83 top-class innovators selected for funding to reach the market faster under the European Innovation Council (EIC)  pilot’s EIC Accelerator, previously known as SME Instrument Phase 2 and 291 companies will get funding under the Phase 1 of the programme. Companies under both phases will receive free coaching and business acceleration services  to make the most of their funding.
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The European Innovation Council (EIC) pilot will support 83 small and medium-sized enterprises (SMEs) from 17 countries under the EIC Accelerator, previously known as SME Instrument Phase 2.
The total amount to be distributed between the SMEs working on 78 projects is € 148.7 million from the EU’s research and innovation programme, Horizon 2020. Each project will receive up to €2.5 million to finance innovation activities like demonstration, testing, piloting and scaling up.
The companies will also benefit from 12 days of free business coaching and acceleration services.
The projects selected include a new generation safe and environmentally-friendly light aircraft, an anti-bacterial textile for hospitals, a 3D audio software, motion planning technology for autonomous driving and a superbot for audio calls.
291 innovators selected for funding under EIC’s SME Instrument Phase1
The European Commission received 1765 proposals in total. Further to an evaluation on paper, 174 candidates pitched their innovations to a Jury of professional investors, entrepreneurs and business experts that evaluated the solidity of their project and selected the 78 innovations for funding.
Spanish SMEs were the most successful with 12 companies selected for funding. They were followed by 9 companies from Switzerland and 7 businesses from Ireland. Most selected companies are active in the field of health, ICT and engineering.
A total of 291 small and medium-sized enterprises (SMEs) form 24 countries have been selected for funding under the latest round of the SME Instrument, in the so-called Phase 1 of the programme.
The companies will receive a total amount of €13.7 million to share between their projects to get their innovations faster on the market.
In this phase of the SME Instrument each project, 288 in total, will receive €50.000 to draft a business plan. Several companies can team up to propose one project. The companies will also get free coaching and business acceleration services.
Most companies selected for funding are in the field of information and communication technology (ICT), health and engineering. Most companies are based in Spain with 42 companies selected for funding. THey were followed by 33 companies from Italy and 22 from Switzerland.
The European Commission received 2784 proposals for the 7 May cut-off.
Read the original article on the EASME website .