The Innovation Fund will focus on highly innovative technologies and big flagship projects with European added value that can bring about significant emission reductions.
The Innovation Fund aims to finance a varied project portfolio achieving an optimal balance of innovative technologies in all eligible sectors and across the Member States.
The projects need to be sufficiently mature from:
a technical perspective via a feasibility study
an economic perspective via a business model
a legal perspective
The Innovation Fund will also support cross-cutting projects on innovative low-carbon solutions that lead to emission reductions in multiple sectors, for example, through industrial symbiosis or business model innovation.
AMOUNT OF SUBSIDIES
The Innovation Fund will support up to 60% of the costs linked to innovation.
The subsidies may be complemented by any other funding (e.g. national), but more than 100% of overall funding is not allowed.
The grants will be disbursed flexibly based on project financing needs, considering the milestones achieved during the project lifetime.
Up to 40% of the grants can be given based on pre-defined milestones before the project is fully up and running.
40% of the total funding may be kept as soon as a financial close has been achieved, even if the project's performance doesn't meet the targets. The rest of the 60% must be paid back if the performance (CO2 reduction) is not as promised on a pro-rata basis.
The applicant submitting an expression of interest will be assessed on:
GHG emissions avoidance;
Degree of innovation;
Projects that have not yet reached the required maturity may be eligible for the EU’s Project Development Assistance (PDA).
WHAT ARE THE DIFFERENCES BETWEEN INNOVATION FUND AND HORIZON 2020?
Objective: Build and operate large-scale industrial assets with breakthrough technologies
Applicants: Single entity, i.e. national consortia is not required
Selection criteria: Technical, business and financial availability
Disbursement of the grant: Lump-sum payments upon milestones and performance (verified GHG emission avoidance)
Calls for the fund: Contents and conditions of calls can be adjusted annually
Objective: Research programme
Applicants: At least three legal entities from at least three member states
Selection criteria: Focus on research
Disbursement of the grant: Upon final report and approval of the eligible cost
Calls for the fund: Seven-year work programme
HOW CAN WE HELP?
An application for the Innovation Fund is a lengthy and intensive process that requires expertise regarding the rules laid down by the European Commission. To support the project partners in this, CLERENS offers expertise in EU Affairs and project management to ensure a swift application that complies with all the rules laid down by the European Commission.