EIT InnoEnergy has unveiled a one-stop shop to assist start-ups and small to medium-sized enterprises (SMEs) in accessing EU public funding within the battery value chain.
Thore Sekkenes, EBA programme director at InnoEnergy, stressed the importance of EU public funding as a “quality seal” for private investors, crucial for driving growth in sectors like batteries. He noted the challenges faced by newcomers in navigating the “lengthy and complex” application processes.
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Developed in collaboration with European Commission Vice President Maroš Šefčovič, leader of the European Battery Alliance (EBA), the initiative aims to simplify access to funding opportunities across various segments of the battery industry.
In its initial phase, the service will focus on facilitating access to funding instruments such as the European Innovation Council’s Accelerator fund, the Innovation Fund, and advisory and venture debt instruments provided by institutions like the European Investment Bank and the European Bank for Reconstruction and Development.
Baptiste Buet, director of the EU business unit at EIT InnoEnergy, outlined plans to expand the programme to other sectors beyond batteries if the pilot phase proves successful.
While the service is free, applications will be assessed for suitability, with unsuccessful applicants encouraged to reapply. Successful candidates will receive guidance on navigating funding instruments, followed by an industry fitness check to ensure alignment with the battery value chain and eligibility for funding schemes.
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By GlobalDataThe platform aims to differentiate itself by focusing on the business case potential of projects, aligning with the broader finance strategy of companies. The support process is designed to expedite the funding process, with fitness checks intended to provide a pipeline of well-qualified projects to EU funding schemes.
EIT InnoEnergy, part of the European Institute of Innovation & Technology‘s network, is involved in connecting academia, industry, and investors to support the energy transition. While the new service does not directly involve investment opportunities, companies evaluated through the process may be recommended for further investment consideration within InnoEnergy’s portfolio.
Innovators can now apply for the one-stop-shop here.
