New funding supports climate entrepreneurs through the pandemic crisis
The Netherlands, 27 May 2020. Selected climate positive ventures will receive immediate support of up to €500,000 from EIT Climate-KIC as part of the European Union’s response to the pandemic crisis.
Kirsten Dunlop, CEO of EIT Climate-KIC says: “The impacts of the pandemic on the economy, businesses and workers calls for a strong coordinated economic response. Now is our chance to correct course. EIT Climate-KIC is therefore supporting the call for a European Green Recovery, which asks for a reboot of the economy.”
Beyond recovering from the crisis caused by the COVID-19 pandemic, it’s time to embark on a major transition for a climate resilient future. The EIT Climate-KIC community is calling on start-ups, scale-ups and SMEs to apply for funding with highly innovative solutions crucial to the economy’s fast and green recovery.
Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, responsible for the EIT says: “In a time of crisis such as what 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.”
This ‘Venture Funding’ offers a support package in 2020 to highly innovative climate impact ventures whose business has been impacted by the pandemic crisis. A parallel call – the ‘Extraordinary Post COVID-19 Regeneration Call 2020’ – has already been launched to support innovation projects. The initiative is part of the ‘EIT Crisis Response Initiative’ with €60 million additional funding mobilised by the European Institute of Innovation and Technology (EIT) to power innovations in health, climate change, digitisation, food, sustainable energy, urban mobility, manufacturing and raw materials.
Building back better
This year’s pandemic has brutally exposed the fragility of our existing systems. Like climate change, COVID-19 has acted as a threat multiplier applying pressure on socioeconomic systems. Investments made today will shape our future and our ability to react to other crises, they must therefore support the acceleration to a net-zero-carbon economy. Today, we have an opportunity to do so while rapidly delivering jobs and sustainable growth, improving quality of life for citizens, and building more resilient societies.
Anne-Sophie Garrigou, Media Relations at EIT Climate-KIC
About EIT Climate-KIC
EIT Climate-KIC is Europe’s leading Knowledge and Innovation Community (KIC) working to accelerate the transition to a zero-carbon economy. Headquartered in Amsterdam, it was established in 2010 and is funded by the European Institute of Innovation and Technology (EIT), a body of the European Union.
EIT Climate-KIC is active in 39 countries globally, and operates from 13 hubs across Europe, including regional offices in Bologna, Brussels, London, Warsaw, Paris and Berlin. Climate-KIC co-ordinates a network of more than 400 partners, including companies, universities and research institutions, cities and public authorities, and non-governmental organisations.
EIT Climate-KIC uses systems innovation to effect change in whole places and value chains. It runs programmes in entrepreneurship, education and research and in 2019 launched a programme of ‘deep demonstrations’ as a test bed environment for large-scale, orchestrated change.
EIT Climate-KIC has in recent years enabled more than 2000 climate-friendly business ideas to get off the ground. In the coming years, EIT Climate-KIC will offer a strong framework and community for implementing the European Green Deal by accelerating the transition not just of individual organisations, but of entire systems including cities, countries, regions and whole value chains.