Insights

Financial reporting in EU-funded projects is a structured and regulated process designed to ensure transparency, accountability and proper use of EU funds. Partners in so-called Actual cost projects need to submit financial reports every 12 or 18 months throughout the project duration. It is essential to prepare for the financial reporting from the first day of the project, to ensure calculation of costs is done correctly and proper records of all costs incurred are kept. It may take quite a bit of administrative effort, but when done properly from the start, it should not present any insurmountable hurdles! This is our overview based on our experience and the latest EU guidance and templates.

The newly established European Innovation Council’s Strategic Technologies for Europe Platform (STEP) Scale Up scheme offers significant funding opportunities for growth companies, SMEs and small mid-caps alike, as well as for investors applying on behalf of eligible companies. This new EU funding scheme has already proven very popular, should you also apply for it? Reach out to Spinverse to find out more about this opportunity and if your company is eligible.

Release your company’s potential with Spinverse. We can provide you with expert guidance for every stage of your innovation journey. One of the paths to accelerate your business is to make use of European equity and debt funding. Learn more about this option with us.

Backed by the Digital Europe Programme, the Robocoast European Digital Innovation Hub (EDIH) helps manufacturing SMEs adopt AI, cybersecurity and other digital technologies and drive sustainable growth and global competitiveness in the EU. For the first Robocoast EDIH project in 2022, Spinverse supported the consortium in articulating their vision and map out the impact on European scale. Again in 2025, Spinverse supported Robocoast in designing a continuation project. In this project, the focus will be on unlocking AI technologies to manufacturing SMEs across a wide range of verticals in Finland and beyond. 

SmartSpires, a EUR 3.1 million initiative co-funded by the EU’s Connecting Europe Facility (CEF), aims to turn Luxembourg’s Belval campus into a smart city living lab – a blueprint for cities across Europe. Spinverse supported the project consortium in the successful proposal preparation phase and upon the launch of the project, also provides project coordination services.

Spinverse recently hosted the Consortium and General Assembly Meeting of European Defence Fund (EDF) project ARCHYTAS in Finland. ARCHYTAS (Architectures based on Unconventional Accelerators for Dependable / Energy-Efficient AI Systems) is a EUR 20 million European Defence Fund (EDF) project led by IVECO Defence Vehicles and consisting of over 20 European partners advancing defence applications to boost more effective defence operations. 

Sumitomo SHI FW (SFW), a technology provider of integrated energy solutions for decarbonised energy, has been secured a Business Finland ‘Veturi’ funding of EUR 10 million for leading companies. Spinverse supported SFW during their project proposal phase with a successful outcome.

Nokia has been selected to lead PROACTIF, a project funded by the European Union’s Chips Joint Undertaking. The project aims to strengthen Europe’s technology resilience and leadership in ECS technologies and support the autonomy of the European Drone and Robotics industry. Spinverse provided the PROACTIF consortium with project proposal services at the project development phase and will support the PROACTIF project consortium in the project’s day-to-day management.

In recent years, cultural sectors across Europe have faced significant financial challenges. With the local funding drying up, the need for the sector to explore alternative sources of support, for example from the EU funding, has become more pressing. Here are some insights into the impact of funding cuts in Finland, Sweden and Germany, and into the potential of role of the EU in supporting cultural initiatives. Spinverse can provide advisory services to identify funding instruments for the culture sector. 

Ecocem is a pioneer of high-performance technology that significantly reduces CO₂ emissions in the cement and construction industries. As part of a consortium consisting of leading academic and industrial actors in Europe, Ecocem’s project was awarded EUR 4 million in research funding from the European Innovation Council (EIC). The grant is part of the EIC Pathfinder Challenge 2024 and will support work which aims to optimise the environmental compatibility of Electric Arc Furnace (EAF) slag for low-carbon cement.