To find out if your project is suitable for funding, please read What Types of Industries Receive Funding?.
Three of the four evaluators that will review the proposal have a business background and only one will have a technical or scientific background. While it is impossible to know what the specific evaluators will focus on and look for, there are some general things that make the project look more suitable for investments:
- You have financial backing other than the SME Instrument (Own revenues, parent company, private investors)
- You have been acknowledged for your innovation (prices, funds, awards, features on blogs, TV or magazines)
- You address a promising market segment (market growth, market size, small competition)
- You have Letters of Recommendation from key partners and stakeholders (regulatory agencies, decision makers, relevant authorities, thought leaders)
- You have Letters of Intent from Suppliers, Customers or Distributors
- You have a highly experienced and capable team (work experience, relevant projects, education, extensive support network)
- Your project brings not only financial but also social benefits to the EU
- Your project has more potential than just the Phase 2 developments and can be expanded further within the next decade
It is not necessary to fill all the boxes but we should be able to address as many points as possible.