The Horizon Europe funding will be used to support various projects over the next three years and tackle some of the biggest global challenges.
The European Institute of Innovation & Technology (EIT) has announced its biggest funding round to date to help tackle challenges across Europe.
A total of €890m will be invested into research and innovation across areas such as climate, health, food and digitisation. It will be spread out across eight of the EIT’s specialised Knowledge and Innovation Communities (KICs).
It is also awarding a €6m start-up grant to its newest KIC focused on culture and creativity, which is set to become fully operational by the end of 2023.
EIT is an independent EU body set up in 2008 to deliver innovation across Europe, bringing together business, education and research organisations. In Ireland, it has backed innovations in areas such as health and urban mobility.
The fresh funding comes from Horizon Europe, the EU’s programme for research and innovation. It is a successor to Horizon 2020, with a €95.5bn budget for the period from 2021 until 2027.
EIT said Horizon Europe has allowed the new possibility of multi-annual grants, providing more flexibility and stability for large-scale innovation projects.
European commissioner Mariya Gabriel said the “record-breaking” investment matches the importance innovation plays in tackling global challenges.
“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,” Gabriel added.
Between 2023 and 2024, EIT’s KIC focused on sustainable energy projects will receive €44m, while its digital KIC will receive €30.6m and more than €20m is being allocated to climate projects.
Between 2023 and 2025, the institute’s food KIC is getting the biggest boost with more than €179m in funding, followed by health with €142.9m.
The EIT’s urban mobility and manufacturing KICs will receive €129.7m and €107.3m, respectively. The KIC focused on developing raw materials into a strength for Europe will receive €136.1m.
EIT governing board chair Nektarios Tavernarakis said he is proud of the transition to multi-annual grants and thanked the EIT community for their “bold and creative programmes and services”.
“The EIT model delivers, and this is evident in the rate of growth that the EIT and its partners have seen over this decade,” Tavernarakis said.
“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.”
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