As Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, responsible for the EIT, stated, “In a time of crisis like the one we are experiencing today, we must ensure that resources are allocated to deliver immediate results. We are ensuring that financial support is increased and distributed more quickly to those working on the most promising answers to the difficult questions posed by COVID-19. Thanks to the EIT Crisis Response Initiative, EU innovators will benefit from additional support to overcome this unprecedented situation and continue delivering innovative solutions for Europe and its citizens.”.
Dirk Jan van den Berg, Chairman of the EIT Board of Trustees, added: “To win the battle against the disruption caused by COVID-19 in Europe, we must work together and mobilize all our resources. I have been impressed by the resilience shown by entrepreneurs, and the EIT Crisis Response Initiative will ensure they have the necessary financial support at this critical time. It will also help ensure that the recovery builds a more sustainable, green, and healthy future for our planet and its inhabitants.”.
The new EIT initiative includes two courses of action that will be implemented by the innovation and knowledge communities that the EIT has throughout Europe:
Business support instrument: Startups, scaling companies, and SMEs have been severely impacted by the COVID-19 crisis, which has led to a slowdown in investment and liquidity problems. Additional support from the EIT (funding, networks, and technical assistance) will help the most innovative companies weather the storm of the crisis and accelerate their growth. Pandemic
response projects: Now more than ever, innovation and new solutions are needed to address the current crisis and prevent its recurrence. The EIT ecosystem is agile and will mobilize innovators to address the impact of the COVID-19 crisis, both in terms of immediate health challenges and the broader responses that may be required.
The €60 million fund will boost innovation in the areas of health, climate change, digitalization, food, sustainable energy, urban mobility, industry, and raw materials. A reflection of the flexibility of the EIT's innovation model has been the determined response to the crisis by the eight EIT innovation and knowledge communities, which will launch additional pan-European calls for these activities in the coming weeks.
