EU funds commercialization of eco-innovation

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Posted on: 12 May 2012

The European Commission is providing new funding to bring innovative green products, processes or services to market. The funding is targeted at SMEs.

12 May 2012 New EU funding to bring eco-innovation to market The European Commission is providing new funding to bring novel environmental solutions to market. The EUR34.8 million call is targeted particularly at small and medium size enterprises (SMEs) that have developed an innovative green product, process or service, which is struggling to find its place in the market. Eco-innovation program has, for instance, funded an automatic system that sorts post consumer textiles and clothes materials on fiber composition and on color. Photo: T4T The call has five main priority areas: materials recycling, water, sustainable building products, green business, and the food and drink sector. The call is open for applications until 6 September 2012 and it offers co-funding to cover up to 50 percent of the project cost. Around 50 projects will be selected for funding. Applying for eco-innovation funding is a competitive process, and only the best project proposals will be selected for funding. Eco-Innovation is funded via the Competitiveness and Innovation Programme (CIP) and has a budget of approximately EUR200 million for 2008 to 2013. "For the past four years, CIP Eco-Innovation has helped more than one hundred innovative green products reach the marketplace," said Janez Potocnik, European Commissioner for the Environment. "The program shows how businesses can help our economies to grow in an environmentally sustainable way, once they have the right support." "I would particularly encourage SMEs to apply for funding - they have a vital role to play in driving forward the EU economy, and last year they made up more than 65 percent of applications." Some 50 projects are now set to launch from last year's call, and over 140 projects are already underway. Examples of current schemes include converting old discarded TVs into tiles, new waste sorting mechanisms, innovative eco-packaging for milk, and a new technique for recycling textiles. Eco-Innovation is a green strand of the CIP and contributes to the Eco-Innovation Action Plan (EcoAP). The program is managed by the Executive Agency for Competitiveness and Innovation (EACI). Sources: EU News CIP Ecoinnovation European Info Day 2012 Related: EU assists small companies to go international EU small companies on track to turn green EU sets eco-innovation plan for green growth
Posted: 12 May 2012

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