A new Horizon 2020 project, MPowerBio, kicked-off on 1 May with the objective of benefiting European clusters and their SME members. MPowerBIO aims to set up and implement a capacity building programme for SME clusters along with an integrated business support programme for the SME members. This project has received funding under the Bio-Based Industries Joint Undertaking under the European Union's Horizon 2020 Research and Innovation Programme. The goal is to establish empowering clusters that can raise awareness and improve investment readiness and pitching skills of their SME members as well as build links with investors. The project will run for 30 months and will be implemented by nine strong European partners led by Agro Business Park A/S, Denmark.

The current economic states resulted by the COVID-19 pandemic has encouraged the objectives of the project to become even more relevant and important with many SMEs struggling for capital and growth. Developing the competences of SMEs will contribute to overcoming the "Valley of Death" or critical economic growth state in which they have been thrown. Thus, MPowerBIO intends to pursue the following SMART objectives:

• Co-design a capacity building and business support programmes;
• Empowering 90 clusters to provide business support to 250 SMEs;
• Develop online tools to support the assessment of investment readiness;
• Organise an e-learning tool for capacity building and training;
• Foster regional competitions to build pitching skills;
• Arrange pan-European final events; and
• Boost 72 SMEs to develop relations with investors and potential partners.

To express your interest and discuss this topic in the COVID-19 Forum, please click here.