Europe is distributing 307 million to 64 startups

The European Innovation Council (EIC) has distributed more than 307 million euros to 64 startups in the context of the new ‘Green Deal’. Winning companies are expected to deliver breakthrough solutions and technologies around transportation, space, the maritime sector, advanced materials and the internet of things.

The companies that receive support include two Belgian and two Dutch companies. Greater Than from Brussels uses big data and AI to make transport less polluting. B4Plastics from Maasmechelen conducts research into biodegradable plastics. Tusti from Eindhoven is involved in the recycling of plastic. Ranmarine Technology from Rotterdam builds autonomous drones that can remove waste from urban waters, harbor channels and deltas.

Companies have been selected from seventeen different EU Member States. More than a third of companies are led by women. That is three times more than in previous EIC programs. The EIC distributed both financial aid and participation aid, in the latter case it invested in the company’s capital. The Dutch and Belgian companies were only concerned with financial support.

The EIC is currently in a pilot phase where it has been allocated a budget of EUR 3.3 billion. From 2021, the Council will really start as part of the Horizon Europe multi-annual program. Horizon Europe is the successor to Horizon 2020.

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