European Institute of Innovation & Technology announces €890m funding round

Funding will boost European innovation in the areas of climate, digitisation, food, health , sustainable energy, advanced and sustainable materials, manufacturing and urban mobility

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Credit: Riccardo Annandale / CCO

The European Institute of Innovation & Technology (EIT) has announce €890 million investment in activities tackling global challenges across Europe, delivered by eight of its Knowledge and Innovation Communities (KICs).

The largest EIT funding round to date will boost European innovation in the areas of climate (EIT Climate-KIC), digitisation (EIT Digital), food (EIT Food), health (EIT Health), sustainable energy (EIT InnoEnergy), advanced and sustainable materials (EIT RawMaterials), manufacturing (EIT Manufacturing) and urban mobility (EIT Urban Mobility).

In addition, the EIT is awarding a €6 million start-up grant to its newest Knowledge and Innovation Community, EIT Culture & Creativity, set to become fully operational by the end of 2023.

The EIT is pioneering a new possibility under Horizon Europe, namely the allocation of multi-annual grants that will benefit the extensive network of EIT Community partners and collaborating organisations by providing more flexibility and stability for large scale multi-year innovation projects.

The first eight EIT Knowledge and Innovation Communities were evaluated against their strategies and business plans for 2023 to 2025, as well as their performance to date.

Based on this, the EIT Governing Board decided to allocate the following grants (in order of establishment in 2009, 2014, 2016, and 2018). For 2023 and 2024 €20.2 million will be allocated for EIT Climate-KIC; €30.6 million for EIT Digital; and €44 million for EIT InnoEnergy. For 2023, 2024 and 2025, €142.9 million will be allocated for EIT Health; €136.1 million for EIT Raw Materials; and €179.2 million for EIT Food; €107.3 million for EIT Manufacturing and €129.7 million for EIT Urban Mobility.

The latest funding allocation of €890 million will be invested to deliver on EIT’s three core pillars of activities, supporting innovators at every stage of their journey from: (1) entrepreneurial education programmes and courses across Europe that transform students into entrepreneurs, to (2) business creation and acceleration services that scale ideas and budding businesses to the next level, and (3) innovation driven research projects that turn ideas into products connecting partners, investors and expertise.

Out of the allocated funding awarded, 10-15% will be dedicated to delivering on the EIT Regional Innovation Scheme that effectively tackles Europe’s persistent innovation divide.

The latest funding investment also incorporates dedicated amounts to EIT Flagship programmes including, €32.9 million of funding to the EIT Higher Education Institution Initiative working to boost innovation in higher education.

Also included is €67.4 million for joint activities between Knowledge and Innovation Communities, as for example, the EIT Deep Tech Talent Initiative, set to skill one million workers, the EIT Community New European Bauhaus Activities building beautiful and sustainable living spaces and experiences together, or the EIT Girls Go Circular project committed to help young girls develop tech and entrepreneurship skills related to the green and digital transition.

Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, said: “The EIT’s record-breaking investment under Horizon Europe matches the importance innovation plays in advancing solutions to the pressing global challenges. And I am glad to see that the EIT Community, as Europe’s largest innovation ecosystem, is delivering on the New European Innovation Agenda, strengthening innovation networks, and driving Europe towards excellence and impact for the green and digital transitions.”

“I am proud that the EIT is now transitioning to multi-annual grants,” said Nektarios Tavernarakis, Chair of the EIT Governing Board, “and I would like to thank our entire community for their bold and creative programmes and services that will benefit entrepreneurs, innovators, and students across all of Europe over the next three years. The EIT model delivers, and this is evident in the rate of growth that the EIT and its partners have seen over this decade. We are committed to matching our growth with more impact for all Europeans, to live in a healthier, more equitable and brighter future and to push the boundaries of what’s possible in the coming years.”

TechCentral Reporters

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