The European Innovation Council is a new project of the European Commission that will receive a budget of EUR 2.7 billion by 2020. It is a new, pilot program with aim to support the most innovative companies and projects.

The current financial perspective focuses on several areas: cyber security, migration, circular economy and digitization.
By 2020, the European Innovation Council is going to support one thousand projects.

This year, talks begin on the future budget of the European Union. According to unofficial information, programs related to the innovative economy will remain within EU priorities, and funds will be still allocated to support new solutions and technologies.