The European Commission put out a call Friday, especially for startups and small businesses which are working towards developing technologies that possibly could help fight the COVID-19 outbreak, to apply for fast-track EU funding.
An Insight to the Proposal
The push is synced to a €164M box of money that’s being made available for Research and Development through the European Innovation Council (EIC), which is a European Union funding vehicle that helps the commercialization of high risk, high impact technologies.
Per the Commission, the funding does not contain any specific thematic priorities linked to it however, it said today it is going to look to “fast track the awarding of EIC grants and blended finance (combining grant and equity investment) to Coronavirus relevant innovations, as well as to facilitate access to other funding and investment sources.”
The deadline regarding this call for applications to the EIC Accelerator is 17:00 on March 18 CET.
The Commission has designed a page that has tips for applicants.
Supporting “Coronavirus relevant innovations”
It points out that EIC funding is already providing support to a number of startups and SMEs with “Coronavirus relevant innovations” using the funding awarded in previous rounds, indicating to the EpiShuttle project for specialized isolation units; the m-TAP project for filtration technology to remove viral material; and the MBENT project to track human mobility during epidemics.
The EIC itself gets the funding from the EU’s Horizon Europe research framework program.
Back in February, the Commission stated that it wished to sign off on a symbolic rise for the EIC budget as of this month to help “game-changing, market-creating innovation and deep-tech SMEs to scale-up”, as it works towards releasing the next seven-year round of the Horizon Europe program, in 2021.
It also claimed there would be a one-off EIC Accelerator call for ‘green deal’ start-ups and SMEs in May 2020 cut-off round, to sync-up with its push to make the bloc carbon neutral by 2050.
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