The European Innovation Council (EIC) is the EU's main programme for supporting breakthrough, high-risk innovations that private investors alone are often reluctant to fund. It runs under Horizon Europe and combines grants, direct equity investment and business support in one system rather than separate funding streams a company has to find on its own.

The main funding route for an established company is the EIC Accelerator, open to individual start-ups and SMEs (including small mid-caps of up to 499 employees for the investment component) with a technology at Technology Readiness Level 6-8, meaning it already works in a relevant environment but is not yet fully on the market. It offers a grant component below EUR 2.5 million for innovation activities to be completed within 24 months, plus an investment component of EUR 1-10 million as blended finance (grant plus equity or a convertible loan) or investment only, for companies that want to scale up quickly without needing a grant. Companies with a project matching one of the EIC's predefined priority topics can apply to the Accelerator Challenges strand, with a EUR 220 million budget in 2026, while any technology field can apply under Accelerator Open, with a EUR 414 million budget in 2026. For companies needing larger amounts to scale up faster, STEP Scale Up offers higher investment amounts than the standard EIC Accelerator investment component, under the same investment guidelines just updated.

Applying is a four-step process. First, companies submit a short proposal, a 12-page form plus a pitch deck and a short video pitch, evaluated monthly; feedback typically arrives within 4-6 weeks. If successful, a full proposal follows (a 20-page form, financial information, implementation plan and a further video pitch), assessed by technical experts and an evaluation panel, with results usually available within 8-9 weeks of the relevant batching date. Top-ranked proposals are then invited to pitch directly to an EIC Jury. Companies that pass the grant stage sign a Grant Agreement and receive their first payment; those seeking investment go through a due diligence process with the EIC Fund, typically taking 2-6 months. Companies with an existing Horizon Europe project or a certified national/regional programme behind them may be eligible for faster Fast Track or Plug-In routes directly into the full proposal stage. All applicants also gain access to EIC Business Acceleration Services: coaching, mentoring, and introductions to partners and investors, regardless of whether their proposal is ultimately funded. Applications from companies based in an EU Member State or a country associated with Horizon Europe can be submitted through the EU Funding & Tenders Portal, and support in preparing an application is available from each country's National Contact Point.

Since its creation in June 2020, the EIC Fund has invested in more than 360 deep-tech companies across Europe, and the Commission reports it leverages over EUR 3.50 of additional private investment for every euro it invests directly, a track record relevant to machinery and robotics companies weighing whether EIC backing could help attract further investors.

See more funding opportunities for the Machinery and Advanced Manufacturing ecosystem.

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