Michiel Scheffer’s roots lie in the textile industry, but his career has always been at the crossroads of manufacturing, innovation, and public policy. Starting with a thesis on EU research in 1986, he’s worn many hats—consultant, regional politician, and academic. His experience designing startup support mechanisms at a regional level set the stage for his role at the EIC, where he now shapes pan-European funding strategy for deep tech.

The European Innovation Council was established in 2018 to help Europe compete globally by backing breakthrough technologies. With funding instruments aligned across Technology Readiness Levels (TRLs) —from Pathfinder (TRL 1–4), Transition (TRL 4–6), to Accelerator (TRL 6–9)—the EIC covers the full innovation funnel. It doesn't just provide grants and equity investments, but also business acceleration services, policy advocacy, and ecosystem building.

• Grant size: ~€2.5M
• Equity investments: €2.5M to €10M (up to €30M via STEP instrument)
• Target companies: Deep tech startups with long commercialization timelines and high potential impact

Scheffer sees the EIC as more than just a funder—it’s a catalyst for a unified European startup ecosystem. Through initiatives like the Trusted Investors Network (78+ VCs collaborating on EIC-backed startups), corporate matchmaking, and strategic programs in quantum, biotech, and advanced materials, the EIC aims to reduce fragmentation and accelerate scale across borders.

Scheffer emphasizes that EIC funds companies with a 5+ year horizon to profitability, deliberately avoiding short-term, SaaS-style ventures. Startups in areas like quantum computing, biotechnology, sustainable materials, and medical imaging need time—and serious support—to succeed. That’s why the EIC targets startups with real traction, typically 7+ years old, with clear market understanding and a mature go-to-market strategy.

Scheffer’s vision goes beyond funding. He’s vocal about:

• The need for smarter regulation, not deregulation—especially in health, energy, and food
• The challenges of scaling startups beyond €20M rounds in Europe
• Strategic autonomy in data, energy, materials, and agri-food systems
• Support for a potential 28th EU business regime to simplify multinational startup operations

One of Scheffer’s key messages is ensuring deep tech reaches the real world. It’s not enough to have promising startups in labs or accelerator programs—what matters is whether they create jobs, products, and solutions that citizens across Europe can see and benefit from. His benchmark? “What will my daughters say in 20 years about what I’ve done?”

Scheffer urges founders to:

• Be strategic: Don’t apply too early or with incoherent proposals
• Understand EU context: Funding decisions factor in climate, digital, and strategic autonomy goals
• Avoid buzzwords: Clearly define your tech, impact, and commercialization plan
• Connect through ecosystem channels: LinkedIn, EIC ambassadors, and board members

European Innovation Council (EIC)

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