INNOWWIDE project was launched in Madrid on the 10th of January 2019. To compete effectively in new and emerging markets, European companies and especially SMEs need to develop partnerships with innovation players in these economies from early on and develop receptiveness for local success. To this end, INNOWWIDE – Viability assessment of collaborative and INNOvative business solutions in WorldWIDE markets, is a three-year project that aims to provide funding to at least 120 European innovative SMEs and start-ups to conduct Viability Assessment Projects (VAPs) in markets outside of Europe. The calls will provide up to 60,000€ of funding per project.
The calls will target markets of developing countries, large emerging economies (Brazil, Russia, India, China, Mexico, etc.) and developed countries. The VAPs will be selected through a competitive selection procedure.
The INNOWWIDE strategic model relies upon the design and prototype of an innovative funding scheme which aims to support:
- The viability assessment of globally-oriented, SME- led, innovative business solutions in close collaboration with third country stakeholders
- The preparatory work to facilitate further joint R&I actions, including co-creation and open innovation, and market technology uptake.
- The establishment of synergies, leverages and complementarities with current and future related national and international funding schemes.
The kick-off meeting was organised by the consortium leader, Centre for the Development of Industrial Technology (CDTI), and included the participation of all project partners from different EU countries. The project is supported by a large range of partners that have a wide network of contacts among European SMEs.