More than ever, the EU with its investments into SME innovation is aiming at accelerating company development and growth, from the very early stage to market introduction, with direct and indirect complementary support measures foreseen at every step of the way, in particular under Horizon 2020 and COSME, the EU Competitiveness and SME programme.

The provision of financial support to SMEs' innovation projects through the SME instrument – which contributes to the priorities of the Societal Challenges and the specific objective 'Leadership in Enabling and Industrial Technologies' – and to SMEs that are engaged in the context of research and innovation projects with other types of legal entities are stepped up, as the overall level of budgetary commitments to support these activities is increasing.

The SME instrument addresses the financing needs of internationally oriented SMEs, in implementing high-risk and high-potential innovation ideas. It aims at supporting projects with a European dimension that lead to major changes in how business (product, processes, services, marketing etc.) is done. It will assist innovative SMEs to shape new markets, create growth, and achieve high return on investment. The SME instrument addresses all types of innovative SMEs so as to be able to promote growth champions in all sectors.