What the 2022 EIC work programme does and why it matters

On 9 February 2022 the European Commission adopted the 2022 work programme for the European Innovation Council. The calls open more than €1.7 billion in annual funding to support so called breakthrough innovators — researchers, start-ups and small and medium sized companies — as they try to scale technology from prototype to market and to expand internationally. The EIC was established in 2021 under Horizon Europe and carries an overall budget envelope of more than €10 billion for 2021–2027.

The 2022 programme is both an incremental and strategic update. It adds new initiatives intended to surface and back a smaller cohort of high potential deep tech firms while aligning funding priorities with EU policy goals including climate targets and strategic autonomy in certain technology areas. The package also includes procedural changes that aim to make application and resubmission easier for applicants.

Headline novelties in the 2022 work programme

The work programme introduces several notable changes designed to support scaling, attract larger investments and address diversity gaps.

Funding architecture and amounts in 2022

The EIC organises funding through a set of complementary instruments. The 2022 work programme included the following headline allocations and instruments, with all beneficiaries having access to a Business Acceleration Services package that offers coaching, mentoring and investor networking.

These figures reflect the 2022 announcement. The EIC Fund was established to manage equity investments alongside grant support and co-invest with private investors to bridge the gap to market finance.

Process changes and simplifications

The 2022 programme introduced several procedural changes that EIC officials framed as simplifications to reduce applicant burden and improve access to follow up funding.

Context, track record and limits of the EIC model

The EIC grew out of a pilot phase that ran from 2018 to 2020 and was folded into Horizon Europe in 2021. The Commission has highlighted a number of positive indicators from its pilot and early implementation period. Reported achievements include support to thousands of start-ups and research projects, an increase in women-led companies among beneficiaries in late 2020, and early equity investments made by the EIC Fund.

These are meaningful signals but they require cautious interpretation. Follow-on private investment can be influenced by broader market cycles and by the maturity of companies independent of EIC grants. The transition from grant support to sustainable private financing and large scale commercial success is difficult and rare. Public programmes can help de‑risk projects but they do not guarantee that a technology will achieve market dominance.

Technical concepts explained

Risks, open questions and practical considerations

The 2022 work programme scales up ambition and tries to improve the hand‑off between public and private funding. Yet several practical challenges remain. Securing larger equity checks depends on investor appetite in specific sectors which can vary widely across countries and market cycles. The effectiveness of the Seal of Excellence in unlocking other public funds hinges on national and regional authorities adopting it in practice. Measuring the EIC’s real contribution to scaling versus natural market maturation will require robust, independent impact assessment over multiple years.

Another recurring constraint for European deep tech scaling is fragmentation in capital markets and exit routes compared with larger single markets. The EIC can help to a degree, for example by drawing attention to high potential companies and by co-investing to attract follow-on private capital. But scaling globally also requires mature venture ecosystems, large follow-on investors and suitable exit environments which remain uneven across the EU.

Practical next steps for applicants and ecosystem actors

Applicants interested in the 2022 calls should note that the Commission scheduled an EIC online information day on 22 February 2022 to present the calls, eligibility, and application process. The Funding and Tenders portal is the entry point for calls and submission. National Contact Points and the Enterprise Europe Network can provide local guidance and are expected to play a role in accompanying applicants, especially if Seal of Excellence referrals are sought.

Bottom line

The 2022 EIC work programme is a sizable, politically driven push to turn Europe’s research strengths into globally competitive companies. It tightens focus on a limited number of high potential scaleups and adds tools to mobilise larger finance. The measures are logical given EU priorities on climate and strategic technology autonomy. Still the real test will be whether the EIC can consistently convert grant-backed innovation into durable companies at scale and whether national and regional systems embrace instruments such as the Seal of Excellence to close funding gaps.