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UK firms lose access to millions in EU innovation funding

Image: alice-photo, Shutterstock

Brexit withdrawal deal severed UK companies’ access to new equity funding from Horizon 2020

UK companies have lost access to new equity investments—which can be worth up to €15 million per company—from a funding scheme under the EU’s Horizon 2020 R&D programme.

The loss of access to the European Innovation Council Accelerator scheme is a little-publicised immediate impact of Brexit, affecting firms since 1 February. UK companies can still apply for EIC grants until 31 December, but cannot ask for equity investment from the EU.

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