The remaining 613 million will cover innovations without the requirement of a specific topic.
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The European Innovation Council has also managed to incentivize over 10 billion in follow-on private sector investments.
Add to that a 100-million support for the commercialization of ground-breaking ideas.
And we can expect the coming years funding to result in even greater push of the European tech industry.
But although 1.13 billion seems like a gargantuan amount of money, in reality, its not nearly enough.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
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