Head of Services
Looking for Europe's next innovation leader
Are you a highly innovative, ambitious and passionate small- or medium-sized business with global ambitions? Are you looking for excellent business resources and mentorship - and substantial funding wouldn't hurt either?
As part of the Horizon 2020 programme, the European Commission is hand-picking potentially disruptive businesses to invest and support as part of the SME Instrument. Your business could receive up to £2.5 million in funding, and world-class business coaching.
Who should apply?
We are looking for high growth, highly innovative SMEs [Check the EU definition of SME] with global ambitions that want to disrupt the established value networks and existing markets. You should be driven, actively investing in innovation, and looking to grow.
It's a good sign if your company is based in an innovation hub, has received grants or venture capital funding, received innovation-related tax benefits, or won an innovation prize in the last 2 years.
The instrument will take place in three 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 1, but may also apply for subsequent phases depending on the progress of their proposals:
Concept & Feasibility Assessment
Idea to concept (6 months)
The European Union will provide £50 000 in funding, and carry out a feasibility study to verify the viability of the proposed disruptive innovation or concept.
The SME will draft an initial business proposal (around 10 pages).
Demonstration, Market Replication, R&D
Concept to Market-Maturity (1-2 years)
Assisted by the EU, the SME will further develop its proposal through innovation activities, such as demonstration, testing, piloting, scaling up, and miniaturisation. It will also draft a more developed business plan (around 30 pages).
Proposals will be based on a business plan developed on phase 1 or otherwise. The EU aims to contribute between £0.5 million and £2.5 million.
Prepare for Market Launch
SMEs will receive extensive support, training, mentorship and facilitating access to risk finance as the project is further polished into a marketable product.
Additional support and networking opportunities will be provided by Enterprise Europe Network (EEN).
The EU will not provide additional direct funding in this phase.
further support please call the growth hub team on 01293 305965
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