42 SMEs from 14 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 (up to €5 million for health projects) to finance innovation activities and the development of their business plans. The companies will also be entitled to benefit from up to 12 days of business coaching.
The European Commission received 614 proposals under Phase 2 by the first cut-off date of 2015 on 18 March. 230 received an evaluation score above the application threshold and 37 or 16.1% have been selected for funding.
Spanish SMEs have once again been particularly successful with 7 beneficiaries on track to receive over €12.6 million. They are closely followed by firms from Italy, Finland, France, Netherlands and the UK.
Since the launch of the programme on 1st January 2014, 214 SMEs from 22 countries have been selected under Phase 2 of the SME Instrument sharing more than €294 million.
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