This document discusses the role of the European Investment Bank (EIB) in financing innovation and research and development (RDI) in Europe. It notes that Europe lags behind the US and Japan in RDI investment and innovation. The EIB aims to address this gap by providing various financial instruments to support RDI, including loans, equity investments, and risk-sharing facilities. One such facility is the Risk Sharing Finance Facility (RSFF), which the EIB uses to mobilize private sector funding for RDI projects through risk-sharing arrangements. To date, the RSFF has supported over €18 billion in investments with a combined public-private contribution of €1.23 billion.
Photonics is a key pervasive technology that enables innovative and revolutionary solutions and products in diverse markets such as lifescience, agrofood, healthcare, security, defence, consumer, environment, energy, telecom/datacom…
The photonics industry is going through a transformation due to the maturity of the technologies and the fact that the implementation of these mature technologies is economically viable. The industry is going through numerous acquisitions, and there are many companies raising capital (www.epic-assoc.com/funding/venture-finance – spreadsheets “List of investments in photonics” & “List of M&A in photonics”).
Yet the photonics industry is hard to navigate both because of the vast amount of companies (there are 5000 companies in Europe involved in Photonics but 86% of them are SMEs), and the intrinsic fact that there are no ‘photonics’ companies but rather companies that develop sensors, lasers, optics, fibres, photonic integrated circuits, …
Giorgio Anania Photonics Venture Capital Initiatives in Europe Financing Phot...EPIC Photonics Investing
Photonics is a key pervasive technology that enables innovative and revolutionary solutions and products in diverse markets such as lifescience, agrofood, healthcare, security, defence, consumer, environment, energy, telecom/datacom…
The photonics industry is going through a transformation due to the maturity of the technologies and the fact that the implementation of these mature technologies is economically viable. The industry is going through numerous acquisitions, and there are many companies raising capital (www.epic-assoc.com/funding/venture-finance – spreadsheets “List of investments in photonics” & “List of M&A in photonics”).
Yet the photonics industry is hard to navigate both because of the vast amount of companies (there are 5000 companies in Europe involved in Photonics but 86% of them are SMEs), and the intrinsic fact that there are no ‘photonics’ companies but rather companies that develop sensors, lasers, optics, fibres, photonic integrated circuits, …
The European Investment Bank (EIB) provides various financing facilities and technical assistance throughout Europe to support projects aligned with EU policy objectives. The EIB raises funds on capital markets and lends them on favorable terms. It provides loans, guarantees, equity investments and funds for sectors like infrastructure, SMEs, innovation and climate action. Loans can finance over 50% of project costs and are provided directly for large projects, or indirectly via intermediaries for smaller projects. The EIB operates on a non-profit basis and its strong credit rating allows it to lend at low costs.
The Deep Tech Europe Report focuses on the results and impacts of the EIC legacy programmes (SME Instrument and FET) and reveals the ins and outs of the EIC Accelerator and EIC Pathfinder funding schemes. Discover below the key numbers from the EIC portfolio in 2020.
The EU’s Executive Agency for Small and Medium-sized Enterprises (EASME) brings EU funding to innovative
projects that create jobs and growth, protect the environment
and work towards sustainable development.
Our job is to make sure that EU funding reaches the
right people, is properly spent, has a concrete impact on
the ground and makes a meaningful difference to the
lives of EU citizens.
EASME implements the European Commission's policies
and programmes on behalf of its departments.
The document discusses European financial instruments that support research and innovation (R&I). It describes the Risk-Sharing Finance Facility (RSFF), which provides risk-sharing loans to support R&I projects and is supported by the EU's 7th Framework Programme for Research. The RSFF aims to mobilize private capital by combining EU funds with financing from the European Investment Bank Group. As of 2010, it had approved over EUR 7.6 billion in loans for 67 projects across 21 European countries.
A brief introduction of Horizon 2020 and focus on SCoRE Cymru which provides grants in order to stimulate participation by Wales-based organisations in European collaborative research and innovation and in particular the European Union Research programmes within Horizon 202
Photonics is a key pervasive technology that enables innovative and revolutionary solutions and products in diverse markets such as lifescience, agrofood, healthcare, security, defence, consumer, environment, energy, telecom/datacom…
The photonics industry is going through a transformation due to the maturity of the technologies and the fact that the implementation of these mature technologies is economically viable. The industry is going through numerous acquisitions, and there are many companies raising capital (www.epic-assoc.com/funding/venture-finance – spreadsheets “List of investments in photonics” & “List of M&A in photonics”).
Yet the photonics industry is hard to navigate both because of the vast amount of companies (there are 5000 companies in Europe involved in Photonics but 86% of them are SMEs), and the intrinsic fact that there are no ‘photonics’ companies but rather companies that develop sensors, lasers, optics, fibres, photonic integrated circuits, …
Giorgio Anania Photonics Venture Capital Initiatives in Europe Financing Phot...EPIC Photonics Investing
Photonics is a key pervasive technology that enables innovative and revolutionary solutions and products in diverse markets such as lifescience, agrofood, healthcare, security, defence, consumer, environment, energy, telecom/datacom…
The photonics industry is going through a transformation due to the maturity of the technologies and the fact that the implementation of these mature technologies is economically viable. The industry is going through numerous acquisitions, and there are many companies raising capital (www.epic-assoc.com/funding/venture-finance – spreadsheets “List of investments in photonics” & “List of M&A in photonics”).
Yet the photonics industry is hard to navigate both because of the vast amount of companies (there are 5000 companies in Europe involved in Photonics but 86% of them are SMEs), and the intrinsic fact that there are no ‘photonics’ companies but rather companies that develop sensors, lasers, optics, fibres, photonic integrated circuits, …
The European Investment Bank (EIB) provides various financing facilities and technical assistance throughout Europe to support projects aligned with EU policy objectives. The EIB raises funds on capital markets and lends them on favorable terms. It provides loans, guarantees, equity investments and funds for sectors like infrastructure, SMEs, innovation and climate action. Loans can finance over 50% of project costs and are provided directly for large projects, or indirectly via intermediaries for smaller projects. The EIB operates on a non-profit basis and its strong credit rating allows it to lend at low costs.
The Deep Tech Europe Report focuses on the results and impacts of the EIC legacy programmes (SME Instrument and FET) and reveals the ins and outs of the EIC Accelerator and EIC Pathfinder funding schemes. Discover below the key numbers from the EIC portfolio in 2020.
The EU’s Executive Agency for Small and Medium-sized Enterprises (EASME) brings EU funding to innovative
projects that create jobs and growth, protect the environment
and work towards sustainable development.
Our job is to make sure that EU funding reaches the
right people, is properly spent, has a concrete impact on
the ground and makes a meaningful difference to the
lives of EU citizens.
EASME implements the European Commission's policies
and programmes on behalf of its departments.
The document discusses European financial instruments that support research and innovation (R&I). It describes the Risk-Sharing Finance Facility (RSFF), which provides risk-sharing loans to support R&I projects and is supported by the EU's 7th Framework Programme for Research. The RSFF aims to mobilize private capital by combining EU funds with financing from the European Investment Bank Group. As of 2010, it had approved over EUR 7.6 billion in loans for 67 projects across 21 European countries.
A brief introduction of Horizon 2020 and focus on SCoRE Cymru which provides grants in order to stimulate participation by Wales-based organisations in European collaborative research and innovation and in particular the European Union Research programmes within Horizon 202
The document discusses proposed changes to EU Structural Fund regulations for 2014-2020. It summarizes feedback from the Nordic-European Public Investor Initiative, representing 11 national public investors, on increasing support for financial instruments to boost European competitiveness. Specific suggestions include aligning fund life cycles with programming periods, allowing follow-on investing beyond periods, adopting market-based management fees, and broadening the focus of managing authorities beyond individual member states. The initiative will submit a joint response to the EU Commission's consultation on the draft regulations.
Yksi European Bioeconomy Scene -konferenssin puheista.
One of the speeches in European Bioeconomy conference.
Konferenssin ohjelma/Conference programme: https://www.bioeconomy.fi/wp-content/uploads//2019/06/EUBioScene_programme.pdf
This document discusses smart specialization and its role in EU cohesion policy. Smart specialization involves developing regional strategies to prioritize and focus investments in areas of existing or emerging competitive advantage. It aims to build on regional strengths through entrepreneurial discovery, partnerships, and innovation-led diversification. Clusters play an important role by helping regions identify competitive sectors and opportunities at the interface of related industries. Challenges include gaining stakeholder support, balancing strategic focus with opportunities across sectors, and pooling regional resources for greater impact.
This document outlines key provisions for financial instruments in Cohesion Policy for 2014-2020. It discusses expanding the scope of financial instruments to all thematic objectives, strengthening the combination of financial instruments and grants, and requiring ex-ante assessments. It also covers implementation principles at the EU and national/regional levels, co-financing and phased contributions, financial management of EU contributions, use of legacy resources after closure, and reporting requirements.
The document discusses the European Union's efforts to close its innovation gap with competitors like the United States and emerging economies such as China. It outlines the EU's strategic approach through the Innovation Union initiative to improve framework conditions for start-ups and early-stage innovation through measures like the Risk Sharing Finance Facility and proposals to improve access to venture capital across borders. The EU aims to better leverage public and private funding to boost investment in skills, education, research and innovation.
This document is the 2012 annual report of the European Investment Bank (EIB) Facility for Euro-Mediterranean Investment and Partnership (FEMIP). In 2012, FEMIP provided increased support to Mediterranean partner countries adapting to democratic transitions, focusing on projects supporting socially cohesive and economically strong societies. FEMIP signed €1.7 billion in new projects and €11.8 million in technical assistance, with record disbursements of €1.5 billion. FEMIP strengthened partnerships for the region including through the Deauville Partnership and an EU-Egypt Task Force. The future 2014-2020 mandate for EEMIP operations will focus on stability and socioeconomic development in the region.
1) The speech highlights Finland's strong record in research and innovation and encourages them to take advantage of opportunities in Horizon 2020, the EU's new research and innovation program.
2) Horizon 2020 aims to simplify funding access and provide coherent support from research to market uptake. It will focus on societal challenges and increasing business and private sector participation.
3) Finland is praised for its high R&D investment and scientific quality but encouraged to further diversify its economy and boost innovative enterprises
The World Bank document discusses developing attractive innovation environments through clusters and centers of expertise. It focuses on the EU 2020 strategy of smart, sustainable, and inclusive growth achieved through innovation. Universities play a key role in synergizing research, education, and innovation. Regional innovation ecosystems are encouraged to focus on knowledge transfer between universities, industries, and cities through modernized triple helix cooperation and living labs.
Los días 13 y 14 de marzo de 2014, la Fundación Ramón Areces organizó con el Instituto de Estudios de la Innovación (IREIN) y el Foro de Empresas Innovadoras una jornada sobre 'Nuevos enfoques sobre políticas de innovación'. Contó con la intervención de destacados expertos internacionales como Luc Soete, rector de la Universidad de Maastricht; Julia Lane, del American Institutes for Research (AIR) de Estados Unidos; Giovanni Dosi, del Institute of Economics de la Scuola Superiore Sant'Anna (Italia); Daniele Archibugi, del CNRS y del Birkbeck College de la University of London; John Cantwell, del Rutgers Business School de Rutgers University (Estados Unidos); Jorge Katz, de la Universidad de Chile; Tom Hockaday, del ISIS Innovation de la Universidad de Oxford (Reino Unido), y Johan Schot, del Science and Technology Policy Research de la University of Sussex (Reino Unido).
This document discusses university-industry partnerships and strategies to improve them. The key points are:
1. Universities aim to disseminate knowledge through teaching and research while also improving graduate employability and attracting resources. However, universities and industry operate differently.
2. Successful partnerships involve training students for employability and entrepreneurship through internships, collaborative research projects, and programs like FIE that develop entrepreneurial skills.
3. The CIFRE program facilitates doctoral research collaborations between academic labs and companies. Over half of CIFRE graduates are later hired by their partner companies.
4. Technology transfer organizations like SATTs and the Carnot Institute network help connect public research to industry through licensing
Creative & Cultural Skills is an organization that works to improve opportunities for young people to work in the creative industries in the UK. They lead the National Skills Academy for Creative & Cultural, a network of creative businesses and training providers committed to high-quality creative education. The creative industries contribute significantly to the UK economy, generating over £70,000 per minute, but there are still skills gaps and high youth unemployment. The document argues that greater career guidance, work experience opportunities, vocational training like apprenticeships, and business incubation are needed to help young people develop skills and find jobs in the growing creative sector.
The European Investment Bank has over 50 years of experience supporting development policies in Africa, the Caribbean, and Pacific regions. It has invested over EUR 18 billion in more than 1,300 projects. The EIB is committed to supporting private sector development and infrastructure projects in these regions, in line with EU objectives. The EIB focuses on projects that have a strong development impact and reduce poverty, with priority given to least developed countries and those affected by disasters or conflicts.
The document summarizes a pilot activity in the Czech Republic that aimed to introduce entrepreneurship education through an e-learning program for career counselors and teachers. 10 schools participated in focus groups, an e-learning program, and mentoring sessions introducing concepts like entrepreneurship, creativity, and career management skills. Student and teacher feedback found the program increased understanding of entrepreneurship and improved students' skills like creative thinking, presentation skills, and teamwork. The program was found to be most impactful when supplemented by meetings with real entrepreneurs.
The document discusses European funding opportunities for Saxion University, including current (2011-2013) and future (post-2014) EU funding programs. It outlines Saxion's areas of expertise and how they match with the technology development, applied science, and exploratory science priorities of different EU funding initiatives. It also discusses building international consortia to bring together complementary expertise and capacities from different countries and organizations to strengthen funding applications.
The document describes an online business competition for creative industries hosted by the CENTRES project. Students submitted business ideas as PowerPoint presentations and the best ideas were selected to present at a forum. The competition topics involved developing marketing campaigns, retail concepts, communication plans, and a mobile game app. Selection criteria included the quality of the presentation, feasibility of the business idea, and clear communication of the main idea.
The document discusses EU funding opportunities for creative industries through the Creative Europe Programme. The general objectives are to promote cultural and linguistic diversity, strengthen competitiveness of cultural and creative sectors, and foster transnational cooperation. Specific objectives include strengthening the financial capacity of creative sector SMEs and professionals. One way this is done is through the Creative Europe Guarantee Facility, which provides guarantees to banks that offer loans to creative sector organizations, helping to mobilize up to €700 million in bank loans with a €121 million fund. The facility also aims to build capacity for banks to evaluate creative sector projects through training and expertise sharing.
The document discusses supporting the creative industries in Europe. It notes that the creative industries offer over 6 million jobs and represent 2.7% of EU GDP. They are politically supported due to their economic importance, positive effects on other industries, and ability to change a region's image. However, supporting them requires new tools that address their heterogeneity, dependence on economic conditions, small business nature, innovation outside of research, and increasing export focus. The European Commission proposes a European Creative Industries Alliance to provide cooperation, awareness, and concrete public-private partnerships around innovation support, access to finance, and cluster excellence.
Ramon Alfonseda, President, European Former Football Players Association; For...European Journalism Centre
This document discusses how sport can enhance social values in society. It aims to guarantee a decent life for former athletes in need through social, educational, medical and economic support. It also aims to promote and pass on the pedagogical and social values of sport, such as compromise, responsibility, tolerance and social integration, to society. The experience of former athletes can guide and coach people, and keeping them involved in sport through sessions and competitions also helps transfer these values to new generations.
The document discusses proposed changes to EU Structural Fund regulations for 2014-2020. It summarizes feedback from the Nordic-European Public Investor Initiative, representing 11 national public investors, on increasing support for financial instruments to boost European competitiveness. Specific suggestions include aligning fund life cycles with programming periods, allowing follow-on investing beyond periods, adopting market-based management fees, and broadening the focus of managing authorities beyond individual member states. The initiative will submit a joint response to the EU Commission's consultation on the draft regulations.
Yksi European Bioeconomy Scene -konferenssin puheista.
One of the speeches in European Bioeconomy conference.
Konferenssin ohjelma/Conference programme: https://www.bioeconomy.fi/wp-content/uploads//2019/06/EUBioScene_programme.pdf
This document discusses smart specialization and its role in EU cohesion policy. Smart specialization involves developing regional strategies to prioritize and focus investments in areas of existing or emerging competitive advantage. It aims to build on regional strengths through entrepreneurial discovery, partnerships, and innovation-led diversification. Clusters play an important role by helping regions identify competitive sectors and opportunities at the interface of related industries. Challenges include gaining stakeholder support, balancing strategic focus with opportunities across sectors, and pooling regional resources for greater impact.
This document outlines key provisions for financial instruments in Cohesion Policy for 2014-2020. It discusses expanding the scope of financial instruments to all thematic objectives, strengthening the combination of financial instruments and grants, and requiring ex-ante assessments. It also covers implementation principles at the EU and national/regional levels, co-financing and phased contributions, financial management of EU contributions, use of legacy resources after closure, and reporting requirements.
The document discusses the European Union's efforts to close its innovation gap with competitors like the United States and emerging economies such as China. It outlines the EU's strategic approach through the Innovation Union initiative to improve framework conditions for start-ups and early-stage innovation through measures like the Risk Sharing Finance Facility and proposals to improve access to venture capital across borders. The EU aims to better leverage public and private funding to boost investment in skills, education, research and innovation.
This document is the 2012 annual report of the European Investment Bank (EIB) Facility for Euro-Mediterranean Investment and Partnership (FEMIP). In 2012, FEMIP provided increased support to Mediterranean partner countries adapting to democratic transitions, focusing on projects supporting socially cohesive and economically strong societies. FEMIP signed €1.7 billion in new projects and €11.8 million in technical assistance, with record disbursements of €1.5 billion. FEMIP strengthened partnerships for the region including through the Deauville Partnership and an EU-Egypt Task Force. The future 2014-2020 mandate for EEMIP operations will focus on stability and socioeconomic development in the region.
1) The speech highlights Finland's strong record in research and innovation and encourages them to take advantage of opportunities in Horizon 2020, the EU's new research and innovation program.
2) Horizon 2020 aims to simplify funding access and provide coherent support from research to market uptake. It will focus on societal challenges and increasing business and private sector participation.
3) Finland is praised for its high R&D investment and scientific quality but encouraged to further diversify its economy and boost innovative enterprises
The World Bank document discusses developing attractive innovation environments through clusters and centers of expertise. It focuses on the EU 2020 strategy of smart, sustainable, and inclusive growth achieved through innovation. Universities play a key role in synergizing research, education, and innovation. Regional innovation ecosystems are encouraged to focus on knowledge transfer between universities, industries, and cities through modernized triple helix cooperation and living labs.
Los días 13 y 14 de marzo de 2014, la Fundación Ramón Areces organizó con el Instituto de Estudios de la Innovación (IREIN) y el Foro de Empresas Innovadoras una jornada sobre 'Nuevos enfoques sobre políticas de innovación'. Contó con la intervención de destacados expertos internacionales como Luc Soete, rector de la Universidad de Maastricht; Julia Lane, del American Institutes for Research (AIR) de Estados Unidos; Giovanni Dosi, del Institute of Economics de la Scuola Superiore Sant'Anna (Italia); Daniele Archibugi, del CNRS y del Birkbeck College de la University of London; John Cantwell, del Rutgers Business School de Rutgers University (Estados Unidos); Jorge Katz, de la Universidad de Chile; Tom Hockaday, del ISIS Innovation de la Universidad de Oxford (Reino Unido), y Johan Schot, del Science and Technology Policy Research de la University of Sussex (Reino Unido).
This document discusses university-industry partnerships and strategies to improve them. The key points are:
1. Universities aim to disseminate knowledge through teaching and research while also improving graduate employability and attracting resources. However, universities and industry operate differently.
2. Successful partnerships involve training students for employability and entrepreneurship through internships, collaborative research projects, and programs like FIE that develop entrepreneurial skills.
3. The CIFRE program facilitates doctoral research collaborations between academic labs and companies. Over half of CIFRE graduates are later hired by their partner companies.
4. Technology transfer organizations like SATTs and the Carnot Institute network help connect public research to industry through licensing
Creative & Cultural Skills is an organization that works to improve opportunities for young people to work in the creative industries in the UK. They lead the National Skills Academy for Creative & Cultural, a network of creative businesses and training providers committed to high-quality creative education. The creative industries contribute significantly to the UK economy, generating over £70,000 per minute, but there are still skills gaps and high youth unemployment. The document argues that greater career guidance, work experience opportunities, vocational training like apprenticeships, and business incubation are needed to help young people develop skills and find jobs in the growing creative sector.
The European Investment Bank has over 50 years of experience supporting development policies in Africa, the Caribbean, and Pacific regions. It has invested over EUR 18 billion in more than 1,300 projects. The EIB is committed to supporting private sector development and infrastructure projects in these regions, in line with EU objectives. The EIB focuses on projects that have a strong development impact and reduce poverty, with priority given to least developed countries and those affected by disasters or conflicts.
The document summarizes a pilot activity in the Czech Republic that aimed to introduce entrepreneurship education through an e-learning program for career counselors and teachers. 10 schools participated in focus groups, an e-learning program, and mentoring sessions introducing concepts like entrepreneurship, creativity, and career management skills. Student and teacher feedback found the program increased understanding of entrepreneurship and improved students' skills like creative thinking, presentation skills, and teamwork. The program was found to be most impactful when supplemented by meetings with real entrepreneurs.
The document discusses European funding opportunities for Saxion University, including current (2011-2013) and future (post-2014) EU funding programs. It outlines Saxion's areas of expertise and how they match with the technology development, applied science, and exploratory science priorities of different EU funding initiatives. It also discusses building international consortia to bring together complementary expertise and capacities from different countries and organizations to strengthen funding applications.
The document describes an online business competition for creative industries hosted by the CENTRES project. Students submitted business ideas as PowerPoint presentations and the best ideas were selected to present at a forum. The competition topics involved developing marketing campaigns, retail concepts, communication plans, and a mobile game app. Selection criteria included the quality of the presentation, feasibility of the business idea, and clear communication of the main idea.
The document discusses EU funding opportunities for creative industries through the Creative Europe Programme. The general objectives are to promote cultural and linguistic diversity, strengthen competitiveness of cultural and creative sectors, and foster transnational cooperation. Specific objectives include strengthening the financial capacity of creative sector SMEs and professionals. One way this is done is through the Creative Europe Guarantee Facility, which provides guarantees to banks that offer loans to creative sector organizations, helping to mobilize up to €700 million in bank loans with a €121 million fund. The facility also aims to build capacity for banks to evaluate creative sector projects through training and expertise sharing.
The document discusses supporting the creative industries in Europe. It notes that the creative industries offer over 6 million jobs and represent 2.7% of EU GDP. They are politically supported due to their economic importance, positive effects on other industries, and ability to change a region's image. However, supporting them requires new tools that address their heterogeneity, dependence on economic conditions, small business nature, innovation outside of research, and increasing export focus. The European Commission proposes a European Creative Industries Alliance to provide cooperation, awareness, and concrete public-private partnerships around innovation support, access to finance, and cluster excellence.
Ramon Alfonseda, President, European Former Football Players Association; For...European Journalism Centre
This document discusses how sport can enhance social values in society. It aims to guarantee a decent life for former athletes in need through social, educational, medical and economic support. It also aims to promote and pass on the pedagogical and social values of sport, such as compromise, responsibility, tolerance and social integration, to society. The experience of former athletes can guide and coach people, and keeping them involved in sport through sessions and competitions also helps transfer these values to new generations.
Artur Runge-Metzger, Director for climate strategy and international negotiat...European Journalism Centre
The document summarizes the outcomes of the COP16/CMP6 climate conference in Cancun and discusses next steps. It notes that Cancun delivered a balanced package that addressed key issues, anchored pledges, and established governance structures. However, it left some gaps around legal form, ambition levels, and long-term finance. In 2011, parties should focus on implementing pledges and operationalizing Cancun agreements, while also working to close remaining gaps and negotiate a legally binding framework. The EU is on track domestically but more work is needed globally to limit warming to 2 degrees and transition to low-carbon economies.
The RELATE project is a European Commission-funded program that places journalists in research labs to promote public understanding of science and help scientists communicate with the media. The project involves partners from Italy, Switzerland, Turkey, and the Netherlands. Journalists will spend time in labs, write about their experiences, and produce articles or videos to publish. The goal is to translate complex research and explore its benefits and impacts and make science more accessible and interesting to non-experts. The best publications will win an award and their authors will participate in a final workshop to discuss the results and future collaborations between media and research.
Gudrun Paulsdottir, World class education: Maximising the performance and int...European Journalism Centre
The document discusses the Modern European Platform project which aims to support the modernization of higher education management in Europe. The project has 10 core partners and 31 associate organizations. It seeks to create an open European platform to disseminate information, provide higher education management training, and support higher education institutions in their modernization processes. The project activities include mapping training programs, surveying training needs, developing an online tool listing training providers, and organizing leadership workshops and conferences. Transparency tools under development include classification and benchmarking tools to help institutions understand their performance and identify areas for improvement.
1) The RELATE project expanded from 3 to 12 institutes over 18 months, demonstrating an ability to attract new laboratories and confirming its potential sustainability.
2) Participants in the project came from 23 countries and wrote in 17 languages, with over half being female. All participants were placed at foreign laboratories.
3) Over a quarter of participants had their work published in specialist or mainstream media outlets. Others published reviews on websites of national science writer associations.
4) The assessment found that while the study tours were generally positive, some participants noted a need for greater journalistic support on-site to balance the scientific focus of the host laboratories.
Claudio Vitali, Building partnerships with real impact for labour market: Imp...European Journalism Centre
The document discusses improving youth employment in Europe through better matching of vocational education and training to labor market needs. It focuses on two areas: 1) Ensuring training is informed by labor market intelligence so it is responsive to economic and social changes. This requires partnership between education, employers, and other stakeholders. 2) Ensuring quality in transnational mobility programs by preparing participants, recognizing skills gained, and involving employers. A survey found mobility increased employability, career choices, and language skills, but programs need better design and longer durations.
The article criticizes Amsterdam's plans to become a "smart city" and implement new technologies without clear goals or benefits. It argues the vision lacks substance and focuses too much on technology for its own sake rather than how it can genuinely improve lives. In short, the plans have no real point beyond buzzwords and catching hype trains around new tech trends.
The European Investment Bank (EIB) provides financing to projects that promote European Union objectives. Due to risk aversion following the financial crisis, many infrastructure projects face difficulties obtaining financing. The EIB addresses this issue by providing long-term loans to both public and private sectors. It utilizes tools like loans, guarantees, and equity to support sustainable development and economic recovery in Europe. The EIB appraises projects based on their consistency with EU priorities, technical quality, and financial viability.
The document summarizes photonics finance in Europe. It notes that while the photonics market and opportunity is large and growing, current investment levels are around €700 million per year which is around 10x less than what is needed. Efforts are underway through the Photonics21 PPP task force to better understand financing opportunities and bring more money into the photonics sector in Europe, potentially from sources like the European Investment Bank.
Zecchini Financing Sme Innovation Sz Slides 15 4 09nick terch
The document discusses challenges SMEs face in financing innovation during an economic downturn. It notes SMEs, especially innovative ones, are harder hit than large firms due to higher risk and weaker finances. However, SMEs are important for long-term growth. The document focuses on the scale of financial problems for R&D and innovation at SMEs, common obstacles, and solutions adopted in OECD countries like loan guarantees, tax incentives, and public-private partnerships.
The document discusses strengthening small and medium-sized enterprise (SME) financing in Europe through capital markets and public financial institutions. It notes that capital market financing for SMEs is underdeveloped in Europe compared to the US due to lack of market infrastructure, limited SME participation, and insufficient investor supply. The document outlines policy actions needed to develop market infrastructure, boost SME demand, and increase investor participation. It also discusses the potential role of public financial institutions in streamlining resources to increase financing availability and awareness for SMEs.
Horizon 2020 SME Instrument: financing your innovative business with EU fundsSviatoslav Sviatnenko
The document provides an overview of financing innovative businesses through EU funds, specifically the Horizon 2020 program. It discusses the Horizon 2020 SME Instrument, which provides grants of €0.5-2.5 million for demonstration and commercialization projects. The success rate is around 6%. The summary also highlights a Ukrainian company that received €1.2 million in funding through the SME Instrument for their cloud-based photovoltaic workflow project. The funding will help the company enter the European market and contribute to the competitiveness of the European microelectronics industry.
The World Circular Economy Forum presents the world’s best circular economy solutions and gathers together the most recognised experts and decision makers in the field. The event is organised by the Finnish Innovation Fund Sitra. Read more: www.wcef2019.com
FINANCING AGENCY FOR SOCIAL ENTREPRENEURSHIP: CREATING COLLABORATIVE HYBRID F...OECD CFE
This document discusses financing models for social enterprises. It notes a strategic financing gap for early stage social enterprises that are too large for philanthropists but too small and risky for institutional investors. It introduces FASE, a financial intermediary in Germany that builds bridges between social entrepreneurs and investors. FASE has provided over 4 million Euros to 12 social enterprises through various hybrid financing models that blend grants and impact investments. These models allow financing of social enterprises both with and without profitability. The document also summarizes two international examples where FASE helped social enterprises in Austria obtain financing. It concludes with policy recommendations to further develop markets for social enterprise finance.
The document discusses a project to improve the efficiency of monetary expansion in the Eurozone by involving the European Investment Bank (EIB). It presents some key premises of the project, including that EIB involvement could help direct resources from monetary expansion more effectively to the real economy. It outlines potential ways the EIB could be involved, such as through loans from the ECB to the EIB or a fund managed by the EIB. The document also discusses some of the main policy issues involved, such as ensuring compatibility with the ECB's price stability objectives, and challenges for the project related to technical and institutional factors.
Horizon 2020 for SMEs - ttopstart, the Horizon 2020 expertsttopstart B.V.
Horizon 2020 is the foremost non-dilutive funding opportunity for research-intensive industry to finance and accelerate research and innovation activities. The aim of Horizon 2020 is to advance scientific knowledge and discovery, while securing Europe’s growth and global competitiveness through stronger involvement of industry and in particular SMEs.
Cleantech Venture Day 2015 - Cleantech and Impact Investing SentErik Wijnbladh
The document discusses impact investing and the European Investment Fund (EIF). It provides the following key points:
1) The EIF is a leading developer of risk financing for entrepreneurship and innovation in Europe, having mobilized over EUR 77 billion with other market players and committed over EUR 8.8 billion to venture capital and growth funds.
2) The EIF is Europe's largest investor in European venture capital, having invested in over 260 funds, 3,800 portfolio companies, and established relationships with over 170 venture capital fund managers.
3) Impact investing aims to intentionally generate measurable benefits for society while also seeking financial returns. It requires a focus on both impact and profit orientation.
EU External Investment Plan EaP Business Forum-f.capurso 27slidesRostyslav LUKACH
The External Investment Plan is a new initiative to boost investment in partner countries and address issues like migration. It takes an integrated three pillar approach focusing on innovative financing, technical assistance, and improving the investment climate. A key aspect is the European Fund for Sustainable Development, which provides an EU guarantee to leverage more private investment in priority areas like SMEs and clean energy. The plan aims to help close the major estimated investment gaps needed to achieve development goals through crowding in private resources and promoting a business friendly environment. Private actors are encouraged to engage through upcoming one-stop shops and structured policy dialogues to help remove constraints on investment.
European financing schemes under h2020 & cosme - Workshop on Juncker plan - B...Rodolphe d'Udekem d'Acoz
The document summarizes various European financing schemes available through programs like COSME and Horizon 2020. It provides an overview of 14 main schemes, describing their purpose, financing details, availability, budget and target recipients. It also notes limited access to these schemes in Belgium and calls for more effort to market schemes to intermediaries and make public funds available to match EU financing.
This report presents the market performance of the EIC Accelerator pilot (formerly known as Horizon 2020 SME Instrument). It shows the evolution and performance of the companies selected under the EIC Accelerator pilot from 2014-2019. Investors, corporates and procurers will discover why and how to work with the EIC portfolio.
European Innovation-Which Role for the European Commission? Sven Schade Europ...Burton Lee
The European Commission plays a role in coordinating innovation policy among the 27 EU member states and other countries, which have varying sizes, populations, economies, and innovation needs. The Commission aims to balance these competencies and needs. Activities include the Lisbon Agenda to agree on joint innovation objectives, and a broad innovation strategy defining key areas like developing lead markets and supporting clusters. The Commission also works to remove obstacles to cross-border venture capital investment by promoting mutual recognition of frameworks or a single fund structure. It supports cooperation among the many automotive clusters in Europe. Additionally, the Commission develops ways to better integrate expatriate entrepreneurs into European innovation systems through seminars and assessing policies across states and regions.
The document proposes a new policy agenda to maximize the innovative contributions of Europe's creative industries. It recommends 10 policy actions to stimulate innovation and growth through cross-sectoral collaboration, build better business support and access to finance in regional ecosystems, and measure and raise awareness of the value of the cultural and creative industries. The recommendations are based on work by the European Creative Industries Alliance Policy Learning Platform to understand challenges facing creative SMEs and provide benchmark policy cases and suggestions.
This document provides an overview of the Investment Plan for Europe and the European Fund for Strategic Investments (EFSI). Some key points:
- The Investment Plan aims to mobilize €315 billion in investments by providing an EU guarantee to the EFSI, which will support strategic investments through the EIB and EIF.
- EFSI will have two windows - one for infrastructure and innovation projects, and one focused on SMEs and mid-caps. It aims to address market failures and mobilize private investment.
- The Plan has three pillars: mobilizing finance, making finance reach the real economy, and improving the investment environment through regulatory and structural reforms.
- Tools under the Plan include
Horizon 2020 is the new EU programme for research, development and innovation from 2014 to 2020 with a total budget of 77 billion euros. It aims to support activities closer to the market and orient research towards societal challenges and key technologies. For SMEs, there is more funding available under Horizon 2020 totaling 8.9 billion euros, compared to 6.8 billion euros under previous programmes. This includes 2.8 billion euros for the new SME instrument to replace existing SME support programmes. The SME instrument is linked to societal challenges and industrial leadership priority areas and supports business-driven innovation projects through concept assessment, demonstration, and commercialization funding.
This document discusses the growing role of Development Finance Institutions (DFIs) in international development policy. It notes that DFIs, which are government-controlled institutions that invest in sustainable private sector projects, represent an important third pillar of development policy alongside traditional aid and public sector lending. The European DFIs have a long track record of investing over €18.5 billion in private sector projects, generating both positive development impacts and financial returns. Their investments help address the challenge that many developing countries face in accessing finance, particularly for small and medium enterprises.
Similar to Thomas Barrett | Director, New Products and Special Transactions Department, European Investment Bank (20)
Goals:
- Assess which migration related issues are discussed and when these come about;
- Gain insight into how a given national and/or regional media landscape characteristically frames migration;
- Generate numerical values to describe topics discussed, framing and the possible overall tone or opinion expressed;
- Enable multi-national comparative perspective based on standardized methodological approach.
The document discusses grassroots mapping efforts by the Public Laboratory for Open Technology and Science to create low-cost aerial imagery and data to help a community in Brooklyn, New York address pollution in their neighborhood. It outlines various community-led projects using kite and balloon aerial photography to document environmental conditions and historic sites along the Gowanus Canal to support cleanup efforts and encourage public participation.
Prof. Ulrich Teichler, Future challenges facing Europe’s higher education sys...European Journalism Centre
Ulrich Teichler summarizes several reports and scenarios on future challenges facing European higher education systems in the 21st century. The reports focus on issues like expanding access to higher education, improving management strategies, increasing internationalization and globalization, ensuring quality and relevance, promoting diversity, and strengthening ties between education, research, and innovation. Teichler observes that the reports engage in "conservative futurology," looking one to two decades ahead and assuming current issues will remain important, without embracing bold futuristic concepts. The overall themes largely match those identified in Teichler's initial overview.
Lidia Borrell-Damian, Challenge and change: Developing modern education and t...European Journalism Centre
1. The document discusses key challenges for universities including integrating the European Higher Education Area and European Research Area, international competition and cooperation, and building partnerships.
2. It provides examples of initiatives on university partnerships like responsible partnering guidelines and a European platform of universities engaged in energy research.
3. University-industry partnerships are discussed as important for knowledge exchange, with examples like collaborative doctoral education programs that link students and researchers with industry.
Henrik Bach Mortensen, Building partnerships with real impact for labour mark...European Journalism Centre
The document discusses ways to combat high youth unemployment rates in Europe. It suggests improving basic qualifications in primary school, providing economic incentives to seek jobs or education, and creating a flexible labor market. Vocational education and training programs are highlighted as one way Denmark achieved low youth unemployment, with nearly all graduates finding employment within a year of finishing their programs. Vocational training also increased employment rates across different origins in Denmark. The document recommends education and training systems that provide young people with the basic skills companies need and promoting a mobile labor market with many job openings.
Gareth Mills, Challenge and change: Developing modern education and training ...European Journalism Centre
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Dr. Annette Julius discussed promoting student mobility in Europe. She stated that student mobility has greatly increased in recent decades but more can be done to further raise mobility rates. Fresh funding and programs are needed to support shorter study periods abroad like internships and double degree programs. Quality aspects also need addressing like better integrating international students, improving credit recognition, and establishing codes of conduct.
The document summarizes the 4biomass project which aims to foster sustainable usage of renewable energy from biomass in Central Europe. The project involves partners from several countries who work on activities like exchanging best practices, developing a database of biomass projects, and creating a transnational action plan. The action plan will provide recommendations on coordinating bioenergy policy across countries to help meet renewable energy targets.
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Arne de Groote, Project manager Dutch Homeless Cup
Thomas Barrett | Director, New Products and Special Transactions Department, European Investment Bank
1. European Investment Bank
EIB Financing of European Research, Development and Innovation (RDI)
Thomas C. Barrett
Brussels, 24 November 2010
Innovation Union and Industrial Policy
Briefing for Journalists
2. European Investment Bank 2
‘‘ A Europe of Zero Risk would be a Europe of Zero Innovation‘‘
Commissioner Máire Geoghegan-Quinn, Strasbourg 2010
Role of Innovative Finance
What is the role of Equity /Risk Capital?
What is the role of Debt ?
What is the role of the Public Sector?
3. European Investment Bank 3
Why invest in innovation?
Increasing average R&D investment in innovation across EU27 to 3% of GDP by
2020 would:
increase GDP by 3%
reduce unemployment by 1.5%
Although in the long-run innovation and employment creation go hand in hand:
there will be frictional and structural employment issues
the labour market needs to be flexible and well-functioning
education is critical
The Europe 2020 Agenda calls for smart, sustainable and inclusive growth,
requiring:
the right innovation environment
appropriate risk-sharing arrangements to better leverage limited public funds
4. European Investment Bank 4
The innovation problem
The European Innovation Scoreboard for 2009 indicates a considerable “Innovation
Gap”:
22% between the EU27 and the US
30% between the EU27 and Japan
New competitors (e.g. Brazil, Russia, India and China) increase the pressure on the
EU to remain globally competitive in terms of the quality of its:
research of innovative goods and services
ability to attract researchers and innovators
5. European Investment Bank 5
Why doesn’t Europe innovate enough ?
The UK Community Innovation Survey (2005) identifies the most important barriers
to innovation:
cost-related
market-related
regulation-related
knowledge-related
• European firms are likely to invest less in RDI than their US or Japanese
counterparts because RDI returns are consistently lower in Europe
• Public policy must aim at increasing returns to investments in innovation in Europe
6. European Investment Bank 6
How can public policy increase the returns to innovation ?
• Public RDI policy of the past generation focused on the supposed superiority of the
public sector to pick technological winners
Current RDI approaches seek to place the private-sector in the strategic driving seat:
European Technology Platform (ETP) initiative
– 36 industry-led ETP initiatives designed to define R&D priorities
– A number of ETPs involving dedicated PPPs already exist
• The role of the public sector is to establish an environment in which innovation can
thrive
7. European Investment Bank 7
How can public policy promote an environment for
innovation ?
Spill-over effects are critical.
Human capital investment a key driver of spill-over benefits.
Two implications for public policy:
importance of clusters
importance of education
8. European Investment Bank 8
Maximising spill-over benefits
The importance of clusters:
Local proximities to research and education institutions:
50% of R&D in the OECD area performed by 10% of its regions
85% of clustered European firms claim their competitiveness has increased
Europe lags behind the US in average cluster strength
The nurturing of clusters is a focus of public sector regional/urban policies
The importance of education:
Tertiary education is key for a skilled workforce necessary for innovative firms
Role of tertiary education in basic/fundamental research
9. European Investment Bank 9
How should the public sector fund RDI ?
Insufficient access to appropriate finance partly explains Europe’s investment gap
Commission Member States have established a number of support instruments:
High Growth and Innovative SME Facility (GIF)
Risk Sharing Finance Facility (RSFF) complemented in some countries by the
JEREMIE scheme
• Efficiency and effectiveness of these instruments already demonstrated
10. European Investment Bank 10
Grant funding for innovation
Grants play an important role in achieving policy objectives when:
the valuation of an investment to a promoter and its social value differ
socially valuable investments need to be made affordable to an investor
• Risks of grant funding:
– incentive to maximise the grant component of an investment
– danger of over-investing
• Where possible grants should be:
– related to the achievement of outputs of investment programmes
– risks to promoters should be allocated to private partners when efficient.
11. European Investment Bank 11
The role of PPPs in RDI
PPPs can enhance R&D impact by:
improving the leverage of public support to business R&D through cost and risk
sharing
mobilising human and financial resources of the private sector
opening new avenues for commercial spill-overs from public-research
upgrading knowledge infrastructures
promoting the creation of regional clusters
• EPEC has launched an important project with Partnerschaften Deutschland
exploring further how PPPs can be used to support RDI activity
12. European Investment Bank 12
Conclusion
Europe’s priorities of smarter, sustainable and inclusive growth demand new thinking
about options for investing in innovation.
Public policy should concentrate on:
enhancing the innovation environment
strategic partners defining the innovation agenda
funding based on more effective risk sharing within public sector and between
public and private sectors
13. European Investment Bank 13
European Investment Bank - Profile
EIB was created by the Treaty of Rome in 1958
EIB is a not-for-profit, policy driven institution
EIB is 100% owned by the 27 EU member states
EIB has subscribed capital of EUR 232.4 bn as of 2009
EIB is AAA/Aaa rated by Moody’s, S&P and Fitch with stable outlook
EIB funds itself on the capital markets: EUR 79.4 bn in 2009
EIB signed loans amounting to EUR 79.1bn in 2009 (c.93% in EU)
EIB is the largest multilateral financing institution
EIB is the majority shareholder in the European Investment Fund
The European Investment Bank is the European Union‘s long-term financing institution. The
Bank acts as an autonomous body set up to finance capital investments furthering European
integration by promoting EU policies.
14. European Investment Bank 14
EIB GROUP : EIB/EIF product range
Risk Capital CIP Resources (SME) RSFF (SME / MidCap)
Entrepreneur, friends, family
Business Angels
Seed/Early Stage VC Funds
VC Funds
Bank Loans and Guarantees
Seed / Start-Up Phase Emerging Growth Phase Development Phase
Facility: High Growth
Innovative SME Scheme
(GIF), Ecotech
Purpose: IP financing,
technology transfer,
seed financing,
investment readiness
Target Group: VC
Funds, Business Angels
EIF Product: Fund-of-
Funds
Competitiveness and
Innovation Program
(CIP) Guarantee
schemes
Growth financing for
SMEs
VC Funds, CLOs
SME guarantees (loans,
microcredit,
equity/mezzanine,
securitisation)
RSFF
Innovation financing
SMEs/MidCaps, Banks,
PE Investors (sub-
investment grade)
Loans (incl. Mezzanine),
Funded Risk Sharing
Facilities with Banks
(Investors)
Special Operations
RSFF / Investment Loans
RSFF
Investment Loans
RDI financing
MidCaps/Large
Corporates/Public
Sector Entities
(investment grade)
Guarantees
Special Operations
Later Stage
Counterparts
EIF EIB
15. European Investment Bank 15
As of FYE 2009:
Since 2000, EIB financed some 590 individual RDI projects/programmes
Approvals and signatures amounted to EUR 104bn and 86bn, respectively
Transaction sizes ranged from EUR 8m to EUR 600m
Approximately 50% of the transactions were private sector investments
European Investment Bank
Financing of research, development
and innovation (RDI)
i2i Approvals
00
00
00
00
00
00
00
2000 2001 2002 2003 2004 2005 2006 2007
R
Total
EUR 104bn
ICT:
EUR 17bn
Industrial RDI:
EUR 53bn
2008
Geographical split of RDI approvals in
2009
000
000
2009
DE
23%
IT
13%
ES
13%FR
11%
SE
8%
GB
8%
Others
10%
CZ 2%
BE 2%
PT 2%
TR 2%
FI 3%
PL 3%
16. European Investment Bank 16
EIB
EIFEIF
High volume possible
Risk profile commensurate with a debt instrument and
relatively simple structures
Customized to end recipient needs
EIB focusing on demonstrable transfer of benefit to final
beneficiary
Risk-sharing is being developed
Small volumes
High risk profile and bespoke structures
Customized to intermediary needs
EIF impact focused on additional capacity in market
Loans
&
Guarantees
Portfolio
guarantees,
equity
&
quasi- equity
EIB Group’s Tools to Support SMEs
Two complementary sets of instruments
(EUR bn) 2004 2005 2006 2007 2008 2009
(Forecast)
Signed Loans (EIB) 4.6 3.9 6.2 5.2 8.1 12.7
Portfolio guarantees (EIF) 1.5 1.7 2.0 1.4 2.1 2.3
Equity funds (EIF) 0.35 0.47 0.69 0.52 0.41 0.7
17. European Investment Bank 17
Role of Risk Capital /Equity in Financing Innovation
…VC is an integral part of an innovation policy
A thriving VC industry is a precondition for exploiting Europe‘s rich potential for innovation and
entrepreneurship- this is primarily the role of the private sector, but public sector can facilitate by
creating incentives to invest and improve regulation
However, the European VC market is still highly fragmented and the funding gap compared to
the US remains high
VC in Europe accounts for just €5-6 billion a year on average; hence large institutional investors (pension
funds, asset managers, banks, insurers) generally consider VC too small to justify allocating investment
expertise or resources to this asset class
Europe does not yet have a community of institutional investors that fit the profile of long term partners for
VC, unlike in the US where there is a dedicated VC investor base in particular managing university
endowments
Underperformance of the VC asset class worldwide has not helped to attract new investors to the asset
class
EU needs a robust and self-sustainable VC industry able to support bright ideas to come to
market
In the EIB Group, the EIF acts as a fund of fund and has invested so far over €4bn in over 300
early stage to late stage funds. EIF manages the Risk Capital Mandate and Mezzanine Fund
Facility on behalf of the EIB and the CIP on behalf of the European Commission.
EIF’s objective is to be catalytic and facilitate the fund raising process by coming in as a
cornerstone investor into new funds
18. European Investment Bank 18
Banks
EIB RSFF funds complement other sources of
debt capital available for low/sub investment grade
RDI intensive corporates
EIB RSFF funds are highly attractive for potential
beneficiaries because of:
1. Highly attractive terms & conditions (AAA
rating and non-for-profit pricing)
2. Long maturities of up to 10 years or more
3. Direct EIB participation of up to EUR 300m
per transaction (depending on rating)
4. Strong technology/industry expertise
5. EIB does not sell assets on the secondary
market (buy and hold strategy)
6. No cross selling (just long-term lender)
7. Signalling Effect: EIB as a quality stamp
8. Debt and Mezzanine Debt Product
Investors
Final Beneficiaries
Low/Sub Investment Grade
EIB (RSFF)
2007 - 2013
EUR 1bnEUR 1bn
Approx. EUR 10bn
Debt Financing
Own Resources
Role of Debt in Financing Innovation
Case Study: The Risk Sharing Finance Facility (RSFF)
19. European Investment Bank 19
Role of the Public Sector in the making Europe more innovation-friendly
Improve the regulatory framework
Creating a single innovation market by streamlining and simplifying the patent registration process, creating
a single EU Patent
Remove the remaining barriers to VC funds operating cross borders
Simplify the listing processes of innovative companies in European stock exchanges
Dynamic standardisation system to spur innovation in ICT
Look at public procurement as an opportunity to spur innovation, connect public procurement to
policy objectives; use pre-commercial procurement
Public procurement accounts for 17% of the EU’s GDP
US spends at least USD49 billion a year on pre-commercial procurement
Intelligent use of Public Private Partnerships for RDI projects
Public support to create self sustainable VC market in Europe; use of public funds to mobilise
private funding into seed and start-up funds
Fill the current market gaps : During the technology and start-up phase, new companies face the ‘valley of
death’ where public research grants stop with no access to private finance;
Use of public funding to mobilise higher risk lending to knowledge-based companies lacking
collateral (see RSFF)
Smart use of public funds to maximise leverage, diversify away from pure grant-based funding to innovative
blending of grants and other public and private funding sources (e.g. RSFF) to mobilise private sector
funding
To date, contributions for the RSFF of €430m from the EU budget and €800m from the EIB, as risk sharing
partners, have supported over €18billion investments, or 15 times the combined contribution to the
RSFF and 42 times the EU budget contribution)
20. European Investment Bank 20
1
2
Engineering/Automotive
Energy
3
4
ICT
Life Science
Scope of Sector
EU Policy Dimension
Key RDI Trends
Strong EIB Track Record in the industry
RSFF Implementation Strategy
Rationale for Selection
Product Development Sector Know-How Long Term Financing
5 RDI Infrastructures
Risk Sharing Finance Facility - Key Sectors
21. European Investment Bank 21
Risk Sharing Finance Facility
Results 2007 – To Date
RSFF Loan amount (in EURm) and number of RSFF Operations Approved/Signed/Disbursed
2010 RSFF Signature Target: EUR 2,145m (37% achieved to date)
Target
2,145
8,146
5,328
323
1,497
845
2,833
4,264
1,502
887
1,494
459
1,024
2,984
861
169
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2007 2008 2009 2010 TOTAL
EURm
APPROVALS
SIGNATURES
DISBURSEMENTS
7914 14 12 7 36 1525 12812 335276
22. European Investment Bank 22
RSFF – RESULTS TO DATE
Over EUR 5.3bn RSFF loans signed to date in 20
countries.
Main sectors – Engineering/Industry & Life
Science/Speciality chemicals
Signed Loans by Country
Signed Loans by Sector
SI
0.2%
Other
14%
TR
3%
UK
9%
RO
0.2%
PL
1.4%
SE
11%
LU
0.8%
LT
0.1%
BG
0.6%
BE
1.4%
AT
0.6%
NL
7%
DE
20%
DK
0.8%ES
17%
FI
6%
FR
9%
IL
1.7%
HU
3%
IT
6%
23. European Investment Bank 23
ALPHASAT
Project Cost: EUR 598m
RSFF Financing : EUR 225m
Alphasat is the first flight (proto-flight) mission for Alphabus,
the new European platform for next generation, high power
communication satellites. The program is jointly supported by
ESA (European Space Agency) and CNES (Centre National
d’Etudes Spatiales). The promoter will utilise the operational
payload to launch an augmented version of its Broadband
Global Area Network, while ESA is also including four
Technology Demonstration Payloads in the launch
ANDASOL SOLAR THERMAL POWER 1 & 2
Project Cost: 2 x EUR260m
RSFF Financing: 2 x EUR 60m
Technology: “Solar-only” Parabolic Trought Power Plant
Installed Capacity: 2x 49.9 MWel
Storage: Two-tank molten salt storage for 7.7 full load
hours
Project Site: Plateau of Guadix, Province Granada
Net electricity production: 2x 179.1 GWh/a
MEDINVEST
Project Cost: EUR229m
RSFF Financing : EUR 30m
Financing of RDI activities in the field of medical
devices/technologies
The proceeds of the EIB loan will be downstreamed to
finance the RDI activities of the portfolio companies.
Each portfolio company is liable and responsible for
repaying the loan made to it.
Distributions to the founders will be used to first repay the
remaining outstanding loan to Medinvest.
The most likely source of distributions are proceeds from
disposal/exit.
EUROPEAN MEDTECH (OPEN INNOVATION)
Project Cost: EUR 413m
RSFF Financing: EUR 200m
Long term strategic finance in the form of a subordinated
loan to fund the open innovation R&D activities in and
around the High Tech Campus in Eindhoven
The RSFF Loan will be used to fund Philips’ early stage,
higher risk healthcare R&D projects in the field of image-
guided intervention and therapy, home healthcare and
clinical decision support systems.
Philips’ R&D will take place in collaboration with SMEs,
research institutes and universities across Europe.
RSFF – CASE STUDIES
24. European Investment Bank 24
RSFF Mid-Term Review
Main Conclusions and Recommendations of the Independent Expert Group (IEG)
The RSFF is considered a uniquely innovative, demand-driven instrument;
It has been successfully introduced as a new scheme into the European Union’s research
funding under FP7 and therefore helped drastically to expand the financing for RDI;
The RSFF had a positive dual leverage effect: Allowing EU funding for loans to finance R&D
and helping private investors/ companies to finance riskier RDI activities, even in times of
economic crisis (2008/2009);
The implementation of the RSFF, at a particularly difficult time, appears to have been carried
out in a highly efficient and effective manner;
The IEG is therefore highly positive about the first roll-out phase of the RSFF.
The IEG made 10 recommendations for the future of the RSFF.
Period 2011-2013:
Additional EU contribution of up to € 500 million to RSFF
coming from EC FP7.
Improvement to some already supported innovation target groups (SMEs, Research
Infrastructures) through introduction of specific approaches and change of risk-sharing.
Period 2013-2020:
Continuation and expansion of the scale and the scope of the RSFF – as a visible part of ‘FP8’ –
to address future RDI financing needs with a revolving dedicated EU budget of no less than EUR
5 billion for R&D and Innovation (EU support also for Innovation).
Rationalisation of existing/future financial schemes should be targeted.
25. European Investment Bank 25
Contacts
Thomas C. Barrett
barrett@eib.org
Tel: +352 43 79 87006
Jukka Luukkanen Marc D’hooge Nicholas Jennett
luukkane@eib.org dhooge@eib.org jennett@eib.org
Tel. + 352 43 79 86412 Tel. + 352 43 79 87211 Tel. + 352 43 79 87320
http://www.eib.org