The European PropTech Association and Finnova are promoting the European Commissions’s Fast Track to innovation program, providing up to €3 million in funding per PropTech project for the best European PropTech startups and scale-ups!
Fast Track to Innovation provides funding for bottom-up proposals for close-to-market innovation activities in any area of technology or application. This thematic openness – combined with the possibility for all kinds of innovation actors to work together and deliver innovation into the market and/or into society – is set to nurture trans-disciplinary and cross-sectoral cooperation.
The objectives of this program are as follows:
- – To reduce time from idea to market
- – To stimulate the participation of first-time applicants to EU research and innovation funding
- – To increase private sector investment in research and innovation.
For which Proptech Companies?
Proposals for funding must be submitted by consortia comprising between three and five legal entities established in at least three different EU Member States or countries associated with Horizon 2020.
This industry involvement points to either the allocation of at least 60% of the budget to industry participants in the consortium, or the presence of a minimum number of two industry participants in a consortium of three or four partners, or of three industry participants in a consortium of five partners.
Deadline and Budget: UP TO €3 MILLION
The 2018-2020 program offers a total budget of €300 million and stems from the Horizon 2020 priority “Societal Challenges” and the specific objective “Leadership in Enabling and Industrial Technologies (LEITs)”. The funding level is fixed at 70% of the eligible costs. The maximum EU contribution per action amounts to €3 million. The expected maximum time-to-grant period for participants is set at six months at most. The call will remain open until October 27, 2020.
How to apply?
Proposals must be set up and submitted by a representative/contact person of the coordinating organisation. The proposal itself consists of two main parts:
Administrative forms (structured information of the basic administrative data, declarations of partners, organisations and contact persons, etc.).
Technical annex, which is the detailed description of the planned research and innovation project outlining work packages, costs, etc.
Actions are to be ‘business-driven’, as they are intended to give breakthrough innovation ideas the last push before their disruptive launch on the market. Substantial industry involvement in FTI actions is mandatory to ensure quick market take-up (‘quick’ meaning within a three-year period after the launch of the FTI-action).
For more information:
Cristina Tavío, Project Manager, FINNOVA & European PropTech Association
firstname.lastname@example.org | +32 492 41 53 39