This report presents the findings of the Interim Evaluation of the COSME programme, assessing the relevance, effectiveness, coherence, efficiency and EU added value of the programme activities funded in the 2014-2016 period. The evaluation found a strong alignment of the COSME programme with the evolving needs of SMEs in Europe and a high relevance for the EU citizen in relation to jobs and growth creation. COSME has successfully set the building blocks for the attainment of the expected results. However, its contribution to the global competitiveness of enterprises and to sustainable and... inclusive growth could be strengthened. The use of COSME resources could be optimised: an overarching strategic framework would allow for a more balanced budget distribution and further enhance the internal coherence of the programme. There are no major overlaps of the programme activities with other policy initiatives, both at the EU and national and regional levels. However, for some actions, synergies and complementarity with other EU/national/regional actions could be improved. The EU dimension is at the core of the programme and critical for most actions.