European startups share $7.2 million for product development



Europe’s “Horizon 2020” program has allocated the funds to 128 projects in transport, information technology, climate change, and clean energy.

Not all are social-impact focused, but those that are include: mobile healthcare for the critically ill; vegan leather; a European web browser for the E.U.’s strict privacy and security policies; and several senior-care/independent living projects, as well as bike projects for smart cities.

Each project receives a €50,000 ($56,000) feasibility grant, along with business strategy support.Viable — and marketable — ideas can apply for follow-on funding.

Horizon 2020 is an €80 billion initiative launched by the European Commission in 2014 to make Europe competitive with science, research, and tech innovation.

It has invested €20 billion in 11,000 projects, including €7.4 billion in 3,000 projects tackling social challenges.

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