The Innovation Fund is the predecessor of the NER 300 Programme, the funding programme for innovative low-carbon energy demonstration projects.

The Innovation Fund aims to create the right financial incentives for companies and public authorities to invest now in the next generation of low-carbon technologies and to give EU companies a first-mover advantage to become global technology leaders. To this end, the Commission announced an investment programme worth over €10 billion for low-carbon technologies in several sectors.

The first call for proposals under the Innovation Fund will be launched in 2020. It will be followed by regular calls until 2030.