InnovFin – EU Finance for Innovators
This is a joint initiative launched by the European Investment Bank Group (EIB and EIF) in cooperation with the European Commission under Horizon 2020. InnovFin consists of a series of integrated and complementary financing tools and advisory services offered by the EIB Group, covering the entire value chain of research and innovation (R&I) in order to support investments from the smallest to the largest enterprise. InnovFin is available across all eligible sectors under Horizon 2020, in EU Member States and Associated Countries. By 2020, InnovFin is expected to make over EUR 24bn of debt and equity financing available to innovative companies to support EUR 48bn of final R&I investments.
What financing products are available?
InnovFin financing tools cover a wide range of loans and guarantees which can be tailored to innovators’ needs. Financing is either provided directly or via a financial intermediary, most usually a bank.
To read more about which InnovFin products are available and who can benefit from them, please click here.
What are the objectives of InnovFin?
InnovFin aims to facilitate and accelerate access to finance for innovative businesses and other innovative entities in Europe.
One of the key factors constraining the implementation of R&I activities is the lack of available financing at acceptable terms to innovative businesses since these types of companies or projects deal with complex products and technologies, unproven markets and intangible assets.
In order to overcome these difficulties, the EU and the EIB Group have joined forces to provide finance for research and innovation to entities that may otherwise struggle to access financing.
Why are the EU and EIB Group supporting innovative companies?
The EU lags behind its global competitors in terms of both private and public investment in research and innovation.
However, innovation is a key ingredient for driving sustainable growth, creating jobs and ensuring Europe’s long-term competitiveness. That is why the EIB Group and the European Commission have made it a top priority to facilitate access to finance for innovative businesses in Europe.
What is new about InnovFin?
InnovFin builds on the success of the former Risk-Sharing Finance Facility developed under the seventh EU framework programme for research and technological development (FP7).
During the 2007-2013 programming period, the Risk-Sharing Finance Facility financed 114 RDI projects to the tune of EUR 11.3bn and signed 29 guarantee contracts with a total guarantee amount of over EUR 1.4bn.
Under the new 2014-2020 programming period, the European Union and EIB Group have more than doubled their combined support for innovative firms in Europe. In addition to more financing being made available, InnovFin also offers a greater product range.
InnovFin has been developed in such a way to provide a series of integrated and complementary financing tools.
- Posted on: 01.04.2015
- Created by: Elke Dall
SMEs in the Czech Republic and Austria are set to benefit from easier access to risk finance following the signing of loan guarantee schemes as part of...read more
- Date: June 11, 2015
- Posted on: 01.06.2015
- Created by: Desiree Pecarz
The EIB Group, in partnership with the Croatian Bank for Reconstruction and Development (HBOR) will host an interactive seminar on its financial products...read more
- Posted on: 10.09.2015
- Created by: Desiree Pecarz
The EIB Group and DG Research and Innovation have developed a loan matching platform: “Six simple steps to loan funding” to provide you with easy access...read more
- Posted on: 26.05.2016
- Created by: Zana Bogunovic
A leading European manufacturer of household electric appliances, Gorenje Gospodinjski aparati d.d., will receive a €50 million European Union loan backed...read more