Article authored by the Director of X4 Technology, Andy Turton.
The European Commission have called upon start-ups and small businesses with technologies that could help treat, test and monitor the COVID-19 outbreak to apply for fast-track EU funding.
The European Innovation Centre (EIC) has made €164 million available for research and development – a European funding vehicle which supports the commercialisation of high risk, high impact technologies. The budget was proposed back in February by the EU’s Horizon Europe research framework program and signed-off in aid of supporting “game-changing, market-creating innovation and deep-tech SME’s to scale-up”.
The EIC has said it will consider the fast-track of EIC grants to coronavirus relevant innovations. EIC funding is already being used to support a number of start-ups and SME’s through funding awarded in previous rounds.