#Coronavirus – EU grants €314 million to innovative companies to combat the virus and support recovery

The Commission has announced that it has awarded nearly €166 million, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies set to combat the coronavirus pandemic. In addition, over €148m will be granted to another 36 companies set to contribute to the recovery plan for Europe, bringing the total investment from Horizon 2020, the EU’s research and innovation programme, to €314m in this round.

Innovation, Research, Culture, Education and Youth Commissioner Mariya Gabriel said: “The enormous talent and breakthrough ideas of innovative European companies give us hope. Our increased support to the European Innovation Council will unlock their potential so that we can better tackle the coronavirus and support our recovery. The EIC responded quickly to the coronavirus crisis and demonstrated the agility and impact of EU funding.”

The selected 36 companies that will contribute to the fight against the coronavirus will work on pioneering projects, such as on expanding the production of bio-decontamination wipes, developing ventilation monitoring systems that provide first aiders with real-time feedback on the quality of the ventilation given to the patient, developing an antibody platform to treat severe cases of infection, and many more.

An additional 36 companies, set to support the recovery plan for Europe, will work across a multitude of sectors and projects, which include for example the development of stronger and taller wind turbine towers made from wood modules, with the potential to massively reduce wind energy costs, an organic fertilizer production system, and a blockchain-based solution for sustainable recycling practices of manufacturers. Furthermore, 818 companies that could not receive funding in this round due to budget limitations, have received the Seal of Excellence, in recognition of the value of their proposal and in order to help them attract support from other funding sources.

More information is available in this press release and the list of companies selected for funding is available here.

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