Two Dublin-based SMEs were this week selected for EU funding to help them get their innovative projects to market faster.

They are:

  • Cortechs Connect Ltd for its CereBrill project (brain training tools to improve the focus of children with ADHD)
  • InnoPharma Labs Ltd for its SmartCrys project (Advanced intelligence and close-loop control for Crystallisation of API’s (Active Pharmaceutical Ingredients).

The two SMEs will each receive up to €2.5 million.

They are among 65 SMEs awarded EU funding this week under Phase 2 of the SME Instrument 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 SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and business acceleration services. Companies can apply for two distinct phases under the SME Instrument, depending on the maturity of their innovation. Under Phase 1 of 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. In addition, companies under both phases can benefit from free coaching.

Source: European Commission – Ireland