EIC pilot allocates € 34 million for faster market entry of 14 projects
The European Commission (EC) has announced that it will support 14 top-class projects to finance their close-to-market innovation activities under the European Innovation Council (EIC) pilot. This means that each project will receive around €2 million from the Fast Track to Innovation strand of the EIC pilot, funded under Horizon 2020. The 14 projects funded involve 59 partners, including small and medium-sized companies, industrial partners, universities and non-profit organisations, from 18 countries.
The Fast Track to Innovation scheme is a central part of the EIC pilot, targeting radically new, breakthrough products, services, processes or business models that open up new markets. It offers up to €3 million to consortia composed of 3 to 5 partners including small and medium-sized enterprises (SMEs), industrial participants, research centers, universities, cluster organisations, industry associations, incubators, investors, and the public sector. The scheme is for relatively mature groundbreaking technologies, concepts and business models that are close to market. The participants also have access to free business coaching and acceleration services.
For more information: