commission's Horizon Europe framework program, which aims to identify, develop and disseminate innovative technologies. A variety of funding programs provide start-ups and companies with funding that covers every step of the innovation life cycle - from research to investment in mature solutions. UBN.news reports that the amount of financial support can vary between EUR 500,000 and EUR 30 million depending on the program.

The EIC's particular aim is to promote market-creating innovations. The funding includes radically new products, services, processes and business models that create the basis for future innovations. The approach aims to bring such innovations to market more quickly, which should have positive effects on growth and employment. Interdisciplinary ideas are supported by open-topic funding instruments that include both technological and non-technological innovations. Horizon Europe highlights that the funding provided also targets social and service sector innovations.

EIC financing instruments

The EIC provides various instruments to cover different phases of the innovation process. This includes:

• EIC Pathfinder: Fördert die frühen Phasen der Forschung und Entwicklung neuer Technologien.
• EIC Transition: Unterstützt die Weiterentwicklung vielversprechender Ergebnisse aus der Pathfinder-Phase.
• EIC Accelerator: Überbrückt die Lücke zwischen später Forschungs- und Innovationsphase bis hin zum Markteintritt.
• EIC-Preise: Prämiert neuartige Lösungen, die sich mit globalen Herausforderungen auseinandersetzen.

The European innovation landscape also offers support through networks such as the EIT Food Network, which promotes innovations aimed at a sustainable food system. Grants of up to EUR 1 million are available annually for a maximum of two years. These programs actively promote the integration of innovative approaches into food systems.

Support for Ukrainian start-ups

Particularly noteworthy is the support for Ukrainian technology companies provided by the Ukrainian Startup Fund and the Western NIS Enterprise Fund (WNISEF). It is currently targeting $2.5 million in funding for early-stage startups, with relevant areas including blockchain, cybersecurity, energy and environment, industry, and artificial intelligence (AI). These startups can receive between $25,000 and $50,000, providing them with a stable foundation to develop their innovative solutions.