SME Instrument is a EU-wide program directed towards propelling the best SMEs into entering the market with innovative products and services. Entering Phase 1 of the program awards winning companies with € 50 000 of funding and a business coaching program towards fast-tracking its product to the market. It also prepares companies for an application into Phase 2 of the program 6 months later, which awards € 2.5 Million as a grant and up to € 15 Million in equity investment.
The SME Phase 1 call had an acceptance rate of less than 5% of the applying companies, highlighting its selectivity into choosing only the best and most promising european companies.
As of next year, the SME Instrument will be called EIC Accelerator,
