The European Commission published a list of the 155 small and medium-sized enterprises (SMEs) that will be first to benefit from its new €3 billion SME Instrument.
The SMEs, located in 21 countries ,will each receive €50,000 to finance feasibility studies for their projects, and they can also benefit from up to three days of business coaching. The beneficiaries will also develop their business plan. After that, their projects may be considered for further financial support from the Commission worth up to €2.5 million.
The selected SMEs are in a good position to succeed in the second phase of the programme, in which applicants can receive between €0.5 and 2.5 million to finance innovation activities such as demonstration, testing, piloting, scaling up, and miniaturisation.
Around 645 projects in total should be funded in 2014. This number will rise to 670 in 2015. The call for proposals is constantly open and the next deadlines for evaluation are 24th of September and 17th of December 2014 for Phase 1, and 9th of October and 17th December 2014 for Phase 2.