At the beginning of this week, the European Commission specified the investments made in the context of the fight against Covid-19 and for the recovery of the economy. 166 million, through the European Innovation Council (EIC) Accelerator pilot project, has been granted to 36 companies to stem the coronavirus pandemic. In addition, more than €148 million will be granted to another 36 companies to contribute to the European Recovery Plan, bringing the total investment of the EU’s research and innovation programme Horizon 2020 to €314 million for the current round.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said:
“The huge reservoir of talent and revolutionary ideas that innovative European companies represent fills us with hope. Our increased support for the European Innovation Council will unlock their potential so that we can better fight against coronavirus and support our recovery. The IEC has responded quickly to the coronavirus crisis and highlighted the flexibility and impact of EU funding”.
The 36 selected companies that will contribute to the fight against coronavirus will work on pioneering projects such as increasing the production of bio-decontamination wipes, developing ventilators that provide front-line healthcare workers with real-time data on the quality of patient ventilation, setting up a platform for collecting antibodies to treat severe cases of infection, and many more.
In addition, 139 companies involved in the fight against coronavirus that could not receive funding in the current cycle due to budget limitations were awarded the new COVID-19 label of excellence as a token of the value of their innovations, to help them obtain support from other sources of funding.
A further 36 companies ready to support the European Recovery Plan will work in a multitude of sectors and on multiple projects, including the design of stronger and taller wind turbines made of wooden modules, capable of significantly reducing the cost of wind energy, an organic fertiliser production system, a solution based on block chain technology to ensure the sustainability of the recycling processes applied by manufacturers.
In addition, 679 other Seals of Excellence were awarded to high quality proposals that met the criteria for IRC funding but could not be funded because of budget limitations.
A record number of nearly 4,000 start-ups and small and medium-sized enterprises (SMEs) applied for funding under the CIS Accelerator pilot project in March, of which more than 1,400 proposed innovations useful in the fight against the coronavirus epidemic. 150 million has recently been allocated to the current funding round, bringing the cumulative total to over The start-ups and SMEs selected for support come from 16 countries, including 12 EU Member States, the UK and 3 associated countries.
Of the EUR 314 million granted under the CEI, EUR 174 million will take the form of equity investments. Since its launch in mid-2019, the CIS Accelerator Pilot Project offers the possibility of direct equity investments of up to €15 million, in addition to a grant of up to €2.5 million. More than 10,000 start-ups and SMEs have so far applied for funding for a total amount of more than €26 billion. Of the 72 companies that have received financing today, 46 are expected to receive equity.
Equity investments are subject to careful due diligence and will be managed by the future IRC Fund, which will actively seek co-investors. Companies supported by the IRC also benefit from a wide range of coaching, mentoring, advisory and business acceleration services. For the first time, these services will be offered to companies holding a COVID-19 label of excellence.
The IEC’s support for innovative ideas to combat the coronavirus is part of the joint efforts of Member States and the EU to overcome the crisis. On 4 May, the Commission organised a fundraising event for the Global Coronavirus Response, where €9.8 billion has been raised so far.
At the event, the Commission pledged €1.4 billion, including €1 billion from the Horizon 2020 programme to ensure the collaborative development and universal deployment of coronavirus diagnostic tests, treatments and vaccines. At the end of May, the Commission announced the next step in the Global Response to Coronavirus, namely the launch of a new campaign with the international citizens’ organisation Global Citizen, “Global Target: United for our Future”, which will culminate in a global donors’ summit on 27 June.
In addition, the Commission has recently presented its proposal for a major recovery plan for Europe. To ensure that the recovery is sustainable, seamless, inclusive and fair for all Member States, the Commission proposes to create a new instrument for recovery, Next Generation EU, as part of a strong, modern and revised long-term budget for the Union. As part of the Next Generation EU recovery instrument, an increase of €13.5 billion in the Horizon Europe programme is proposed to provide European support for research and innovation activities in the fields of health and climate, including breakthrough innovations from start-ups and SMEs.
Translated from UE : 314 millions d’euros à des entreprises innovantes contre le coronavirus et pour soutenir la relance
