For small companies developing innovative technologies, time is of the essence: a one month advantage in a patent race can mean either bankruptcy or millions of euros of benefits. The short procedure leading to a contract on a grant between companies and public funding bodies is essential to the success of Eurostars, the only European funding programme to be specifically dedicated to Small and Medium-sized Enterprises (SMEs) focusing on innovative technologies.
'THE NATIONAL AGENCIES MANAGING EUROSTARS HAVE COMMITTED THEMSELVES TO A 7 MONTHS MAX. TIME-TO-GRANT.'
As the Eurostars programme is moving under the Horizon 2020 flagship - the biggest research and innovation framework in the world worth 70 billion euros - the national agencies managing the funding programme have committed themselves to a 7 months maximum period between the submission of an application for funding and the moment when a grant contract with the public authorities is signed.
The innovation agencies behind the Eurostars programme and the central Eurostars office in Brussels have so far reduced what is referred to as ‘time-to-grant’ to a median period of time of less than eight months – a 25% improvement since the start of the programme. This seems to indicate that the 7 months mark will be easy to achieve by the authorities managing the programme.