Romanian cleantech and energy oriented SMEs invited to apply for funds from EIT InnoEnergy

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EIT InnoEnergy, Europe’s sustainable energy engine supported by the EIT, today announces the cut-off date for applications to its 2018 Investment Round for supporting revolutionary, cleantech and sustainable energy innovations. Innovators looking for investment before the end of the year must apply by 4 October to receive their support in time.

The Investment Round targets SMEs with proven technology concepts that will transform the future of energy in Europe. Since launching the Round in 2011, EIT InnoEnergy has invested €190 million in projects spanning eight technology areas across Europe – resulting in €3 billion of forecasted sales. These are: Clean Coal and Gas Technologies, Energy Storage, Smart and Efficient Buildings and Cities, Energy Efficiency, Energy from Chemical Fuels, Smart Electric Grid, Renewable Energies and Nuclear Instrumentation.

On top of funding, EIT InnoEnergy offers applicants a trusted and proven, collaborative innovation platform and access to an energy innovation ecosystem of more than 385 industry partners from across the mix of sustainable energy solutions.

In Romania, Craft Bicycle, the national winner of this year’s edition of PowerUp! energy start-ups dedicated international competition, is taken into consideration by EIT InnoEnergy for potential investments. Craft Bicycle start-up reinvents the biking industry by building bamboo bikes.

 InnoEnergy considers commercialization as a priority business need of small and medium enterprises when carrying out an innovation project. Besides, it is extremely important to shorten time to market, products internationalization, to scale business activity up and to get an access to de-risked, predictable financing. That is how the current needs of SMEs in the energy innovation sector look like”, says Marcin Lewenstein, Innovation Officer in InnoEnergy Central Europe.

Product commercialization
EIT InnoEnergy task is to identify and enable access to partners who help them define and provide them with access to their target group when launching a new solution. Using the support, it is possible to accelerate a moment of the products start.

Scaling up and industralization
Starting with a large-scale production is one of the phases that requires more investment. EIT InnoEnergy provides knowledge and help avoid common mistakes that might hinder the industrialization process.

De-risked, predictable financing
In general, projects financed by EIT InnoEnergy require a development in technology or prototypes, so the economic investment is high. Cooperation with EIT InnoEnergy enables quick funding activation and efficient process of innovative product implementation.

Jakub Miler, CEO of EIT InnoEnergy Central Europe says: “It is our mission to accelerate the clean energy transition in Europe. So, we are identifying, investing in and partnering with the very best and brightest innovators in the sector to help them scale-up, reduce their time to market and ultimately commercialise their technology.

And I mean true partnership. We go beyond the mere contribution of cash to help our partners grow. Not only do we provide access to Europe’s leading network of cleantech and sustainable energy expertise, but we provide sustained support through marketing and other value-building services.”

Businesses can find out more about the Investment Round, including how to apply, at https://investmentround.innoenergy.com/aplicationcriteria.