We are very proud to announce that POM has been awarded a Phase 1 grant from the European Commission's Horizon 2020 Research and Innovation Programme (SME Instrument).
Horizon 2020 is the largest research and innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020). It aims to secure Europe's global competitiveness and is seen as a means to drive smart, sustainable and inclusive growth and jobs. Within Horizon 2020, the goal of the SME instrument is to boost fast company growth and market-creating innovation thanks to staged funding and ramped up business acceleration services.
In this highly competitive programme, POM's application was evaluated with top marks in all categories (impact, excellence and implementation). In total, 2009 proposals from 44 countries were submitted (cut-off February 8, 2018), out of which only about 10% were selected for funding.
The grant will allow POM to define the most appropriate approach to expand its services to other European markets. More specifically, 5 EU target countries have been identified for which a feasibility study will be performed to determine detailed market entry strategies and to estimate the cost for execution.
The expected outcome of the project is a “plan d’attaque” detailing per country: access strategy, named partners to execute the strategy, detailed planning for the roll-out, personnel, costs and required funding to roll out the plan and a clear strategy on how to safeguard POM's IPR.
Following the feasibility study, POM aims at applying for additional subsidies (among others SME Phase 2 funding) which will support further growth in Europe and beyond.
"Being awarded this grant is a strong signal that we are on the right track and offer compelling and innovative e-payment solutions that fit with societal needs and market demand," says Johannes Vermeire, co-founder and CEO at POM.
"It's also a fantastic recognition for the entire team which is driving forward our mission to eliminate time-consuming administrative work, and by doing so to create a more efficient, prosperous and happier society."