Eight Irish Start-Ups and SMEs to benefit from over €31m in funding
Eight Irish Start-Ups and SMEs to benefit from over €31m in funding. Enterprise Ireland welcomes European Commission’s announcement of funding for Irish companies under the Horizon 2020 European Innovation Council (EIC) Accelerator Pilot.
On Monday 08 June 2020 the European Commission announced that 72 European start-ups and SMEs will be awarded €314m in funding to support the development of their innovations and the scaling of their companies. The budget for this call was increased by the Commission to ensure many Coronavirus relevant innovations were supported in addition to other thematic areas.
Eight Irish companies have secured over 10% of the funding allocated under this call and have been awarded grant and equity funding totaling over €31m. Among the successful applicants are seven Enterprise Ireland clients including; Kite Medical, OneProjects Design Innovation, Provizio, Remedy Biologics, Kastus Technologies, SiriusXT and Aquila Biosciences.
Ireland ranked second, jointly with France and Denmark after the Netherlands in terms of the number of companies awarded funding.
The EIC Accelerator pilot supports high risk, high potential SMEs and innovators to help them develop and bring onto the market new innovative products, services and business models that could drive economic growth. All grant and equity awards are subject to the completion of grant and investment agreements.
Speaking following today’s announcement, Garrett Murray, National Director for Horizon 2020 at Enterprise Ireland said: “Today’s announcement is a great success for Ireland and is testament to the research and innovation capability of Irish companies and the vibrancy of the Irish high potential start-up and commercialisation eco-system. This announcement provides significant funding to support these companies to bring their innovations to market and achieve their global ambition.
“To date Irish companies and researchers have been awarded in excess of €907m in funding under Horizon 2020. There continues to be many opportunities for Irish enterprises and researchers under the EIC and across the Horizon 2020 Programme, including calls for proposals under the European Green Deal, worth circa €1bn that will be issued in the autumn.”
In October, the EIC Accelerator call for applications will have a focus on female entrepreneurship where, should the first-round evaluation show that a minimum of 25 per cent of companies selected for the final-stage interviews are not led by women, additional interviews will be planned.
Following today’s announcement, Joan Fitzpatrick CEO of Kite Medical stated: “This funding from the European Commission will allow Kite Medical to further develop the KITE system for the detection of kidney reflux to progress into a clinical study. The funding will also support an additional six jobs at the company in technical, quality, regulatory, and clinical roles and establish our market launch strategy. The project outcomes will facilitate fund raising to support our commercialisation plan”.
Daniel Crowley, CEO and co-founder of Remedy Biologics added: “Remedy Bio’s unique advantage is in the discovery of immune biology to fight disease with unmatched precision in areas such as cancer, immune disorders, and infectious disease. We greatly welcome the EIC’s support for our programme to develop a long-term pandemic response platform to protect Europe from future pandemics, as well as enabling development of our advanced passive therapy for Covid-19″.
Enterprise Ireland encourages all Irish researchers and innovators to look at the remaining opportunities under the Programme and to contact their National Contact Points in Enterprise Ireland and across the Horizon 2020 national support network for information, guidance and expert support in evaluating opportunities and making applications.
For further information please contact: Brigid Burke, Press & Media Relations, Enterprise Ireland email@example.com, telephone: 087 1803995.
Click here to link to the EIC results. Click here to link to projects
About Horizon 2020
Horizon 2020 is the EU’s Framework Programme for Research and Innovation. It is one of seven flagship initiatives in Europe 2020, the European Union’s ten-year jobs and growth strategy. It has a budget of €75 billion and runs from 2014 to 2020. Horizon 2020 funding (i.e. grants) is awarded on a competitive basis to researchers and companies across three main pillars: Excellent Science, Leadership in Enabling and Industrial Technologies and Societal Challenges.
Enterprise Ireland leads the national support network for Horizon 2020, working to increase participation by Irish companies and academic institutions in the EU’s main instrument for funding research in Europe. Led by Enterprise Ireland, the national support network for Horizon 2020 has 9 member organisations; the Department of Agriculture, Food & the Marine, Enterprise Ireland, the Environmental Protection Agency, the Health Research Board, the Irish Research Council, the Irish Universities Association, the Marine Institute, the Sustainable Energy Authority of Ireland and Science Foundation Ireland.
For more information: visit www.horizon2020.ie
About the EIC Accelerator Pilot
The EIC Accelerator Pilot is part of the Enhanced European Innovation Council pilot (Enhanced EIC pilot). The Enhanced EIC Pilot will pave the way to a fully-fledged EIC; it builds on the lessons learnt from the previous EIC pilot launched in late 2017. The Enhanced EIC Pilot serves as the umbrella for several EU funding instruments: the EIC Pathfinder (FET-Open and FET-Proactive) the EIC Accelerator (former SME Instrument): the Fast Track to Innovation (FTI), and Horizon Prizes, thus providing a ‘one stop shop’ for funding of breakthrough, market-creating innovation across the EU.
The Enhanced EIC pilot funds high-potential, high-risk innovation developed by SMEs through the EIC Accelerator Pilot The EIC Accelerator Pilot offers Europe’s brightest and boldest entrepreneurs the chance to step forward and request funding for breakthrough ideas with the potential to create entirely new markets or revolutionise existing ones. The Enhanced EIC pilot features a pilot Accelerator. The EIC Accelerator pilot provides grant-only support (former SME Instrument) as well as support in the form of blended finance (combining grant and equity).
The EIC Accelerator supports high-risk, high-potential small and medium-sized innovative enterprises willing to develop and commercialise new products, services and business models that could drive economic growth and shape new markets or disrupt existing ones in Europe and worldwide. The EIC Accelerator pilot provides full-cycle business innovation support. The EIC Accelerator pilot also offers coaching and mentoring.