Will the wind of change blow through the European Innovation Council?

Venture Summit 11th &12th in Bordeaux, France, and accepted to share with us his vision of this new architecture.

Beyond the amounts of future investments that promise to nurture long and tough negotiations between the European institutions, the proposal of the European Commission for the next Research & innovation program introduces several new features that have already raised also some interesting discussions.

Furthermore, despite the difficulties, the European Commission confirms their ambition to allow Open access to publications and data (Open Science). 

Nicolas Sabatier, Advisor to Jean-David MALO, Director of the Open innovation and Open science at the European Commission, accepted to share with our partner BLUMORPHO, some first insights on the questions raised by those proposals.  

Indeed, from the EIC pilot we learned many important lessons. We learned that the evaluation process should continue to focus on the individual(s), as the face-to-face interviews with a team of expert evaluators, the last phase of the evaluation of the SME Instrument of the EIC pilot have proven a very useful way to ensure the motivation, commitment, talent and enthusiasm of EIC funded projects. Also taking from the EIC pilot, we would like to more towards providing direct tailor-made support to innovators, moving away from traditional grants schemes and a ‘one-size-fits-all’ approach.

The EIC will be implemented through and EIC Advisory Board, which will assist in defining the EIC work programmes, objectives, actions, evaluation criteria and selection of experts (not yet clear how this Board will be established). The EIC will also have its own work programme, based on the advice of the EIC Board, and prepared in consultation with the EIC Board.

Indeed, there are many synergies between the two pillars. Firstly, Pathfinder-funded projects falling within the scope of a Mission but based on radical thinking will be managed in close relation with the corresponding Mission. The Accelerator will play a key role as a take-up and market deployment measure for the whole of Horizon Europe.

Any spin-off from the clusters’ projects (2nd pillar) will benefit from fast-track access to EIC’s Accelerator, to support any additional innovation activities and effective market deployment. As well as working closely with EIT’s Knowledge and Innovation Communities (KICS), partnerships that bring together businesses, research centres and universities, the Accelerator will support spin-offs from national innovation programmes.

As this is the first time such an acceleration instrument will exist under and EU R&I Framework Programmes, it constitutes a major novelty under Horizon Europe, and will bring tremendous EU added-value

The Pathfinder and the Accelerator, the two funding instruments of the proposed EIC in Horizon Europe, are enhanced versions of the current instruments under the EIC pilot. They have the following common characteristics: a focus on breakthrough innovation; a risk-taking approach; a focus on innovator needs; and a proactive management.

The Pathfinder of the EIC will be the EU instrument to develop breakthrough and disruptive innovation from early to pre-commercial stage – this instrument is completely new. It will be operated like the US DARPA or ARPA-E, based on vision and hand-on management by high level Programme Managers enjoying a full autonomy in advising the Commission on objectives and on selection and funding decisions. Disruptive ideas will be further developed through the funding of various interrelated projects and activities of a multidisciplinary nature, constituting portfolio of projects developing a vision or targeting specific objectives. The overall aim will be to nurture on the long run potential market-creating innovations.

The Accelerator builds on SME Instrument Phase II, improves and enhances it, and focuses it where there is a clear EU added-value, and to be even more innovator-centric. The Accelerator also provides part of the Business Acceleration Services (SME Instrument Phase II) to cover other expenditures, including those necessary for initial market deployment (TRL9) and/or the scaling-up, in the form of equity or a full bank loan guarantee, whichever chosen by the beneficiary.

It is important to note that the main objective of the EIC is to target funding and finance towards high-risk, breakthrough and disruptive market-creating companies. InnovFin – EU Finance for Innovators – funded by Invest EU, will continue to provide a range of financing tools to innovative companies across Europe, and the European Fund for Strategic Investments will continue to provide funding to small and medium-sized companies, however these EU programmes will not necessarily focus funding on high-risk or disruptive innovation.

INPHO® Venture Summit, the unique event for executives active in smart technologies and deep tech innovations will hold its 6th edition on 11th & 12th October 2018, in Bordeaux. The event will be chaired by George Ugras, General Manager at AV8 Ventures. In its five previous editions, INPHO® has attracted more than 500 European participants, 50 international keynote speakers and over 80 VCs and corporate funds. More than 60 start-ups have been selected to pitch, raising more than 150 M€.

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