The scheme is competitive, business-oriented and focused on creating impact, bringing high-potential innovations closer to the market.
Key Features
- Only SME companies can apply
- Single company applications
- Subcontractor involvement
- Company can apply into any phase
- Funding between €50k and €2.5million
- Projects between 6 – 24 months
- Development must be at TRL (Technology Readiness Level) 6 – System/subsystem model or prototype demonstration in a relevant environment
- Any IP generated resides within the SME
- 70% funded projects
- Opened March 2014
- Application deadlines every 3 months
The scheme operates 3 phases:
Phase 1
- Funding up to €50,000
- Project duration up to 6 months
- Typically 70% funded
- Typical project activities; feasibility of concept, risk assessment, IP regime, partner search, design study
Phase 2
- Funding up to ~€2.5m
- Project duration between 12-24 months
- Up to 70% funded
- Typical project activities; development, prototyping, testing, piloting, miniaturisation, research
Phase 3
The final stage is commercialisation and while no direct funding is offered, the EU can provide mentoring.