2014 sees the opening of the Horizon 2020 EU research and
innovation funding programme. With nearly €80 billion of
funding available over the next 7 years, it is an opportunity not
to be missed. Of particular note is the new SME instrument
which will provide funding dedicated to SMEs with a strong ambition
to grow, develop and internationalize. At least €3
billion will be allocated to the SME instrument over the course of
the programme.
The SME instrument includes 3 phases. In phase 1
(feasibility), up to €50,000 is available for proof of concept
/ technological and commercial feasibility assessment over 6
months. In phase 2 (innovation), €1 – 2.5 million
is available over 1 – 2 years for main development activities
such as demonstration, testing, prototyping, miniaturization,
design, etc. Finally phase 3 (commercialization) is supported
indirectly through facilitated access to debt and equity financial
instruments.
