Early signs of success: 60% of SME Instrument innovations are up-and-coming commercial suc
Almost two out of every three companies funded by the SME Instrument have put their innovation on the market and achieved the first successes, thanks to the subsidy. Most of these initial successes are young, small companies instead of micro or medium companies. The study was carried out in 70 completed SME Instrument Phase 2 projects. Despite the short period of time after the financing, 27% of the companies achieved a very positive commercial success. Another 31.4% has reached the market, an achievement that was the target of the Phase 2 grant, but it still does not show outstanding commercial results, although there are promising signs. A small 8.5% has experienced the bankruptcy or termination halfway of their project. almost 33% of companies are not yet in the market, but many of them are in the process of negotiating sales and contracts with potential clients. Many projects in this category are therefore on the verge of success but have not yet proved it.
Two success stories:
Ultrahaptics that raised 30 million euros and grew from 1 to 80 employees with the help of the SME Instrument with its ultrasound system that produces a tactile sensation in the air. "Horizon 2020 was instrumental in Ultrahaptics securing the 30 million tracking in funding," said Steve Cliffe, CEO of Ultrahaptics.
Platform.sh embarked on a trip that was selected for an SME Instrument Phase 2 grant in 2014 to develop a hybrid platform in the cloud that reduces the costs of web application development by 40% for SMEs. We have achieved several thousand customers on our platform. Nothing was possible without the Horizon 2020 program. "
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