You are viewing 1 of 2 articles without an email address.


All our articles are free to read, but complete your details for free access to full site!

Already a Member?
Login Join us now

Innovation institute launches €60m crisis response initiative

The European Institute of Innovation and Technology aims to help finance projects that help tackle the coronavirus pandemic and support start-ups, scale-ups and SMEs for whom investment is drying up.

LinkedInTwitterFacebook
EIT says innovation and new solutions are needed more than ever at this time
EIT says innovation and new solutions are needed more than ever at this time

The European Institute of Innovation and Technology (EIT) is launching a €60m EIT Crisis Response Initiative to help finance innovation to tackle the coronavirus pandemic.

 

The EIT Crisis Response Initiative forms part of the EU’s collective efforts to tackle the crisis and hopes to encourage innovation in the area of health, climate change, digitisation, sustainable energy, urban mobility, food, manufacturing and raw materials.

 

Supporting start-ups and scale-ups

 

The new EIT initiative consists of two main tracks of activities to be implemented by the EIT’s Knowledge and Innovation Communities across Europe:

  • Venture Support Instrument: start-ups, scale-ups and SMEs have been enormously impacted by Covid-19, with investment drying up and significant cash flow issues emerging. Additional EIT support (financing, technical assistance and network) will help innovative ventures weather the crisis and accelerate their growth
  • Pandemic Response Projects: more than ever, innovations and new solutions are needed to tackle the current crisis and prevent its resurgence. The EIT ecosystem is agile and will mobilise innovators to address the Covid-19 crisis impact, both in terms of the immediate health concerns and the wider response needed.

“In a time of crisis such as we are facing today we have to ensure that resources are targeted to deliver results expeditiously,” said Mariya Gabriel, European commissioner for innovation, research, culture, education and youth, responsible for the EIT.

“In a time of crisis such as we are facing today we have to ensure that resources are targeted to deliver results expeditiously.”

“We are ensuring financial support is increased and disbursed more quickly to those who are working on the most promising answers to the difficult questions Covid-19 poses.

 

"Thanks to the EIT Crisis Response Initiative, innovators in the EU will benefit from additional support helping them to overcome this unprecedented situation and continue delivering innovative solutions for Europe and its citizens.”

 

All calls for innovators and entrepreneurs under the EIT Crisis Response Initiative will be launched by the EIT’s eight Knowledge and Innovation Communities. These will be published on their websites as well as the EIT website in this dedicated Covid-19 section and the Opportunities page.

 

You might also like:

LinkedInTwitterFacebook
Add New Comment
You must be a member if you wish to add a comment - why not join for free - it takes just 60 seconds!