The SME Instrument: your chance to reach for the stars of Europe
The European Horizon 2020 program has a specific instrument aimed at all types of innovative SMEs that show a strong ambition to develop, grow and internationalize.
The three phases of the SME Instrument cover the whole cycle of innovation:
• Phase 1 - Concept and feasibility assessment;
• Phase 2 - Development, demonstration and validation for market replication;
• Phase 3 – Commercialisation.
The SME instrument applies to all types of innovation, including non-technological and service innovation. The most innovative SMEs, which have leading technologies, products or services that want to accelerate their entry in the market can find the perfect call to catapult them into the European space and compete with the best. In the first phase SMEs can access up to 50,000 euros of financing to validate their business plan, and in the second phase they can be granted up to 2M € to launch a mature product to the market.
This is a very demanding call, but with the right knowledge and positioning, it is possible to achieve success and tangible results.
In 2017 the European Union has budgeted more funds for the SME Instrument (437.51 M € in 2017 compared to 353.40 M € in 2016). In the last cut-off date of Phase 1, the number of projects financed has increased by almost 15%.
At the last cut-off date of the SME Instrument Phase 1, ZABALA Innovation Consulting managed to finance 28.6% of the proposals submitted, compared to the global average of 8.4% of proposals funded by the call.
Since the implementation of the SME Instrument we have been able to approve 21 proposals for our clients in this phase. Likewise, in the SME Instrument Phase 2 we have achieved financing for 7 proposals.
If you want your company to be part of the most innovative and competitive European SMEs, we can help! Explain your project idea to us and we will enhance it so that it is among the best.
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