The EIT Awards 2018: Innovation funding for European ventures

The EIT Awards 2018: Innovation funding for European ventures

The European Institute of Innovation and Technology (EIT) Awards 2018 are a source of innovation funding for popular European ventures. The awards will fund start-ups, graduates, innovation teams and women from the EIT community by awarding their innovative European ventures.

The EIT said:'[Our mission is to]create an environment that allows entrepreneurship and innovation to flourish – both as a way of thinking and as an activity. To support this, the EIT organises annual awards to recognise and reward the successful start-ups, innovative projects and young entrepreneurial talent that Europe has to offer.’

Innovation funding for European ventures

The EIT Awards are funded by Horizon 2020, the financial element of the European Commission’s initiative to ensure the global competitiveness of European ventures.

The EIT added: ‘The EIT Awards promote innovation and encourage entrepreneurs by putting the most innovative ventures, entrepreneurial graduates, innovation teams and women from the EIT Community in the spotlight. They create role models for change.’

SciTech Europa has previously discussed the importance of commercialising European ventures with Professor Willem Jonker, the CEO of EIT Digital, who commented: ‘While it is important to develop new technology, it is also crucial for this technology to be made profitable by bringing it to the market, so that the innovations can continue to happen. As such, an emphasis on commercialisation at the European level continues to be fundamental.’

Types of award

There are several awards of innovation funding within the EIT Awards 2018.

The types of award are:

  • The EIT CHANGE Award is for EIT education programme graduates who spur innovation and entrepreneurship;
  • The EIT Innovators Award recognises teams from EIT’s Innovation Communities that develop sustainable products and services;
  • The EIT Venture Award recognises start-ups and scale-ups that have been supported by the EIT’s Innovation Communities; and
  • The EIT Woman Award recognises women entrepreneurs and leaders from EIT’s Innovation Communities.

EIT have released videos of the 2018 Award Nominees and the voting is still open until 3rd October 2018.

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