1658 SMEs seeking financing under SME Instrument Phase 2
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The European Commission received 1658 proposals for the SME Instrument Phase 2 before the latest cut-off date of 23 May 2018. SMEs from a total of 38 countries submitted proposals.
In Phase 2 of the SME Instrument, each project will receive up to €2.5 million to finance innovation activities like demonstration, testing, piloting and scaling up. The companies will also benefit from 12 days of free business coaching and acceleration services.
The biggest number of proposals for this batch were submitted by Spanish applicants (261), followed closely by Italian (187) and British applicants (126).
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 Health, ICT and engineering and technology.
In addition, applications are evaluated in two steps, a remote evaluation and a face-to-face interview with a Jury of business and innovation experts. These interviews will concern around 135 companies, approximately half of which will get the funding. The interviews will happen in Brussels during the week of 25-29 June. For more information read the guidelines for applicants.
Final results are expected to be published on July 2018.
The next cut-off date for SME Instrument Phase 2 is 10 October 2018. Do you need professional assistance from TOP experts to maximise your winning chances? Contact us today, before our agenda gets fully booked.