The European Innovation Council and SMEs Executive Agency (EISMEA) has launched a financial support initiative to give European Innovation Council (EIC) awardee companies financial support towards accessing specialised services.

Awardees are companies which have received a “seal of excellence” from the EIC, which said the cost of specialised services can often constitute a barrier for researchers and innovators as they are rarely covered or foreseen within its grant funding and their own resources are often scarce.

The EISMEA Coordination and Support Action (CSA) action will give project beneficiaries of EIC awardee companies, which can be a single legal entity or a consortium of legal entities, access to funding to allocate lump sum grants to EIC awardees to co-finance 50 per cent of the costs of services provided by EIC ecosystem partners.

The action means that EIC awardees will gain increased access to new partners and services with sector specific knowledge, expertise, equipment/R&I infrastructure, networks, or markets, said the organisation.

EIC awardees will also attain faster transition of innovations from lab to market and scale up of EIC companies, thereby increasing the chances for return on EIC investments, it continued.

Share Story: