Commission calls on innovators to combat coronavirus, sets aside €164 million in 'fast funding'

The European Commission is calling on innovators - whether they be startups or 'regular' SMEs - to apply for fast-track funding from the European Innovation Council Accelerator program in an effort to combat COVID-19.

At present, the Commission has set aside a budget of €164 million in what it refers to as a "bottom-up call" for companies to submit technological innovations that could help in treating, testing, monitoring or other aspects of the Coronavirus outbreak.

The deadline is Wednesday 18 March at 5PM CEST, so better hurry up if that means you - or spread the word in your local ecosystems and communities to make sure the awareness spreads in time for the tight deadline.

Important to note: there are no predefined thematic priorities and applicants with innovations related to COVID-19 will be evaluated in the same way as other applicants, the Commission promises.

The ultimate goal is to create or accelerate innovations to combat the coronavirus outbreak, whether through EIC grants or 'blended financing' (basically a mix of grants with equity funding, which the European Innovation Council has started experimenting with recently) or by facilitating access to alternative investment sources.

For more information on the European Commission's various activities in response to the virus outbreak, please go here.

Feature image credit: Gerd Altmann / Pixabay