The European Commission received 2025 proposals for the European Innovation Council pilot’s SME Instrument Phase 2 before the last cut-off date of the SME Instrument in this form on 5 June 2019.
Small and medium-sized enterprises (SMEs) from 40 countries submitted proposals. Companies that pass the initial selection stage will be invited to Brussels, to pitch in front of a Jury of investors and business experts during the week of 8-12 July 2019.
In this phase of the SME Instrument, each winning project will receive up to €2.5 million to finance innovation activities like demonstration, testing, piloting and scaling up. The companies will also benefit from 12 days of free business coaching and acceleration services.
The biggest number of proposals for this batch were submitted by Spanish applicants (267), followed closely by Italian (215) and Israeli applicants (174). Most companies are active in the field of health, ICT and engineering and technology.
From 6 June 2019 the SME Instrument becomes the EIC Accelerator, that offers blended finance in the form of an optional investment in equity in addition to a grant, to single for-profit SMEs. Grants will finance activities from TRL 6-8. Activities above TRL 8 will financed only through blended finance. Companies will be able to ask for €17.5 million in total (grant + equity).