iCapital 2024: semi-finalists and what happens next

The European Innovation Council has announced 12 cities that have reached the semi-final stage of the tenth edition of the European Capital of Innovation Awards, commonly known as iCapital. The prize recognises cities that experiment with governance and technology to improve citizens' wellbeing and to act as role models for other urban authorities. The semi-finalists were selected by two independent high level juries of experts.

The semi-finalists

Process and timeline for the competition

Each semi-finalist city will be invited to a private online hearing with members of the juries during September. The hearings follow formal rules that give the city a chance to present its application and to answer questions from jury members. After the hearings the juries will select three finalists per category.

What the award recognises and how cities are judged

iCapital rewards cities that combine experimentation with concrete steps to scale and disseminate innovation. The award looks beyond single projects to the citywide innovation ecosystem and to the use of innovation in service of citizens rights and social inclusion.

Who runs the prize and how it fits in EU innovation policy

iCapital is one of the EIC Prizes supported under Horizon Europe and administered by the European Innovation Council and SMEs Executive Agency, known as EISMEA. The prize is intended to highlight inclusive urban innovation and to create visibility for successful local approaches. Winners are chosen after evaluation and deliberation by two high level juries of independent experts.

Past winners and the iCapital alumni

Being named iCapital can bring media attention and networking opportunities through the iCapital Alumni network. The award does not in itself guarantee sustained funding for initiatives, so cities generally use the prize to leverage further investment and partnerships.

Implications and a note of caution

Recognition through iCapital can help cities attract attention, investors and partners. The cash awards can fund pilots, scale successful projects or underwrite coordination and replication activities. However the monetary prize is a one off and modest relative to the budgets cities need to transform services or infrastructure. Cities that translate recognition into lasting change typically combine prize money with policy reforms, local investment and private sector engagement.

The jury selection and the closed nature of hearings are meant to ensure rigorous assessment. Observers should nevertheless treat the award as a credibility accelerator rather than a solution to structural challenges of urban innovation. Long term impact depends on local governance capacity and follow through.

Where to find more information

The award is managed by EISMEA as part of the European Innovation Council activities under Horizon Europe. The competition schedule, evaluation rules and past finalists are published by the EIC and EISMEA. Cities and stakeholders interested in the process can consult the EIC Prizes and iCapital pages for rules of contest and guidance documents.