At the last SME Instrument / EIC Accelerator call, Sea4Us was awarded a Seal of Excellence by the European Commission.
The SME Instrument is part of the European Innovation Council pilot (EIC pilot). This was launched on 27th October 2017 as part of the Horizon 2020 Work programme 2018-2020, when the SME Instrument, the Fast Track to Innovation (FTI), Future and Emerging Technologies (FET) Open and Horizon Prizes, were brought under the EIC pilot umbrella, to provide a “one stop shop” for funding of innovators/innovations in the EU. Thus, this program aims to meet the financing needs of SMEs oriented towards internationalization and, in particular, young entrepreneurs in the implementation of innovative ideas of high potential.
SME Instrument is divided into three phases: Phase 1 aims to assess the technological, technical and economic viability of the project through a donation of 50,000 euros; Phase 2 (now named Accelerator) supports the development of the innovation project and can finance between EUR 500 000 and 2.5 million and Phase 3 is aimed at supporting the market.
The “Seal of Excellence” is a quality label awarded to project proposals submitted for funding under the Research and Innovation category of the Horizon 2020 Strategy. It is given to those projects that have been able to pass all the rigorous selection and award criteria of the evaluation Horizon 2020.
After being awarded a Seal of Excellence by the European Commission at the last SME Instruments Phase 1 call, the project proposal 954819, Sea4Pain2Market – Novel analgesic for chronic pain from marine-derived compounds, submitted under the Horizon 2020’s SME Instrument (grant only and blended finance) call H2020-EIC-SMEInst-2018-2020 (H2020-EIC-SMEInst-2018-2020-3) of 8 January 2020 in the area of EIC-SMEInst-2018-2020 supporting SMEs efforts for the development, deployment and market replication of innovative solutions for blue growth by following evaluation by an international panel of independent experts was scored as a high-quality project proposal in a highly competitive evaluation process*.
* This means passing all stringent Horizon 2020 assessment thresholds for the 3 award criteria (excellence, impact, quality, and efficiency of implementation) required to receive funding from the EU budget Horizon 2020.