SME Instrument Phase 2

Innovation project (phase 2)

Funding is available for: innovation projects underpinned by a sound and strategic business plan (potentially elaborated and partially funded through phase 1 of the SME Instrument).

Activities funded in phase 2 can be of several types: prototyping, miniaturisation, scaling-up, design, performance verification, testing, demonstration, development of pilot lines, validation for market replication, including other activities aimed at bringing innovation to investment readiness and maturity for market take-up.

The evaluation of phase 2 proposals happens both remotely and face-to-face (via an interview) by two panels of independant experts.

Amount of funding: in the indicative range of €500,000 – €2.5 million or more (covering up to 70% of eligible costs).

Duration: typically around 1 to 2 years

Outcomes:

• a greatly innovative product, process or service that is ready to conquer the market;
• a business innovation plan incorporating a detailed commercialisation strategy and a financing plan in view of market launch (e.g. on how to attract private investors if applicable).