257 small and medium-sized enterprises from 31 countries will be supported by the EU research and innovation programme, Horizon 2020, with €12.65 million to carry out their innovations faster in the market.
The SMEs have been picked in the latest round of the SME Instrument. Each company will obtain €50.000 to carry out a feasibility assessment plan. Besides, the selected companies will also get coaching and business acceleration services, that will help speed up the pace of the SMEs’ innovation.
Under the SME instrument, which is part of the recently launched European Innovation Council (EIC) pilot, enterprises can apply for two distinct phases, that depend on the state of their innovation. Under the phase 1 each project will receive €50,000 to prepare a feasibility study and, if selected, under the phase 2 each project will receive up to €2.5 million to support innovation plans.
The next application deadline for phase 1 is in May 2018.
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