Selected projects have been drawn from research teams, SMEs and spin outs, as well as small consortia
The European Innovation Council (EIC) has selected 42 projects to receive a share of €99 million in funding to move them into commercially viable ventures.
The selected projects were chosen from 292 submissions under the first ever EIC Transition call for proposals. The scheme is designed to turn research results generated by EIC Pathfinder pilot projects and European Research Council (ERC) Proof of Concept projects into business ventures, by validating the technologies in real world settings and building the business case to bring the innovations to market.
The successful applications have been drawn from 24 European Union Member States and Horizon Europe associated countries, and the selected projects come from research teams, SMEs and spin outs, as well as small consortia. It was also noted that 25 of the 42 projects selected had been supported by European Research Council (ERC) Funding.
Two projects from the UK are among those receiving a share of the funding. A project from Aston University: Predictive REagent-Antibody Replacement Technology stage 2-Translation, received just over €1.78 million, while a project from the University of Liverpool: Digital Discovery Platform for Organic Electronics Materials, received just over €2.15 million. One of the biggest awards, of just over €3 million, went to Helix Technologies Limited, based in Ireland, developing Intelligent DNA Data Storage.
As well as funding, the selected projects will have access to EIC Business Acceleration Services including coaching, mentoring and partnering events. Projects are also eligible for the Fast Track scheme to access the EIC Accelerator for supporting commercialization and scale up phases.
SCI will be showcasing and supporting budding entrepreneurs with innovative scientific ideas at the BrightSCIdea Challenge final 2022, which will take place on 15 March 2022.