The Eco-innovation initiative is a part of the EU’s Competitiveness and Innovation Framework Programme (CIP).
The projects are selected through annual calls for proposals.
The grants may cover up to 50% of the eligible project costs. The money can be used to fund actions including equipment and infrastructure as well as materials, processes, techniques and methods linked with the innovative action.
The Eco-innovation initiative is for organisations that have developed an environmental product, service, management practice or process which needs to be transferred to the market.
The three main aspects of CIP Eco-innovation are:
1. Environmental benefits
2. Economic benefits (including wide replication)
3. Contribution of projects to innovation
The Eco-innovation 2012 will probably be available from May 2012 with a deadline in September 2012.
For more information see here.