[Accelerator] Business basics: EU Funding: Focus on SME Instruments
EU Funding: The SME Instrument | Business in Horizon 2020
A unique opportunity for your business to learn what the SME Instrument means in practice.
As part of the Horizon 2020 programme, the European Commission is hand-picking potentially disruptive businesses to invest and support as part of the SME Instrument. Your business could receive up to €2.5 million in funding, and world-class business support and mentorship.
Who is the SME Instrument for?
The aim of the SME Instrument is to fill the gaps in funding for early-stage, research and innovation SMEs and accelerating the exploitation of innovations. High growth, highly innovative SMEs with global ambitions that want to disrupt the established value networks and existing markets. You should be driven, actively investing in innovation, and looking to grow. You should have been established for a while.
Start-ups are included, but the SME instrument is not meant as a company creation vehicle or instrument, but rather supports the growth of companies with interesting, innovative ideas with European or global potential.
It’s a good sign if your company is based in an innovation hub, has received grants or venture capital funding, received innovation-related tax benefits, or won an innovation prize in the last 2 years.
How does the SME Instrument work?
The instrument will take place in three phases, with the aim of transforming disruptive ideas into concrete, innovative solutions with a European and global impact.
Phase 1 Concept & Feasibility Assessment
Idea to concept (6 months). The European Union will provide €50 000 in funding, and carry out a feasibility study to verify the viability of the proposed disruptive innovation or concept.The SME will draft an initial business proposal (around 10 pages).
Phase 2. Demonstration, Market Replication, R&D
Concept to Market-Maturity (1-2 years). Assisted by the EU, the SME will further develop its proposal through innovation activities, such as demonstration, testing, piloting, scaling up, and miniaturisation. It will also draft a more developed business plan (around 30 pages). Proposals will be based on a business plan developed on phase 1 or otherwise. The EU aims to contribute between €0.5 million and €2.5 million.
Phase 3. Commercialisation
Prepare for Market Launch. SMEs will receive extensive support, training, mentorship and facilitating access to risk finance as the project is further polished into a marketable product. Additional support and networking opportunities will be provided by Enterprise Europe Network (EEN). The EU will not provide additional direct funding in this phase.
The EU Funding: The SME Instrument workshop is a unique opportunity for you to learn what the SME Instrument means in practice.
By the end of this 3 hour workshop you will know:
What is the SME Instrument?
Who can apply? Eligibility and target audience.
Where to start? Application preparation and proposal submission.
How does the SME Instrument work? Funding and financial administration & Access to supplementary support.
What are the 13 business sectors the SME Instrument will support in 2014 and 2015?
2014 and 2015 Open calls overview
WHO SHOULD PARTICIPATE?
Representatives of SMEs, micro enterprises, small and medium consultancies, business support organisations, innovation agencies, chambers of commerce, entrepreneurship-friendly organisations.
Professionals from the business sector who have been participating in FP7 and/or CIP projects
Professionals from the business sector who intend to participate in Horizon 2020, especially the SME Instrument.
Executive Agency for Small and Medium-sized Enterprises (EASME) – Horizon 2020’s SME Instrument
Digital Agenda for Europe (DAE) – SME Instrument
About Madalina Serban
EU Cluster Coordinator with the Impact Hub Company in Vienna, Austria starting March 1st 2014