[ad_1]
The European Union will spend 1.4 billion euros (about $1.5 billion) next year to boost deep technology research and support expansion in strategic areas such as artificial intelligence, low-carbon technologies, agricultural technology and biotechnology, the European Commission said. He said Tuesday.
The budget of the European Innovation Council’s 2025 work program (EIC), part of the bloc’s flagship Horizon Europe research programme, has been increased by around €200 million compared to last year.
The Commission highlighted several other “improvements” in the 2024 programme, including improved access to expanded equity financing via the EIC’s Strategic Technologies for Europe Platform (STEP) scheme.
The revisions to the EIC’s 2025 work program follow the bloc’s adoption of Step regulation in February with the aim of boosting investment in critical technologies to drive digital transformation, strengthen regional autonomy and support the bloc’s transition to net zero.
The new EIC STEP Scale-Up scheme will have a budget of €300 million in 2025 (the Commission expects it to grow to €900 million by 2027). The funding will be deployed to secure greater investment in companies that bring strategic technologies to the EU and help avoid dependencies by unleashing private sector co-investment.
Under the scheme, the EU fund will provide investments of between €10 million and €30 million per company to attract private co-investment, achieving at least €50 million to €150 million in total per investment, the Commission said.
“The EIC STEP call for scaling up will help address the market gap in financing deep tech scale-up in Europe, targeting digital, clean and resource-efficient technologies including net zero and biotechnologies,” she wrote in a press release.
Supporting autonomous robots, AI generation, and agricultural technology
Elsewhere, the work program also includes an updated set of EIC Challenges, which aim to encourage innovation in priority areas. About 120 million euros are allocated to “emerging technologies” such as autonomous robots, as well as climate-resilient crops, waste-to-input materials, and medical diagnostics.
There is also €250 million earmarked for early-stage companies in specific target technologies – including generative AI, new space, agricultural technology and future mobility solutions.
Elsewhere, the Commission said the 2025 Action Program will increase access to business acceleration services for startups from countries with low levels of research and innovation performance. It will also support projects that miss out on EIC funding to find alternative sources by awarding them Seals of Excellence.
The EIC 2025 work program is based on three main financing plans, according to the Commission.
The first is a research-focused pathway called the EIC Pathfinder, which has a budget of €262 million for “multidisciplinary research teams to conduct early-stage technology research and development with the potential to lead to technological breakthroughs.” This track will award grants of up to €4 million to successful applicants.
The second track is the commercialization-focused track called EIC Transition, which has a budget of 98 million euros and aims to transform research results into “opportunities for innovation.” These grants can reach €2.5 million.
Third, there is a track for startups and SMEs – called the EIC Accelerator – which has the largest budget: €634 million. It will be deployed to support startups and SMEs to “develop, commercialize and scale innovations with the potential to create new markets or disrupt existing ones.” These grants will be less than 2.5 million euros, and investments will range from 500 thousand euros to 10 million euros.
At the top of these routes is the EIC STEP Scale-Up scheme to provide additional funding to promising companies in areas deemed crucial by the EU.
The committee added: “Direct financial support to innovators is complemented by access to a wide range of business acceleration services and support measures that provide leading expertise and connect companies, investors and ecosystem players.”
[ad_2]