189 small and medium-sized enterprises (SMEs) from 26 countries have been selected for funding in the latest round of Horizon2020 SME Instrument, for Phase 1.
For each project, the participants will receive € 50,000 to finance feasibility studies for new products that can disrupt the market. They can also ask for up to three days of free business coaching.
The European Commission received 1995 proposals under Phase 1 by 24 February 2016, the first cut-off date for this year. The 189 SMEs that will receive funds proposed 174 projects in total (multiple SMEs can be involved in one project). The SMEs will receive €8.7 million in total for this cut-off.
British SMEs were particularly successful with 36 beneficiaries accepted for funding, followed by firms from Spain (34) and Italy (25). Most of the projects funded will be in the area of ICT, followed by transport and low-carbon energy systems.
Since the launch of the programme on 1 January 2014, 1473 SMEs have been selected under Phase 1 of the SME Instrument.
The next cut-off for Phase 1 is 3 May 2016.
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