A European Commission Summary has been Published
The European Commission has recently published a summary of the first two years of SME Instrument, “Catalysing European Innovation”. The summary, which can be downloaded here, shows that of the 20,000 applications received, more than 500 million euros have been invested in 1400 companies during 2014-2015.
The enormous success of this tool was to be anticipated, considering the large number of proposals received during the first call (2,662), which closed on June 18, 2014. The great welcome obtained and the attention it received from the business world across the continent confirmed that an instrument for SMEs such as this had long been expected.
But the European Commission is not only interested in the number of projects, but also in their quality, which is why they are pleased to confirm that the number of projects exceeding the evaluation threshold has increased over time, a trend that is even more accentuated in phase II projects. At the start of the program, only 24% of projects were above the threshold, but this number reached 40% in November 2015, demonstrating that applicants developed a better understanding of what is expected from their applications. This implied an increase of the general quality in the proposals sent during the first two years.
The challenge for the next few years will be to continue to increase the quality of the proposals received.
More information here.