71 small and medium-sized companies (SMEs) from 22 countries have been selected for funding in the latest round of the Horizon 2020 SME Instrument Phase 2. The total amount to be distributed between the SMEs working on 66 projects is €103.82 million. In this phase of the instrument, each project will receive up to €2.5 million (€5 million for health projects) to finance innovation activities. Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching. Most projects are proposed by a single SME but some companies team-up to elaborate a project. The next cut-off for SME Instrument Phase 2 is on 6 April 2017.
Source: http://ec.europa.eu/