Horizon 2020: Fast Track to Innovation
The Fast Track to Innovation program provides grants for projects that have European collaborations and want to enter the market.
What is the Fast Track to Innovation (FTI)?
The Fast Track to Innovation subsidy is for entrepreneurs who work together with foreign parties on an innovative process, product or service that needs acceleration. All participating parties must have a clear business-to-consumer or business-to-business case and be on the market within 3 years from the start of the project.
As part of Horizon 2020, the FTI grant is conditional on an FTI project contributing to the overall objectives of Horizon 2020. This may include strengthening the industrial leadership of European industry and/or contributing to solving societal tasks. Apart from this condition, there are no predetermined themes that a project must meet. This makes the Fast Track to Innovation programme more accessible, the European Commission hopes. The goal of the FTI is:
Reducing time in the process of bringing an idea to market
Stimulate participation of EU funding for innovation and research of new applicants
Increasing private sector investment in innovation and research
Closing dates FTI subsidy
A project proposal can be submitted to the 2020 Fast Track to Innovation program throughout the year. FTI is thus a continuous call, but three cut-off dates have been chosen.
All proposals submitted will be evaluated on these cut-off dates. Six months from the cut-off date is the time until the grant agreement is concluded, and thus the start of the project. The cut-off dates for 2020 have been set:
Fast Track to Innovation Budget
The European Commission has made €100 million available for 2020. The maximum subsidy per Fast Track to Innovation project is €3 million, but according to the European Commission, the average is €1 to €2 million. The entire budget will be divided over the approved projects of the three cut-off dates.
FTI grant conditions
European cooperation in the consortium/cooperation project is a requirement of the Fast Track to Innovation program. The consortium must include a minimum of 3 to a maximum of 5 partners from the EU Member States or associated countries. The majority, at least 60% of the participating partners, must come from the business sector, but partners from public organizations and knowledge-based institutions may also participate. The market launch must take place three years after the start of the FTI project. The power of uniqueness together with a strong business case has the most influence on the assessment of an application. The assessment of your FTI project application is determined on 3 points:
Impact – A strong business case with significant socio-economic value creation
Excellence – ‘Beyond the current state-of-the-art in its field
Implementation – The team’s potential to achieve goals
Apply for Fast Track to Innovation
Few FTI project proposals are selected for funding. In the period 2015-2016, there were 333 proposals at the closing date. Only 15/16 proposals were selected for funding per closing date, which is less than 5%. In order to be as sure as possible that you will receive funding from the Fast Track to Innovation program, it is wise to seek the help of an external consultancy firm. At MK we can help you complete the application, manage the administration of the project, and much more. Fill in our contact form below and get help from one of our 35 grant specialists.