SME Instrument: EU to invest €8.9 million in 184 innovative businesses
184 small and medium-sized enterprises (SMEs) from 28 countries have been selected for funding in the latest round of the Horizon 2020 SME Instrument.
The funding is provided under Phase 1 of the instrument, which means that each project will receive €50,000 to finance feasibility studies for new products that can disrupt the market. They can also ask for up to three days of free business coaching
In this first round in 2017, the European Commission received 2111 proposals by the cut-off date of 15 February. The 184 SMEs selected for funding proposed 178 projects in total (multiple SMEs can be involved in one project).
Most of the projects funded were in the area of ICT (36). It was closely followed by low-carbon and efficient energy systems (31) and transport (28).
Since the launch of the programme on 1 January 2014, 2208 SMEs have been selected under Phase 1 of the SME Instrument.
The next cut-off for Phase 1 is 3 May 2017.