The EU’s scientific research fund has just announced funding for nine small Irish companies with big ideas. The funding is being allocated under the Horizon 2020 SME Instrument.
The nine Irish SMEs will receive Phase 1 funding, i.e. a lump-sum of €50 000 to cover drafting a business plan plus three days of business coaching and free business acceleration services.
Since the launch of the EU’s SME Instrument in 2014, a total of 65 Irish SMEs have now been granted Phase 1 funding.
The 9 SMEs are:
– GDG of Aughrim, Co Wicklow is developing a Decision Support Tool to Manage Earthworks along Road and Rail Networks
– Toggam Enterprises Limited [t/a Hexafly] of Co Meath is developing Hexafly Black Soldier Fly Protein and Oils for Fishfeed
– Milis Bio Limited of Co Cork is developing a novel sweet protein for use as flavouring in the food and beverage industry
– Sothic Bioscience of Co Cork is developing a bio-identical and non-animal replacement for the quality control reagent of pyrogen testing in the medical and pharmaceutical industries
– BioProbe Diagnostics of Co Waterford is developing Bio-LP-1, a novel technology for water safety and surveillance testing
– Helic Ireland of Dublin is developing Crosstalk Analysis for Microchips
– Allogen Biotech of Dublin is developing the ARM-B skin-allergy diagnostics patch, a compact, easy to apply, low-cost allergy testing product
– FlowForma of Dublin is developing Business Process Management (BPM) tools to make automatic decisions
– Sonarc Innovations of Dublin is developing Sonarc, the world’s first full audio frequency range, massless speaker technology platform, providing immersive and powerful sound from a smaller size.
Companies can apply for two distinct phases under the SME Instrument, depending on the maturity of their innovation.
Under Phase 1 of the SME Instrument each project will receive a lump-sum of €50.000 to carry out a feasibility study.
Under Phase 2, each project will receive from €0.5 to €2.5 million to finance innovation activities such as demonstration, testing, piloting and scaling up. Applicants can request higher amounts if duly justified in their application.
There is no direct link between the two phases, therefore companies receiving funding from Phase 1 are not automatically entitled to enter Phase 2.
Source: European Commission – Ireland