141 highly innovative SMEs get funded under Phase 1 of the Horizon 2020 SME Instrument

141 small and medium-sized enterprises (SMEs) from 24 countries have been selected for funding in the latest round of Horizon 2020 SME Instrument, for Phase 1. For each project, the participants 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 business coaching.

 

The European Commission received 1873 proposals under Phase 1 by 17 September 2015, the third cut-off date for this year.

 

Italian SMEs were particularly successful with 30 beneficiaries accepted for funding, followed by firms from Spain (24) and the UK (15). Since the launch of the programme on 1st January 2014, 1099 SMEs have been selected under Phase 1 of the SME Instrument.

 

The results for the second phase of the SME Instrument, where companies get funding up to € 2.5 million to make their products ready for the market, will follow around mid-November 2015.

 

Credit: European Commission

Source and more information on the Horizon 2020 website of the European Commission.