EU Innovation Fund

European Commission Innovation Fund

Driving low-carbon technologies towards the market

Written by Ruth, July 16 2020

The European Commission’s new funding programme - The Innovation Fund - is designed to support Europe’s vision for becoming climate neutral by 2050 and, in particular, give much needed support to high TRL (Technology-Readiness-Level), capitally-intensive technology to grow from demonstration scale to commercial scale.

EU Innovation Fund

AIMS

Background

Building upon its predecessor, the NER300 programme, The Innovation Fund offers flexible support in line with project needs. For example, up to 40% of the grant could be awarded based on pre-defined milestones prior to the project being fully functional. Decision-making and governance structures have been streamlined, and projects from energy-intensive industries are welcomed. Risk-sharing for projects has also been improved, with grants covering up to 60% of operational costs and additional capital.

What will be financed by The Innovation Fund?

Selection Criteria

The main criteria against which the proposal will be assessed are:

~ Effectiveness of greenhouse gas emissions avoidance ~ Degree of innovation

~ Project maturity ~ Scalability

~ Cost efficiency

Application Process

For large-scale projects with capital expenditure above 7.5 million EUR, the application process is comprised of two stages:

How to apply

As can be seen, only 3 of the 5 selection criteria stated previously are used for the Expression of Interest phase to assess alignment with the call. For the full application, scalability and cost-efficiency are included in order to fully assess the business case and exploitation potential.

Timings for Large-Scale Project Applications

The Innovation Fund will also finance small-scale projects with total capital costs under 7.5 million EUR. Small-scale projects will benefit from a simplified, one-stage application process.

The European Commission Department for Climate Action (DG CLIMA) have produced a video to document their 2019 tour to present the Innovation Fund to European industries and Member States.

If you would like to apply to The Innovation Fund or would like to discuss your eligibility please do not hesitate to get in touch with us and we will help you to craft a strong and persuasive funding bid.