Do you have a prototype you would like to commercialise? Do you have ambitions to bring it to the rest of the world?
If this is the case, the EU’s SME Instrument might be for you.
About the SME Instrument
The SME Instrument is a grant offering up to €2.5 million to take your product to market, and covers activities from marketing and prototyping to validation and performance validation. Topics covered range from agriculture and ICT to health and energy or transport, but almost any innovation qualifies as long as it is a highly-innovative prototype with some level of validation and you have the ambition to make a global impact.
The SME Instrument has three phases, outlined below, in which SMEs and scale-ups first receive €50,000 for a feasibility study to examine how and if they wish to commercialise their innovation, before applying for the bigger sum of up to €2.5 million. It is important to mention that Phase 1 is optional, and that it is possible to go directly to Phase 2, but the chances of success are higher if you go through the whole process.
Evolution Europe, You, and the SME Instrument
Evolution helps SMEs and scale ups commercialise innovations by developing ‘go to market plans’ and leveraging the SME Instrument and network of their partners and investors. We take responsibility for writing proposals for Phase 1 and Phase 2, carry out the feasibility study, and do project management over the life of the project so that our clients can benefit from our high success rate (51% compared to 8% if you go it alone) and minimise their own administrative and bureaucratic burden.
Would you like to hear more about the SME Instrument, Evolution’s service, or have your idea’s grant potential evaluated without obligation?
Contact Jacob Huber, International Business Development Manager at Evolution Europe