287 SMEs RECEIVE FUNDING FROM LAST ROUND OF EIC SME INSTRUMENT PHASE 1

A total of 287 small and medium-sized enterprises (SMEs) from 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 share €14.15 million of funding to help prepare their innovations for a faster market launch. This means that the 283 projects (more than one company can propose a project) will receive €50 000 to draft a business plan.  The companies will also receive free coaching and business acceleration services if they so wish.

The majority of the companies selected for funding in this latest round are in the field of information and communication technology (ICT), health and engineering. In terms of country breakdown, the largest number of applicants are based in Spain (48), Italy (30) and Switzerland (28). In total the European Commission received 3 299 proposals for the 5 September 2019 cut-off date, which was the last opportunity to apply for SME Instrument Phase I funding.

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 to 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.

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