€7.5 million in H2020 SME Instrument funding for customers of Invent Baltics

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With the results from the recent SME Instrument Phase 2 funding round available, Invent Baltics was able to secure a total of €7.5 million funding for its customers. The 4 successful projects were submitted in the topics of ICT, Energy and Healthcare/Biotechnology. The companies represented 3 different member states: Estonia, Finland and Ireland.

The European Commission received 1534 project proposals by 18 January 2017, the first cut-off date for Phase 2 in 2017. 66 projects were selected for funding with the total amount to be distributed between the SMEs is €103.82 million.

Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching. Most projects are proposed by a single SME but some companies team-up to elaborate a project.

The next cut-off dates for SME Instrument Phase 2 are on 6 April and 1 June 2017.

For more information please contact:
Senior Consultant Silver Toomla
Mobile: +372 5171 781
E-mail: silver.toomla@invent.ee

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