€146 million for market-creating innovations

The European Innovation Council (EIC) supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally. The SME Instrument and Fast Track to Innovation are now strands of the EIC pilot.

The 64 projects are to receive €110 million under the SME Instrument Phase 2 to speed up the pace of their innovation. Each project will receive up to €2.5 million to finance innovation activities like demonstration, testing, piloting and scaling up. The next 15 projects get support to access the market faster with €36.1 million under the Fast Track to Innovation scheme.

Carlos Moedas, Commissioner for Research, Science and Innovation, said: “We support close-to-market projects, giving them a head start in the race to the market with a fast access to funding and business innovation support.

The selected projects include a novel anti-lock braking system for e-bikes, a technology that quickly contains oil spills in the sea, a detection tool for pre-symptomatic signs of Alzheimer’s disease and a scanner that detects bonds in welded material.

With EU support, high-tech companies are able to finance their close-to-market innovation activities and get on the market faster. MSC R&D has been helping businesses obtain EU funding for disruptive technologies for a quarter of century. To find out if your innovative idea is eligible for grants under SME Instrument or Fast Track to Innovation, contact the MSC R&D team today.