SME Instrument Phase 1-the EUR 50.000 grant available for your Startup
If you are working to an innovative technology, product or service which can be a game-changer for specific industries and existing markets and you are looking for funding, the SME Instrument is a great opportunity to get direct financial support for your Startup without giving up equity or having to reimburse the money.
The SME Instrument Phase I
The SME Instrument is an EU funding programme which has a threefold dimension, but within this post we will focus only on Phase I. Phase I is the opportunity for your Startup to consolidate the first technical and commercial steps, as during a 6 months period the founding teams undertake a short project to validate if: 1) the technology, product or service matches users` expectations in terms of usability, features and value for money; 2) the commercialisation strategy is effective and uses the right channels; 3) the innovation is protected via appropriate IPR.
The result of the 6 months project is a short (20 pages) feasibility study which is extremely useful as it delivers many consistent answers to the founding team which can easily steer the future development steps according to the study`s insights.
For implementing the project, you receive a lump sum of EUR 50.000 which would cover 70% of the project costs.
When to apply?
In 2017 there are 4 cut-off dates when you may apply:
- 15th of February
- 3rd of May
- 6th of September
- 8th of November
Benefiting of a consistent expertise within the entrepreneurial funding landscape, our advisers will guide you during the application process, focusing on key-elements required by the evaluators for maximising your chances to get funding. Write us and we will transform your idea into a funded project!