79 innovative projects to funded under recent EIC pilot cut-off
The European Commission has published the results of the latest round of the SME Instrument (Phase 2) and Fast Track to Innovation strands of the European Innovation Council (EIC) pilot. In total 79 innovative projects will be funded and will receive €146.173 million.
65 small companies will be supported under the SME Instrument Phase 2. The companies were selected following face-to-face interviews with a jury of innovators, entrepreneurs and venture capitalists. The total amount to be distributed between the SMEs working on 64 projects is €110.073 million. In this phase each project will receive up to €2.5 million to finance innovation activities like demonstration, testing, piloting and scaling up. The companies will also benefit from 12 days of free business coaching and acceleration services. Italian SMEs were the most successful with 9 companies selected for funding. They were followed by 7 companies from Spain and 5 businesses from Denmark, Germany and France. 3 Austrian SMEs were successful.
Under the Fast Track to Innovation scheme, 15 innovative projects will receive around €2 million each within this round. The scheme is for relatively mature ground-breaking technologies, concepts and business models that are close to market. The participating SMEs also have access to free business coaching and acceleration services.