Irish SMEs 'among most successful' at getting EU funds

Small and Medium Enterprises from Ireland are ranked fourth in getting EU research funding out of SMEs from the EU's 27 states, according to the European Commission.

Irish SMEs are getting €43.4m from the EU which represents 20.7% of the overall EU contribution going to SMEs. This is well above the EU target average of 15%.

Commissioner for Research, Innovation and Science, Máire Geoghegan-Quinn, said: "The commitment to the 15% budget target for SMEs is a commitment to growth and jobs. We have now reached that target and will remain committed to it. Our future research and innovation programme, Horizon 2020, will continue to support the competitiveness of SMEs, which are the bedrock of the European economy."

Europe's SMEs will receive 15.3% (€2.4bn) of the Cooperation Programme budget of €16.3bn committed so far under the Seventh Framework Programme (FP7).

FP7 provides financial support for transnational research for and by SMEs wishing to innovate and improve their competitiveness in Europe’s knowledge-based economy.