2.5 Mio Euro for scaling our AR based Remote Expert solution

Corporate News | min. reading time

Aachen, Brussels, 14th of July 2019

Martin Plutz Blog oculavis
Finanzierung oculavis SME Instrument
After the successful application, we were able to convince the expert jury of the European Commission in Brussels of our project plan on 17th of May 2019 and received the approval of the funding of 2.5 million euros a few days ago. The project has a duration of 2.5 years, will officially start on 1st of August 2019 and has the goal of expanding our Remote Expert application oculavis SHARE to a fully scalable solution for industrial services. The major objective of the project is - besides further implementation of advanced AR and AI based features - the development of a Platform-as-a-Service infrastructure to enable the automatic licensing, cloud or on-premises setup and usage of oculavis SHARE. Accordingly, the automation of our internal business processes is also an important part of the project.

Meaning for oculavis GmbH

The support by the European Commission gives us an important impulse to strengthen our market position in Europe, to further scale our solution oculavis SHARE and to prepare the market entry into North America and Asia by the consistent implementation of the Platform-as-a-Service approach. The funding volume of EUR 1 million per year will be largely invested in personnel growth.

The EIC Accelerator (SME Instrument) of the EU

The SME Instrument is a support programme for innovative small and medium-sized enterprises (SME) in the EU's research framework programme HORIZON 2020 to scale promising products. The conditions for successful EU funding under the SME instrument are very demanding, which is why the programme is also referred to as the Champions League of innovative SMEs in Europe. With success rates in the range of only 1%, winning such a grant is an honour for any company and its development.
EU flag This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 872170.

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