SME Centre

What is an SME?

There is no universally agreed definition for micro, small and medium sized enterprises (commonly addressed as SMEs). It can be defined in three ways: on the number of employees; on the annual turnover; or on the annual balance sheet. The European definition of SMEs came into force in 2005 and serves as the basis for SME targeted European support initiatives. To see the European definition click: Show Hide

SMEs represent 99% of all enterprises in the EU and employ approximately 75 million people. In many sectors, SMEs are also drivers of innovation and competition. SMEs produce considerably more than half of the EU's GDP. 

High-tech SMEs, such as those working in the biotech sector, have the potential to make a vital contribution to the European economy, not only as providers of jobs, but also as a source of innovation, creativity and international competitiveness.

A specific characteristic of the biotech industry is the long and costly development process. While larger biotech firms already have products on the market, young, innovative biotech SMEs need significant funding to develop a product before commercialisation and for this a supportive policy and investment environment is needed.

What is the SME Platform?

EuropaBio’s SME Platform focuses its activities on highlighting challenges and financial constraints that biotech SMEs face, and developing policy recommendations to optimise EU and member state funding instruments for biotech SMEs.

The SME Platform brings together CEOs of SMEs, National Biotech Associations, venture capitalists and private banks, European financial institutions, representatives from the EC, and other interested stakeholders.

Join the SME core group!

If you are a CEO of a biotech SME and would like to get involved in forming our SME policies, and take part in meetings with stakeholders from European Institutions and financial organisations, then join our SME core group. For more information, please contact us at sme[at]europabio[dot]org.