EUR 2.6 million for SMEs in fashion industry and tourism – EU to co-finance 75% of project costs

The Executive Agency for SMEs (EASME) of the European Union has opened a public invitation within the COSME program for support to small and medium enterprises and entrepreneurship in the fields of fashion and tourism.

As the Ministry of Economy reported, the public invitation is open for projects of development of new products and materials, design and production, retail and marketing, as well as projects directed towards the development of creative industries in various forms of tourism (active, business, cultural etc.) in the EU market or international markets.

This COSME program instrument, as explained, is oriented towards enhancing and supporting accelerators, incubators and other organizations supporting high-tech, innovative and creative startups and SMEs.

Applicants must form an international consortium – a business network made of private or public institutions supporting startups and SMEs (business incubators, accelerators and other relevant organizations), carriers of public authorization of a national, regional and local level and profit organizations. A consortium must consist of at lest four legal entities from three EU countries or COSME member-states.

The total budget of the public invitation is EUR 2,600,000, of which EUR 1,600,000 for the fashion industry and EUR 1,000,000 for tourism, whereas up to 75% of the project cost is co-financed.

Applications are submitted electronically by October 19, 2017.