65 small and medium-sized companies (SMEs) from 18 countries have been selected in the latest round of Horizon2020 SME Instrument Phase 2. Each project, 56 in total, will receive up to € 2.5 million (€ 5 million for health projects) to finance innovation activities. The total amount to be distributed between the 65 SMEs is € 89.57 million.
Spanish SMEs were the most successful with 19 companies who will receive € 20.6 million in total. They are followed by 7 Italian SMEs who will share € 8.6 million and 6 German SMEs that will get € 7.7 million to share. Most projects are in the field of ICT with 12 proposals funded, followed by 9 in the field of transport and 7 in low carbon energy efficient systems.
The European Commission received 1167 project proposals 15 June 2016, the third cut-off date for Phase 2 in 2016. So far 529 SMEs have received funding under Phase 2 of the SME Instrument.
Thanks to the funding, the selected SMEs can finance innovation activities like demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies involved in the projects will also benefit from 12 days of business coaching.
The next cut-off for SME Instrument Phase 2 is 13 October 2016.
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