Smalle Technologies received 50.000 euros from the European Commission in the framework of the Phase I of the SME Instrument Horizon 2020
Smalle’s proposal, ‘eForcis and BeForcis, Wave Energy Generation for marine buoys and devices’, on the topic ‘Stimulating the innovation potential of SMEs for a low carbon and efficient energy system’ has been selected for funding as it was announced on May, 3rd 2016. The funding will allow Smalle to study in depth the industrial sector of buoys and marine aquaculture, in which the company will market their products eForcis and BeForcis, respectively.
The SME Instrument program continues with Phase II, in which small and medium enterprises can apply for two-year projects. The grant in Phase II has a contribution of between EUR 0.5 and 2.5 million and it covers 70% of the project costs. In order to succeed, the projects have to be highly innovative and guided to markets and value creation.
Phases I and II are very competitive. Only 10% of the projects presented are funded in both Phases.
Smalle Technologies is currently working in a project proposal for Phase II.