The instrument is open to project proposals from:

  • individual applicants (micro, small and medium-size enterprises from all sectors)
  • partnerships between micro, small and medium-size enterprises, institutions in research and/or higher education, clusters, business associations, chambers of commerce and others
  • Consortia consisting of micro, small and medium-size enterprises, institutions in research and/or higher education, clusters, business associations, chambers of commerce and others.

For more detailed information about the eligibility criteria please refer to the Instrument Rulebook.

Goals

The purpose of this instrument is to encourage the transfer and implementation of new innovative and improved technologies, know-how and technological processes, and encourage various forms of cooperation between micro, small and medium enterprises, business associations, clusters and/or chambers of commerce, in order to achieve a positive impact on the sector. The instrument focuses on the application and adaptation of technologies and innovations which are not new to the world, but may nevertheless be new to the country, or new to the sector. Ultimately this will enhance the technological capabilities and capacities of existing industries and businesses, by bridging the gap between already available knowledge globally or nationally and in local industries.
This instrument is expected to have a positive long-term contribution to the development of the national economy, and to enhanced competitiveness through technological and operational improvements.

Duration

The duration of the projects funded through this instrument can be up to 24 months. In justified circumstances, projects may be extended for an additional 12 months after the prior approval by the Fund.

Evaluation criteria

The main criteria for evaluation of projects and allocation of funds under this instrument are:

  • Cooperation
  • Technological improvement
  • Quality of the project
  • Capacity of the project team
  • Market potential
  • Impact and
  • Procedures for quality assurance, standardization and certification.

Royalty payments

After the successful implementation of the technology/know-how/process deriving from the project, all MSMEs that are direct or indirect beneficiaries of the project financed by the Fund will owe royalties to the Fund. For the detailed conditions about the obligation to pay royalties, please refer to the Instrument Rulebook.

For additional information, please refer to the Instrument Rulebook.

The instrument shall provide financing of up to 50% of the total budget of the project. The maximum amount is 200.000 (two hundred thousands) euro.

The funds of the total project budget should be provided by the applicant.

„Innovation“ is an application of a new or a significantly improved product, technology, process or service, including significant improvements of technical characteristics, components and materials, built-in software, user orientation or other functional characteristics, or marketing methods or new organizational methods in operations, organization of work relations or relationships between a legal entity and environment

„Product innovation“ is the application of a new or significantly improved product, but which is not a change of aesthetic nature or only sales of innovated products, manufactured or developed by another natural person or legal entity.

„Process innovation“ is application of a new or significantly improved method of production, delivery, storage and transportation, including significant changes in the technique, equipment or software, but not solely organizational and managerial changes.

„Technology innovation“ is application of new or significantly improved technology.

„Organizational innovation“ is application of new or significant changes in management structure or methods, for the purpose of improving the application of knowledge, quality of products or services, or increasing the efficiency of business processes in the relevant legal entity or entry into new markets.

„Marketing innovation“ is application of new marketing methods, including significant changes in the product design, packaging, distribution and promotion of such product and charge thereof.

„Service innovation“ is application of a new or significantly improved service.