The Arex programme to access the European “SME Instrument” has secured 3.5 million euros in funding for innovative Aragon-based companies

Over forty Aragon-based companies took part this morning in the Arex Network Brunch to receive information and advice about the star financing mechanism for European SMEs, the “SME Instrument” within the European Horizon 2020 Framework Programme. “SME Instrument” is designed to finance and consolidate innovative projects headed up by European SMEs. The public company Arex has been supporting Aragon-based companies to apply to this Programme for two years, which finances the development of innovative products and services with considerable success: 22 companies in the Community have submitted their proposals, having obtained a return of 3.5 million euros of European funds to develop their projects. The meeting was held at Ibercaja’s Patio de la Infant, the entity sponsoring the Arex Network Brunches.
“Unlike other European programmes that focus more on research, the “SME Instrument” finances both the first stage of development of the business model and the following product development stage at technological and industrial level. Moreover, it is applicable to innovation of products and business models and services. That is why it is interesting for all kinds of SMEs” explained Javier Andrés, Managing Director of Aragon Exterior. For 2016 and 2017 the “SME Instrument” will be assigned a total budget of almost 740 million euros.
The rate of success of the projects submitted before the European Commission with support by Aragon Exterior is very high. 70% of the projects submitted in the initial stage received funds (50,000 Euros each), whereas the percentage of success in the second stage is between 40% and 50% with subsidies, ranging from 500,000 to 2,500,000 euros. The Aragon-based companies whose proposals were eligible in the second stage, received half a million euros each from the European Commission.
For a proposal to eventually be funded, both in the first and second stage, the company has to prepare all the documentation on scales of excellence, which is why Arex accompanies the companies throughout the entire process, supported by experts with experience in preparing proposals of this kind. With a view to the next call, expected for next May, an informative session was held today dealing with the participation requirements and conditions. Moreover, a specific workshop was held on how to prepare proposals and different individual meetings were held to advise the attending companies on preparing proposals for the “SME Instrument”.
Spain is the leader in the number of proposals submitted and financed, with 484 proposals, which have jointly received 155 million euros in funds since the start of the Programme (2014) to February 2017. Italy, United Kingdom and Germany are the next countries with most participation and funding received. By Autonomous Communities in Spain, Aragon holds the sixth position in terms of number of financed proposals in the initial stage, with a total of 20 proposals with financing, and the fifth place for proposals in the seconds stage, with a total of six proposals awarded funds until last February.
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