• H2020
• Industrial Leadership
• ICT

The European Commission has set aside €9.1m to invest in 189 small and medium-sized enterprises (SMEs) from 24 countries.

The SMEs have been selected for funding in the latest round of the Horizon2020 SME Instrument, and the funding is provided under Phase 1, meaning that each project will receive €50,000 to finance feasibility studies for new products that can disrupt the market. The SMEs can also apply for up to three days of free business coaching.

Of the 189 SMEs that will receive funds proposed 182 projects (multiple SMEs can be involved in one project) Italian SMEs have been particularly successful with 34 companies accepted, followed by counterparts from Spain (30) and the United Kingdom (18).

Most of the projects funded will be in the area of ICT (29), followed by transport and low-carbon energy systems (both 24).

For the third cut-off of the SME Instrument Phase 1 this year, the Executive Agency for SMEs (EASME) received 1,938 project proposals from 40 countries. Since the launch of the programme on 1 January 2014, 1,840 SMEs have been selected under Phase 1 of the SME Instrument.

As part of Horizon 2020, the European Commission is hand-picking potentially disruptive businesses to invest and support as part of the SME Instrument. Businesses could receive up to €2.5m in funding as well as business coaching.