Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME)

Any donor
European Union
Geographical focus: 
Thematic focus: 
Tourism in general
Employment, decent work and capacity building in Tourism
Trade, Investment and Competitiveness in Tourism
Intro text: 
COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs) running from 2014 to 2020. The Executive Agency for Small and Medium-sized Enterprises (EASME) manages COSME on behalf of the European Commission.

Official website

Who can apply?

All legal persons, SMEs and young entrepreneurs within the EU can apply for funding.

Objectives and activities

Objective: the European Commission aims to promote entrepreneurship and improve the business environment for SMEs to allow them to realize their full potential in today’s global economy.


  • COSME aims to make it easier for small and medium-sized enterprises (SMEs) to access finance in all phases of their lifecycle – creation, expansion, or business transfer.
  • COSME helps businesses to access markets in the EU and beyond.
  • COSME supports entrepreneurs by strengthening entrepreneurship education, mentoring, guidance and other support services.
  • COSME aims to reduce the administrative and regulatory burden on SMEs by creating a business-friendly environment.

Type of tourism-related actions eligible for funding:

  • The COSME framework programme aims to enhance SME competitiveness, increase tourism demand, diversify offer and products, and enhance quality, sustainability, accessibility, skills and innovation.
    • Diversifying the EU tourism offer and products: promoting transnational thematic tourism products.

Type and level of funding

From 2014 to 2020 COSME has a planned budget of EUR 2,298.24 million. Part of the COSME budget will fund guarantees and counter-guarantees for financial intermediaries (e.g. guarantee organisations, banks, leasing companies) to help them provide more loan and lease finance to SMEs. Part of the COSME budget will be dedicated to investments in risk-capital funds that provide venture capital and mezzanine finance to expansion and growth-stage SMEs, in particular those operating across borders.

If you are an SME or an entrepreneur looking for debt or equity finance and would like to see which financial intermediaries are working with COSME, please visit the Access to Finance portal.

If you are a financial intermediary, you can find more information on the calls for expression of interest for the COSME financial instruments :