EASME - EU Executive Agency for SMEs

The Executive Agency for Small and Medium-sized Enterprises (EASME) was an executive agency of the European Union, operational from 2014 until its dissolution on April 1, 2021. Established by the European Commission, its primary mandate was to manage various EU programmes aimed at fostering competitiveness, innovation, and sustainability among European SMEs. EASME played a crucial role in implementing policies and allocating funds across diverse sectors, acting as a bridge between EU initiatives and the businesses they sought to support. Its operations were focused on programme management and grant administration rather than traditional venture capital equity investments.

Among its most significant responsibilities, EASME managed the SME Instrument under the Horizon 2020 framework, a flagship programme designed to support highly innovative SMEs with growth potential. This instrument provided direct grants in two phases: Phase 1 offered a lump sum of €50,000 for feasibility studies, while Phase 2 provided substantial funding, typically ranging from €0.5 million to €2.5 million, for R&D, demonstration, and market replication activities. Beyond direct grants, EASME also oversaw the Competitiveness of Enterprises and SMEs (COSME) programme, which facilitated access to finance for SMEs through loan guarantees and equity instruments, often implemented via financial intermediaries like the European Investment Fund (EIF).

EASME's portfolio extended to other vital EU programmes, including parts of the LIFE programme for environmental and climate action, and the European Maritime and Fisheries Fund (EMFF). The agency's work significantly contributed to the European Union's innovation agenda, supporting thousands of SMEs across various stages of development. Upon its dissolution, EASME's functions were largely absorbed by successor agencies, primarily the European Innovation Council and SMEs Executive Agency (EISMEA) and the European Climate, Infrastructure and Environment Executive Agency (CINEA), ensuring continuity in the EU's support for SMEs and innovation.