EU Startup Services secures SME INSTRUMENT PHASE II funding for UK startup REEDSY

EU Startup Services is proud to announce that it secured funding through the SME Instrument Phase 2 for the disruptive UK-based and Seedcamp funded startup Reedsy, under the topic, Open Disrupting Innovation (ICT).

The SME INSTRUMENT: The SME Instrument Phase II awards equity-free grant funding to innovative EU startups, at an average of 1 Million Euro per startup (minimum €0.5 million and maximum €2.5 million) while the SME Instrument Phase I awards € 50 K per startup, also equity free.

Since its launch in 2014 the Horizon 2020 SME Instrument Programme has continuously grown to attract an ever increasing number of highly innovative small and medium-sized businesses (SMEs). In the last two years alone, through the SME Instrument, the EU has funded 2.116 startups for a total amount of € 694.8 million through the SME Instrument.

In 2014-2015, 55% of SMEs above threshold under Phase 1 and 16,3% of SMEs above threshold under Phase 2 have been funded.

As the above percentages indicate, a significant number of above-threshold proposals are funded in the first try. Those that are not funded are usually funded on re-submission.

Therefore it is critical writing a correctly submitted proposal at the first try, both to secure the funding as well as to keep the costs and efforts for submission within reasonable limits.  

REEDSY: UK-based and Seedcamp funded, Reedsy, is disrupting the traditional publishing house model and putting power back into the hands of authors.

Reedsy is a curated marketplace cleverly targeting two groups whose numbers continue to swell – self-published authors and freelance publishing professionals, giving authors access to the kinds of professional skills increasingly outsourced by publishers – editors, designers, and publicists. Authors can browse examples of these experts’ work, brief the work required, compare rates, and then to agree a contract. The two parties can collaborate directly using the Reedsy platform, before exporting the results directly into standard publishing formats.

Through its collaboration with EU START UP SERVICES, Reedsy will be able to use the funding to expand its online solution by developing and adding Reedsy for Publishers, a version of its marketplace that will branch out from their existing offering in line with publishers’ requirements.

TESTIMONIAL:

emmanuel-Reedsy
Emmanuel Nataf

I met with EU Startup Services Team early March 2016 and impressed by their track-record, I immediately decided to work with them on a Horizon 2020 Phase 2 proposal. The company assigned a senior writer to the project who quickly understood our business and helped make the process fast and flawless. After working with EU Startup Services for about 6 weeks, we submitted the proposal mid-April and got a positive response in May. Throughout the project, the EU Startup Services team also helped with most of the administrative work, which saved a lot of time.

What distinguishes us from our competitors is our specialization on fundraising for startups and innovative SMEs and their extensive knowledge of the SME Instrument scheme. Over the course of one year, we were able to help more than 1350 startups based in over 22 countries to reach the funding they needed to scale up and conducted more than 33 workshops with expert advice on Horizon 2020’s SME Instrument scheme.

Take a look at our client Testimonials and contact us if you also want your startup to be a ‘Success Story’ with more than million euros of equity-free EU grant funding to help you scale-up.