The total amount to be distributed between the SMEs working on 57 projects is € 96.815 million. In this phase of the SME instrument, each project will receive up to €2.5 million (€ 5 million for health projects) to finance innovation activities.
Spanish SMEs were the most successful with 12 companies selected for funding. This time they were followed by 8 companies from Denmark and 7 businesses from France and Italy. Most projects are in the field of transport (10 projects) and ICT (9 projects).
The European Commission received 1 514 project proposals by 1 June 2017, the third cut-off date for Phase 2 in 2017. Since the launch of the programme on 1st January 2014, 774 SMEs have been selected for funding under Phase 2.
Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching. Most projects are proposed by a single SME but some companies team-up to elaborate a project.
The next cut-off for Phase 2 is on 18 October 2017.