Do you know that you, SMEs and startups, can receive a grant of 60,000 EUR with the feasibility project you prepare?
The Eureka Innowwide 2023 grant program, opened on July 25, 2023, aims to support feasibility projects prepared to evaluate the feasibility of commercial or research activities of innovative SMEs and startups in international markets. The Innowwide program is funded by the European Union.
The closing date of the Eureka Innowwide Grant call, which opened on July 25, 2023, is October 17, 2023. Please mark your calendars!
Applications must be submitted directly through Eureka’s SmartSimple platform and in English.
Scope of Eureka Innowwide Programme:
They, SMEs and startups, must find a local business partner from the target country of their choice (countries in Africa, America, Asia or Oceania region); and present a market feasibility project for their innovative solutions in this country.
As SMEs, you can prepare your feasibility project for the Innowwide program at different stages. For example, you can prepare it while developing an R&D project idea or after a successful R&D project to understand whether the new product, process or service can be sold in targeted global markets.
Your feasibility project must include the following:
- First of all, which country in the target region determined by the EU will be the market you target? You should choose the target country and state this clearly in the feasibility report.
- Have a local partner (e.g. a supplier, customer, end user, research provider or complementary technology developer) selected as the main subcontractor in the target country for your feasibility project. Focus on the pilot market (in the target country) where you plan to develop your innovative business solution in collaboration with your local business partner.
- Highlight product (or process or service) market development.
- Include various activities/research in your feasibility project to identify and evaluate key local technical and market conditions in the target country that could support or hinder the effective implementation of your project.
Eligibility Conditions for Eureka Innowwide Programme:
- The application form must be filled out completely. The requested information must be presented completely and accurately.
- The applicant SME or startup must be legally established and operating in one of the EU countries or Iceland, Norway, Israel and Turkey.
- The feasibility project must include an innovation project or R&D study to be carried out in one of the countries in the target region (Africa, America, Asia, Oceania) determined by the European Union. Additionally, there must be a local business partner (e.g. a supplier, customer, end user, research provider or complementary technology developer) from this target country.
- The project should be entirely for civilian applications and should definitely not be a military project.
- The project duration should be 6 months.
- Total project cost must be minimum 86.000 Eur.
- Cost items should be explained in the project.
The Innowwide Program supports SMEs and startups established in one of the EU member states or in Iceland, Israel, Norway or Turkey. Local business partners or organizations in the target country with which SMEs prefer to cooperate can only take part in the program as sub-users or subcontractors. The use and responsibility of the Innowwide grant amount belongs to the applicant SME.
The Innowwide grant program covers 70% of direct eligible costs and indirect costs. Direct costs include expenses such as personnel, subcontracting, purchasing costs, travel and subsistence, equipment depreciation, other goods, works and services. Indirect costs are automatically calculated at 25% of the total direct costs, excluding subcontractor costs. The total cost (sum of indirect and direct costs) in the feasibility project must be at least 86,000 Eur.
The Innowwide program covers 70% of the total cost of 86,000 Eur, i.e., 60,000 Eur. No matter how much the total cost exceeds 86,000 Eur, the amount to be supported under the Eureka Innowwide Program is a fixed 60,000 Eur.
A fixed grant of 60,000 Euro will be given per successful project within the scope of the Innowwide Programme. The payment of the 60,000 Eur grant to the SME or startup will be made as follows:
1. After signing the grant agreement, it will be paid 42,000 Eur as an advance payment at the beginning of project implementation;
2. The remaining 18,000 Eur is paid at the end of the feasibility project, i.e. following the completion of the 6-month project, upon delivery of the final report and acceptance by the Eureka Innowwide team. If the report is not acceptable, they may be asked to submit additional information and corrections regarding the feasibility project within one month.