Money 24/06/2020
Handiscover Startup is Granted €1.6m In Funding From the European Union
European Union Funding is available to startups, projects and SMEs. Image credit: Fabian Blank, Unsplash
European Union Funding is an investment program for startups, projects and SME’s.
Another success story as promised by the European Union and its ambition to become the Silicon Valley Venture Capitalists (VC) of Europe when it comes to early stage funding, grants and investments.
“The online travel agency, Startup was granted €1.6M. Sebastian, Chief Executive Officer at Handiscover, says the company has further qualified for “blended funding,” meaning that in addition to the grant there will be an opportunity for an equity funding round with the European Investment Bank and professional investors.”
This is all part of the EU Funding plans to become the “go-to” VC funding source for startups, projects and small to medium enterprises (SMEs) who are looking to scale and expand operations within Europe. Funding is available through the European Innovation Council (EIC) Accelerator.
European Union Funding
“Knowing the current state of the travel industry and the challenge of raising money for any startup right now, securing this grant is testament to the unique and innovative services that Handiscover offers,” says Sebastian.
The company will use the capital to continue to further develop its product.
The EU Funding initiative provides grant-only support as well as support in the form of blended finance by combining grants from 500,000 up to €2.5 million and equity up to €15m.
The scheme supports projects, startups, small and medium-sized innovative enterprises willing to develop and commercialise new products, services and business models that could drive economic growth and shape new markets or disrupt existing ones in Europe and worldwide.
What are the new European Union Funding opportunities for startups and SMEs?
Watch this short video presentation for more information.
About Horizon 2020
Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available – in addition to the private investment that this money will attract.
It promises more breakthroughs, discoveries and world-firsts by taking great ideas from the lab to the market. Experts make their services available as part of the ongoing Horizon 2020 research and innovation programme.
About the EIC
The Enhanced EIC pilot supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally. It brings together the parts of Horizon 2020 that provide funding, advice and networking opportunities for those at cutting edge of innovation.
