€2 billion to fast forward the creation of the European Innovation Council.
Ahead of the 21-22 March European Council discussion on innovation, industry and competitiveness, the Commission takes decisive steps to set up a European Innovation Council. Global competition is intensifying and Europe needs to deepen its innovation and risk-taking capability to compete on a market increasingly defined by new technologies. That is why the Juncker Commission is introducing a European Innovation Council (EIC) to turn Europe’s scientific discoveries into businesses that can scale up faster. Currently in its pilot phase, the European Innovation Council will become a full-fledged reality from 2021 under the next EU research and innovation programme Horizon Europe.
