Coronavirus: European Institute of Innovation and Technology mobilises €60 million Crisis Response Initiative
As part of the European Union’s collective efforts to tackle the coronavirus crisis, the European Institute of Innovation and Technology (EIT) has launched the EIT Crisis Response Initiativesupporting innovative solutions for social and economic recovery. Through this initiative, the EIT makes available €60 million in additional funding to help innovators generate high-impact solutions that address the unprecedented challenges presented by the crisis. Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel, said: “In a time of crisis such as we are facing today we have to ensure that resources are targeted to deliver results expeditiously. We are ensuring financial support is increased and disbursed more quickly to those who are working on the most promising answers to the difficult questions COVID-19 poses. Thanks to the EIT Crisis Response Initiative, innovators in the EU will benefit from additional support helping them to overcome this unprecedented situation and continue delivering innovative solutions for Europe and its citizens.” The initiative will back short-term new innovation projects directly addressing the crisis (the Pandemic Response Projects strand), as well as provide support to high-impact start-ups, scale-ups and SMEs to accelerate their post-crisis growth and help the economic recovery (the Venture Support Instrumentstrand). More information is available in the EIT press release.