EIC pilot: €210 million awarded to 108 innovative projects to help them access the market faster
108 innovative projects have been selected for funding under the European Innovation Council (EIC) pilot in the latest funding round. Under the EIC Accelerator, 96 small companies from 20 countries get support to speed up the pace of their innovation with €177 million while under the FTI scheme, 14 innovative projects involving 56 partners in 19 countries get support to access the market faster with €33 million.
The total amount to be distributed to the projects under the EIC Accelerator and the Fast Track to Innovation strands of the EIC pilot is €210.2 million. Each project will receive between €0.5 and €3 million. With this funding and extra business acceleration support, innovative companies will be able to finance their close-to-market innovation activities and get on the market faster.
The EIC Accelerator and the Fast Track to Innovation are a central part of the European Innovation Council (EIC) pilot, targeting radically new, breakthrough products, services, processes or business models that open up new markets. Between 2018 and 2020, the EIC pilot will provide nearly €3 billion to breakthrough, market-creating innovations, under Horizon 2020 – the EU’s multi-annual Research and Innovation Programme. From now on, the EIC Accelerator (ex SME Instrument Phase 2) will offer optional equity investment in addition to a grant. Innovative companies can apply for a grant only or up to €17.5 million in-combined grant and equity financing to scale-up quickly and effectively. The grants available will be between € 0.5 and 2.5 million and equity investment can amount up to €15 million. The next cut-off date for EIC Accelerator (grant only and blended finance) and Fast Track to Innovation are respectively on 09 October 2019 and 22 October 2019.
Please find more information as well the list of selected projects here.
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