As the most ambitious innovation initiative that Europe has ever undertaken, the European Union (EU) recently launched the European Innovation Council (EIC) with a €10 billion (about $11.7 billion USD) fund that will provide both non-dilutive grants to and direct equity investments in innovative startups within the union. After a successful three-year pilot, the EIC is merging with the current Executive Agency for Small and Medium-sized Enterprises, and has already launched its first official program with a call for proposals worth €1.5 billion (approximately $1.8 billion USD).

As U.S. research institutions face funding uncertainty, countries and universities worldwide are launching initiatives to lure away our scientific talent:

• Twelve EU countries signed a letter calling for dedicated funding and an immigration framework in the next EU budget. Individual countries are taking separate actions.
• Belgium’s Vrije Universiteit Brussel has allocated €2.5 million ($2.7 million) for 12 postdoctoral fellowships specifically targeting American researchers through its European Marie Skłodowska-Curie program.