A total of 277 small and medium-sized enterprises (SMEs) from 25 countries have been selected for funding under the latest round of the EIC SME Instrument. The companies will receive a total amount of €13.7 million to share between their projects to get their innovations faster on the market.
Examples of the projects selected include a world-first foldable car seat, a satellite monitoring system for wildfires, a fast test for breast cancer screening, a smart charger for mobile devices, a fast control system for acrylamide in food, 4D asset modelling for drones, an artificial intelligence-based software platform and a platform detecting and preventing cyber-violence. The companies will also get free coaching and business acceleration services.
The majority of companies selected for funding are in the field of information and communication technology (ICT), health and engineering. Spain (46) had the highest number of beneficiaries followed by Switzerland (23) and France (22).
The European Commission received 2,822 proposals by the 13 February cut-off date under Phase I of the SME Instrument, which provides grants of €50,000 grants for business plan development.
The SME Instrument is part of the European Innovation Council (EIC) pilot, which supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services. The enhanced EIC pilot was launched on the 18 March; from 5 June 2019 the EIC SME Instrument will be renamed the EIC Accelerator Pilot, and will feature the possibility of applying for grant or grant and equity funding