News25 April 2019Brussels, BelgiumResearch and Innovation
Promoting innovation: €33 million to help bring top-class projects to market
The European Commission will support 13 projects with a total of €33.12 million to bring innovations faster to the market. The funding comes from the pilot phase of the European Innovation Council (EIC), which targets fast-moving and high-risk innovation with strong potential to create new markets.
The 13 projects, involving 54 partners in 17 countries, will receive around €2 million each with this round of the Fast Track to Innovation (FTI) under the EIC.
The range of projects include recycling technology for rubber from old tyres, a magnetic ink barcode reader for anti-counterfeiting purposes, next generation photovoltaic windows, and a neuro-prosthesis that allows amputees to feel sensory feedback from the prosthesis.
Carlos Moedas, Commissioner for Research, Science and Innovation, said:
With the new European Innovation Council we support high-risk breakthrough innovation. Today we award support to a range of amazing projects that connect industrial partners, big corporates and innovative SMEs, creating new markets and jobs for European citizens.
The European Commission received 227 proposals by the cut-off date of 21 February 2019.
The Fast Track to Innovation is a bottom-up measure promoting innovative activities at the close-to-the-market stage under the European Innovation Council pilot. It supports mature innovative concepts that have already been tested. Supported activities include systems validation in real working conditions, testing and piloting, validation of business models and standard setting and pre-normative research.
On offer is a maximum EU contribution of €3 million per consortia comprising between three and five partners including a majority of industry participants.
The Fast Track to Innovation (FTI) is now part of the European Innovation Council (EIC) pilot, targeting radically new, breakthrough products, services, processes or business models that open up new markets. The programme has a total budget of €300 million until 2020 under Horizon 2020 – the EU’s multi-annual Research and Innovation Programme.