Outputs and Results
FREED - an energy innovation development service
The overall project output that was developed in the project is an energy innovation development service. This offers SMEs extensive support required to develop their energy innovations faster than with the existing support mechanisms available. There is numerous organisations and incentives throughout the NPA regions, which help aspiring entreprenuers to develop their businesses and move forward. However, these do not target SMEs dealing specifically with energy innovations. Another issue, which they do not address in a similar way as FREED service does, is to bring funding, and private funding in particular, into the picture. This helps and speeds up the process significantly, as the support mechanisms are streamlined and the SMEs have easier access to funding in key milestones of the innovation development.
The FREED service is an online platform, which has been developed in cooperation with SMEs in the NPA region dealing with energy innovations. The service provides information about the funding available for SMEs and also about the business support organisations operating in the regions, which can offer additional assistance. The SMEs are able to search the funding directory to find those funding instruments, which match the SMEs needs. There is also other material and documents, which can help the businesses to improve their business planning, etc. There is also information about the companies, which have gone through the FREED process, and how they have benefited from the project.
With the help of FREED service it is possible to shorten the time that an energy innovation needs to transform from a low technology readiness level item into commercial products. This will help the SMEs to move from one corner of the NPA region to another, or even to wider markets in the Europe or in the rest of the world.
The FREED service platform is available at www.freedproject.eu