The European Commission has announced the first results of its new instrument dedicated to SMEs which, under Horizon 2020, has an endowment of €3 billion to help small innovative companies take their ideas from the lab to the market.

In total, 155 SMEs from 21 countries (EU Member States or Horizon 2020 associated countries) will each receive €50,000 to finance feasibility studies to develop their innovation strategy. In addition, SMEs will be able to receive business advice for a maximum of three days.

With 39 proposals selected, the Spanish SMEs have been the most successful in the first round, closely followed by the SMEs from the United Kingdom and Italy. In total, 2,666 applications have been submitted for the first round of grants. Successful candidates will receive an official notification in August, after which the Executive Agency for Small and Medium-sized Enterprises (EASME), in charge of the management of the program, will make their names publicly known.