We are excited to announce that Sensinite has been granted EU funding as one of eight Finnish companies. Competition is severe and generally, only some 7-9 % of the applications are accepted and the funding is granted. This time there were some 2600 application submitted and 193 were successful. Of those 193 successful application eight are from Finland.
Sensinite funding comes from SME Phase 1 instrument. The amount is 50 000 euros for conducting a feasibility study and for completing the business plan.
EU-based small and medium-sized enterprises can get EU funding and support for breakthrough innovation projects with a market potential under revamped SME instrument. SME instrument is rolled out as part of the European Innovation Council pilot. The SME instrument will boost fast company growth and market-creating innovation thanks to staged funding and ramped up business acceleration services.