eM-POWERing SME Clusters to help SMEs overcome the valley of death
Funding Program:
Horizon 2020
Call:
BBI-2019-SO4-S4
GA No.:
101000594
Duration:
2020-2022
EC Funding:
€ 1.578.907,00
MPowerBIO Empowers Clusters to Bring SMEs Across the Financial Valley of Death
Many SMEs experience that even though they have a good idea or a good product, they cannot get an investor. They need to be able to pitch their idea perfectly, have a strong business plan, a clear strategy, a well-defined customer base, etc. to attract investors.
European clusters need to be better suited to help small and medium-sized enterprises (SMEs) overcome the ‘valley of death’ i.e. the difficult task of finding sufficient investment to get from idea to business. This was the main focus of the MPowerBIO project, which empowered both clusters and SMEs within the bio-based industry across Europe, equipping them to better navigate the challenges of securing investment and turning ideas into thriving businesses.
Our role in the project
As part of the project, Foodscale Hub (FSH):
- Established and implemented a Capacity Building Programme for bio-based SME clusters, along with integrated business support services for SMEs.
- Offered practical support to cluster managers and innovation intermediaries, enabling them to mobilise and enhance their skills, resources, and services for SME business development.
- Provided insights to help participants access financing and supported SMEs in enhancing their skills to scale up their businesses and secure investments.
- Delivered the Business Support Programme in collaboration with partners, completing two iterations and engaging 178 SMEs across 33 countries in Europe, covering a wide range of topics, including customer needs, crowdfunding, PR, and pitching.
MPowerBIO by numbers
- 2 Immersive Programmes - Capacity Building and Business Support Programme
- 83 SME clusters across the bioeconomy participated in MPowerBIO activities and network-building efforts, with 20 clusters introduced by FSH
- 178 SMEs from nearly every corner of Europe benefited from the Business Support Programme, including 30 SMEs brought in by FSH
- 12 events were supported (9 regional and 2 pan-European) by the project to identify and select the most investor-ready projects, granting them access to the annual final pitching events