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05 Jul 2016

Latest SME Instrument results published

Out of the €86 million, €77.7 million will be given to 58 highly innovative SMEs from 16 countries under Phase 2 of the scheme – in which SMEs will further develop their submitted proposal in Phase 1 of the scheme through innovation activities. Each project, 48 in total, will receive between €0.5 and €2.5 million (€5 million for health projects) to bring their product from pilot-phase to the market. They can also ask for up to 12 days of free business coaching.

The European Commission received 961 proposals under Phase 2 by the cut-off date of 14 April 2016. UK companies were particularly successful in the call with 13 projects. They are closely followed by Spain (11), and Italy (9). Most of the projects funded will be in the area of ICT (9) and transport (9) followed by low-carbon energy systems (8). There is no Austrian project funded in this round.

Another 166 projects involving 178 SMEs from 28 countries have been selected in the latest round of  Phase 1 of the SME Instrument. Each project will receive €50,000 to finance feasibility studies for new products that can disrupt the market. They can also request up to three days of free business coaching. The SMEs will receive €8.3 million in total for this cut-off. The European Commission received 1975 proposals under Phase 1 for the 3 May 2016 cut-off.

In Phase 1 results Spain ranks first, with 32 projects selected for funding, followed by Britain (23) and Italy (22). Most projects will be funded in the area of ICT (30) followed by transport (22) and low-carbon energy systems (22). There are 4 Austrian successful companies in this round for Phase 1.

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