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EU invests €210 million to help bring #InnovativeEUProjects to market

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The European Commission will invest a total of €210 million to 108 innovative projects helping them to reach the market faster. The funding is provided through the pilot phase of the European Innovation Council (EIC), which supports innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally.

Research, Science and Innovation Commissioner Carlos Moedas said: “Each of the companies receiving funding through the European Innovation Council is offering a solution to a problem that affects the daily lives of Europeans, be it in the area of health, environment, energy and more. I am delighted to see that the European Innovation Council is already delivering on its promise of supporting innovators with the vision and ability of bringing about positive change in the world".

The selected projects include a hybrid simulation platform for neurosurgery, a technology replicating the rain process to supply sustainable drinking water, an anti-metastatic cancer vaccine, a technology to map air quality with high-spatial resolution and many more. They will receive funding under two strands (the EIC Accelerator and the Fast Track to Innovation) of the €3 billion pilot of the European Innovation Council, which runs from 2018 to 2020, under the EU research and innovation programme Horizon 2020. From now on, the EIC Accelerator will allow for optional equity investment in addition to a grant. Innovative companies can apply only for a grant or for up to €17.5 million in combined grant and equity financing to scale up quickly and effectively. More information is available here.

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