Navigation path

Left navigation

Additional tools

Tag ‘EIC Accelerator’

Coronavirus: EU grants €314 million to innovative companies to combat the virus and support recovery

Tags: , , , , ,

The original press release is available in the Commission Press Corner.

The European Commission has awarded nearly €166 million, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies to combat the coronavirus pandemic. In addition, over €148 million will be granted to another 36 companies to contribute to the recovery plan for Europe, bringing the total investment from Horizon 2020, the EU’s research and innovation programme, to €314 million in this round.

The selected 36 companies will work on pioneering projects, such as on expanding the production of bio-decontamination wipes, developing ventilation monitoring systems that provide first aiders with real-time feedback on the quality of the ventilation given to the patient, developing an antibody platform to treat severe cases of infection, and many more. Furthermore, 139 companies tackling the coronavirus that could not receive funding in this round due to budget limitations have received the newly introduced COVID-19 Seal of Excellence, in recognition of the value of their proposal and in order to help them attract support from other funding sources.

The additional 36 companies, set to support the recovery plan for Europe, will work across a multitude of sectors and projects, which include for example the development of stronger and taller wind turbine towers made from wood modules, with the potential to massively reduce wind energy costs, an organic fertiliser production system, and a blockchain-based solution for sustainable recycling practices of manufacturers. An additional 679 high quality proposals passed the EIC funding criteria and were awarded Seals of Excellence, but unfortunately could not be funded due to limited budget.

A record number of almost 4000 start-ups and small and medium businesses (SMEs) applied to the EIC Accelerator pilot in March, and over 1400 of the proposed innovations were relevant to the coronavirus outbreak. In light of this an extra €150 million was recently allocated to this funding round, bringing the combined total to over €314 million.

Check out other COVID-19 related news and updates here on the News Portal.

EIC funding for another 374 innovative companies

Tags: , , , , , , ,

83 top-class innovators selected for funding to reach the market faster under the European Innovation Council (EIC) pilot’s EIC Accelerator, previously known as SME Instrument Phase 2 and 291 companies will get funding under the Phase 1 of the programme. Companies under both phases will receive free coaching and business acceleration services to make the most of their funding.

Find out more about all the companies in the EASME datahub.

The European Innovation Council (EIC) pilot will support 83 small and medium-sized enterprises (SMEs) from 17 countries under the EIC Accelerator, previously known as SME Instrument Phase 2.

The total amount to be distributed between the SMEs working on 78 projects is € 148.7 million from the EU’s research and innovation programme, Horizon 2020. 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.

The projects selected include a new generation safe and environmentally-friendly light aircraft, an anti-bacterial textile for hospitals, a 3D audio software, motion planning technology for autonomous driving and a superbot for audio calls.

291 innovators selected for funding under EIC’s SME Instrument Phase1

The European Commission received 1765 proposals in total. Further to an evaluation on paper, 174 candidates pitched their innovations to a Jury of professional investors, entrepreneurs and business experts that evaluated the solidity of their project and selected the 78 innovations for funding.

Spanish SMEs were the most successful with 12 companies selected for funding. They were followed by 9 companies from Switzerland and 7 businesses from Ireland. Most selected companies are active in the field of health, ICT and engineering. 

A total of 291 small and medium-sized enterprises (SMEs) form 24 countries have been selected for funding under the latest round of the SME Instrument, in the so-called Phase 1 of the programme.

The companies will receive a total amount of €13.7 million to share between their projects to get their innovations faster on the market.

In this phase of the SME Instrument each project, 288 in total, will receive €50.000 to draft a business plan. Several companies can team up to propose one project. The companies will also get free coaching and business acceleration services.

Most companies selected for funding are in the field of information and communication technology (ICT), health and engineering. Most companies are based in Spain  with 42 companies selected for funding. THey were followed by 33 companies from Italy and 22 from Switzerland.

The European Commission received 2784 proposals for the 7 May cut-off. 

Read the original article on the EASME website.

  • Useful links

  • Tags

  • RSS Promoting Enterprise

    • SME Week Newsletter 2020: Issue #4 June 30, 2020
      Welcome to the June edition of the SME Week Newsletter. Over the past months, Promoting Enterprise has been working to bring you the latest COVID related policy updates, exciting developments from the EEPA 2020 competition and news from the world of SMEs. In this issue, we wanted to bring you something more and share stories, […]
      promotingenterprise
    • EEPA 2020 – Running a national competition with German coordinator Juliane Kummer June 26, 2020
      Today on Promoting Enterprise we are delighted to introduce one of the key players in the European Enterprise Promotion Awards (EEPA), a national coordinator! National coordinators are responsible for promoting and driving applications for the national EEPA competitions. They offer assistance to applicants, ensure that they understand what is expected of them and reach out […]
      promotingenterprise
    • Call for applications – Science is Wonderful! 2020 June 23, 2020
      Science is Wonderful! brings the world of science, research and innovation to the public. This year, the exhibition will take place fully online from 22 to 24 September as part of the second edition of the European Research and Innovation Days. Through an array of digital activities, researchers will interact with children, students and citizens,explain […]
      promotingenterprise
    • Acts of solidarity – How a Belgian seamstress started making masks June 18, 2020
      Today on Promoting Enterprise we are bringing you the first of our ‘COVID Stories’ which will look at how companies and people have been affected by the current pandemic and how they are adapting to their new business environments. Our first story focuses on Catherine Lorent, a Belgian micro SME owner who has used her […]
      promotingenterprise
    • European Commission consults Member States on proposal to expand State aid Temporary Framework June 16, 2020
      The original press release is available in the Commission Press Corner. On Friday 12 June, the European Commission sent Member States for consultation and comment a draft proposal to further extend the scope of the State aid Temporary Framework adopted on 19 March 2020 to support the economy in the context of the coronavirus outbreak. […]
      promotingenterprise
    • EEPA 2020 – Germany selects their national winners! June 11, 2020
      The EEPA competitions are going ahead as usual and national coordinators and juries are compiling their strongest national projects and making the difficult decision about who should compete at European level. This year in Germany, the expert jury selected their national EEPA winners via a video jury meeting, during which they assessed the 22 applications […]
      promotingenterprise
    • Coronavirus: EU grants €314 million to innovative companies to combat the virus and support recovery June 9, 2020
      The original press release is available in the Commission Press Corner. The European Commission has awarded nearly €166 million, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies to combat the coronavirus pandemic. In addition, over €148 million will be granted to another 36 companies to contribute to the recovery plan for Europe, […]
      promotingenterprise
    • What is the impact of winning an EEPA? June 4, 2020
      There is still time to submit an application for this year’s European Enterprise Promotion Awards (EEPA) and get involved in this celebration of enterprise! Check your national deadline here. The EEPA reward those who promote entrepreneurship and small business at the national, regional and local level through a variety of initiatives spanning six individual categories. Winning […]
      promotingenterprise
    • The SME Strategy June 2, 2020
      “SMEs are the backbone of Europe’s economy” is a statement that many of us have likely heard or come across in various European publications. But how is this essential backbone supported? What policy exists to ensure that our European SMEs are able to operate and thrive within our entrepreneurial ecosystems? One important part of the […]
      promotingenterprise
    • What is it like to win an EEPA? May 28, 2020
      Have you submitted your application for this year’s European Enterprise Promotion Awards (EEPA) yet? There is still time to take part! Check your national deadline here. The EEPA reward those who promote entrepreneurship and small business at the national, regional and local level through a variety of initiatives spanning six individual categories. Winning projects are chosen […]
      promotingenterprise