59 SMEs from 16 countries have been selected in the latest round of Horizon 2020 SME Instrument Phase 2. For each project, the participants will receive up to €2.5 million to finance innovation activities and the development of their business plans. Austria, Czech Republic, Germany, Hungary and Slovenia are among of the 16 contries of origin.
The companies will also be entitled to benefit from up to 12 days of business coaching.
The European Commission received 962 proposals under Phase 2 by the second cut-off date of 2015 on 17 June. 357 received an evaluation score above the application threshold and 44 or 12.3% have been selected for funding.
Spanish SMEs have once again been particularly successful with 11 beneficiaries on track to receive €15 million, closely followed by firms from Italy, the United Kingdom, Germany and Denmark.
Since the launch of the programme on 1 January 2014, 273 SMEs have been selected under Phase 2 of the SME Instrument sharing more than €387 million.