€100m ‘Fast Track to Innovation’ scheme launched by The European Commission

The European Commission has unveiled a new €100m ‘Fast Track to Innovation’ pilot to provide grants for businesses and organisations to help get their ideas and innovations to market.

European Commission

Applications for the scheme will open in January 2015, and will offer a reward for technology breakthroughs that have high societal relevance, it will support a small consortia of three to five organisations with strong business participation to give promising ideas the last push before entering the market.

It is open to ideas in any area of technology or application and to any legal entity established in the EU or in a country associated with Horizon 2020.

“The Fast Track to Innovation and the new prizes will provide even more opportunities for innovators across Europe to get involved. With these measures we are contributing to increase Europe’s competitiveness and create growth and jobs,” said European Research, Innovation and Science Commissioner Máire Geoghegan-Quinn.

The contests for the five innovation prizes will start in late 2014 and early 2015. The prizes, worth €6m in 2015, cover three different thematic areas of research: health (‘Reduction of the Use of Antibiotics Prize’, ‘Food-Scanner Prize’), the environment (‘Reduction of Air Pollution Prize’) and ICT (‘Collaborative Sharing of Spectrum’, ‘Optical Transmission Prize’).