Bionova Oy will receive more than €1 million for the implementation of Horizon 2020 SME Instrument phase 2 project

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Invent Baltics helped Finnish company Bionova Oy to prepare a successful project proposal to the Horizon 2020 Research and Innovation funding programme. The SME Instrument phase II project with a total budget around €1.5 million will be funded under the topic of “business model innovation”.

Life Cycle Assessment (LCA) tools assess buildings’ or building products’ environmental performance, and are necessary to design and build in an environmentally sustainable manner. Bionova, the leading construction LCA software firm in Northern Europe, has developed a prototype of “One Click LCA”. With this software, LCA can be done at least 100x faster and it costs 10x less. Within the project, Bionova implements business model innovation – scales up the industrial capability of the software and prepares a wide-scale market introduction using a novel business model.

SME Instrument is a dedicated funding instrument under the Horizon 2020 Research and Innovation programme that supports innovative SMEs in Europe. The instrument aims to fill the gaps in funding for research and innovation at early stages and thereby accelerate the exploitation of novel solutions to address key societal challenges. Applications are expected in various topics and companies can apply for funding individually without partners. Subcontracting is allowed both in phase 1 and phase 2 projects.

The SME Instrument phase 1 funding supports SMEs to cover the funding for initial feasibility assessment and business modelling for the novelty. Phase 2 funding is targeted to SMEs with particular focus on product development, demonstration activities and market replication. The next cut-off dates are February 3rd (phase 2); March 2nd (phase 1); April 14th (phase 2) and May 3rd (phase 1).  Invent Baltics OÜ provides initial consultancy regarding funding opportunities within the Horizon 2020 Research and Innovation programme free of charge.

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Silver Toomla
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