Get your innovation funded for 70% through FTI and the SME-instrument.
The European Innovation Council (EIC) has incorporated the FTI and SME-instrument funding schemes in the workprogramme of 2018-2020. With this they aim to stimulate SME with commercially oriented innovative SME’s to cooperate internationally and bring new products, processes and services to the market.
Fast Track to Innovation
This funding scheme is available for all commercially focused innovation project and subsidize 70% of the eligble costs up to € 3 million. Specifically, the goal of this grant is to reduce the time to market for disruptive, high risk and high gain innovations.
Who can apply
Consortiums of three to five entities that originate from at least three different EU member states and allied states. Because there is a strong focus on bringing innovations to the market, this programme requires that at least 60% of the costs are made by the industrial and for profit entities..
When to apply
In 2018 there are three ‘cut-off dates’:
February 21 – May 31 – October 23 at 17:00.
SME-instrument
This programme consists of three phases:
- Fase I: Feasibility studies with a lump sum subsidy of € 50.000 (duration approx. 6 months)
- Fase II: Development phase of which 70% of the eligible costs are funded upto € 2,5 mln (duration 12-24 months)
- Fase III: Subsidized coaching to bring the innovation to market
For phase I and II an application must be send in. Phase III is optional when funding for phase II has been granted.
Who can apply
Any innovative SME can apply for this funding scheme. The changes of getting your subsidy granted is when there is an internaitonal consortium of applicants who are combining their knowledge and expertise. The SME’s have to be dominant in this consortium.
When to apply
There are different ‘cut-off dates’ for phase I and II. Through this link you’ll find an overview of all these dates.
New
As opposed to last years, and additional step in the application process has been added for Phase II. After your proposal being reviewed by experts, there will be a face-to-face meeting in which applicatins are given the opportunity to elaborate on their project.
Both the FTI and the SME-instrument are complex but very interesting funding schemes. Are you setting up an R&D-project with a European partner? Let’s get in touch to discuss your funding options.
