The European Commission received 1,280 proposals from 37 different countries for the second SME Instrument Phase 2 cut-off on 14 March 2018. The instrument features a new evaluation system, with results expected by the end of May.

SMEs seeking funding through the SME Instrument can receive a non-repayable grant ranging from €0.5m to €2.5m, with 70% co-financing of the total project cost.

The high number of proposals received came from Spain (213), followed by Italy (154), France (94), and Germany and the UK (89). More than 90% of applicants are individual SMEs from the ICT and health sectors.

As of this year, the SME Instrument is part of the European Innovation Council (EIC) pilot project. One of the new features is the fully bottom-up approach, which means the abolition of topics previously imposed by the European Commission.

Project proposals will be evaluated remotely by innovation experts; the best will be invited for a second evaluation to deliver a pitch before a panel of innovation and business experts. The interviews will take place during the week of 16 to 20 April. For further details on the evaluation process, click here.

The results of this cut-off will be published by the end of May 2018. The next cut-off is scheduled for 23 May 2018.