Karostech’s customer Everfill Oy was granted SME Instrument Phase 1 funding by the European Commission. Everfill’s proposal Improving the Quality of Life of Millions through the Revolutionary Approach in Dermal Regeneration Care was selected among 274 companies from around Europe to receive this very much wanted funding out of 2822 proposals received by The European Commission in February 2019.
The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services. Companies can apply for two distinct phases under the SME Instrument, depending on the maturity of their innovation. Under Phase 1 of SME Instrument, each project will receive a lump-sum of €50.000 to carry out a feasibility study. Under Phase 2, each project will receive from €0.5 to €2.5 million to finance innovation activities such as demonstration, testing, piloting and scaling up. In addition, companies under both phases can benefit from free coaching and business acceleration services.