A total of 262 small and medium-sized (SMEs) companies have been selected for funding under the latest Horizon 2020 SME instrument.
The total amount to be distributed to the companies under both phases of the programme is €114m.
With this funding, companies will be able to finance their innovation activities ranging from feasibility studies to market launch.
69 SMEs were selected for funding in the SME Instrument Phase 2. The total amount to be distributed between the SMEs is €104.5m.
In this phase of the SME Instrument, each project will receive up to €2.5m (€5m for health projects) to finance innovation activities like demonstration, testing, piloting and scaling up.
193 innovative SMEs were selected for funding under SME Instrument Phase 1. The total amount to be distributed between the SMEs working on 193 projects is €9.65m.
In this phase of the SME Instrument, each project will receive a lump-sum of €50,000 to carry out a feasibility study.
The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators with funding opportunities and acceleration services.
The main focus of the pilot is on market-creating innovation to improve productivity and international competitiveness and to generate new jobs and higher standards of living.