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.

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CALL: Innovation Fund

APPLICATION DEADLINE: Until 10 March 2021

ORGANISING ENTITY: European Commission

OBJETIVE

The Innovation Fund (IF) program is one of the most important global initiatives in financing for the development of innovative low-carbon technologies. IF focuses on truly innovative technologies and large flagship projects with European added value that can bring significant reductions in CO2 emissions. The aim is to share the risk with the project promoters to help them in the demonstration phase of highly innovative and unique projects (first-of-a-kind highly innovative Projects).

Successor to the NER 300 program (2012-2014) funded by the EU Emissions Trading System includes the following improvements:

Open to energy-intensive industry projects
Better distribution of project risks (higher subsidies)
A more flexible support, following the cash flow needs of the projects (up to 40% pre-payment of the grant).
Simplified governance and simplified decision making

BENEFICIARY

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

ELIGIBLE COSTS

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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