FAST TRACK TO INNOVATION REDUCES THE TIME FROM IDEA TO MARKET
Fast Track to Innovation is the only initiative in Horizon 2020 that is open to proposals in any area of technology or application. It promotes near-market innovation activities for mainly industrial consortia and finances the final steps in the development of an innovation, such as piloting, test beds, business model validation, standard setting…
The aim is to reduce the time from idea to market, to stimulate the participation of first-time applicants for EU research funds and to increase private sector investment in research and innovation.
These open-ended business grants are aimed at companies that have the ambition to grow, develop and internationalise through a business project with a European dimension. In this way, this programme supports beneficiaries in validating their innovative products, services or business processes that have the potential to revolutionise existing markets or create entirely new ones. The FTI programme promotes the development of innovation activities close to the market and led by industry by providing non-refundable subsidies, 70% of the budget to companies and 100% to technology centres or universities.
With a budget of 300 million euros, the programme aims to reward those innovation projects developed in collaboration with between three and five entities, with the participation of the industrial sector being obligatory to ensure rapid assimilation by the market. To this end, an allocation of at least 60% of the budget will be compulsory for industrial participants in the consortium.
FTI supports actions that undertake innovation from the demonstration stage to market absorption:
validation of systems in real world working conditions
validation of business models
It targets new technologies, concepts, processes and relatively mature and innovative business models that need final development in order to shape a new market and achieve wider deployment.
The eligible countries will be Member States of the European Union and partner countries of the Horizon 2020 programme.
Between 3 and 5 partners from at least three European countries with a minimum of 2 out of 3 or 3-4 industrial partners out of 5 partners At least 60% of the total project budget must be dedicated to industrial partners. Stakeholders who play an important role in marketing (clusters, end-users, industry associations, incubators, investors and the public sector) are encouraged to participate.
It is recommended to include start-ups with innovative ideas that can create new markets. Universities and research and technology organisations may also be involved.
TYPE AND AMOUNT OF FUNDS
70% for profit organisations // 100% for non-profit organisations
All costs directly related to activities such as testing, prototyping, validation, demonstration and testing under real conditions (TRL6 to TRL8).
The budget categories include, in addition to staff costs, travel, consumables, depreciation of equipment, contracting of services, indirect costs are included (calculated as 25% of the remaining costs, except subcontracting).
The non-refundable aid intensity will be 70% of the approved and justified budget. Non-profit making partners receive 100% of eligible costs.
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