Since I am frequently asked about the specific timeline and duration for the EU’s SME Instrument funding, here is a brief overview of how long it takes to apply:
– There are 4 deadlines per year for which applications can be submitted (usually February, May, September and November)
– 1 Month is required to prepare the application so that there is enough time to get all support documents ready
– 4 to 8 weeks until the result is out
– 6 to 12 weeks until the grant agreement contract is signed (and the first part of the grant is received)
Once Phase 1 is funded, it should take 3-5 month to prepare the feasibility study and to get ready for Phase 2. The process for Phase 2 is similar to Phase 1 with 4 deadlines per year and roughly the same waiting periods.
Important: If the first application is rejected then the next deadline will be 3 months later which means that each re-submission increases the time needed to receive the grant.