EIC: Lessons learnt and financing opportunities - ANDREA FOSFURI BOCCONI UNIVERSITY - Politecnico di Torino
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EIC: Lessons learnt and financing opportunities
ANDREA FOSFURI
BOCCONI UNIVERSITY
EUROPEAN INNOVATION COUNCIL-EIC:
OPPORTUNITIES AND CHALLENGES FROM EUROPE’S FLAGSHIP INNOVATION PROGRAM
POLITECNICO DI TORINO, APRIL 4, 2022
Italian Delegation EIC/EIE Delegate: Andrea Fosfuri – Full Professor, Department of Management and Technology, Bocconi University Experts: Antonio Carbone – ENEA Tech José D’Alessandro – Luiss Business School Luca Moretti – CNR Marina Silverii – Art-ER
TRL1-3 TRL4-6 TRL7-9
Performance of Italian applicants in 2021
ITALY CEREBRO: an electric Contrast medium for computationally intensive Electroencephalographies for high REsolution BRain imaging withOut skull trepanation
2021 EIC Pathfinder Challenge call - EU countries’
participation in proposals retained for funding
ITALY
35
30
coordinator other participant
25
20
15
10
5
0
DE ES IT NL FR BE SE FI IE PT AT DK EL HU BG CZ LU LV PL SI
other
29 25 25 22 13 9 6 4 3 4 3 2 2 2 1 1 1 1 1
participant
coordinator 2 6 6 7 6 1 1 2 1 1 1
ITALY
25 originated
from ERC PoC
and 17 from
FET2021 EIC Accelerator Open and Challenges
ITALY(Financial) opportunities
Allocation of funding (budget)
Evolution of the EIC Portfolio
1800
Major funding increase 1600
under EIC pilot (2018-20) 1400
1200
)
Funding stabilised under 1000
(
800
full EIC (approx. 1.5 F 600
billion/ year) 400
200
0
2014 2015 2016 2017 2018 2019 2020 2021 2022
Call Year
FET Open FET Proactive
Transition Open Transition Challenge
SMEi/ Accelerator grant only Accelerator BlendChallenges 2022:
Carbon dioxide & Nitrogen management and
valorisation
Mid-long term, systems-integrated energy storage
Cardiogenomics
EIC Pathfinder 2022
Healthcare Continuum technologies
Open €183 million DNA-based digital data storage
• May 3, 2022
Alternative Quantum Information Processing,
Challenges €167 million Communication, and Sensing
• October 19, 2022Challenges 2022:
Green digital devices for the future
Process and system integration of clean energy
technologies
RNA-based therapies and diagnostics for complex or
EIC Transition 2022 rare genetic diseases
Open €71 million
• May 4, September 28, 2022
Challenges €61 million
• May 4, September 28, 2022Allowing applicants to apply for investment
component amounts of above 15 million under
certain conditions
EIC Accelerator 2022
Open (€631m) and Challenges 2022:
Challenges (€537m)
Technologies for Open Strategic Autonomy
• SHORT APPLICATIONS: ch ‘F ’
continuous
• LONG APPLICATIONS
• March 23, June 15,
October 5Which projects are funded by the Accelerator?
Characteristics of companies selected by EIC Accelerator: Young and Small, but …
SME Instrument Horizon 2020:
Characteristics of selected companies
• High growth firms (employees)
• Sales negatively correlated
• Consistent with the instrument, financial gap before scaling
• Patents
• VC-supported
Mina et al. (Research Policy 2021)What are the benefits of an Accelerator grant?
SME Instrument Horizon 2020:
Benefits for selected companies
• Increase patenting and quality of patents;
• Trigger faster growth in assets, employment and revenues;
• Increase by a factor of 3 the likelihood of receiving follow-on
equity financing
• Larger effects for firms that are smaller and younger, or operating in
sectors/countries characterized by higher financial frictions
Santoleri et al. (2021) -
The causal effects of R&D
grants: evidence from a
regression discontinuityThree Takeaways • Challenges increasing relevant • opportunity • Transition: A first step toward the Accelerator • leverage good performance in Pathfinder • Accelerator: moving toward scaling up • current weakness of our innovation ecosystem • opportunity to catch up
Thank you
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