What is the SME Instrument?
The SME Instrument was designed specifically for highly innovative smaller companies. The integrated approach and simplification efforts should lead to a minimum of 20%, or about 8.65 billion euro, of the total combined budgets of Horizon 2020’s specific objective ‘Leadership in enabling and industrial technologies’ (LEITs) and the ‘Societal Challenges’ going to SMEs. The SME instrument will be crucial in achieving this target.
Who is eligible for SME Instrument?
Only SMEs will be able to apply for funding. Even single company support will be possible to ensure market relevance and to increase commercialisation of project results. SMEs can decide how best to organise the project and with whom to collaborate, including subcontracting tasks if they lack in-house capabilities. As part of Horizon 2020, this scheme supports SME’s can apply as a single applicant or collaborative partnership depending on the needs of the project. A three 3 phased process is involved (applicants can enter directly at Phase 1 or 2):
- Phase 1: 50,000 euro to explore the technical feasibility and commercial potential of a novel idea
- Phase 2: Up to 2.5 million euro (70% – 100% support basis) for development, prototyping, testing and market replication
- Phase 3: A unique package of non-fiscal support ‘coaching and mentoring’ from the EC to promote the implementation and successful commercialization of innovative solutions identified through Phase 2 by facilitating access to private capital, legal advice and access to wider EU customers
Applying for SME Instrument
Are you thinking of applying for funding from the SME Instrument? Or are you wondering how to make your project eligible for this funding? Our experience in the grant application and market strategies can help you set up and exploit your innovation. One of our experts will be happy to make time for you. Feel free to contact our office.