The European INNOWWIDE project has opened today its second call for viability assessment projects (VAPS) of innovative SMEs from any sector. The budget is 4.2 million euros and the interested SMEs can apply for the aid until March 31st, 2020, through a registration form available on the project website (innowwide.eu).
The Centre for the Development of Industrial Technology (@CDTIoficial) coordinates this project, which is funded by the H2020 programme of the European Union, and in which Technological Corporation of Andalusia (CTA) also participates. The objective of INNOWWIDE is to finance viability assessment projects for the internationalisation of innovative SMEs, to place them at the forefront of international markets in cooperation with local partners, creating the necessary conditions for their acceptance.
The first call was a successful in terms of participation after receiving nearly 400 proposals from innovative SMEs from which 50 companies obtained financing.
The financing is intended for SMEs to verify the feasibility of bringing their technological solutions to markets outside Europe. The studies will address the technical, commercial and financial viability of the proposed business models, also identifying key practical aspects to ensure their technological and commercial development, as well as their successful implementation in cooperation with entities in the target countries.
Each approved VAP will receive a fixed grant amount of €60,000, representing a maximum of 70% of total eligible project costs. 50% will be disbursed at the beginning of the project and the rest will be paid 6 months later, after the approval of the final report.