UK firms lose access to millions in EU innovation funding

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.