Start-ups urged to apply for EU funding to help combat coranavirus outbreak

The European Commission has issued an urgent call to start-ups and other small businesses with technologies that could help combat the coronavirus outbreak to apply for funding to turn their ideas into practical solutions.

Applications for the next round of funding for the European Innovation Council’s (EIC) € 164 million accelerator programme fund closes at 4pm Irish time on Wednesday.

The commission said it is willing to fast track the awarding of EIC grants and other financing options to innovations that can help with treating, testing and monitoring aspects of the coronavirus outbreak.

The EIC, which was first launched as a pilot in late 2017 as part of the Horizon 2020 programme, aims to support top-class innovators, entrepreneurs, small companies and researchers who have smart, but highly risky innovations that have the potential to scale up internationally. It offers grants and “blended” financing – grants and equity - to entrepreneurs.

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Last week, it was announced that two Irish companies- ProVerum and Rockfield - had received €4 million in funding under the latest round of the EIC's programme. In addition, six researchers, based in Trinity College Dublin (TCD), University College Dublin (UCD )and University College Cork (UCC), are to receive funds amounting to over €3 million for five pan-European research projects for which they are either the coordinator or a partner.