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RAPID ACCELERATION OF CLIMATE ENTREPRENEURS

Project description

Advancing climate technology innovation in Europe

With people around the world witnessing first-hand the impact of climate change on the planet, mitigation strategies are vital. With this in mind, the EU-funded RACE project will develop mechanisms and methodologies between the European Innovation Council (EIC) and the European Institute of Innovation and Technology (EIT) Climate-KIC, which is a Knowledge and Innovation Community (KIC), to accelerate the transition to a zero-carbon, climate-resilient society. These mechanisms will include a strategy for testing EIT Climate-KIC’s climate impact framework to predict the impact of newer innovations, as well as the strong support for innovations (considered as groundbreaking by the EIC Accelerator early-stage programme and the EIC Pathfinder programme). The project will also facilitate access to the EIC Accelerator to late-stage portfolio companies from the EIT Climate-KIC.

Objective

The pilot project aims to develop and test coordination mechanisms between the EIC and EIT Climate-KIC and their innovation communities, looking specifically at synergies and complementarity between the two organisations. The project will test three areas with specific objectives aiming particularly at creating synergies to align and improve our innovation portfolios towards the European Green Deal goals.
The first area of the proposal supporting EIC and 60 to 80 of its beneficiaries is focused on testing EIT Climate-KIC’s climate impact framework to forecast the climate impact of early-stage innovations and integrate a methodology for measuring systems transformation potential at a portfolio level, supporting a 1.5°C scenario.
The second area suggests support up to 25 EIC beneficiaries stemming out of the EIC Pathfinder programming and especially under Transition to Innovation, Innovation Launchpad and/or the EIC Accelerator Early Stage Programme. It will identify and support those with ground-breaking climate innovations as well as those who are committed to bringing new products and/or businesses to the market and improve their market uptake.
The third area of the project is looking to provide access to 10-15 EIT Climate-KIC’s later-stage portfolio companies to the EIC Accelerator, especially the newly created blended finance instrument. The goal of this work is to design an effective process to channel and fast-track EIT Climate-KIC qualified portfolio companies to EIC’s Accelerator instruments.
The results of the project will lead to recommendations to frame a future long-term collaboration framework between EIC and EIT Climate-KIC under Horizon Europe.

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Coordinator

CLIMATE-KIC HOLDING BV
Net EU contribution
€ 997 921,25
Address
Plantage middenlaan 45
1018 DC Amsterdam
Netherlands

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Region
West-Nederland Noord-Holland Groot-Amsterdam
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Other funding
€ 0,00