Enterprise Estonia helping companies seek support from European Commission

Enterprise Estonia is offering support to those applying for funds from the European Council.
Enterprise Estonia is offering support to those applying for funds from the European Council. Source: ERR

Enterprise Estonia is helping innovating companies apply for support from the European Commission via a measure whose main support is to total €2.5 million.

The European Commission is planning to invest over €2 billion over the next two years to support research-based high-level technology and innovative enterprises, with the goal of supporting the development of innovation to the point where companies are able to involve private investments. Several applications rounds have been opened, and Enterprise Estonia and the Estonian Research Council can advise companies during their application process, Enterprise Estonia said.

"Several rapidly developing companies in Estonia, such as Skeleton [Technologies], Cybernetica and Mobisolutions, have received support funding from Europe for their development activity, and application rounds are currently open as well," Inge Laas, Enterprise Estonia's strategy and product development sector manager, said in a press release.

The support aimed at small and medium-sized enterprises (SMEs) is divided into two. Through this autumn, preparation support can be sought to encourage the thorough thinking through of one's business plan; up to €50,000 will be made available under this support measure. "This support can be used, for example, for conducting market surveys and for an intellectual property or feasibility analysis," Ms Laas explained.

The main support portion, meanwhile, amounts to €2.5 million, and the European Commission is also preparing further financing development, ie a special risk capital fund, as a result of which the volume of maximum support in developing innovative technologies may increase to €15 million.

According to Ms Laas, the main support is meant for product development, and the establishing and testing of prototypes in order to bring one's world-changing product to the market. "Enterprise Estonia's role is to offer counselling for these kinds of innovative companies," she explained. "Thus I am inviting all interested entrepreneurs to contact us."

The European Innovation Council (EIC) is part of a broader system that the EU is involved in creating, the purpose of which is to bring Europe to the forefront of strategic technologies and innovation.

Editor: Aili Vahtla

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