The European INNOWWIDE project has opened this Thursday its second call for aid to finance feasibility studies for the internationalization of innovative SMEs in any sector. The available budget is 4.2 million euros and interested SMEs can apply for the aid until March 31, 2020, through a registration form on the Innowwide website.
The objective of INNOWWIDE is to finance feasibility studies of the internationalization of innovative SMEs to place them in the forefront of international markets in cooperation with local partners, thus creating the necessary conditions for their acceptance.
The first call succeeded in terms of participation after receiving nearly 400 proposals of innovative SMEs from which 50 obtained financing.
The funding is intended for SMEs to verify the feasibility of bringing their technological solutions to markets outside Europe. The studies will address the technical, commercial and financial viability of the proposed business models; also identifying key practical aspects to ensure their subsequent technological and commercial development, as well as their successful implementation in cooperation with entities in the countries of destination.
Each approved proposal will receive a grant of 60,000 euros, which represents a maximum of 70% of the total eligible project costs. 50% will be disbursed at the beginning of the project and the rest will be paid six months later, after the approval of the final report.