Phase 1 Budget: lump sum of €50,000
Phase 1 Project Duration: 6 months
Phase 2 Budget: €500,000 – €2,500,000
Phase 2 Project Duration: 12 – 24 months
Multiple Cut-off dates.
- The SME Instrument supports high-risk, high-potential small and medium-sized enterprises to develop and bring to the market new products, services and business models that could drive economic growth.
- The SME instrument is for innovators with ground-breaking concepts that could shape new markets or disrupt existing ones in Europe and worldwide.
- Phase 1 (Feasibility Study) helps you get a grip on the R&D, technical feasibility and commercial potential of a ground-breaking, innovative idea and develop it into a credible business plan for scaling it up. Activities can include, for example, risk assessment, market research, user involvement, analysis of regulatory constraints or standards regimes, intellectual property management, partner search, or feasibility assessment. The goal in Phase 1 is to formulate a solid, high-potential innovation project with a European or global growth-oriented strategy. Your proposal must be based on an initial business plan and outline the specifications of a more elaborate one, which will be the outcome of the project.
- Phase 2 (Concept to Market) helps you develop your business concept further into a market-ready product, service or process aligned with your company’s growth strategy. Activities could, for example, include trials, prototyping, validation, demonstration and testing in real-world conditions, and market replication. If the activity concerns a primarily technological innovation, a Technology Readiness Level (TRL) of 6 or above is envisaged. You can subcontract work essential for your innovation project.
- You can apply to Phase 1 as a means of preparing for Phase 2, or you can apply directly to Phase 2.