The SME Instrument supports market-creating innovation in small and medium-sized businesses with significant growth potential and global ambitions. As part of Horizon 2020 – the EU’s €80 billion research and innovation funding programme – it will invest €3 billion in 7 500 companies until 2020. With around 47 000 applications received and over 3 200 small companies funded, in only four years the SME Instrument has emerged as an essential player on the European innovation scene. The SME Instrument impact report aims to provide first hand insights into the growth trends and profiles of the funded companies. Results and impacts observed in only four years are just a glimpse of the companies’ future potential. This report presents cumulative data from 2014 to end of 2017. The sources and methodology are explained in full detail in the main Report.