In December 2017, Karostech’s customers Physilect and Angular Velocity (via our collaboration partner Inspiralia) were selected among six other Finnish companies to receive funding from highly competitive Horizon 2020 SME Instrument. H2020 SME Instrument is intended for commercialization of disruptive innovations and thus very much wanted among European SME’s. The competition for grants is extremely hard and requires passing through very tight evaluation procedure. Only 193 companies out of 2.600 applicants were funded at November cut-off.
In addition, four other applications during two last cut-offs in 2017 (two Phase 1 and two Phase 2) received a Seal of Excellence from European Commission. The Seal of Excellence is the high-quality label awarded to projects which were deemed to deserve funding but did not receive it due to budget limits. It recognises the value of the proposal and supports the search for alternative funding.
With these success stories Karostech strengthened its position as one of the most successful SME Instrument consulting partner. So far we helped four SME”s from Finland and The Netherlands to gain more than EUR 2 million funding from H2020 SME Instrument. There”s more to come in 2018 as Seals of Excellence will be turned into grants in upcoming funding rounds and new proposals will be submitted for new customers.
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