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A cash fund is offering financial aid to start-ups and SMEs to mitigate the effects of the public health crisis.

An EU-funded low-carbon ‘knowledge community’ has made available emergency funding to get climate-friendly start-ups and small and medium-sized businesses through the Covid-19 crisis.

Businesses in the low-carbon sector which have been affected by the measures taken to combat the spread of the coronavirus in the EU are able to apply for relief funding of up to €500,000 to get them through the public health crisis.

The Climate-KIC public-private partnership includes the likes of universities, research institutes, private companies and non-profits working towards a low-carbon future. The organization has secured €60 million of extra funding from its backer, the EU’s European Institute of Innovation and Technology (EIT).

The EIT cash has been used to open two funding pots. With the already-launched Extraordinary Post-Covid-19 Regeneration Call 2020 fund specifically calling for low-carbon innovation projects, the parallel Venture Funding cash pot is intended to help businesses cope with the impact of the Covid crisis.