The European Institute of Innovation and Technology (EIT) has awarded its Climate ‘Knowledge and Innovation Community’ (KIC) a grant of €20m to support its activities until the end of 2024.
The two-year grant will be used to strengthen the KIC’s successful implementation of a ‘Systems Innovation as a Service’ (SIaaS) approach, which will help accelerate the transition to a zero-carbon and resilient world.
Each EIT KIC is required to take steps to become financially independent from the Commission and this investment will help support this transition.
The EIT Climate-KIC’s Strategic Agenda identifies the following key outcomes for its work:
- Contribute to the avoidance of emitting over 500 million tonnes of CO2
- Strengthen the resilience of 10 million people
- Help leverage over €100 billion to support the scale-up of innovations that tackle climate change
- Generate 50,000 green jobs
- Become the strategic partner of choice for over 50 cities regions and countries across Europe
- Enhance the innovation and entrepreneurial skills of over 200 000 people across Europe, equipping them to be leaders of climate action.
Further details on how the KIC will achieve these outcomes is articulated in its 2023/24 business plan.