Press Release: Fast-track to competitive business: European Commission proposes Joint Programme with Member States for research-intensive small companies

R&D-performing Small and Medium-sized companies (SMEs) are the entrepreneurial stars of Europe. Responding to their specific needs, the Commission has adopted EUROSTARS, a new Joint Programme with 27 EUREKA countries to finance R&D partnerships with research-performing SMEs. In addition to the Commission contribution of €100 million, 22 EU Member states and 5 countries associated to FP7 will jointly contribute another €300 million, giving a total investment of €400 million over 6 years. This will, in turn, mobilise up to €400 million in additional private funding, resulting in an estimated €800 million package to support European R&D performing SMEs. Through EUROSTARS, participating countries will pool their national programmes and research funding in favour of SMEs, resulting in better, more efficient use of funds.