2822 small businesses seek funding under the SME Instrument

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2822 small businesses seek funding under the SME Instrument

The European Commission received 2822 proposals for the SME Instrument Phase 1 before the latest cut-off date on 13 February 2019. SMEs from 39 countries submitted proposals. Stay tuned – results will come out in late March 2019.

Under the first Phase of SME Instrument, small and medium-sized enterprises (SMEs) that seek funding can receive a lump sum funding of €50,000 to carry out a concept and feasibility study.

The biggest number of proposals for this batch were submitted by Spanish applicants (428), followed closely by Italian (384) and Swedish applicants (160).

The most popular areas of activity for applicants were ICT, health and engineering. Since 2018, the SME Instrument is part of the European Innovation Council (EIC) pilot. A novelty under the EIC pilot is that applications are fully bottom-up. Therefore as there are no longer set topics, proposals are classified according to keywords introduced by applicants. The top keywords introduced were, ICT, health and engineering and technology.

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