The European Commission (EC) has launched a Euro 35 million (US$50 million) fund that targets innovative environmental projects. The fund will operate under the EC’s Competitiveness and Innovation Programme.
Under the 2010 CIP Eco-innovation call for proposals, funds are available for new projects in the following categories: materials recycling, sustainable building products, food and drink sector and green business practices.
The call offers direct co-financing with grants that cover up to 50 percent of the total project cost. The €35 million funds available for the 2010 call are expected to bring to life between 45 and 50 new projects.
A significant focus of the fund will be on small businesses with green products or services that are in need of financial support to allow them to penetrate markets.
The deadline to submit proposals is Sept. 9, 2010. A total of 50 projects could end up being chosen for funding.
"This call for innovative projects is a tremendous opportunity for Europe's entrepreneurial talent to showcase new ideas to reduce our ecological footprint. The CIP Eco-Innovation program shows that helping the environment makes good business sense, with numerous products and services now demonstrating how competitive growth and environmental protection can go hand in hand," says Janez Potocnik, the EC’s Commissioner for the Environment.
The projects are selected on the basis of their innovative approach, market replication potential and the contribution to European environmental policies, especially in terms of resource efficiency. The EC notes that around 44 projects are currently running under the program, and another 45 are set to launch in the course of this year.
All relevant call documentation can be found at www.ec.europa.eu.