Zwipe selected by the European Commission for EUR 2.3 million grant

Thursday 13 December 2018 11:11 CET | News

Zwipe, a biometric technology company, has been awarded a EUR 2.3 million grant from the European Commission as part of Horizon 2020.

The grant will support Zwipe’s commercial go-to-market ability by funding its scale-up initiative Generation NxT” and will be paid out in tranches over the next 24 months. Horizon 2020 is the largest European Union (EU) Research and Innovation program with nearly EUR 80 billion of funding made available over a seven-year period from 2014 to 2020.

It aims to facilitate European breakthroughs, discoveries and world-firsts by taking ideas from the lab to the market by promoting European innovation and competitiveness on a global scale. More than 1850 companies across the European Economic Area applied for grants in this most recent application round, with only 3% of applicants receiving funding.

The grant will support Zwipe’s Generation NxT initiatives that include technological development, certification and commercialization of a proprietary application specific integrated circuit (ASIC) tailored for energy harvesting and power management, as well as efforts focused on cost reduction and supply-chain readiness to facilitate Zwipe’s scale-up and go-to-market capacity.

Zwipe’s biometric technology is currently being piloted by Banca Intesa Sanpaolo in Italy, the Bank of Cyprus and by 10 large banks in five different countries across the Middle East with several more banks planning to commence pilots in the coming weeks with support from the world’s largest payment schemes.

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Keywords: Zwipe, biometric, funding, Europe, fraud prevention, technology, innovation, Horizon 2020
Countries: World

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