Here is some additional information regarding the EU’s Startup Funding (The SME Instrument) that I frequently get questions about:
Since Phase 1 will have its last two cut-off days this year with Phase 2 applications still being open, let me give you the main things to keep in mind when writing a Phase 2 proposal directly.
- Number of pages: Sections 1-3 (the main proposal) are 10 pages long for Phase 1 and 30 pages for Phase 2.
- Content: Naturally, in a Phase 2 proposal, you can go into more depth in each section but there are also a few parts that are unique compared to the Phase 1 template (e.g. “Communication and access to research data”)
- Work packages: This is an important one. Phase 1 applications are for a feasibility study and you do not need to have a fixed business plan in place but for Phase 2, you will need to have a very detailed cost structure for the next 2 years of developments. You must know who will perform each task, how much it will cost and what the deliverable will be. Plan about 7 to 15 pages just for the work packages.
- Budget: Phase 1 is fixed at €50,000 while Phase 2 can be set to €2,500,000 or higher in some cases.