The European Commission today approved the European Innovation Council (PSC) 2022 work program, which this year provides funding opportunities of over € 1.7 billion for innovative creators to expand and create new markets for for example in the fields of quantum computing, new generation batteries and gene therapy. The European Innovation Council, launched in March 2021 under the Europe Horizons program, has a total budget of over € 10 billion for the period 2021-2027.
This year’s program includes various new elements, such as:
– A new PSC initiative to expand 100 companies, aimed at identifying 100 promising state-of-the-art companies in the EU, which have the potential to become “unicorn companies” (ie with a valuation of over € 1 billion).
– Share capital investments over € 15 million: The PSC Average Accelerator will allow companies engaged in technologies of strategic interest to Europe to apply for a PSP investment of over € 15 million.
Greater support for innovative women by developing an innovation index to address gaps and encourage gender balance in business. The index will provide coherent information to investors, financiers, clients and policy makers. Also in 2022, the EU Innovative Women Award will include two additional awards for innovative women under 35. There will therefore be a total of six awards: three for the most innovative women from across the EU and the countries associated with Horizon Europe and three for the most promising innovative women under the age of 35 (“Rising Innovators”).
The PSC Challenges Promotion Awards will provide funding opportunities of over € 500 million to start-ups to develop technologies in areas that will contribute to the EU’s goal of reducing clean greenhouse gas emissions by at least 55% by 2030, as well as for the development of strategic autonomy in the fields of quantum, space and new medical technologies.
– € 350 million funding from the PSC Pathfinder Instrument for multidisciplinary research teams to undertake visionary research that will lead to technological breakthroughs.
– Funding of € 131 million from the PSC mechanism to finance the transition, in order to turn research results into innovation opportunities, with an emphasis on the results of the PSC Pathfinder projects and the feasibility projects ( Proof-of-Concept) of the European Research Council, with the aim of maturing technologies and creating a business framework for specific applications.
– € 1.16 billion in funding from the PSC Average Accelerator for start-ups and SMEs to develop and escalate high-impact innovations with the potential to create new markets or disrupt existing ones.
– All European Innovation Council projects will have access to business acceleration services, which provide trainers, mentors and expertise, business partnership opportunities, investors and more.
Source: AMPE
Source: Capital
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