Today, 246 small and medium-sized enterprises (SMEs) from 24 countries have been selected for financial support from the SME Instrument – a funding mechanism under the EU’s research and innovation programme Horizon 2020. The companies will receive a total amount of €12.2 million to bring their innovations to the market faster.
Each company will benefit from €50,000 to create a business plan and will receive free coaching and business acceleration services. The majority of the companies selected for funding are in the field of information and communication technology (ICT), health and engineering. Examples of the projects include a water-injection system to reduce NOx emissions from vehicles, a digital platform for hands-on cybersecurity training, a novel cancer therapy and a technology that dissolves wood waste to extract and reuse raw materials.
Companies can already apply for the next round of the SME instrument, which has a deadline of 13 February 2019. The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services.
