Why some countries are more successful than others at securing European research and innovation grants is a question that has recently received significant attention in the research and policy communities. This article helps answer this question by investigating the role of firms in securing financial returns from EU Framework Programmes. More specifically, it explores how three firm characteristics – size, industrial sector, and country – can lead to increased participation in and larger grants from EU projects. The analysis is carried out using logistic and linear regressions on a combined data set consisting of data on Framework Programmes participation and firm characteristics. The analysis presents results for firms from four Nordic countries – Denmark, Finland, Norway, and Sweden – and their involvement in Horizon 2020.