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InnovFin Emerging Innovators

InnovFin Emerging Innovators

InnovFin Emerging Innovators bridges the research and innovation (R&I) investment gap in EU Member States which are labeled as Moderate Innovators and Modest Innovators in the European Innovation Scoreboard and Horizon 2020 Associated Countries.

The InnovFin Emerging Innovators improves availability of risk finance for fast-growing or R&I-driven enterprises, R&I infrastructures, innovation-enabling infrastructures and other entities.

The funding is being made available by the European Investment Bank or through a financial intermediary via loans and equity-type financing starting at EUR 7.5 million.

Eligibility

Scope

InnovFin Emerging Innovators provides financing to entities of all sizes (including SMEs, mid-caps and entities with 3 000 employees or more) in support of R&I activities or infrastructures falling under the scope of the Eureka Network or the European Research Area (ERA) under the Horizon 2020 programme as well as R&I activities under the Euratom fission programme.

Geography

Beneficiaries must be located in a country labeled as Moderate and Modest Innovators in the European Innovation Scoreboard or in an Horizon 2020 Associated Country.

Specific R&I infrastructure projects may be located elsewhere if carried out by entities incorporated in an InnovFin Emerging Innovators participating country.

Innovation criteria for SMEs and mid-caps

InnovFin Emerging Innovators is also targeted towards small and medium-sized entreprises (SMEs) or mid-caps (less than 3 000 employees) which are fast-growing and/or innovation-driven.

To be considered as innovative under InnovFin Emerging Innovators, companies must comply with at least one of the following statements:

  • Intention to use the EIB financing to invest in producing or developing products, processes and/or services that are innovative and where the business plan indicates a risk of technological or industrial failure, or a business risk
  • The company’s registered office is in a science, technology or innovation park, technology cluster or technology incubator, in each case with activities relating to R&I
  • The company has benefited from tax credit or tax exemption related to R&I investment in the last 24 months

For fast-growing companies with high turnover or employment rate

  • Average annualised growth in turnover greater than 10% a year, over a three-year period
  • Average annualised growth in full-time employees of at least 5% a year, over a three-year period (with one hundred or more employees at the beginning of the observation period)

For innovation-driven companies or companies with significant innovation potential

  • R&I expenses/investment that are at least equal to 5% of its annual turnover
  • The company undertakes to spend an amount at least equal to 80% of the EIB financing on R&I expenses/investment in the next 36 months as indicated in its business plan
  • It has been formally awarded grants, loans or guarantees from European R&I support schemes (e.g. Horizon 2020 or FP7) or through their funding instruments (e.g. Joint Technology Initiatives, “Eurostars”) or through a national or regional research or innovation support scheme over the last 36 months
  • It has been awarded an innovation prize over the last 24 months
  • It has registered at least one patent in the last 24 months
  • It has received an investment from a private-equity fund or from a business angel that is a member of a business angel network; or such a private equity fund or business angel is a shareholder of the company at the time of its application for the EIB loan

How to apply

Find out on this page how you can benefit from InnovFin Emerging Innovators.



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