What funding is available after the KIC is selected? Who decides how much start-up money is available? | European Institute of Innovation & Technology (EIT)

What funding is available after the KIC is selected? Who decides how much start-up money is available?

Answer: 

The Call focuses on selecting a partnership. The EIT’s budget for the 2014 to 2020 period is EUR 2.4 billion as set out in the Horizon 2020 Framework Programme for Research and Innovation. As stated in the Call text (page 7): “The EIT may award a grant of up to EUR 4 million to the two designated partnerships in order to support the efficient setting up of the two KICs. The designated partnerships, therefore, will have to submit their Start-up Plans in early 2017. The Start-up Plans will be evaluated by the EIT according to the following award criteria: relevance, efficiency and effectiveness of the Start-up Plan.”