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EU earmarks EUR 8.7m funding for innovative businesses

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EU earmarks EUR 8.7m funding for innovative businesses

Photo © Alexander Raths - Fotolia

(BRUSSELS) - 189 smaller European businesses are to benefit from a total of EUR 8.7 million of funding under the latest round of Horizon 2020 research funding for SMEs, the European Commission announced Thursday.

The funding – EUR 50,000 per recipient – is earmarked to finance feasibility studies for new products "that can disrupt the market".

The SMEs can also ask for up to three days of free business coaching.

Among the projects receiving funding are a technology to turn residue from the wheat milling process into biodegradable packaging, a robotic inspection and cleaning system for solar panels, a low energy technology to capture CO2 from gasses, and a cost-reducing train maintenance system for early detection of wheel defects.

Since its launch on 1 January 2014, 1473 SMEs have benefited from funding for feasibility studies under the SME instrument, which is financed by the Horizon 2020 programme.

SMEs in the UK were particularly successful with 36 beneficiaries accepted for funding, followed by those in Spain (34) and Italy (25). Most of the projects funded are in the area of ICT, followed by transport and low-carbon energy systems.

Since the launch of the programme on 1 January 2014, 1473 SMEs have been selected under Phase 1 of the SME Instrument.

The SME instrument is implemented through one continuously open call with cut-offs four times a year. The funding is €50,000 under Phase 1 and up to €2,5 million under Phase 2. The next cut-off for Phase 1 is 3 May 2016.

Further information

List of beneficiaries on the Horizon 2020 Participant Portal

More information on the SME Instrument

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