Spain granted financing for an SME instrument
The results of the projects submitted in September to the SME instrument call results, have already been disclosed. A total of 33 Spanish SMEs will receive 1.6 million euros, they represent 13% of the total budgeted of this call. SMEs will use this funding to draw up their business plans. They will also receive training, consultancy and business acceleration services, all free of charge. Each beneficiary will receive 50,000 euros of subsidy for innovative solutions, capable of revolutionizing the current market; this will facilitate their entrance on the market.
For all those who have not reached the cut-off mark or have been left without funding, as well as for those who wish to submit their funding proposals to the European Commission, for the first time, can already do so. The next process of evaluating the proposals will begin on February 13th, 2019. To be eligible for this funding, companies must have a technological product in the phase of validation. Their product must have the potential to revolutionize the European market through innovation. In addition, there are multiple funding grants for the proposals that have not received funding despite having reached the cut-off mark, these are managed by different regional and national administrations and seek to cover the cost incurred for the preparation of proposals.
In addition, for those who are already at a more advanced stage of product development and need financial support to complete the activities prior to a market launch, can submit applications directly to the SME Instrument Call Phase 2. The next deadline for this financial instrument for SMEs is January 9th, 2019, and offers subsidy financing of 70% of the submitted budget, with a maximum budget of 2.5 million euros, for innovation activities (prototype development, testing, demonstration, design, planning and development of industrial scale, updating business model).