Spain Has The Largest Number Of SMEs Chosen To Receive European Funding For Innovation

European funding for SMEsEuropean funding for SMEs

A total of 13 Spanish SMEs have been chosen by the European Innovation Council, the European Commission’s financial and technical support tool, to receive up to 40 million euros in funding with the aim of supporting business growth via the development of innovative projects.  The companies selected belong to the sectors of health, engineering and information and communication technologies. They will each receive up to 2.5 million euros to develop the project presented to Brussels (5 million euros if it is related to health).

Amongst the Spanish projects, it’s worth highlighting a 3D printer for food, a digital recovery theraphy, an online platform for early education, a type of wrapping which increases the level of conservation of fresh products by 40%, various biodegradable materials or an innovative system for managing a surgical operation.

In total, 57 SMEs from throughout Europe will receive around 94 million euros after passing a series of tests and interviews with experts, entrepreneurs and investors. The Netherlands is in second place after Spain in terms of the number of companies selected (6), followed by France and Finland (5 each).

Four of the companies selected are Valencian, while three are from Madrid and the rest from Barcelona (2), Guipúzcoa (2), Murcia (1) and Asturias (1). The funds come from the Horizonte 2020 programme, via the European Innovation Council’s tool for SMEs.