News: 287 innovators selected for funding under EIC’s SME Instrument Phase 1
A total of 287 small and medium-sized enterprises (SMEs) form 31 countries have been selected for funding under the last round of the EIC SME Instrument, in the so-called Phase 1 of the programme, now known as the EIC Accelerator. The companies will receive a total amount of €14.15 million to share between their projects to get their innovations faster on the market.
In this phase of the SME Instrument each project, 283 in total, will receive €50.000 to draft a business plan. Several companies can team up to propose one project. The companies will also get free coaching and business acceleration services.
Most companies selected for funding are in the field of information and communication technology (ICT), health and engineering. Most companies are based in Spain (48), Italy (30) and Switzerland (28).
The European Commission received 3299 proposals for the 5 September 2019 cut-off.
The European Innovation Council (EIC) pilot supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services. From this cut-off onwards Phase 1 will be terminated. The EIC Accelerator Pilot builds on the SME Instrument Phase II and provides grant-only support as well as support in the form of blended finance (combining grant and equity). Under the EIC Accelerator, each project will receive a grant of €0.5 to €2.5 million and optional equity to bring their innovations on the market. The EIC Pathfinder Pilot offers grants of up to €4 million to promote collaborative, inter-disciplinary research and innovation on science-inspired and radically new future technologies.
See all the selected projects in our datahub.