Horizon 2020 is the biggest European Commission Research and Innovation program ever. From 2014 to 2020, this program contributes to addressing key social challenges, promoting industrial leaderships in Europe and strengthening excellence in science. The total budget for such initiatives will amount to nearly 80.000 million of euros.
As part of the Horizon 2020, SME Instrument program is designated with 3.000 million of euros to boost breakthrough innovations by funding highly innovative SMEs with a clear commercial ambition and potential for high growth and internationalization.
Aspiring recipients of SME Instrument funds must be based on an innovative idea. This idea has to be groundbreaking in their sector or market and must primarily perform innovation activities. The process of filing is based on three phases:
- Phase 1. Concept & Feasibility Assessment
- Phase 2. Demonstration, Market Replication, R&D
- Phase 3. Commercialization
Achieving this funding is highly competitive and companies must meet the highest expectations required. It is necessary to demonstrate talent, differentiation and probabilities of success.
This year, the European Commission received 960 project proposals from 13 countries considered Phase 2. Italian SMEs were the most successful with 10 beneficiaries who will receive € 12.7 million in total, closely followed by 9 Spanish SMEs who will share € 13.5 million.
We are honored and pleased to announce that Worldcoo is one of the 9 Spanish SMEs chosen under Phase 2 of the SME Instrument by the European Commission. Our innovative business model has contributed to reaching significant national big growth. By continuously investing in innovation, our widget will lead the path be a global leader in social impact innovation. These factors have made Worldcoo’s recognition by the European Commission within the category SME business model innovation possible.
Thanks to this high level recognition and to the funds granted by the European Commission, we will continue to innovate and improve our widget to ease and streamline universal implementation. Through focused technological investments we will gain the efficiency necessary to organically obtain the resources needed towards a ubiquitous position and goal to become the leading tool in funding social projects global reference.
The Worldcoo team