Each project, 30 in total, will receive between €0.5 and €2.5 million (€5 million for health projects) to bring their product from pilot-phase to the market.
The European Commission received 1090 project proposals under Phase 2 by the fourth and last cut-off date for 2015 on 25 November. British SMEs were the most successful with seven beneficiaries, who will receive €10 million in total, closely followed by six Italian SMEs who will share €4.3 million.
Since the launch of the programme on 1 January 2014, 356 SMEs have been selected under Phase 2 of the SME Instrument.
This funding allows companies to invest in innovation activities such as demonstration, testing, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching. Most projects are proposed by a single SME but some companies team up in a project.
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