Fast Track to Innovation results
By Ingemar Pongratz
The European Commission has recently presented the 15 project expected to receive funding from the latest (Second Round) Fast Track to Innovation call within the Horizon 2020 research and Innovation funding scheme.
In addition, the European Commission also presented some interesting statistics regarding the call. According to the Commission guidelines Fast Track to Innovation projects can obtain up to 3 million Eur funding for project which are very close to market. In this case the project is expected to develop products that are expected to reach the market in 36 month after the FTI project has been initiated.
FTI project are composed from 4 to maximum 5 partners, of which at least 50% of the partners must represent the industry sector and be preferably SME partners.
Fast Track to Innovation project are bottom up projects and the project can be from any sector, the main condition is that the project must be Close to Market and be able to deliver a new product to the market in maximum 36 months.
Fast Track to Innovation is a very competitive call, and in the 2 funding rounds close to 500 project proposal have been submitted to the European Commission for evaluation. Of these 500 projects only 31 project have been retained for negotiation and funding, giving an approximate success rate of around 6%. The partnerships of Fast Track to Innovation projects are very SME heavy with almost 50% of the partners funded in the FTI projects being SME partners.
This figure closely resembles the overall low success-rate of other Horizon 2020 funding instruments.
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