Brussels, 24/07/2014 (Agence Europe) - On Thursday 24 July, the Commission announced the first wave of beneficiaries of its new SME instrument, launched under the Horizon 2020 framework programme, to help innovative small businesses to get their ideas from the lab to the market. In total, 155 SMEs from 21 countries - EU member states and countries associated with Horizon 2020 - will each receive €50,000 to fund feasibility studies to develop their innovation strategies. These SMEs will also be able to benefit from up to 3 days of business coaching.
Spanish SMEs were particularly successful in the first round, with 39 proposals selected, followed closely by SMEs from the UK and Italy, says the European executive. In total, 2,666 applications were made for the first grants. Successful applicants will be formally notified in August by the Executive Agency for SMEs (EASME), which manages the programme.
With a budget of €3 billion over seven years, the SME instrument of the Horizon 2020 programme offers fast and easy subsidies for innovation feasibility studies in SMEs (phase 1) and demonstrative projects (phase 2). Investment projects reaching maturity can in addition benefit from business development advice and other support services (phase 3).
Applications can be submitted at any time, but are evaluated four times a year. The results announced on Thursday relate to applications received by the first cut-off for phase 1 grants, 18 June 2014. The next cut-off dates for evaluation are 24 September for phase 1 and 9 October for phase 2.
654 projects will be funded in 2014 under phases 1 and 2, rising to 670 in 2015. (EH)