174 projects have been selected for funding under the first 2016 SME instrument cut-off date. 189 European SMEs will be funded. One of these is an innovative Tuscan SME that submitted the proposal with support from Resolvo Srl.
1995 proposals were presented under Phase 1, bringing the success rate of funded proposals up to 8.7%. The UK was particularly successful with 36 SMEs funded, followed by Spain (34) and Italy (25).
The projects approved will receive 50,000 to finance feasibility studies for new innovative products.
Since the launch of the programme, 1473 have been selected for funding (Phase1).
The next cut-off date for SME instrument Phase 1 is the 3th of May 2016.