Thematically the Dedicated SME Instrument is connected to specific SME calls within Industrial Leadership and Social Challenges with a total budget of €3.5bn. As an SME, you can apply for support within three different phases, with the aim of transforming disruptive ideas into concrete, innovative solutions with a European and global impact. SMEs are recommended to apply for Phase I, but may also apply for subsequent phases depending on the progress of their project.
Please see the detailed overview of the Dedicated SME Instrument where you will find the open calls for 2014/2015, budget allocation, deadlines and the number of projects the EU expects to fund within each call: Overview of the Dedicated SME Instrument
Phase I: Grants for concept development and feasibility studies of the commercial and technical potential of the project idea. The grant is a lump sum of €50,000 and expected project duration is about 6 months, after which the project is ready for the next phase.
Phase II: Grants for prototype development, scaling, prototyping, demonstration and testing of prototypes and products. Funding is in the range of €0.5 to €2.5m and covers 70% of costs. Project duration is typically between 12-24 months.
Phase III:Within the final phase, dealing with final market preparation and commercialisation of the idea or product, there is no financial support available, but assistance in the form of access to networks, mentoring, coaching, etc. This may be the preparation of patent applications or meetings with potential lenders and/or investors.
Nordic Innovators has considerable experience in developing SME proposals and can assist within all aspects of the application process. Please contact Kenneth Junge Hermansen on +45 3120 5538 or write an e-mail to email@example.com.