EU SME Instrument: first 155 winners of grants announced
Brussels, 18.09.2014: The European Commission published a list of the 155 small and medium-sized enterprises (SMEs) that will be first to benefit from its new €3 billion SME Instrument. 155 SMEs from 21 countries will each receive €50,000 to finance feasibility studies for their projects, and they can also benefit from up to three days of business coaching. After that, their projects may be considered for further financial support from the Commission worth up to €2.5 million.
The SME instrument was launched under Horizon 2020, the EU's new €80 billion research funding programme, to help innovative small firms get innovative projects from the lab to the market. SMEs from EU Member States or countries associated to Horizon 2020 can apply.
Through the SME Instrument, the European Union wants to finance the most innovative small companies with a high growth potential. The Instrument is worth around €3 billion over seven years and offers fast and simple grants for business innovation feasibility studies (Phase 1) and demonstration projects (Phase 2). Investment-mature concepts can in addition benefit from business development advice and other support services (Phase 3).
The application process is easy but only the very best projects can expect to receive funding. Eligible topics are set out in the Horizon 2020 Work Programme on ‘Innovation in SMEs’.
For more information, please visit the link here.