Summary of EU video games industry funding calls for 2024

Last updated: 09th February, 2024

EU funding for the games industry is one of the focus areas of EGDF in its advocacy work in Brussels. The full scope of investment in funding calls dedicated explicitly to the games industry or other games industry-related calls for 2024 is as of yet unknown.

For more information, please contact: Jari-Pekka Kaleva at jari-pekka.kaleva@egdf.eu

If you are looking for European trade associations interested in joining EU project consortiums, please visit: https://www.egdf.eu/euprojects/

Content:

  1. Creative Europe 2024
  2. Horizon Europe 2024
  3. Digital Europe 2024
  4. Erasmus+ 2023
  5. InvestEU Equity
  6. CERV

Summary Table

  Programme Creative EU Horizon EU Erasmus+

EIF

CERV

Organization            
Game dev studios & Publishers 1.1 Video games and immersive content development

1.2 Innovative tools and business models

1.3 Markets and Networking

2.2 Leverage the digital transition for competitive European cultural and creative industries

2.4 Culture, the arts and cultural spaces for democratic participation and political expression, online and offline

2.8 EIC Pathfinder Open

VR/XR/AR 1.1 Video games and immersive content development

1.3 Markets and Networking

2.2 Leverage the digital transition for competitive European cultural and creative industries

2.4 Culture, the arts and cultural spaces for democratic participation and political expression, online and offline

2.8 EIC Pathfinder Open

Higher Education Institutions / Innovation agencies / Research Institutions / 

2.1 Europe’s cultural heritage and arts – promoting our values at home and abroad

2.2 Leverage the digital transition for competitive European cultural and creative industries

2.3 Cultural and creative industries for a sustainable climate transition

2.4 Culture, the arts and cultural spaces for democratic participation and political expression, online and offline

2.5 Startup Europe

2.6 Mutual learning and support scheme for national and regional innovation programmes

2.7 Expanding Academia-Enterprise Collaborations

2.8 EIC Pathfinder Open

 
 
4.1 Partnerships for Cooperation

4.2 Alliances for Innovation

4.3 Capacity Building in the field of higher education Strand 1

4.4 Capacity Building in the field of higher education Strand 2

4.5 Capacity Building in the field of higher education Strand 3

4.6 Capacity building in the field of Vocational education and training (VET)

4.7 Erasmus Mundus Joint Masters

VCs / Funds / Investors

2.5 Startup Europe

2.6 Mutual learning and support scheme for national and regional innovation programmes

5.1 InvestEU  Equity  
Trade associations 1.2 Innovative tools and business models

1.3 Markets and Networking

1.4 European Cooperation projects (Medium & Smal scale)

2.1 Europe’s cultural heritage and arts – promoting our values at home and abroad

2.2 Leverage the digital transition for competitive European cultural and creative industries

2.3 Cultural and creative industries for a sustainable climate transition

2.4 Culture, the arts and cultural spaces for democratic participation and political expression, online and offline

2.5 Startup Europe

2.6 Mutual learning and support scheme for national and regional innovation programmes

2.7 Expanding Academia-Enterprise Collaborations

2.8 EIC Pathfinder Open

4.1 Partnerships for Cooperation

4.2 Alliances for Innovation

4.3 Capacity Building in the field of higher education Strand 1

4.4 Capacity Building in the field of higher education Strand 2

4.5 Capacity Building in the field of higher education Strand 3

4.6 Capacity building in the field of Vocational education and training (VET)

4.7 Erasmus Mundus Joint Masters

6.1 Proposals to promote gender equality
Accelerators / Incubators / Clusters

2.5 Startup Europe

2.8 EIC Pathfinder Open

Game Industry Event Organisers 1.3 Markets and Networking

1.4 European Cooperation projects (Medium & Small scale)

Programme Support Contact Points


Horizon Europe NCPs

Creative Europe Desks

Digital Europe NCPs

Erasmus+ National Agencies


1. Creative Europe funding calls


Major differences from the previous year´s instrument are highlighted in red. Last year´s information that no longer applies is stricken through.

CREA-MEDIA-2024-DEVVGIM — Video games and immersive content development (CLOSED)

  • What the funding can be used for? 
    • This instrument might be particularly interesting for game developer studios. 
    • Aimed at european video game development and XR/AR studios to develop video games and interactive immersive experiences with the potential to reach global audiences, as well as improve the competitiveness, scalability, cooperation, innovation, and sustainability of the European video games industry and other companies producing interactive immersive content in European and international markets by enabling the retention of intellectual property by European developers.
    • Support will be given to the pre-production of works and prototypes of interactive narrative storytelling with original content and/or quality gameplay intended for production and global commercial exploitation via PCs, consoles, mobile devices, tablets, smart phones and other technologies.
    • Strategies should ensure a more sustainable and environmentally-respectful industry(5/100 points in award criteria), gender balance, inclusion, diversity, and representativeness (5/100 points in award criteria), either in the project/content or in the way of managing the activity.
    • The applicant company must own the majority of the rights (or adaptation rights) related to the project.
    • The following projects are ineligible (both as previous work and as work submitted for funding): puzzle games, memory games, sports games, racing games, running games,rhythm/singing/dancing games, social games, quiz games, party games,versus-fighting games, word and spelling games, number games, mind games, even if they have a narrative element. Check full list in section 2 of this document
  • Who can apply? (cumulative conditions):
    • Applicants must be:
      • legal entities (public or private bodies)
      • established in Creative Europe Participating Countries and be in EU Member States(including overseas countries and territories(OCTs)) or listed EEA countries and countries associated to the Creative Europe Programme or countries which are in ongoing negotiations for an association agreement and where the agreement enters into force before grant signature (Non-EU Participating countries)
      • entities established and owned by people in one of the countries participating FULLY in the MEDIA strand. When a company is publicly listed, the location of the stock exchange will in principle determine its nationality.
      • A Company whose main objective and activity is video game production/development, (entertainment) software development or audiovisual production (or equivalent) and can demonstrate recent experience in producing internationally commercially distributed eligible works. I.e, able to provide a relevant sales report showing sales in the period between 01/01/2021 and the date of the deadline for submission
      • Applications by single applicants are allowed (single beneficiaries; affiliated entities are allowed if needed), as well as proposals submitted by a consortium of at least 2 applicants (beneficiaries; not affiliated entities).
      • Publishing companies are not eligible.
      • Work-for-hire, i.e. projects for which the development or production work was subcontracted to the applicant/coordinator by another company, is not eligible, nor are projects on which a member of the applicant/coordinating company has a personal credit. Early Access works are not eligible either because they are not completed works yet and are still being developed.
  • How much funding will be available: 
    • Total call budget is estimated at EUR 6.000.000 EUR 7.000.000 
    • The grant will be a lump sum grant. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 60%
    • The maximum EU grant per project is EUR 150.000 EUR 200.000.
    • Pre-financing rate is normally 70% of the maximum grant amount
    • Projects should not normally exceed 36 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 3 October 2023
    • Deadline for submission: 24 January 2024 – 17:00:00 CET (Brussels)
  • For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/crea-media-2024-devvgim?keywords=video%20games 

CREA-MEDIA-2024-INNOVBUSMOD — Innovative tools and business models (CLOSED)

  • What the funding can be used for? 
    • This instrument might be particularly interesting for game developer studios, publishers, trade associations. 
    • Support for promotion and marketing tools, including online and through data analytics, to increase the prominence, visibility, cross-border access, and audience reach of European work.
    • Development/spread of innovative tools and business models to improve visibility, availability, audience, and diversity of European works in the digital age and/or the competitiveness and/or the greening process of the European audiovisual industry.
    • Subtitling or accessibility/discoverability/recommendation tools for improving visibility, availability, and audience potential of European audiovisual works.
    • Business tools for improving the efficiency and transparency of the audiovisual markets.
    • Business models optimizing synergies between distribution platforms.
    • Business tools exploring new modes of production, financing, distribution, or promotion enabled by new technology.
  • Who can apply? (cumulative conditions):
    • Applicants must be:
      • legal entities (public or private bodies)
      • established in Creative Europe Participating Countries and be in EU Member States(including overseas countries and territories(OCTs)) or listed EEA countries and countries associated to the Creative Europe Programme or countries which are in ongoing negotiations for an association agreement and where the agreement enters into force before grant signature (Non-EU Participating countries)
      • entities established and owned by people in one of the countries participating FULLY in the MEDIA strand. When a company is publicly listed, the location of the stock exchange will in principle determine its nationality.
  • How much funding will be available: 
    • Total call budget is estimated at EUR 6.000.000 EUR 8,500,000
    • The grant will be budget-based. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 70%
    • The maximum EU grant per project is unlimited
    • Pre-financing rate is normally 40% of the maximum grant amount
    • Projects should not normally exceed 24 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 3 October 2023
    • Deadline for submission:  25 January 2024 – 17:00:00 CET (Brussels)
  • For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/crea-media-2024-innovbusmod?keywords=CREA-MEDIA-2024&matchWords=false 

CREA-MEDIA-2024-MARKETNET — Markets and Networking (CLOSED)

  • What the funding can be used for? 
    • This instrument might be particularly interesting for game developer studios, publishers, trade associations, event organizers. 
    • Industry events, physical, digital or hybrid, focused on business-to-business exchanges among European audiovisual professionals, facilitating coproductions and sales and showing a structuring effect on the European audiovisual eco-system as well as impact on the promotion and sales of European audiovisual works on global markets. Activities and events should adapt to current market trends and include innovative content (videogames, VR, XR, AI, cross-media), animation or genre audiovisual works. 
    • Networks of markets, organised around a thematic basis or geographically, should increase their impact on the audiovisual industry. They can therefore cover e.g. several film markets of a specific region or e.g. several markets focussing on specific types of works (i.e. kids content, documentaries, animation, videogames, AR, VR) or both.
    • Networking activities contributing to the promotion of European works and consolidation of the audiovisual eco-system across the whole value chain. 
    • These networks can propose activities related to different existing markets within and outside the countries participating in the MEDIA strand. Such activities will include:
      • B2B promotional activities, including financial support to third parties, aimed at facilitating the distribution of European audiovisual works or exchange of best practices, with a particular focus on innovative technologies and business practices
      • activities related to the co-creation of series, leading to marketable and competitive European series
    • Activities related to the following type of works are not considered as eligible: live broadcasting, music videos, non-narrative artistic works (including but not limited to art videos, experimental videos etc), commercial and promotional works (including but not limited to advertisements), reality TV and talk shows.
    • Applications should present activities to be implemented over 2 years.
  • Who can apply? (cumulative conditions):
    • Applicants must be:
      • legal entities (public or private bodies)
      • established in Creative Europe Participating Countries and be in EU Member States(including overseas countries and territories(OCTs)) or listed EEA countries and countries associated to the Creative Europe Programme or countries which are in ongoing negotiations for an association agreement and where the agreement enters into force before grant signature (Non-EU Participating countries)
      • entities established and owned by people in one of the countries participating FULLY in the MEDIA strand. When a company is publicly listed, the location of the stock exchange will in principle determine its nationality.
      • Applications by single applicants are allowed (single beneficiaries; affiliated entities are allowed if needed), as well as proposals submitted by a consortium of at least 2 applicants (beneficiaries; not affiliated entities).
  • How much funding will be available: 
    • Total call budget is estimated at EUR 13.000.000 16,500,000
    • The grant will be budget-based. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 70%
    • The maximum EU grant per project is unlimited
    • Pre-financing rate is normally 50% of the maximum grant amount
    • costs for financial support to third parties: allowed for grants; maximum amount per third party EUR 60 000
    • indirect cost flat-rate: 7% of the eligible direct costs
    • Projects should not normally exceed 24 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 3 October 2023
    • Deadline for submission:  18 January 2024 – 17:00:00 CET (Brussels)
  • For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/crea-media-2024-marketnet 

CREA-CULT-2024-COOP — European Cooperation projects (Medium & Small scale) (CLOSED)

  • For who: European CCI organizations
  • Doing what:
    • Projects involving organisations in the cultural and creative sectors of all sizes, including micro-organisations and small-sized organisations, and from different countries to undertake sectoral or cross-sectoral activities.
    • Proposals are expected to present a clear cross-border cooperation dimension
    • Projects involving exclusively organisations from the audio-visual sector and projects of an exclusive audiovisual content are not targeted for funding
    • The funding call supports projects contributing to one of two main objectives:
      • Innovation: Enhance the capacity of European cultural and creative sectors to nurture talents, innovate, prosper, generate jobs, and growth.
      • Transnational Creation and Circulation: Strengthen the transnational creation and circulation of European works and artists.
    • Projects must also address at least one (and no more than two) of the following priorities:
      • Increase access, engagement, and participation in culture, especially content from other countries.
      • Promote societal resilience, culture’s role in health and well-being, and enhance social inclusion in/through culture.
      • Co-create and adopt environment-friendly practices, and raise awareness on sustainable development.
      • Assist the cultural and creative sectors in digital transition and address challenges raised by emerging technologies.
      • Build capacity for cross-border activities and contribute to international cultural relations.
      • Support to Ukrainian cultural and creative sectors, focusing on sustaining Ukrainian culture during and post-war.
    • European
      • your company is based in a country fully participating in Creative Europe media strand
      • your company is owned directly or indirectly, wholly or by majority participation, by nationals from countries participating fully in the MEDIA strand. When a company is publicly listed, the location of the stock exchange will in principle determine its nationality.
  • Medium-scale projects:
    • The consortium must be composed of minimum 5 entities from 5 different eligible countries.
    • Maximum grant amount: €1M
    • Funding rate: maximum 70%
  • Small-scale projects:
    • The consortium must be composed of minimum 3 entities from 3 different eligible countries.
    • Maximum grant amount: €200k per project.
    • Funding rate: maximum 80%
  • When?
    • Deadline for submission: 23rd of January 2024 17:00 CET (NOT AT MIDNIGHT)

Horizon Europe funding calls


HORIZON-CL2-2024-HERITAGE-01-04 – Horizon Europe funding for Europe’s cultural heritage and arts – promoting our values at home and abroad (CLOSED)

  • For who: Horizon Europe participant research institutions, local/regional/ national clusters, or other parties involved in R&I and policy for the games industry
  • Doing What
    • Increase Visibility and Access: Enhance the international presence of European arts and culture, thereby strengthening the contemporary image of the EU.
    • Develop Pilot Solutions: Create and test innovative models for cooperation that integrate local, national, and European efforts, and involve strategic alliances across various sectors.
    • Assess Effectiveness: Evaluate current practices, programs, and policies in promoting European values and identities outside Europe.
    • Strengthen CCIs: Bolster the worldwide presence of European CCIs, focusing on sustainable and inclusive growth.
    • Identify and Overcome Barriers: Analyze existing barriers to effective promotion of European arts and culture and propose solutions.
    • Policy Recommendations: Develop recommendations for integrating innovative models into arts policies at various levels
  •  Funding:
    • Total call budget: €13M
    • Maximum grant: €300-400k
    • Maximum funding rate: 70% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • DL 7.2.2024 17:00 CET (NOT AT MIDNIGHT)
    • The results: TBD
    • Projects start: TBD
  • For more information: 

HORIZON-CL2-2024-HERITAGE-01-03 -Horizon Europe funding – Leverage the digital transition for competitive European cultural and creative industries (CLOSED)

  • For who: Horizon Europe participant research institutions, local/regional/ national clusters, or other parties involved in developing measures for supporting the games industry
  • Doing What
    • Developing effective, cost-efficient strategies to help CCIs use digital technologies to enhance competitiveness and sustainability.
    • Target specific CCI sectors or cross-sectoral issues for significant impact, incorporating digital technologies like big data, AI, VR, AR, and XR.
    • Create measures effective across various Member States and suitable for CCIs of all sizes, possibly through collaborative platforms and networks.
    • Conduct at least 4 small-scale pilot trials under real conditions to refine these measures, involving at least 4 different Member States/Associated Countries, diverse stakeholders and ensuring applicability in different national contexts and company sizes.
    • Building upon EU-funded knowledge, networks, and platforms, including projects under the “European Cloud for Cultural Heritage” call.
  • Funding:
    • Total call budget: €13M
    • Maximum grant: €300-400k
    • Maximum funding rate: 70% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • DL 7.2.2024 17:00 CET (NOT AT MIDNIGHT)
  • For more information: 

HORIZON-CL2-2024-HERITAGE-01-02 – Horizon Europe funding – Cultural and creative industries for a sustainable climate transition (CLOSED)

  • For who: Horizon Europe participant research institutions, local/regional/ national clusters, or other parties involved in R&I and policy for the games industry
  • Doing what
    • Developing refined and validated approaches for CCIs to be significant drivers of a sustainable climate transition.
    • Business models, use of new technologies, production methods and development or adaption of new technological solutions, as well as addressing gaps in skills and capacities.
    • Proposals should provide for testing and refining such model(s) through small scale pilot trials under real world conditions. Should be valid across different Member States/Associated Countries, and address the needs of small, micro as well as larger companies.
    • Making substantial contributions to help European CCIs adapt to and contribute to the climate transition, aligning with the 2030 goals of the European Green Deal.
    • Particularly targeted towards projects that can build upon the findings of the ‘Cultural and creative industries for a sustainable climate transition’  2023 calls.
  • Funding:
    • Total call budget: €13M
    • Maximum grant: €300-400k
    • Maximum funding rate: 70% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • DL 7.2.2024 17:00 CET (NOT AT MIDNIGHT)
  • For more information: 

HORIZON-CL2-2024-DEMOCRACY-01-08 – Horizon Europe – Culture, the arts and cultural spaces for democratic participation and political expression, online and offline (CLOSED)

  • For who: Horizon Europe participant research institutions, local/regional/ national clusters, or other parties involved in R&I and policy for the games industry, particularly metaverses
  • Doing What
    • Developing recommendations to foster civic participation through a deep analysis of the use of spaces beyond classic democratic institutions. This includes cultural and artistic spaces, as well as cyberspace and metaverses, for political expression.
    • Creating forward-looking policy recommendations to ensure that digital spaces (including metaverses and social networks) can positively impact democratic life and limit potential threats to democracy.
    • Experimenting with solutions, methods, and tools to support democratic behavior and social well-being for the next generation of social media.
  • Funding:
    • Total call budget: €9M
    • Maximum grant: €200-300k
    • Maximum funding rate: 100% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • DL 7.2.2024 17:00 CET (NOT AT MIDNIGHT)
  • For more information: 

HORIZON-EIE-2024-CONNECT-01-02 – Horizon Europe – Startup Europe

  • For who:Horizon Europe participant entities involved in the start-up ecosystem such as business angel organizations, venture capital entities, accelerators, incubators, start-up associations, and clusters.
  • Doing What
    • Enhance the presence of European start-ups in strategic digital and deep tech sectors, including AI, Advanced Computing, Cybersecurity, Next Generation Internet, Blockchain, IoT, Metaverse, Energy, Greentech, AgriTech, and Fintech.
    • Improve the connections of start-ups, especially those supported by the European Institute of Innovation and Technology (EIT) and the European Innovation Council (EIC), to local and European ecosystems, communities, and potential new markets.
    • Boost the ability of EU-funded digital and deep tech start-ups to match their technology solutions with investment and growth opportunities.
  • At least 50% of the beneficiaries in a consortium must be established in ‘modest’ or ‘emerging’ innovator countries or regions
  • Startups should be able to demonstrate market-product fit or have at least a seed round of financing raised
  • Funding:
    • Total call budget: €12M
    • Maximum grant: €150k
    • Maximum funding rate: 100% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • Opening: 11.1.2024
    • DL 25.4.2024 17:00 CET (NOT AT MIDNIGHT)
  • For more information: 

HORIZON-EIE-2024-CONNECT-02-02 – Horizon Europe – funding for Mutual learning and support scheme for national and regional innovation programmes

  • For who: Horizon Europe participant national/regional/local clusters, game associations, innovation agencies (public or private), funds/investors, higher education institutions
  • Doing What:
    • Actions that enhance the efficiency, inclusivity, and connectivity of innovation ecosystems across the EU.
    • Including diverse innovation players from industry, academia, civil society, and public authorities in the innovation process.
    • Mobilising policies, funding instruments (EU, national, regional) and fostering synergies between them;
  • Horizon Europe participant:
    • EU Member States & Countries associated to Horizon Europe (includes Norway,UK, Turkey, Ukraine, Serbia); For a full list of the eligible countries, check this document.
    • Consortia must have at least 3 independent legal entities of which at least 1 is established in a ‘moderate’ or ’emerging’ innovator region and at least 1 in a ‘strong’ or ‘innovation leader’ innovator region
  • Funding:
    • Total call budget: €1M
    • Maximum grant: €100k
    • Maximum funding rate: 100% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • Opening: 06 June 2024
    • DL 19 September 2024 17:00:00 Brussels time
      (NOT AT MIDNIGHT
      )
  • For more information: 

HORIZON-EIE-2024-CONNECT-02-01 – Horizon Europe – funding for Expanding Academia-Enterprise Collaborations

  • For who: Horizon Europe participant Vocational schools, higher education establishments, public authorities in the field of education and employment, national/regional/local clusters, game associations and innovation hubs
  • Doing What
    • Involving business experts in networking activities to foster a vibrant innovation community around academic and research institutions.
    • Engaging a diverse group of students, graduates, researchers, and professionals from various disciplines and departments in networking and collaborative efforts
    • Encouraging students and researchers to participate in start-ups, both locally and on a broader scale
    • Creating synergies among students, graduates, researchers, innovators, educational institutes, research organizations, and business partners
  • Consortia must have at least 3 independent legal entities of which at least 1 is established in a ‘moderate’ or ’emerging’ innovator region, at least 1 in a ‘strong’ or ‘innovation leader’ innovator region, at least 1 educational institution or research organisation and at least 1 representative of the private sector
  • Funding:
    • Total call budget: €2.5M
    • Maximum grant: €500k
    • Maximum funding rate: 100% 
    • Length of the projects: Max 36 months (extensions possible)
  • When? 
    • Opening: 06 June 2024
    • DL 19 September 2024 17:00:00 Brussels time
      (NOT AT MIDNIGHT
      )
  • For more information: 

HORIZON-EIC-2024-PATHFINDEROPEN-01-01 EIC Pathfinder Open

  • What the funding can be used for? 
    • This instrument might be particularly interesting for games research focused universities/organisations, game startups or SMEs. 
    • You should apply if you are looking for support from EIC Pathfinder Open to realise an ambitious vision for radically new technology, with potential to create new markets and/or to address global challenges. EIC Pathfinder Open supports early stage development of such future technologies (e.g. various activities at low Technology Readiness Levels from 1 to 4), based on high-risk/high-gain science-towards-technology breakthrough research (including ‘deep-tech’, e.g. AI).
      • Note: before submitting your application, please check with the programme support contact point that your proposal is in align with programm’s definition of radical technology/deep tech.
    • Proposals should meet all the following essential characteristics (‘Gatekeepers’):
      • Convincing long-term vision of a radically new technology that has the potential to have a transformative positive effect to our economy and society.
      • Concrete, novel and ambitious science-towards-technology breakthrough, providing advancement towards the envisioned technology.
      • High-risk/high-gain research approach and methodology, with concrete and plausible objectives.
  • Who can apply? (cumulative conditions):
    • This call is open for collaborative research. Your proposal must be submitted by the coordinator, on behalf of a consortium including as beneficiaries, at least three legal entities, independent from each other and each established in a different country as follows:
      • at least one legal entity established in a Member State; and
      • at least two other independent legal entities, each established in different Member States or Associated Countries.
    • The legal entities may for example be game education/research organisations, game education/research institutions, games trade associations, game developer studios and publishers. The eligibility of associated countries and third countries is detailed in EIC work programme (Annex 2).
  • How much funding will be available: 
    • Total call budget is estimated at EUR 136,000,000
    • The funding rate of this grant is 100% of the eligible costs.  
    • The maximum EU grant is EUR 3 million, or more if properly justified
  • When?

3. Digital Europe funding calls


DIGITAL-2023-CLOUD-DATA-AI-05-CULTHERITAGE – Digital Europe – funding Data Space for Cultural heritage (CLOSED)

  • For who: Cultural heritage organisations, 3D and XR technology providers, academic and research partners, stakeholders in creative sectors, education, tourism, interested in re-use.
  • Doing What
    • Setting or extending the necessary frameworks and tools for the availability of advanced 3D and XR data in the data space for cultural heritage
    • Collaborating with existing and relevant EU, national and regional initiatives and/or platforms for 3D digitisation of museum artefacts, monuments and sites, and XR application in cultural heritage
    • Enriching the offer of 3D and XR data in the data space;
    • Offering online experiences for the public based on 3D and XR;
    • Fostering the re-use of cultural heritage XR and 3D data in important domains such as education, social sciences and humanities, tourism and the wider cultural and creative sector.
    • Minimum 3 independent applicants (beneficiaries; not affiliated entities) from
    • 3 different eligible countries
  • Funding:
    • Total call budget: €4M
    • Maximum grant: €1M
    • Maximum funding rate: 50% 
    • Length of the projects: Max 18 months (extensions possible)
  • When? 
    • DL 23.01.2024 17:00 CET (NOT AT MIDNIGHT)
  • For more information: 

4. Erasmus+ 


Erasmus+ is the EU’s programme to support education, training, youth and sport in Europe.

4.1 Erasmus + Partnerships for Cooperation

This action enables participating organisations to gain experience in international cooperation and to strengthen their capacities. In 2023, partnerships for cooperation must address one or more of the following horizontal priority areas:

  • Inclusion and diversity in all fields of education, training, youth and sport
  • Environment and fight against climate change
  • Addressing digital transformation through development of digital readiness, resilience and capacity
  • Common values, civic engagement and participation

In addition to the general priorities mentioned above, specific priorities in the fields of higher education, school education, vocational education and training, adult education, and youth will be pursued in their respective sectors (check pages 218-225 of this document for the full list).

Two types of partnerships are offered to organisations for working, learning and growing together:

  • Cooperation Partnerships
  • Small-scale Partnerships

4.2 -Erasmus + Alliances for Innovation

Alliances for Innovation aim to strengthen Europe’s innovation capacity by boosting innovation through cooperation and flow of knowledge among higher education, vocational education and training (both initial and continuous), and the broader socio-economic environment, including research.

4.3 ERASMUS-EDU-2024-CBHE-STRAND-1 Capacity Building in the field of higher education Strand 1 (CLOSED)

  • What the funding can be used for? 
    • Collaboration between games industry focused organizations and higher education institutions in Europe and outside Europe
    • This Strand will finance small-scale projects to reduce the internationalisation gap among HEIs from eligible third countries not associated to the Programme, from the same country or Region. The projects that fall under this Strand will primarily focus on the following areas within third countries not associated with the Programme:
      • HEIs from least developed third countries not associated to the Programme;
      • HEIs located in remote regions/areas of third countries not associated to the Programme;
      • Newcomers or less experienced HEIs and Faculties from third countries not associated to the Programme;
      • Students and staff with fewer opportunities.
    • Each applicant will need to identify in Part C of the application form only one of the overarching priorities, which are defined by the European Commission per Region.
      • For Regions 1 to 3 sub-priorities have also been defined (see Part C of the application form). Within the overarching priority identified by the applicant, the project must choose compulsorily only one sub-priority.
      • For Regions 5 to 11 only overarching priorities exist and only one of them must be chosen by the project.
      • For more detailed information on overarching priorities by regions, please check the call description.
  • Who can apply? (cumulative conditions):
    • Applicants (beneficiaries and affiliated entities, if applicable) must be (public or private) legal entities falling under the following categories:
      • higher education institutions (HEIs) or organisations of HEIs;
      • organisations or institutions active in the labour market or in the fields of education, training and youth.
    • These entities must be established in one of the eligible countries:
      • an EU Member State
      • a third country associated to the Programme
      • a third country not associated to the Programme from an eligible region. The eligible regions covered by this action are:
        • Region 1 Western Balkans
        • Region 2 Neighbourhood East (Organisations from Belarus are not eligible to participate in this action)
        • Region 3 South-Mediterranean countries
        • Region 5a Asia
        • Region 6 Central Asia
        • Region 7a Middle East
        • Region 8a Pacific
        • Region 9 Sub-Saharan Africa
        • Region 10 Latin America
        • Region 11 Caribbean
      • Coordinator
        • Among the entities described above, only higher education institutions (HEIs) or organisations of HEIs can be coordinators of a CBHE application. 
      • Consortium composition:
        • The following minimum composition must be respected:
          • National projects (open only for Regions 2 (Organisations from Belarus are not eligible to participate in this action), 3, 5a, 6, 7a, 8a, 9):
            • at least 2 EU Member States or third countries associated to the Programme;
              • each of these countries must involve at least 1 HEI.
            • only 1 eligible third country not associated to the Programme;
              • involving at least 2 HEIs  (Please check an exception on page 332 of the programme guide)
              • The number of participating organisations from third countries not associated to the Programme must be equal to or higher than the number of participating organisations from EU Member States and third countries associated to the Programme.
          • Multi-country projects (open for all eligible regions):
            • at least 2 EU Member States or third countries associated to the Programme;
              • each of these countries must involve at least 1 HEI.
            • at least 2 eligible third countries not associated to the Programme. Each of these countries must involve at least 2 HEIs (Please check an exception on page 332 of the programme guide)
            • The number of participating organisations from third countries not associated to the Programme must be equal to or higher than the number of participating organisations from EU Member States and third countries associated to the Programme.
  • How much funding will be available: 
    • Total call budget of Strand 1 is estimated at EUR 29,395,525
    • The grant will be budget-based. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 90%
    • The maximum EU grant per project for Strand 1 is between EUR 200,000 and EUR 400,000
    • National Agencies or the Executive Agency may decide to split the first pre-financing payment into more installments. They may also decide to reduce the pre-financing or not pay any pre-financing at all, if the financial capacity of the beneficiary is deemed weak.
    • Projects should normally last 24 or 36 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 30 November 2023
    • Deadline for submission: 08 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/erasmus-edu-2024-cbhe-strand-1?tenders=false&programmePeriod=2021%20-%202027&frameworkProgramme=43353764

4.4 ERASMUS-EDU-2024-CBHE-STRAND-2 Capacity Building in the field of higher education Strand 2 (CLOSED)

  • What the funding can be used for? 
    • Collaboration between games industry focused organizations and higher education institutions in Europe and outside Europe
    • The projects will combine the following elements for the benefit of HEIs in the third countries not associated to the Programme :
      • Innovation in higher education in order to enhance its relevance for the labour market and the society. It is expected that the proposed projects address mismatches between the requirements of employers and the offer of higher education institutions and propose integral solutions to enhance better employability of students. This can be done by implementing comprehensive interventions that include:
        • the design of innovative curricula and introducing innovative elements in the existing curricula;
        • the implementation of innovative learning and teaching methods (i.e. learner-centred and real problem-based teaching and learning);
        • the active engagement with the business world and with research, the organisation of continuing educational programmes and activities with and within enterprises;
        • the strengthening of the capacities of HEIs to network effectively in research, scientific and technological innovation.
    • Each applicant will need to identify in Part C of the application form only one of the overarching priorities, which are defined by the European Commission per Region.
      • For Regions 1 to 3 sub-priorities have also been defined (see Part C of the application form). Within the overarching priority identified by the applicant, the project must choose compulsorily only one sub-priority.
      • For Regions 5 to 11 only overarching priorities exist and only one of them must be chosen by the project.
      • Please note: The overarching priorities for Region 7 (Middle East) and Region 8 (Pacific) are applicable only for multi-national projects involving more than one Regions. For more detailed information on overarching priorities by regions, please check the call description.
  • Who can apply? (cumulative conditions):
    • Applicants (beneficiaries and affiliated entities, if applicable) must be (public or private) legal entities falling under the following categories:
      • higher education institutions (HEIs) or organisations of HEIs;
      • organisations or institutions active in the labour market or in the fields of education, training and youth.
    • These entities must be established in one of the eligible countries:
      • an EU Member State
      • a third country associated to the Programme
      • a third country not associated to the Programme from an eligible region. The eligible regions covered by this action are:
        • Region 1 Western Balkans
        • Region 2 Neighbourhood East (Organisations from Belarus are not eligible to participate in this action)
        • Region 3 South-Mediterranean countries
        • Region 5a Asia
        • Region 6 Central Asia
        • Region 7a Middle East
        • Region 8a Pacific
        • Region 9 Sub-Saharan Africa
        • Region 10 Latin America
        • Region 11 Caribbean
    • Coordinator
      • Among the entities described above, only higher education institutions (HEIs) or organisations of HEIs can be coordinators of a CBHE application. 
    • Consortium composition:
      • The following minimum composition must be respected:
        • National projects (open only for Regions 2 (Organisations from Belarus are not eligible to participate in this action), 3, 5a, 6, 7a, 8a, 9):
          • at least 2 EU Member States or third countries associated to the Programme;
            • each of these countries must involve at least 1 HEI.
          • only 1 eligible third country not associated to the Programme;
            • involving at least 2 HEIs  (Please check an exception on page 332 of the programme guide)
            • The number of participating organisations from third countries not associated to the Programme must be equal to or higher than the number of participating organisations from EU Member States and third countries associated to the Programme.
        • Multi-country projects (open for all eligible regions):
          • at least 2 EU Member States or third countries associated to the Programme;
            • each of these countries must involve at least 1 HEI.
        • at least 2 eligible third countries not associated to the Programme. Each of these countries must involve at least 2 HEIs (Please check an exception on page 332 of the programme guide)
        • The number of participating organisations from third countries not associated to the Programme must be equal to or higher than the number of participating organisations from EU Member States and third countries associated to the Programme.
  • How much funding will be available: 
    • Total call budget of Strand 2 is estimated at EUR 43,380,000
    • The grant will be budget-based. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 90%
    • The maximum EU grant per project for Strand 3 is between EUR 400,000 and EUR 800,000
    • National Agencies or the Executive Agency may decide to split the first pre-financing payment into more installments. They may also decide to reduce the pre-financing or not pay any pre-financing at all, if the financial capacity of the beneficiary is deemed weak.
    • Projects should normally last 24 or 36 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 30 November 2023
    • Deadline for submission: 08 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/erasmus-edu-2024-cbhe-strand-2?tenders=false&programmePeriod=2021%20-%202027&frameworkProgramme=43353764

4.5 ERASMUS-EDU-2024-CBHE-STRAND-3 Capacity Building in the field of higher education Strand 3 (CLOSED)

  • What the funding can be used for? 
    • Collaboration between games industry focused organizations and higher education institutions in Europe and outside Europe
    • By involving the competent National Authorities (notably Ministries of Education) of third countries not associated to the Programme, Higher Education Institutions (HEIs), research institutions and other relevant authorities/bodies and stakeholders, these projects will particularly:
      • Promote cooperation and mutual learning among and between national public authorities to foster systemic improvement and innovation in the higher education sector.
      • Promote inclusive higher education systems that can provide the right conditions for students of different backgrounds to access learning and succeed. Particular attention should therefore be paid to people with fewer opportunities.
      • Increase the capacities of HEIs of third countries not associated to the Programme, bodies in charge of higher education and competent authorities (notably Ministries) through their participation in the definition, implementation and monitoring of reform processes to modernise their higher education systems, particularly in terms of quality assurance, governance and financing.
      • Identify synergies with ongoing EU initiatives in the third country(ies) not associated to the Programme in areas covered by Erasmus+
  • Who can apply? (cumulative conditions):
    • Applicants (beneficiaries and affiliated entities, if applicable) must be (public or private) legal entities falling under the following categories:
      • higher education institutions (HEIs) or organisations of HEIs;
      • organisations or institutions active in the labour market or in the fields of education, training and youth.
    •  These entities must be established in one of the eligible countries:
      • an EU Member State
      • a third country associated to the Programme
      • a third country not associated to the Programme from an eligible region. The eligible regions covered by this action are:
        • Region 1 Western Balkans
        • Region 2 Neighbourhood East (Organisations from Belarus are not eligible to participate in this action)
        • Region 3 South-Mediterranean countries (Organisations from Syria are not eligible to participate in this action)
        • Region 5a Asia
        • Region 6 Central Asia
        • Region 7a Middle East
        • Region 8a Pacific
        • Region 9 Sub-Saharan Africa
        • Region 10 Latin America
        • Region 11 Caribbean
      • Coordinator
        • Among the entities described above, only higher education institutions (HEIs) or organisations of HEIs can be coordinators of a CBHE application. 
    • Consortium composition:
      • The following minimum composition must be respected:
        • at least 2 EU Member States or third countries associated to the Programme;
          • each of these countries must involve at least 1 HEI.
        • at least 1 eligible third country not associated to the Programme;
            • each participating country must involve at least 2 HEIs (Exception: In third countries not associated to the Programme where the number of HEIs recognised by the competent national authorities is lower than 5 in the whole country, or in cases where one single institution represents more than 50% of the overall student population of the country, applications counting only one HEI from those countries will be accepted) and the national competent authority (e.g. Ministry) responsible for higher education in the country.
        • The number of participating organisations from third countries not associated to the Programme must be equal to or higher than the number of participating organisations from EU Member States and third countries associated to the Programme.
  • How much funding will be available: 
    • Total call budget of Strand 3 is estimated at EUR 15,500,000
    • The grant will be budget-based. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 90%
    • The maximum EU grant per project for Strand 3 is between EUR 600,000 and EUR 1,000,000 
    • National Agencies or the Executive Agency may decide to split the first pre-financing payment into more installments. They may also decide to reduce the pre-financing or not pay any pre-financing at all, if the financial capacity of the beneficiary is deemed weak.
    • Projects should normally last 36 or 48 months (extensions are possible, if duly justified and through an amendment).
  • When?
    • Call opening: 30 November 2023
    • Deadline for submission: 08 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/erasmus-edu-2024-cbhe-strand-3?tenders=false&programmePeriod=2021%20-%202027&frameworkProgramme=43353764

4.6 ERASMUS-EDU-2024-CB-VET Capacity building in the field of Vocational education and training (VET)

  • What the funding can be used for? 
    • Collaboration between games industry focused organizations and vocational education institutions in Europe and outside Europe
    • Capacity building projects are international cooperation projects based on multilateral partnerships between organisations active in the field of VET in EU Member States and third countries associated to the Programme, and third countries not associated to the Programme. They aim to support the relevance, accessibility, and responsiveness of VET institutions and systems in third countries not associated to the Programme as a driver of sustainable socio-economic development.
    • Funded projects will be able to integrate a wide range of cooperation, exchange, communication and other activities including for example:
      • Creating and developing networks and exchanges of good practice between VET providers in third countries not associated to the Programme and in EU Member State or third country associated to the Programme;
      • Creating tools, programmes and other materials to build the capacity of institutions from third countries not associated to the Programme (practical training schemes training programmes and tools for assessing and validating learning outcomes in VET, individual action plans for participating institutions; professional guidance and counselling and coaching methods…);
      • Creating mechanisms to involve the private sector both in the design and delivery of curricula and to provide VET learners with high quality work-based experience;
      • Developing and transferring pedagogical approaches, teaching and training materials and methods, including work based learning, virtual mobility, open educational resources and better exploitation of the ICT potential;
      • Developing and implementing international (virtual) exchange activities for staff primarily (including teachers and non-teaching staff such as school leaders, managers, counsellors, advisors, etc.). 
  • Who can apply? (cumulative conditions):
    • Regional priorities:
      • The budget available is divided between different regions of the world (i.e. Western Balkans, Neighbourhood East, South-Mediterranean countries, Sub-Saharan Africa, Latin America and Caribbean) and the size of each budgetary envelope is different.  
      • For more detailed information on the regional priorities set for this action, please check programme guide (pages 343-344)
    • The applicants (beneficiaries and affiliated entities) must
      • be legal entities (public or private bodies).
      • be active in the VET field or in the labour market;
    • Participating organisations can be, for example (non-exhaustive list):
      • VET providers
      • Companies, industry, other employers  or sector representative organisations
      • National/regional qualification authorities
      • Employment services
      • Research institutes
      • Innovation agencies
      • Regional development authorities
      • International organisations  
    • be established in one of the eligible countries, i.e. EU Member State, third country associated to the Programme, third country not associated to the Programme from an eligible region.
      • The eligible regions covered by this action are Regions 1, 2, 3, 9, 10 and 11 (please see Part A of the programme guide). Exception: organisations from Belarus (Region 2) and the Russian Federation (Region 4) are not eligible to participate in this action.
    • The coordinator must be an organisation active in the VET field. It applies on behalf of all participating organisations involved in the project. It cannot be an affiliated entity. Organisations from third countries not associated to the Programme cannot be coordinators. Other entities may participate in other consortium roles, such as associated partners. 
    • Consortium Composition
      • Proposals must be submitted by a consortium of at least 4 applicants (beneficiaries, not affiliated entities) from minimum 3 eligible countries:
        • at least 2 EU Member States or third countries associated to the Programme;
          • each of these participating countries must involve at least 1 organisation.
        • at least 1 eligible third country not associated to the Programme:
          • at least 2 organisations from the participating eligible third country/countries not associated to the Programme from the same region
          • Organisations from different eligible regions cannot participate in the same projects. Cross-regional projects are not eligible.
        • The consortium must include at least one VET provider at non-tertiary education level. The number of organisations from EU Member States and third countries associated to the Programme may not be higher than the number of organisations from eligible third countries not associated to the Programme. Affiliated entities and associated partners do not count for the consortium composition.  
  • How much funding will be available: 
    • Total call budget is estimated at EUR 25,250,170
    • Projects should normally last 12, 24 or 36 months (extensions are possible, if duly justified and through an amendment).
    • The EU grant per project will vary from a minimum of 100,000 EUR to a maximum of 400,000 EUR
    • The grant will be a lump sum grant. The amount will be fixed by the granting authority on the basis of the estimated project budget, evaluation result, and a funding rate of 80%. 
    • National Agencies or the Executive Agency may decide to split the first pre-financing payment into more installments. They may also decide to reduce the pre-financing or not pay any pre-financing at all, if the financial capacity of the beneficiary is deemed weak.
  • When?
    • Call opening: 30 November 2023
    • Deadline for submission: 29 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/erasmus-edu-2024-cb-vet?programmePeriod=2021%20-%202027&frameworkProgramme=43353764

4.7 ERASMUS-EDU-2024-PEX-EMJM-MOB Erasmus Mundus Joint Masters

  • What the funding can be used for? 
    • The EMJM supports high-level integrated transnational study programmes at Master level (level 7 of the international standard classification of education ISCED 2011) delivered by an international consortium of higher education institutions (HEIs) from different countries worldwide and, where relevant, other educational and/or non-educational partners with specific expertise and interest in the concerned study areas/professional domains.
    • The EMJM aims to enhance the attractiveness and excellence of European higher education in the world and attract talent to Europe, through a combination of:
      • institutional academic cooperation to showcase European excellence in higher education, and
      • individual mobility for all students taking part in the EMJM, with EU-funded scholarships for the best students applying
  • Who can apply? (cumulative conditions):
    • The applicants (beneficiaries and affiliated entities) must
      • be legal entities (public or private bodies).
      • be Higher Education Institutions (HEIs) established in one of the eligible countries, i.e.an EU Member State, third country associated to the Programme or an eligible third country not associated to the Programme. 
    • HEIs established in an EU Member State or third country associated to the Programme must be holders of the ECHE certificate (Erasmus Charter for Higher Education). 
    • The list of eligible countries for the additional funds for students from targeted regions of the world is the following: regions 1 (Western Balkans), 3 (South-Mediterranean countries), 5 (Asia), 6 (Central Asia), 7 (Middle East), 8 (Pacific), 9 (Sub-Saharan Africa), 10 (Latin America) and 11 (Caribbean) financed by the EU’s external action instruments. Exception: organisations from Belarus (Region 2) and the Russian Federation (Region 4) are not eligible to participate in this action. 
    • Consortium Composition
      • Proposals must be submitted by a consortium of at least 3 HEIs (beneficiaries; not affiliated entities) from 3 different countries, of which at least 2 different EU Member States and/or third countries associated to the Programme. 
  • How much funding will be available: 
    • Total call budget is estimated at EUR 150,100,000
    • The final grant will be calculated at final reporting stage on the basis of the number of scholarships awarded, the number of students enrolled and the actual number of unit costs allocated for individual needs, provided that the total amount does not exceed the maximum grant awarded. 
    • Projects should normally last 74 months (extensions are possible, if duly justified and through an amendment).
    • The EU grant per project is as follows: EUR 60 000.
    • The lump sum contribution will cover the costs directly linked to the activities necessary to set up the new Master programme, such as meetings and conferences, studies/surveys, accreditation/evaluation process, etc. The contribution can also be used to cover staff costs, travel and accommodation costs, administrative costs and subcontracted activities, in so far as relevant for the implementation of the Erasmus Mundus Design Measures. 
    • National Agencies or the Executive Agency may decide to split the first pre-financing payment into more installments. They may also decide to reduce the pre-financing or not pay any pre-financing at all, if the financial capacity of the beneficiary is deemed weak.
  • When?
    • Call opening: 05 December 2023
    • Deadline for submission: 15 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/erasmus-edu-2024-pex-emjm-mob


5. InvestEU Equity


Under InvestEU Equity, the (European Investment Fund)EIF will provide equity investments and co-investments to, or alongside, funds in the areas of venture capital, private equity and private credit, that pursue generalist, specialized or mixed investment strategies.

Deadline for applications: 30 June 2027

Who is it for?

Private equity, Venture capital funds, fund-of-funds, cross-over funds, (co-)investment schemes, special purpose vehicles in any form that undertake long term risk capital investments, excluding entities targeting buy-out (or replacement capital) intended for asset stripping.

In order to be considered for InvestEU Equity selection, all Financial intermediaries(funds, private equity, etc..), including the managers thereof, shall:

  • represent that they are not in any of the Exclusion Situations(check table in point 6 of this document)
  • not be established in a Non-Compliant Jurisdiction(check table in point 6 of this document) unless the operation is physically implemented there.
  • Not be subject to Restrictive Measures:
    • As part of its due diligence process, EIF will analyze and exclude any applicant if it or any of its ultimate beneficial owners/key persons are subject to UN/EU/OFAC/UK restrictive measures (sanctions) in relation to Russia as well as the non-government controlled territories of Ukraine.

Financial Intermediaries shall:

  • be established (domiciled) in a Member State or in an OCT
  • be managed by Independent Management Teams(check table in point 6 of this document), except in the following cases:
    • Where, due to the nature of the market, the domain investment expertise is concentrated within a few industry participants who act, or are otherwise linked with potential investors in a Financial Intermediary
    • In the scenario where a Financial Intermediary is investing in Technology Transfer.

What can be financed?

Investments supported by InvestEU Equity aim to:

  • Address market gaps and suboptimal investment situations in the EU policy priority areas,
  • Prioritise investments supporting the digital transition, climate action and environmental sustainability as well as investments increasing the European independence in strategic sectors
  • Contribute to post COVID recovery by diversifying the financing sources and strengthening the equity base of the European SMEs
  • Accelerating growth of European scale-ups accompanying and supporting them in accessing public markets
  • Increase the gender balance of the venture capital and private equity market operators and promote women entrepreneurship
  • Catalyse the emergence and consolidation of social enterprises and impact driven enterprises in their efforts to scale up and create a conducive environment for risk capital in the social impact investing space.

The most relevant Thematic Strategies, and their Target Areas, for EGDF members are:

Capital Markets Union

Promotes the development of capital markets and diversification of financing sources across Europe.

  • Growth and expansion funds:
      • Investments in growth or lower mid-market funds that provide equity and quasi equity financing, and support the continued growth of companies, including in order to finance increased production capacity, to finance market or product development, to provide additional working capital or to be used for a (total or partial) acquisition, in any case with a view to further grow the business.
  • Debt and hybrid equity-debt funds: 
    • The following typologies of funds fall within this Target Area:
      • Senior Private Credit Funds: credit funds, (i) investing, directly or indirectly, predominantly in the form of senior debt while also investing in non-distressed contractually subordinated debt or hybrid-debt equity and (ii) applying a portfolio diversification approach targeting 40 or more investments by the end of the (re-)investment period. See Annex V –Term Sheet for Senior Private Credit.
      • Selective Loan and Hybrid Debt-Equity Funds: funds providing onward lending in the form of non-distressed senior, subordinated, mezzanine or unitranche solutions, thereby widening the availability of non-bank financing to SMEs, and Small Mid-Caps.

Digital and Cultural & Creative Sectors

Investments that contribute to the strengthening of the EU’s competitiveness, digital independence and strategic autonomy, with a focus on data, communications technologies, services and products that facilitate the digital transition and address societal challenges:

  • Artificial Intelligence (AI) Digital systems
  • Blockchain and Distributed Ledger Technologies (BT/DLT) Technologies
  • Cybersecurity Activities
  • Quantum Computing Technologies
  • Cultural and Creative Sectors (CCS) Activities in the cultural and creative sectors, including the development and use of new technologies and tools for the management of intellectual property rights.
    • MediaInvest: audiovisual content production and distribution(for videogames industry, this includes also augmented / virtual reality experiences)
  • Education technology:
  • Other Digital
    • cloud computing and data platforms

Conditions of Financing

The EIF investment under InvestEU Equity into a Financial Intermediary shall generally represent:

  • at least 7.5% of the total commitments to such Financial Intermediary raised in the closing at which the InvestEU Investment occurs
  • no more than 25% of the total commitments of the Financial Intermediary . In particular circumstances the EIF commitment may exceed 25%.

In deciding the level of commitment, EIF will consider, among other things, the following factors:

  • adherence of the Financial Intermediary to the Gender Criteria(section 6)
  • whether the investment strategy of the Financial Intermediary focuses on one or more EU member states classified as Moderate or Emerging Innovator Countries (“MEICs”):
  • focus of the investment strategy of the Financial Intermediary on the Target Areas,
  • the experience of the management team and the closing in which EIF participates,
  • whether the investment strategy of the Financial Intermediary targets Technology Transfer or whether the Financial Intermediary is managed by business angels or aims to systematically co-invest with business angels.

Size of a “like-risk-like-reward” InvestEU Investment: >EUR 100M. In practice, the minimum fund size is EUR 15-20M(unofficial information).

Duration of an InvestEU Investment: Typically ranges between 5 and 20 years.

Investor base of a Financial Intermediary: As a general rule, at least 30% of total commitments to a Financial Intermediary shall be made by Third-Party Benchmark Investors(check table in point 6 of this document) in the same risk class as the EIF, or by the EIF or EIB on their own risk and from their own resources, provided that Third-Party Benchmark Investors account for at least 15% of total commitments.

Minimum Investment Allocation Requirements

  • Financial Intermediaries shall commit to invest a minimum amount into Eligible Final Recipients. Only Primary Investments and Eligible Secondary Investments shall be eligible for the purpose of calculating the Minimum Eligible Allocation. The Minimum Eligible Allocation shall be equal to at least the higher of:
    • 50% of the Financial Intermediary’s aggregate invested amounts, and
    • 2 times the amount drawn down from EIF under the InvestEU Investment for investment purposes, capped at 80% of the Financial Intermediary’s aggregate invested amounts.
  • Financial Intermediaries shall indicate at the time of application, which Target Areas are captured by their investment strategy, and shall be required to commit a minimum amount into such Target Area(s) (the “Minimum Target Allocation”).

The Minimum Target Allocation shall be equal to at least 2 times the amount drawn down by the Financial Intermediary under the InvestEU Investment for the purpose of investments in Eligible Final Recipients under the relevant Thematic Strategy (or any Target Area part of it), capped at 80% of the Financial Intermediary’s aggregate invested amounts.

Final Recipients Eligibility Requirements:

  • are located or established and operating in a Member State or an OCT
  • are SMEs or Small Mid-Caps or Large Mid-Caps
  • are active in any of the Thematic Strategies (mentioned above). Large Mid-Caps are not considered Eligible Final Recipients for the Capital Markets Union Thematic Strategy.

Excluded Final Recipients:

Other requirements may apply: check point 5 of this document

The above-cited conditions apply generally to the InvestEu equity product, however, there are scenarios where conditions may be slightly altered:

  • Look here for more info on ESCALAR investment
  • Look here for more info on pre, peri, or post-IPO investment
  • Look here for more info on Senior Private Credit Fund Investment

For more information check:

Open Call for Expression of Interest

Term Sheet (Definitions)


6. CERV


CERV-2024-GE Call for proposals to promote gender equality

  • What the funding can be used for? 
    • Tackling the root causes of the gender care gap by promoting a gendertransformative approach and challenging gender stereotypes (the first priority). Indicative budget: 4 EUR million.
      • The aim of this priority is to support:
        • Design of new approaches to encourage a dual earner dual carer model and to tackle gender stereotypes;
        • Capacity building and training, including of human resource managers, representatives of public authorities, social partners and other concerned stakeholders including from civil society organisations;
        • Mutual learning, exchange of good practices, cooperation between different actors;
        • Dissemination of information and awareness raising, including via social media or press campaigns
    • Supporting the implementation of the provisions of the Pay Transparency Directive (the second priority). Indicative budget: 6,1 EUR million 
      • Development of guidance, tools, and checklists for the assessment and comparison of equal pay for equal work or work of equal value within the same employer, including the implementation of gender-neutral job evaluation and classification systems, for the use of public and private employers and more generally social partners in the context of collective bargaining;
      • Development and conduct of training programmes to build capacity of employers and social partners in assessing equal pay for equal work or work of equal value and implement gender-neutral job evaluation and classification systems;
      • Promotion of gender-neutral job evaluation and classification systems;
      • Monitoring implementation of the concept of work of equal value via the assessment of existing job evaluation systems and pay classification schemes by employers and those used by social partners and recommendation for amendment when necessary to comply with equal pay principle and gender-neutral criteria.
  • Who can apply? (cumulative conditions):
    • Member State governments, local and regional authorities and their associations, social partners (workers or business representatives), labour inspectorates, equality bodies, civil society organisations, in particular women’s rights organisations (games industry diversity organisations i.e. Women in Games Association or We in Games), and other stakeholders (games industry trade associations)
    • To be eligible under the first priority:
      • The applicants (beneficiaries and affiliated entities) must:
        • be legal entities (public or private bodies);
        • be international organisation or be established in one of the eligible countries, i.e.:
          • EU Member States (including overseas countries and territories (OCTs))
          • non-EU countries:
            • countries associated to the CERV Programme or countries which are in ongoing negotiations for an association agreement and where the agreement enters into force before grant signature (list of participating countries)
      • Organisations which are profit-oriented may apply only in partnership with public entities or private non-profit organisations; 
      • The application must involve at least two applicants (lead applicant and at least one co-applicant not being affiliated entity or associated partner).
    • To be eligible under the second priority:
      • Lead applicants must be EU national authorities responsible for implementation of the provisions of the Pay Transparency Directive (e.g. responsible Ministry or national agency); with only one application per Member State being accepted;
      • Co-applicants (if any) must be international organisation or public entities or private organisations, formally established in one of the eligible countries, i.e.:
        • EU Member States (including overseas countries and territories (OCTs))
        • non-EU countries:
          • countries associated to the CERV Programme or countries which are in ongoing negotiations for an association agreement and where the agreement enters into force before grant signature (list of participating countries
        • The application may involve one or more organisations (lead applicant and co-applicants). 
    • Consortium composition
      • Under the first priority, proposals must be submitted by a consortium of at least two applicants (beneficiaries; not affiliated entities), which complies with the following conditions: the beneficiaries must be public entities or private organisations, duly established in one of the eligible countries, or an international organisation. Organisations which are profit-oriented must submit applications in partnership with public entities or private non-profit organisations.
      • Under the second priority, applications by single applicants are allowed (single beneficiaries); affiliated entities and other participants are allowed, if needed. Lead applicants must be EU national authorities responsible for implementation of the provision of the Pay Transparency Directive (e.g. responsible Ministries or national agency); co-applicants (if any) must be international organisation or public entities or private organisations, formally established in one of the eligible countries.
      • Projects should normally range between 12 and 24 months. Extensions are possible, if duly justified and through an amendment.
      • The EU grant applied for cannot be lower than EUR 100 000; 
  • How much funding will be available: 
    • Total call budget is estimated at EUR 10.100.000
    • The grant will be a lump sum grant. The amount will be fixed by the granting authority on the basis of the estimated project budget and a funding rate of 90%
    • Under the first and second priorities, the maximum EU grant is EUR 100 000; 
    • Under the first and second priorities, the maximum duration of the action is 24 months
    • Pre-financing rate is normally 80% of the maximum grant amount
  • When?
    • Call opening: 21 December 2023
    • Deadline for submission: 29 February 2024 17:00:00 Brussels time

For more information please visit: https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/cerv-2024-ge