SUSTAINABLE INNOVATIONS ACHIEVES A SUCCESS RATE OF 33% IN THE INNOWWIDE FUNDING PROGRAM
• SOFRAPAR AND LAMBER-SEGHERS ARE THE TWO PROJECT PROPOSALS AWARDED.
• INNOWWIDE IS DEDICATING A TOTAL BUDGET OF 4.2 MILLION EUROS TO SUPPORT THE INTERNATIONALIZATION OF 94 SMES.
Madrid, 25 August 2020. – SUSTAINABLE INNOVATIONS has achieved a success rate of 33% in the applications to INNOWWIDE, a funding program to support innovative European SMEs and start-ups in targeting markets beyond Europe.
SUSTAINABLE INNOVATIONS elaborated the market uptake plan and submitted the proposal for six projects, of which SOFRAPAR and Lamber-Seghers have been awarded with financial support to carry out Viability Assessment Projects (VAPs) in markets outside of Europe. The assessments will address the technical, commercial, and financial viability of the proposed business models, also identifying key practical aspects to guarantee their subsequent technological and commercial development, as well as their successful implementation in cooperation with entities in destination countries. The INNOWWIDE financial support rate is fixed at 70% of eligible costs with a fixed grant of €60,000 for each assessment project.
“We are really happy to accompany SOFRAPAR and Lamber-Seghers in their international expansion”, said Jesús Serrano, SUSTAINABLE INNOVATIONS’ Deputy General Manager. “These excellent results ratify the quality of our market uptake consultancy services.”
Supporting innovative ideas become a reality by overcoming the gap between the conception phase and the market is one of the main consulting services of SUSTAINABLE INNOVATIONS, which works with different entities and in a wide range of projects to identify targets and trends in a business plan, carrying out the necessary research to bring every exploitable development to the potential client.
This is the second time that SUSTAINABLE INNOVATIONS participates in the INNOWWIDE program, which this year is dedicating a total budget of 4.2 million euros to support the internationalization of 94 SMEs.