EIT Allocates Close to €78M to InnoEnergy

In 2020, the European Institute of Innovation & Technology (EIT) will invest EUR 500 million in its Knowledge and Innovation Communities across Europe – the EIT Governing Board decided.

This investment will drive European innovation in the areas of climate (EIT Climate-KIC), digitisation (EIT Digital), food (EIT Food), health (EIT Health), sustainable energy (EIT InnoEnergy), advanced and sustainable materials (EIT RawMaterials), manufacturing (EIT Manufacturing) and urban mobility (EIT Urban Mobility).

The European Innovation Hub for Sustainable Energy, EIT InnoEnergy has been awarded EUR 77.8 million funding.

To remind, EIT InnoEnergy is the third largest owner in Minesto after the main owners BGA Invest and Midroc New Technology.

In 2020, the EIT Community plans to power 1000 start-ups and scale-ups and launch more than 360 new products and services to contribute to Europe’s efforts of tackling global challenges.

It is foreseen that in 2020 alone, ventures supported by the EIT-Community will raise over EUR 400 million in external capital.

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