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Koolmill Awarded SME Instrument Grant

Solihull based Koolmill is one of only three West Midland based companies funded under the May cut off for the Horizon 2020 SME Instrument Phase 1 Program. 167 Projects were funded from 1,975 applications of which 23 were in the UK.

In total €8.3 million was awarded for feasibility studies (Phase 1)

Another 166 projects involving 178 SMEs from 28 countries have been selected in the latest round of under Phase 1 of the SME Instrument. Each project will receive €50,000 to finance feasibility studies for new products that can disrupt the market. They can also request up to three days of free business coaching. The SMEs will receive €8.3 million in total for this cut-off.

The European Commission received 1975 proposals under Phase 1 for the 3 May 2016 cut- off.

Spain ranks first, with 32 projects selected for funding, followed by Britain (23) and Italy (22). Most projects will be funded in the area of ICT (30) followed by transport (22) and low-carbon energy systems (22).

Since the launch of the programme on 1st January 2014, 1652 SMEs have been selected under Phase 1 of the SME Instrument and shared almost € 75.3 million.