EASME publishes report on SME Instrument
The Executive Agency for Small and Medium-sized Enterprises has published a report entitled "Innovation kitchen - Horizon 2020 SME Instrument Impact Report 2018" which offers first insights into growth trends and profiles of companies funded under the SME Instrument. The report presents cumulative data from 2014 to the end of 2017.
In 2017 SME Instrument-funded companies accounted for 10% of all tech IPOs in Europe and the follow-up equity investments into companies funded by the SME Instrument doubled within one year. Each €1 invested by the SME Instrument generated €1.6 of private investment, and the companies funded under Phase 2 of the programme have experienced a 118% increase in turnover and a 158% increase in employment.
From 2018 on, the SME Instrument becomes a central pillar of the European Innovation Council (EIC) pilot that focuses even more on market-creating innovation. The SME Instrument brings forward a new evaluation process involving a Jury of investment experts responsible for selecting the most innovative small businesses for funding.
Read the report here.