Ireland has the highest success rate in Europe's Horizon 2020 SME Instrument
10th October, 2016
€26.5M secured by innovative Irish SMEs
Ireland has the highest success rate in Europe for the Horizon 2020 SME Instrument with a 16% success rate compared to a European average of 6%.
The success of Irish SMEs in the Horizon 2020 SME Instrument was celebrated at an Enterprise Ireland breakfast networking event in Brussels today. The event took place at the beginning of the SME Instrument Innovators Summit taking place on the 10th and 11th October in Brussels organised by European Commission’s Executive Agency for SMEs (EASME).
Irish innovative SMEs have received €26.5million from SME Instrument which places Ireland first in Europe for successful participation in this part of Horizon 2020. Radisens Diagnostics has to-date received the highest sum - €4.48m
Over 250 SMEs from all over Europe, who were successfully funded under Horizon 2020 SME Instrument programme, will meet together with 142 investors at a brokerage event to initiate first steps to commercialise the outcomes of these SME projects.
This success is attributed to the ambitions of a large number of seed companies applying to Horizon 2020. Not only are Irish companies being successful, they are also targeting larger sums of money than comparable companies across Europe. To date, this represents an investment of €26.5 million in innovative Irish SMEs, enabling accelerated growth of these companies.
Commercialisation of their project outcomes will be critical to drive these companies to further international growth.
“Irish SMEs play a vital role in the growth of the Irish economy. Seeing so many Irish companies successful at a European level validates the supports provided by Enterprise Ireland to develop high growth, highly innovative SMEs who have the innovative solutions and capability to win Horizon 2020 funding” said Dr. Imelda Lambkin Enterprise Ireland, National Director of Horizon 2020.
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