The EU’s scientific research fund has just announced funding for three small Irish companies with big ideas to get to market.
- SwiftComply TopCo Ltd of Dublin has developed a technology marketplace for hospitality compliance services that integrates with public sector authorities and relieves the burden of regulation for businesses
- Valitacell Ltd of Dublin has created a disruptive analytical technology which enables the biopharmaceutical industry to manufacture drugs faster, cheaper and with greater regulatory confidence.
- DiaNia Technologies Ltd of Galway has developed an innovative, disruptive extrusion technology applicable across a range of polymer resins, which can change the surface of a catheter without affecting core device properties.
Each of the projects will receive up to €2.5 million to finance innovation activities. Thanks to the funding, the selected SMEs can finance innovation activities like demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies involved in the projects will also benefit from 12 days of business coaching.
This brings to 29 the total number of Irish SMEs to be granted Phase 2 funding under the SME Instrument since its launch in 2014
In total, 69 small and medium-sized companies (SMEs) from 21 countries were selected for funding in the latest round of the Horizon 2020 SME Instrument Phase 2 announced today.
The total amount to be distributed between the SMEs working on 64 projects is €99.96 million. In this phase of the SME instrument, each project will receive up to €2.5 million (€5 million for health projects) to finance innovation activities.
Spanish SMEs were the most successful with 15 companies selected for funding. They were followed by 10 companies from Italy and 5 projects from Sweden and Denmark. Most projects are in the field of ICT (12 projects) and transport (10 projects) followed by 9 projects in the field of health.
The European Commission received 1 222 project proposals by 6 April 2017, the second cut-off date for Phase 2 in 2017. Since the launch of the programme on 1st January 2014, 710 SMEs have been selected for funding under Phase 2.
Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturisation, in addition to developing a mature business plan for their product. The companies will also benefit from 12 days of business coaching. Most projects are proposed by a single SME but some companies team-up to elaborate a project.
The next cut-off for SME Instrument Phase 2 is on 18 October 2017.
Source: EU in Ireland