€3bn to be made available for new product development

Pera Technology has revealed that €3bn will be made available from January 1st for SME new product development. The Dedicated SME Instrument, part of the €82bn research and innovation programme Horizon 2020, will allow individual British businesses to claim up to €3M to spend on new product development. As opposed to previous budgets, Horizon 2020 does not require SMEs to join larger consortia. In order to be applicable for the larger research and development fund, businesses must demonstrate market demand and there is a further €50,000 lump sum available to businesses for this purpose. SMEs can also claim for up to 15 days free of charge coaching to help drive their product to market. Source :  http://www.twi-global.com/news-events/industry-updates/equipment-consumables-and-materials-industry/