Commission to invest € 97 million to help 64 small businesses bring their innovations to the market

18/07/2017
64 small and medium-sized companies (SMEs) from 16 countries have been selected for funding in the latest round of the Horizon 2020 SME Instrument Phase 2.

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.

Source: ec.europa.eu

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