In the context of the Future Internet PPP
, the European Union provides participants (e.g. regional development agencies, SME associations, accelerators, company investment funds, etc.) with funding opportunities (100 million euros budget for up to 20 projects) to distribute within network of SMEs and Web entrepreneurs. At least 80% of the funding should be forwarded to innovative players such as SMEs, Web entrepreneurs, ICT developers, etc. through open calls. The funding to SMEs and Web entrepreneurs will be used to develop new applications and services on top of innovative technologies, thereby validating those technologies. Funding per SME or Web Entrepreneur will typically be in the order of 50,000 – 150,000 Euros.