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European Innovation Council

Global competition is intensifying and Europe needs to deepen its innovation and risk-taking capability to compete on a market increasingly defined by new technologies. That is why the Juncker Commission is introducing a European Innovation Council (EIC) to turn Europe’s scientific discoveries into businesses that can scale up faster. Currently in its pilot phase, the European Innovation Council will become a full-fledged reality from 2021 under the next EU research and innovation programme, Horizon Europe (ex-H2020).

Over €2 billion of funding is available for 2019-2020: covering the innovation chain for “accelerator” funding to support startups and SMEs develop and scale up innovations to the stage where they can attract private investment. Under the accelerator funding companies will be able to access blended financing (grants and equity) of up to €15 million, which is well suited to SME that have a project of TRL 8.

The EIC Accelerator is aimed at SME that are looking to scale their high-risk innovation. For projects that will receive both a grant and equity, the EIC will negotiate with the SME about equity-financing terms. Adapted for SME that may not already have VC funding secured.

Contact AXSYSNAV, a company specialised in space applications and member of the EIC network, for further information on how we fund private projects (with a success rate close to 60% for obtaining a grant).

European Space Week in Marseille

European Space Week

Vieux Port, Marseille. Site of the European Space Week.

We are at the European Space Week, being held in Marseille from 3-6 December. Over 1000 delegates learning about the latest developments and business opportunities in GNSS and Copernicus.

Simon Chambers, MD of Axsysnav, is mentoring winners selected by the Copernicus Accelerator, for the third year running: “a great enabler to get your idea to market, this year there are many projects in the area of climate change, resource management, air quality monitoring and forest management”. The companies being mentored will benefit from one year’s coaching by dedicated European professionals.

The European Commission has estimated that between 2017 and 2035, Copernicus will generate at least €67 billion in benefits for European society. In economic terms, the sector has experienced an AGR of 17% on average between 2014 and 2017.

Contact us today for more details about how you can get involved in the Earth Observation industry!