Tag ‘Green projects’
The original article can be found on the EASME website.
The European Innovation Council Accelerator pilot supports innovation that creates the markets of tomorrow and therefore has its part to play in bringing the European Green Deal to life. Here’s how the EIC supports innovators that deliver a climate-neutral circular economy on the ground, in a few numbers.
The push towards a green economy has received new impetus under European Green Deal – the EU’s pledge to become the first climate-neutral continent in the world. This transition will largely be market-driven and will require many new technologies, processes, economic circuits to support the shift. From waste-sorting robots and more efficient production chains, to air-cleaning flower pots, cars that inhale their own fumes and smart energy devices, green innovations supported by the EIC Accelerator are making the transition towards a circular, low-carbon economy a reality.
Young green companies at the forefront
The EIC supports over 1.100 green companies for over € 550 million in total. This represents almost 25% of all EIC-supported companies. Since the latest EIC Accelerator cut-off, companies can get equity in addition to their grant. So far, 14 green companies were offered equity for a preliminary total of € 36 million that will be negotiated on a case by case basis.
Most green companies are young – almost half of them were founded between 2012 and 2017. A majority of 70% manufacture green technologies and products.
Green innovators have attracted around € 730 million private investment after receiving their grant, which means that every 1€ invested in green companies by the EIC leveraged 1.72 € of private investment.
Most of the private investments were made in the energy, food and enterprise software industries. Five companies started floating on the stock market, mostly on Nasdaq First North, and eight companies were acquired by bigger players.
Most of the funded companies are from Spain, Italy and the UK – as are most of the EIC-funded companies in general. However, most of the private investment rounds occurred in Germany, the UK and Croatia, which hosts a project that benefitted from a € 88 million investment in the clean tech electric car company Rimac Automobili by Huyndai and KIA.
More support expected
More opportunities will soon be available for companies that support the European Green Deal through breakthrough innovations.
A one-off EIC Accelerator call for ‘green deal’ start-ups and SMEs is expected, whereby all applicants submitting for the 19 May 2020 cut-off will need to demonstrate how their innovation contributes to the goals of the European Green Deal. The 7 October 2020 cut-off for the EIC Accelerator Pilot will remain open to all innovations.
An advanced version of the amended EIC Work Programme is due to be released by the end of February, and the final version by the end of March, replacing plans for the year ahead in the current EIC Pilot Work Programme 2018 – 2020.
Discover all green innovations supported by the EIC Accelerator pilot in our datahub.
The European Enterprise Promotion Awards (EEPA) are still open for nominations and entries, and this year with the re-instatement of the ‘Supporting the development of green markets and resource efficiency’ category, which was temporarily suspended in 2017, there are even more prizes to win!
So what is this category about?
The ‘Supporting the development of green markets and resource efficiency’ category is one of a total of six categories, and recognises initiatives that support SME access to green markets and help to improve their resource efficiency through, for example, green skills development and matchmaking, as well as funding.
Previous European winners of the category include:
- AMS – Thinking Ahead, Portugal (2014 Winner)
- Green Business Network, Spain (2015 Winner)
- Lime Trees & Honey Bees, Serbia (2016 Winner)
Watch the 2016 winning moment:
Find out about the 2016 nominees: