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  • Writer's pictureJuana Morell de España

Unlocking Innovation: Funding Opportunities in France and Singapore

France and Singapore have come together to offer funding opportunities for Research and Development (R&D) projects through the Eureka Eurostars initiative.

With a shared commitment to fostering international cooperation and driving technological advancements, these two countries have opened their doors for ambitious enterprises to turn their innovative ideas into reality.

The timeframe for this exciting opportunity spans from the opening of project submissions on March 25, 2024, to the deadline for applications on June 30, 2024, at 17:00 CEST. Ministries and funding agencies will then diligently assess proposals, with funding decisions expected by October 31, 2024. Successful projects are slated to kick off in November 2024, heralding a new era of collaboration and innovation.

Funding details

Bpifrance, representing France in this venture, offers a versatile funding framework with an open budget. Companies, particularly startups and SMEs, can receive substantial support, including loans of up to 3 million euros. The funding coverage extends up to 80% of eligible project costs for startups and SMEs, demonstrating a concerted effort to bolster the growth of small and medium-sized enterprises. Midcap and large companies can also benefit, with funding covering up to 60% of eligible project costs. Notably, deep tech projects may qualify for alternative funding avenues, further encouraging innovation across various sectors.

Meanwhile, Enterprise Singapore stands as a key partner, offering grants to eligible Singaporean participants. Startups and SMEs can receive up to 70% coverage of eligible project costs, while larger companies can access up to 50% funding. However, it's imperative to note the eligibility criteria, including a 30% local shareholding requirement and the financial capacity to see the project through completion.

To ensure the greatest transparency and fairness, projects will undergo rigorous evaluation across four key dimensions: Impact, Excellence, Quality and Efficiency of Implementation, and Overall Perception. Experts will scrutinize each application, assessing factors such as market viability, degree of innovation, consortium quality, and strategic importance. Only projects that receive a positive evaluation from all relevant national or regional ministries and funding agencies will secure funding.

The application process is streamlined yet comprehensive, requiring interested parties to engage with their respective ministries or funding agencies through Eureka's platform. From there, applicants will navigate through the submission process, which includes completing application forms, providing necessary documentation, and undergoing evaluation. Additional steps may be required for applicants seeking funding through Bpifrance or Enterprise Singapore, emphasizing the importance of thorough preparation and adherence to specific guidelines.

In conclusion, the collaboration between France and Singapore under the Eureka initiative represents a significant opportunity for enterprises to propel their R&D endeavors forward. By leveraging generous funding schemes and adhering to stringent evaluation criteria, innovative projects can flourish, driving economic growth and societal progress on a global scale.

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