Ufm: FARO Fund seeks 20 new innovative projects

Steering committee every month approves new subsidies

30 April, 11:27

(ANSAmed) - BRUSSELS, APRIL 30 - The seed capital, development and orientation fund (FARO), a Union for the Mediterranean funding scheme to encourage partnerships between innovative entrepreneurs in the Mediterranean countries, is looking to select 20 more projects in 2012 to add to the 24 that it has preselected. According to the Enpi website (www.enpi-info.eu), of the 24 preselected, eleven have received funding to the tune of 204,000 euros. The subsidy has allowed entrepreneurs to finalise partnerships, set up their project and launch products on the market.

A steering committee meets every month to approve projects so that it can grant subsidies quickly. Applicants can now send in applications for June. Eligible projects must be innovative, contribute to the economic, social and / or environmental development of a southern Mediterranean country and involve stakeholders from three different countries (including at least one of the southern Mediterranean). Types of organisation eligible are companies, labs, research centres under contract, Economic Interest Groups, associations and professional federations based in the EU and which have less than 250 members of staff. For more information: http://www.faro-um.org/.

(ANSAmed)
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