‘Kafkaesque’ further delays at EIC

European Innovation Council apologises to grantees put in “difficult position”

The EU’s innovation fund for supporting technology development and small business growth is again delaying its investments, apologising for “the difficult position” this puts grantees in.

Since its fully fledged launch in 2021, the European Innovation Council made dozens of companies suffer delays of up to about a year in receiving equity-based investments, resulting in some MEPs threatening to withhold part of the funder’s €10 billion seven-year budget.