- The grants have a budget of € 60,000 per project and are aimed at SMEs, young companies and startups from any sector interested in starting business in new and emerging markets outside Europe.
- The proposal submission is open from today to 31th May 2019 and can be made online through a registration form on the official website of the INNOWWIDE project (www.innowwide.eu).
The European project INNOWWIDE has launched its first call for proposals to fund Viability Assessment Projects (VAPs) in international markets of innovative SMEs, with a budget of 3 million euros. The Centre for the Development of Industrial Technology (CDTI, @CDTIoficial) leads this project in which 10 other European partners participate, among which is Technological Corporation of Andalusia (CTA).
The project has the full name of 'Viability Assessment of Collaborative and Innovative Business Solutions in Worldwide Markets' and is funded by the European program H2020. INNOWWIDE has a budget of 7.2 million euros to fund some 120 feasibility studies of innovative SMEs, with the aim of placing them at the forefront of international markets in cooperation with local partners, creating the necessary conditions to increase acceptance of innovative European solutions in markets beyond Europe.
INNOWWIDE is a pilot project of the European Commission to test a new cascade funding, which may be applied in the Horizon Europe program. This is to give funds to funding entities of different countries and regions to achieve greater capillarity and effectiveness in the allocation of funds.
Which projects will be funded?
The INNOWWIDE project will provide funding for European SMEs to verify the viability of bringing their technological solutions to new and emerging markets. The proposals (Viability Assessment Projects, VAP) should address the technical, commercial and financial feasibility of the proposed business models, identifying key practical aspects to ensure their subsequent technological and commercial development, as well as their successful implementation in cooperation with entities in the destination countries. Models based on open innovation, co-creation and technological assimilation will be especially valued.
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 six months later, after the approval of the final report.
Deadlines and requirements
The proposal submission will be open from today to 31th May 2019 and can be made online through a registration form on the official website of the INNOWWIDE project (www.innowwide.eu).
The project is aimed at SMEs, young companies and startups from any sector interested in starting business in new and emerging markets outside Europe.
The VAPs should contribute the objective of bringing the SME´s new product, service or process to the target market, through an innovative application of existing or new technologies, methodologies, or business processes. In addition, the proposals can not last more than six months and will have to include the subcontracting of a collaborating entity in the target country.
New and emerging markets outside Europe offer enormous opportunities for the promotion of new products, services or processes based on innovative applications of existing technologies, methodologies or business processes.
In order to compete effectively in these markets, European companies and especially SMEs need to develop from the very beginning sound alliances with the main Innovation players in these economies to better understand the market-specific context and the needs and demands of users and consumers, in order to ensure acceptance, receptivity and local success.