Code of conduct for consultants
Euro-Funding Adheres to EIC's New Code of Conduct for Innovation Consulting.
The EIC board recently adopted a Code of Conduct for consultants who are advising applicants to apply to EIC calls, and in particular the EIC Accelerator. These are a set of ethical guidelines and principles designed to govern the behavior and practices of stakeholders involved with the European Innovation Council. This includes, but is not limited to, innovators, entrepreneurs, researchers, and other participants in EIC-funded activities.
Key aspects of the EIC Code of Conduct include:
- Integrity and Ethical Standards: Encouraging honesty, responsibility, and high ethical standards in all research and innovation activities.
- Transparency: Ensuring clear, open communication about processes, decisions, and criteria for funding, selection, and evaluation.
- Fairness and Impartiality: Making decisions based on merit, without bias or favoritism. This includes fair treatment of all participants and applicants.
- Confidentiality: Protecting sensitive information and respecting the confidentiality of the information and ideas shared by applicants and stakeholders.
- Conflict of Interest Management: Identifying and managing any conflicts of interest that might affect decision-making or the integrity of EIC processes.
- Social Responsibility: Recognizing the broader impact of innovation and research activities on society and the environment, and promoting sustainable and responsible practices.
- Accountability: Holding individuals and organizations accountable for their actions and decisions in the context of EIC activities.
- Respect for Intellectual Property: Upholding the rights associated with intellectual property and ensuring that these rights are respected and protected.
The EIC Code of Conduct is crucial for maintaining the trust and credibility of the European Innovation Council and its initiatives. It ensures that the processes are fair, transparent, and aligned with the broader values of the European Union, such as promoting innovation, ethical research practices, and responsible use of resources.
Euro-Funding is a member of EAIC, the European Association of Innovation Consultants which has been closely associated with the preparation of the Code of Conduct. Euro-Funding fully adheres to the new code.
FUNDING AND SUPPORT IN 2024
The EIC was established to identify, develop and scale up breakthrough technologies and companies, which are critical for EU policies to achieve the green and digital transition and help ensure future open strategic autonomy in critical technologies.
There are three main funding schemes:
- EIC Pathfinder for multi-disciplinary research teams to undertake visionary research with the potential to lead to technology breakthroughs. Projects typically involve consortia of researchers and other partners from at least three different countries, but there are also opportunities for individual teams and small consortia (two partners). Research teams can apply for up to €4 million in grants to support early stage development of future technologies (e.g. various activities at low Technology Readiness Levels 1-3), up to proof of concept.
- EIC Transition to turn research results into innovation opportunities. Calls focus on results generated by EIC Pathfinder projects and European Research Council Proof of Concept projects, to mature the technologies and build a business case for specific applications. The expected outcomes of an EIC Transition project are a technology that is demonstrated to be effective for its intended application (TRL5/6); and a business model, its initial validation, and a business plan for its development to market. Companies can apply for up to €2.5 million in grants.
- EIC Accelerator for start-ups and SMEs to develop and scale up high impact innovations with the potential to create new markets or disrupt existing ones. These ventures harbor ambitions to scale up significantly and seek substantial funding. However, the risks involved often surpass what private investors alone are willing to undertake. Companies can apply for up to €2.5 million in grants for innovation activities only (TRL5-8), and equity investments from €0.5 up to €15 million for market deployment (TRL9).
The Work Programme outlining the implementation of EIC activities in 2024, including specific budgets for each funding program and associated deadlines, is anticipated to be published in December 2023.
Our team at Euro-Funding possesses expertise in EIC funding programs. If you require any assistance or guidance, we’re here to help. Don’t hesitate to get in touch with us.
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