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A new competition is set to give SME transport businesses the chance to win up to £2m (€2.5m) worth of R&D funding to develop innovative new products.
The competition is the first in a series run by leap® from Pera Technology, which aims to help small and medium-sized businesses, who have struggled to secure finance for innovative projects during the recession. In particular Pera Technology is keen to hear from SMEs with a focus on developing smart and green integrated transport solutions.
The 10 chosen businesses will receive a fully funded application to the European Union’s Horizon 2020 science and innovation fund, which launched this year and provides grants of between £400,000 and £2m (€500k and €2.5m), to turn new product ideas into commercial prototypes. Once a prototype is developed, Horizon 2020 will give SMEs access to potential investors from across Europe and further afield.