The companies will also be entitled to benefit from up to 12 days of business coaching.
The European Commission received 962 proposals under Phase 2 by the second cut-off date of 2015 on 17 June. 357 received an evaluation score above the application threshold and 44 or 12.3%, amounting to total project costs of €93.7 million, have been selected for funding.
Spanish SMEs have once again been particularly successful with 11 beneficiaries on track to receive €15 million, closely followed by firms from Italy, the United Kingdom, Germany and Denmark.
Since the launch of the programme on 1 January 2014, 273 SMEs have been selected under Phase 2 of the SME Instrument sharing more than €387 million.