History of i2i

The Lisbon European Council (March 2000) launched a new Union strategy to strengthen employment, economic reform and social cohesion as part of the emerging knowledge-based economy. The Bank's initial contribution to this strategy consisted in its Innovation 2000 Initiative (i2i). Over a period of three years (May 2000-April 2003), the EIB advanced dedicated lending of some EUR 15 billion for innovation-rich investments and stepped up venture capital operations through its subsidiary the European Investment Fund (EIF).

The Barcelona (March 2002) and Brussels (March 2003) European Councils identified the crucial role of R&D and innovation in closing the competitiveness gap between Europe and the USA/Japan. The EIB was encouraged to step up its support for the Lisbon strategy and to target investment in R&D and innovation in the private and public sectors.

In April 2003, under the continued acronym i2i, the Bank launched a new Innovation 2010 Initiative, extending and fine-tuning its support to the Lisbon strategy.