© www.GlynLowe.com
© www.GlynLowe.com

Commission invests in 58 SMEs

58 small and medium-sized enterprises (SMEs) from 16 countries have been selected for funding in the latest round of the Horizon 2020 SME Instrument Phase 2.

During this phase of the instrument, each project is to receive up to €2.5m (€5m for health projects) to finance innovation activities. The total amount to be distributed between the SMEs working on 51 projects is €80m.

Spanish SMEs were the most successful with 13 companies selected for funding, followed by seven Italian SMEs and five companies from both Germany and Finland. Seven of these projects are in the field of transport and six in the field of ICT.

The European Commission received 1,378 project proposals by 13 October. Since the launch of the programme on 1 January 2014, 587 SMEs have been selected for funding under Phase 2.

Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching.

The next cut-off for SME Instrument Phase 2 is 18 January 2017.