04.03.2015 0 Comments

Innovation and R&D Funding from Europe – Horizon 2020

Innovation and R&D Funding from Europe – Horizon 2020

Learn more about the €79 billion of funding available and how SMEs can use the Enterprise Europe Network for help with applying.

Launched in January 2014, Horizon 2020 is the biggest ever EU Research and Innovation fund with €79 billion of funding available from 2014 to 2020. The focus of the programme is on innovation and the impact on the R&D industry and European society as a whole.

Funding is available under three pillars; Excellent Science; Industrial Leadership; and Societal Challenges. While the former focuses on research, the latter two target projects whose results will be commercialised. All projects require at least three participants from three countries. This requirement isn’t limited to just the EU-28, roughly 180 other countries are associated with Horizon 2020 or are eligible to receive funding.

In addition, the European Commission has made approximately €3 billion of the Horizon 2020 funding available to small and medium businesses who are working in predetermined sectors such as transport, environment, green energy, nanotechnologies and ICT.

The aim of the sub-fund, called the SME Instrument, is to accelerate innovation and bridge the gap between research and market application. Companies with the right idea could be eligible for individual funding of up to €2.5 million. However, the SME Instrument is not a company creation vehicle, businesses are recommended to apply for funding with a relatively advanced project that has already gone through the feasibility stage and is ready for development.

To help SMEs find their way around all the possible funding streams the European Commission has tasked the Enterprise Europe Network (EEN) with supporting businesses that are thinking of applying for funding. The EEN covers 54 countries, has around 2,000 staff on the ground and helps companies find project partners, offers support to funding beneficiaries and works with promising applicants who need the final push.

For further information email Triin Udris of EEN and Oxford Innovation: t.udris@oxin.co.uk

Read more about the Horizon 2020 scheme here >