Innovators apply for funding from the EIT
Posted on 25 Jul 2020 and read 664 times
Almost 1,500 innovators from 44 countries have applied for the European Institute of Innovation & Technology’s (EIT) 60 million euro Crisis Response Initiative.
The funds, which have now been ‘unlocked’ by the EIT Governing Board, will allow ‘high impact’ start-ups, ‘scale-ups’ and SMEs to benefit from additional funding under the ‘Venture Support Instrument’ and be able launch new projects tackling Covid-19 related challenges as part of the ‘Pandemic Response Projects’.
Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, and responsible for the EIT, said: “This action of the EIT is part of the European Union’s (EU) comprehensive response to the Covid-19 crisis, including substantial support for innovation.
“I am glad to see the efficient mobilisation of all EU ‘instruments’ that we have at our disposal. Thanks to the EIT’s funding, hundreds of innovators and companies will be given the opportunity to participate in the collective effort to overcome this crisis and rebuild our economy sustainably.”
Dirk Jan van den Berg, chairman of the EIT Governing Board, added: “This is the EIT in action: agile mobilisation of Europe’s largest innovation community to deliver innovative solutions and a boost to Europe’s economy.
“With the EIT’s rapid response and an additional 60 million euros of funding, our Knowledge and Innovation Communities will now ensure high-impact ventures and ground-breaking projects help accelerate Europe’s recovery.
“The submission of almost 1,500 proposals highlights the depth of talent of innovators and the need for crisis recovery support in Europe and beyond.”
More details on the selected ventures and innovation projects to be financed will be announced in the coming weeks.