Many research and innovation (R&I) projects face difficulties in securing finance, despite being fundamentally good projects. InnovFin Advisory support helps these projects and companies make the most out of their potential.
What is InnovFin Advisory?
InnovFin Advisory guides its clients on how to structure their R&I projects in order to improve their access to finance. The service helps them to capitalise on their strong points and adjust elements such as their business model, governance, funding sources and financing structure to improve their access to finance. In the long run, this increases their chances of being implemented.
InnovFin Advisory also provides advice to improve investment conditions through activities which are not project-specific. This includes things such as developing a business case for new financing mechanisms and preparing studies on increasing the effectiveness of financial instruments to address specific R&I needs.
How does it fit within the InnovFin Programme?
InnovFin Advisory was set up as a joint EIB-European Commission initiative under Horizon 2020 to assist eligible public and private counterparts to improve the bankability and investment-readiness of large, complex, innovative projects that need substantial long-term investments.Please click here for our product table.
What services does InnovFin Advisory offer?
- Strategic planning
- Business modelling
- Capital structure, debt and risk allocation
- Classic or innovative financial instruments
- Funding sources and their eligibility criteria
- Management of stakeholders
- More “efficient usage” of public financial instruments
Who can benefit?
Building on the support, networks and expertise of the EIB Group and the European Commission, we operate in and between:
- Private sectors (large and small corporates, RDI clusters, industry associations, financial market associations etc.)
- Public sector (European Commission, Member States, government agencies etc.)
- Public-private and semi-public (Research Institutes, Foundations, NGOs etc.)
InnovFin Advisory services are provided independently of the EIB’s lending/investment decisions. We will assess all potential financing sources including, but not limited to, EIB funding.
Development of new financing mechanisms
A blueprint for an Infectious Diseases Finance Facility
Following discussions with the European Commission, Pharmaceutical companies and industry players, InnovFin Advisory prepared a concept paper covering the latest trends in innovative financing instruments for Infectious Diseases R&D. The paper outlines the need for a new, higher risk-taking, Infectious Diseases Finance Facility (“IDFF”). This facility is expected to be funded by EU budgetary resources and, potentially, to be a catalyst for attracting additional resources from other funders.
InnovFin Advisory has met with various pharmaceutical companies and stakeholders to check the IDFF concept and to contribute to the development of a potential investment pipeline. Going forward, InnovFin Advisory will work to attract additional resources from other entities/ donors to invest in IDFF to enhance the impact of the facility.
How to apply and who to contact:
To be eligible for InnovFin Advisory a project must:
- Require a minimum EUR 15 million R&I investment
- Fit the policy objectives of Horizon 2020; and
- Not yet be mature for financing appraisal.
To find out if your project is eligible for support under InnovFin Advisory, please submit your request to the EIB in writing. The request should include a detailed description of the project, including business plan highlights and the expected budget commitment. All requests should be sent to firstname.lastname@example.org. The European Commission provides approval of eligible projects.
* The InnovFin products are subject to regular updates to reflect market evolution. New features will be unveiled in the course of 2017 to reinforce the cooperation with the European Fund for Strategic Investments, enhance access by research institutes and organisations, address the need for thematic financing and focus on Associated Countries as well as countries behind in the Innovation Scoreboard.