Our Magazine
Brussels Morning Online Newspaper
Tuesday, January 19, 2021
No Result
View All Result
  • Home
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • Culture and Society
Brussels Morning Online Newspaper
  • Home
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • Culture and Society
Brussels Morning Online Newspaper
No Result
View All Result
Home EU Institutions Commission

Commission announces first investment round in innovation

Nikola Kiš by Nikola Kiš
7 January 2021
in Commission
Commission announces first investment round in innovation

BRUSSELS, BELGIUM - AUG 9, 2020: Berlaymont building entrance. Berlaymont houses headquarters of European Commission.

Share on FacebookShare on Twitter

Brussels (Brussels Morning) Announcing the first round of investments through the EU Innovation Council (EIC) Fund, the EU Commission is to provide equity financing of about 178 million euro to 42 innovative small and medium-sized enterprises (SMEs) and start-ups. The aim is to help promote innovations in circular economy, health, advanced manufacturing and other areas.

Commissioner Gabriel’s comments

According to Mariya Gabriel, EU Commissioner for Innovation, Research, Culture, Education and Youth, “Europe has many innovative, talented start-ups, but too often these companies remain small or relocate elsewhere.” The new form of financing – combining grants and equity – “is unique to the European Innovation Council”, she says. The move should help bridge the funding gap for innovative companies, enable their growth in the EU and stimulate private investments.

The planned equity investments range from 500,000 euro to 15 million per beneficiary and complement the financing already provided through the EIC Accelerator Pilot. The move represents the Commission’s first direct equity investment in start-ups. Resultant ownership stakes are expected to range between 10 to 25%.

As part of the EIC Accelerator Pilot, 293 companies have been selected for grants worth more than 536 million euro since the end of 2019. Of these, 159 companies are to receive new equity investments as part of the new investment plan.

CorWave the first to finalise an agreement

The 42 companies selected for the EIC Fund equity investments were the first to pass evaluation, with the French CorWave medical device developer stressing it was the first to ink an investment agreement with the EIC Fund.CorWave is to receive 35 million euro in the fourth stage of start-up financing, which should enable the company to scale up its innovations. The Commission notes it is finalising investment agreements with other companies selected from the aerospace, pharmaceuticals and other sectors.

Tags: EU Commission (EC)innovationInvestmentMain-Slider
Nikola Kiš

Nikola Kiš

Nikola is Brussels Morning political affairs reporter, covering Germany, France, and Italy. Based in Zagreb, he is a translator with 18 years of experience reporting on political and business affairs.

Latest post

EU-funded project on new European building standards advances

EU-funded project on new European building standards advances

1 hour ago
Italy’s PM Conte survives first crucial confidence vote

Italy’s PM Conte survives first crucial confidence vote

1 hour ago

Most Read

  • Italy’s cannabis industry could rival the legal market in the US

    Italy’s cannabis industry could rival the legal market in the US

    0 shares
    Share 0 Tweet 0
  • Can Armenia and Azerbaijan win peace together?

    0 shares
    Share 0 Tweet 0
  • The West cannot meet Russia half way

    0 shares
    Share 0 Tweet 0
  • How Emiratis shape the European defense agenda

    0 shares
    Share 0 Tweet 0
  • How EU trade and investment deals can fight climate change

    0 shares
    Share 0 Tweet 0

Subscribe
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.