The 3 Phases of the SME Instrument…

Phase 1: Concept & Feasibility – Assessment Idea to Concept (6 months)

The SME will draft an initial business proposal, the European Union will provide EUR 50,000 in funding and business coaching.

Phase 2: Demonstration, Market Replication – R&D Concept to Market-Maturity (1-2 years)

The SME will further develop it’s business proposal through innovation activities and draft a more developed business plan. The EU may contribute EUR 0.5million and 2.5 million* and business coaching.

Phase 3: Commercialisation – Prepare for Market Launch

The SME will receive extensive support to help polish its concept into a marketable product, and have access to networking opportunities. The EU will not provide funding during this phase.