Finnish company Spectral Engines Oy receives €2,4 million grant from the Horizon 2020 SME Instrument Phase 2 for developing a revolutionary portable drug screening device.Invent Baltics consultants supported Finnish company Spectral Engines Oy in preparing a successful SME Instrument Phase 2 project proposal. The project with a total budget of €3,3 million will receive support under the Horizon 2020 topic “Open Disruptive Innovation Scheme“.
The device built in the NarcoScan project change the future of police work and the war on drugs, as it is the first re-usable pocket-sized scanner for police patrols. The technology developed in this project allows police officers to detect any type of illicit narcotics onsite, and it is more than 20 times less expensive than its alternatives.
Horizon 2020 SME Instrument provides an excellent opportunity for small and medium sized companies to get financial support for product development and also for commercial uptake. Applying for Horizon 2020 SME Instrument should be considered if your company:
- has developed a novel technological solution with a superior value proposition
- has already contracted the first customers and believes there is strong market demand for the solution
- has tested and validated a prototype proving the benefits of the technology.