Bike industry SMEs let €3 billion opportunity bypass them

The European Cyclists’ Federation has flagged a €3 billion opportunity that is at present entirely passing the bicycle business by.

The scheme in question is the EU’s SME Instrument, a funding pot lined up for the benefit of accelerating small and medium sized businesses, as well as providing support services.

Offering equity-free funding and boasting a grant success rate often three-fold in excess of similar funding sources, the grants are on offer to businesses with up to 250 employees.

A similar programme in 2016 saw 58 SMEs funded in 16 countries with €78 million delivered to assist 48 projects, 13 of which were from the UK. 38% of these related to projects within transport and smart city development. The automotive and energy sectors have been beneficiaries beforehand, leading the European cycling organisation to ask “why not cycling?”

For those attending Eurobike, a series of conferences will be held, starting with a the Connected Cycling Conference in the Österreich room on the morning of August 29th at 10.30am. This event will give companies the opportunity to meet senior EU experts to discuss opportunities and will be followed by a seminar on EU funding for the bike business on Wednesday 30th at 2.30pm on the ADFC booth at the West Entrance.

On the 31st will be the SME Instrument seminar detailing how to gain access to the available funds. For this visitors should head to the Rom Room between 3.30 to 4.30pm.

The ECF has more detail here.