• H2020
• Policy & Research
• Knowledge & Innovation

The European Institute of Innovation and Technology has disclosed its financial support to the KICs in 2016.

Following a decision taken earlier this month at the EIT’s headquarters in Budapest, Hungary, the organisation behind the current five KICs will contribute a total of €275m to their operations next year. The first wave of KICs established in 2009 are obtaining 85% of the total EIT funding available, whilst the second wave of KICs created in 2014 will get 15% of the total financial allocation.

Climate KIC is set to receive nearly €81.2m, whilst KIC InnoEnergy will get around €77.5m and EIT Digital will receive €75m. Support funding from the EIT represents 60% of the financial contribution, whilst competitive funding signifies 40%.

Meanwhile, the two newest KICs, EIT Health and EIT Raw Materials, will obtain €20.7m and €20.5m respectively. Support funding is 90%, whilst competitive funding accounts for the remaining 10%.

The EIT has outlined assessment criteria for the determination of the competitive funding; the KICs will also benefit from funding from their various partners.

The EIT is funded by Horizon 2020 and full details of the body’s decision can be found here.