European Innovation Council (EIC) pilot will grant €33 million to help bring innovations faster to the market

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EIC grants

The European Commission has announced it will award €33.12 million in grants through the European Innovation Council (EIC) pilot to help bring top-class projects to market. The funding will support 13 projects selected through EIC’s Fast Track to Innovation programme, which backs up ground-breaking technologies, concepts and business models which are close to the market.

The range of selected projects includes recycling technology for rubber from old tires, a magnetic ink barcode reader for anti-counterfeiting purposes, windows that function as solar panels and a neuroprosthesis that allows amputees to feel sensory feedback from the prosthesis.

The projects involve 54 partners from 17 countries with partners from startups to large firms. Each project will receive around €2 million worth of funding to furthermore develop its technologies and bring them to the market.

The EIC pilot runs under the Horizon 2020 programme and supports top-class innovators, entrepreneurs, small companies and researchers with bright ideas and the ambition to scale-up internationally. It provides funding opportunities but also coaching and mentoring as well as networking services to SMEs. Since the pilot has showing to be successful, it will become a fully-fledged European Innovation Council in the forthcoming Horizon Europe programme.

For more information on the selected projects and the EIC, click here.