185 small and medium-sized enterprises (SMEs) from 26 countries have been selected for funding in the latest round of Horizon2020 SME Instrument, for Phase 1.
For each project, the participants will receive € 50,000 to finance feasibility studies for new products that can disrupt the market. They can also get three days of free business coaching.
The European Commission received 2057 proposals under Phase 1 by 25 November 2015, the fourth and last cut-off date for 2015. The 185 SMEs that will receive funds proposed 175 projects in total (multiple SMEs can be involved in one project). This brings the success rate of funded proposals up to 8.4%.
Since the launch of the programme on 1 January 2014, 1284 SMEs have been selected under Phase 1 of the SME Instrument.