The European Commission has published a list of the 155 small and medium-sized enterprises (SMEs) that will be first to benefit from funding under its SME Instrument, a scheme to help projects with high potential to the market.
The SMEs from 21 countries will each receive €50,000 in cash to design feasibility studies for their projects. After that, projects may be considered for further funding of up to €2.5 million.
"Innovative SMEs will help get the European economy back on track, creating lasting employment and great products and services,” said Máire Geoghegan-Quinn, European Commissioner for Research, Innovation and Science. “This new instrument is aimed at projects that are truly innovative, with a strong business opportunity and a solid concept to bring them to the market."
SMEs in Spain had 39 projects selected, the UK 26, Italy 20, Germany, 11 and Ireland 10.
Full distribution of grant money
Among the winners is the Oxford University spin-out Brainomix – a company which is shortlisted for a European Academic Enterprise Award (ACES) in October, hosted by the Science|Business Innovation Board.
Proposals and success rates
The Commission whittled the entry list down from 2,662 proposals to a final selection of 155.Italian SMEs were the leading proposal-writers, with 436 submissions, Spain a close second with 420, followed by the UK with 232, Germany 188, France 167 and Hungary 166.
The Commission says the variation in the number of submissions is a result of multiple factors: the size of the SME sector in the economy of a country and the impact of the economic crisis, to name two. Given the situation in Italy and Spain, two countries where budgets for research and science have been hit hard, it is not surprising to see how active both were.
When the success rate, that is, the percentage of chosen projects over number of submissions, is measured, Ireland is in the lead at 20 per cent, followed by Austria at 15 per cent, and the UK 11 per cent.
Background on SME Instrument
The SME instrument is a grant programme within Horizon 2020, the EU’s €80 billion research programme, with about €2.8 billion to fund 650 SMEs a year over the course of the programme.
Funding is structured into three distinct phases covering the initial technical feasibility of a project through to demonstration and eventual commercialisation. SMEs are allowed to apply for whichever phase reflects the stage of their project.
The call for proposals is constantly open and the next deadlines for evaluation are 24 September and 17 December 2014 for Phase I, and 9 October and 17 December 2014 for Phase II.
Full list of beneficiaries here.
EU financing for SMEs here.
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