- Posted by: Irena Rezec
- Categories: Financing of Projects, Innovation Economy, International Markets, Public Funds
In a framework of H2020 financed INNOWWIDE project a first call is closed and 50 SME winners has been recently announced.
- The target country with highest number of grants awarded was the USA, with 13 of the 50 funded VAPs. Besides the USA, awards were spread among 21 countries worldwide, from every continent.
- The home country with the highest number of granted VAPs was Spain, a total of 20 project applicants.
- Regarding the target countries’ categories, there was a balanced distribution between developed countries and developing countries, with 19 projects awarded to each category. The remaining 12 projects will take place in the group of emerging economies.
- The majority of the projects that succeeded were focused on developing technologies in the area of electronics, IT and telecoms.
- Energy, Agriculture and Environment are the most targeted market sectors in this call.
The second call has been launched on January 15, 2020 with a deadline on March 31, 2020 and with aim to fund 70 projects, with a total of €4.2m in EU funding.
The INNOWWIDE project intends to bring European highly innovative SMEs to the forefront of international non-European markets. The funds allow them to conduct Viability Assessment Projects (VAPs) in cooperation with local stakeholders. The viability assessment projects last for six months and the project must have eligible costs of at least €86,000, to be funded at up to 70% (a fixed lump sum grant of €60,000). The funding creates the conditions to increase the uptake of European innovative solutions in markets outside of Europe. The VAP lasts no longer than six months.
Markets of developing countries, large emerging economies (Brazil, Russia, India, China, Mexico) and developed countries should be targeted. SMEs can decide on one of the eligible target country only.
Who can apply?
- innovative SMEs, including young companies and start-ups, from any sector looking to compete and start business in new and emerging markets around the world;
- SME must be established in an EU Member State or a Horizon 2020 associated country;
- The project must specify a partner entity (subcontractor) from the VAP focus country.
More information on the calls is available on the INNOWWIDE website and in our WOTRA office. Do not hesitate to contact us in case you need a support in the process of your project proposal preparation.