Nearly 600 applications from innovative SMEs in 36 countries to fund VAPs
EBN is a proud founding member of INNOWWIDE funding scheme which has closed its second call for Viability Assessment Projects (VAPs) on 7 April with 597 applications from 36 countries. The submitted VAPs targeted a total of 61 different target markets.
INNOWWIDE aims at providing funding to European startups that want to continue their growth in new and emerging markets all around the world. The most popular overall third country for viability assessment projects was the USA with 19% of applicants, followed by India, China, Brazil, Mexico, Russia, Canada, Colombia, Chile and Japan, comprising the top 10 targeted markets.
61 target countries figured in the second call, which represented an increase in variety of more than 11% in comparison to the first call. The target countries had a widespread and balanced distribution between the three categories: developing, large emerging and developed.
All applications will now go through a strict eligibility check and independent evaluation, with the applications selected for funding being announced around the end of June 2020.
This second, and last, call of the INNOWWIDE project has received great interest and attention, which came to be reflected on the impressive amount of applications received, near 600. In this way, it is evident that there are a clear need and demand in Europe for such an instrument for innovative SMEs to pursue their path on internationalisation and that taking their endeavours abroad is clearly viewed by European SMEs as a strategic driver. Time has come to vouch for a reinforced mechanism as a follow up of the INNOWWIDE pilot phase.
More information and updates -->> INNOWWIDE project website.
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