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The loan will finance the promoter's research, development and innovation (RDI) activities related to Internet of Things (IoT), cloud, hybrid integration, business process mining and self-serve analytics. The RDI project will be carried out in 2023 and 2024, mostly in Germany.
The purpose is to create an integrated platform as a service (iPaaS) solution based on four main pillars: Integration of Applications, Integration of Things, Integration of Processes, and Integration of Data. IPaaS will create a digital backbone infrastructure to support its customers digital transition strategy.
The project will finance the realisation of a complete integration platform as a service (iPaaS) solution to enable SMEs, MidCap and Corporates to implement their digital transition strategy and which will allow them to not only overcome mission critical data and transaction silos issues, but also build new connected business models that better serve their customers. This would have a water fall effect into creating better product offering, embracing innovation toward a smarter, more connected and sustainable future in line with the EU's digital ambition for 2030, set up in the Digital Compass.
The operation grants the promoter long term funding at favourable terms, drawdown flexibility and length of the availability period, supporting the promoter to maintain and increase its innovation activities, with wider economic benefits, thereby attracting more funding from private lenders (crowd-in effect) and contributing to its funding diversification.
IPaaS is neither specifically mentioned in the environmental impact assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, nor in any of its Annexes, therefore it is not subject to the same. However, this aspect will be further assessed during project appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU public procurement rules or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is subject to EU public procurement legislation (i.e. Directive 2014/25/EU), then it will be required that contracts for the implementation of the project will be tendered in line with the relevant applicable EU procurement legislation (Directive 2014/25/EU and Directive 92/13/EEC), as interpreted by the EU Court of Justice, with publication of tender notices in the EU Official Journal, as and where required.