Fast Track to Innovation initiative is an instrument implemented by the Commission and managed by the Executive Agency for Small and Medium-sized Enterprises (EASME). This instrument aims to promote innovative ideas and technologies giving them the last push needed before their introduction to the market.
The European Commission is awarding 33,12 million euro to bring innovative ideas to market quicker. The 13 benefitting projects, involving 54 partners in 17 countries, will receive around 2 million euro each with this first round of the Fast Track to Innovation under the European Innovation Council.
The range of selected projects include a recycling technology for rubbers from old tyres, a magnetic ink barcode reader for anti-counterfeiting purposes, next generation photovoltaic windows, and a neuro-prosthesis that allows amputees to feel sensory feedback from the prosthesis.
The Fast Track to Innovation Initiative, which is part of the Horizon 2020 Framework Programme, is now at the heart of the European Innovation Council’s pilot project, which targets radically new and revolutionary products, services, processes or business models that open up new markets.