SolarGaps has become the first start-up in Ukraine to receive a EUR 1 million grant in equity free funding under the Horizon 2020 SME Instrument Phase 2, according to InVenture.
"SolarGaps became the first Ukrainian start-up which received SME Instrument Horizon 2020 Phase 2 grant since the interview stage in Brussels was introduced. The start-up secured EUR 1 million of equity free funding for commercialization of the world's first smart blinds with solar panels. Thereby, Ukrainian start-up SolarGaps got to top 5% of European innovative start-ups that succeed to get an SME Instrument Phase 2 grant," the report reads.
It notes that the SolarGaps team invented the world's first smart window blinds which generate solar energy. SolarGaps blinds allow everyone to produce green energy from the window surface, thus saving a great part of electricity bill and decreasing CO2 emissions. One square meter is enough to power three laptops or 30 led lamps. SolarGaps received EU certification and finished B2C product development. Their dealers will start sales in EU markets in a month. The team participated in IoT Hub Acceleration program in Ukraine and two of the largest acceleration programs in the United States: HAX Growth and Singularity University.
Ukrainian start-up SolarGaps earlier received EUR 50,000 funding from the European Commission as part of the Horizon 2020 SME Instrument Phase 1.
Startup SolarGaps produces "smart" shutters that generate solar energy - up to hundreds of kilowatts each month at a relatively low price of the gadget itself.
Horizon 2020, the EU's EUR 80 billion Research and Innovation Program, supports the strengthening of Europe's industrial base, and innovation to solve societal challenges.