Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 42,390,843.58
Countries
Sector(s)
United Kingdom : € 42,390,843.58
Services : € 42,390,843.58
Signature date(s)
7/07/2015 : € 42,390,843.58
Link to source

Summary sheet

Release date
13 July 2015
Status
Reference
Signed | 07/07/2015
20130491
Project name
Promoter - financial intermediary
IP GROUP INNOVATION INVESTMENTS
IP GROUP PLC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 39 million (GBP 30 million)
EUR 130 million (GBP 101 million)
Location
Sector(s)
Description
Objectives

The project concerns investments in research and development (R&D) into innovative start-up companies and SMEs. The borrower holds and manages a portfolio of high-tech innovative spin-out companies and small and medium-sized enterprises (SMEs) in five different sectors (energy & renewables; medical equipment & supplies; pharma & biotech; IT & communications; chemicals & materials) in the United Kingdom.

The project supports the growth phase of innovative technology SMEs by ensuring their ability to fund their development programme. It covers activities ranging from pre-seed and seed financing and proof of concept studies to the financing of pilot production or clinical trials. The larger investments, targeted at the more mature portfolio companies, are made on a milestone/tranche basis that matches the companies’ needs for cash with the agreed milestone. The companies included in the project represent a mix of companies in different sectors such as life sciences (pharmaceutical, biotechnology and medical equipment), mechanical engineering and ICT.

Environmental aspects
Procurement

R&D activities included in the project will not materially change current R&D practice and will be carried out within existing facilities making use of existing laboratories, pilot plants, clinical centres etc. An environmental impact assessment (EIA) by a competent authority according to Directive 2011/92/EU should not be required.

The promoter is a private company not operating in the utilities sector and is thus not covered by EU directives on procurement.

Comments

InnovFin is an innovative credit-risk-sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - IP GROUP INNOVATION INVESTMENTS
Publication Date
17 Jul 2015
Document language
Main Topic
Lending
Document Number
60398929
Document Focus
Environmental Information
Project Number
20130491
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - IP GROUP INNOVATION INVESTMENTS
Publication Date
1 Jan 2019
Document language
Main Topic
Lending
Document Number
88770076
Document Focus
Environmental Information
Project Number
20130491
Sector(s)
Regions
Countries
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications