Source: Times of Malta
EIT InnoEnergy, Europe’s sustainable energy engine supported by the EIT, has announced the cut-off date for applications to its 2018 investment round for supporting revolutionary, cleantech and sustainable energy innovations. Maltese innovators looking for investment before the end of the year must apply by October 4 to receive their support in time.
The investment round targets SMEs with proven technology concepts that will transform the future of energy in Europe. Since launching the round in 2011, EIT InnoEnergy has invested €190 million in projects spanning eight technology areas across Europe – resulting in €3 billion of forecasted sales. Companies from France, Scandinavia and Benelux have already been successful in securing funds – and this could be Malta’s year for success.
On top of funding, EIT InnoEnergy offers applicants a trusted and proven collaborative innovation platform and access to an energy innovation ecosystem of more than 385 industry partners from across the mix of sustainable energy solutions.
“InnoEnergy considers commercialisation as a priority business need of small and medium enterprises when carrying out an innovation project,” said Marcin Lewenstein, innovation officer at InnoEnergy Central Europe. “Besides, it is extremely important to shorten time to market, products internationalisation, to scale business activity up and to get an access to de-risked, predictable financing. That is how the current needs of SMEs in the energy innovation sector look like.”
EIT InnoEnergy’s task is to identify and enable access to partners who help them define and provide them with access to their target group when launching a new solution. Using the support, it is possible to accelerate a moment of the products start.
Starting with a large-scale production is one of the phases that requires more investment. EIT InnoEnergy provides knowledge and help to avoid common mistakes that might hinder the industrialisation process.
In general, projects financed by EIT InnoEnergy require a development in technology or prototypes, so the economic investment is high. Cooperation with EIT InnoEnergy enables quick funding activation and efficient process of innovative product implementation.
Jakub Miler, CEO of EIT InnoEnergy Central Europe, said: “It is our mission to accelerate the clean energy transition in Europe. So we are identifying, investing in and partnering with the very best and brightest innovators in the sector to help them scale-up, reduce their time to market and ultimately commercialise their technology.
“And I mean true partnership. We go beyond the mere contribution of cash to help our partners grow. Not only do we provide access to Europe’s leading network of cleantech and sustainable energy expertise, but we provide sustained support through marketing and other value-building services.”