Financial Instruments for Innovation

Programme 2014 - 2020 Interreg Europe

Date of latest update: 2025-08-09

Description

Description (EN):

In its assembly of March 2000, the European Council acknowledged the need of increasing the expenditure in innovation by implementing better policies and making a better use of public funds. To achieve this, the EC has put great emphasis on increasing the use of financial instruments (FIs) as a delivery tool for the Cohesion Policy. Besides the obvious advantages of recycling funds over the long term, financial instruments help to mobilise additional public or private co-investments to address market failures. Moreover, FIs (Guarantees, Business Angels, Venture Capital, Crowdfunding, Crowdlending) have also proved to be a useful tool in helping innovative SMEs overcome the ‘valleys of death’ and reach a sustainable growth phase to become ‘stock exchange listed’ companies. Under Innova-FI, partners are seeking to improve the design and implementation of Financial Instruments as a delivery mode of Structural Funds, so that they best meet and serve the financing needs of innovative and RTDI-driven businesses in all the stages of their start-up and growth. Innova-FI partners will do this by learning about the innovation landscape, and how it is being publicly financed, in partner regions. The consortium will examine together identified challenges, such as: designing FIs that are well adapted to the different phases of the business; moving away from a grants culture, very much established in the RTDI and innovation field; achieving a better alignment of FIs with other support measures; or creating cross-border instruments. Our main outputs will be: - 7 thematic workshops and 7 study visits -1 Joint Peer Learning - 3 policy booklets for governments, compiling case studies and recommendations - 7 Action Plans - 2 dissemination events in Brussels to engage with regions outside the consortium - 1 high-level conference in collaboration with SERN (Start-Up Europe Regions Network) - Participation of Innova-FI partners at 16 external events (2 events per partner)

Achievements (EN):

In terms of activities, the project has organised a total of 62 policy learning events. It has also identified 14 good practices, produced 7 action plans and led to the increased capacity of 90 people. In terms of results, the project has succeeded in improving 2 regional development policies for a total amount of funds influenced of EUR 20,122,946. 00.

Website: https://www.interregeurope.eu/interreg-europe-2014-2020

Expected Results (EN):

Overall, we are seeking to improve the design and implementation of Financial Instruments by our partner regions as a delivery mode of Structural Funds, specifically to improve those instruments, so that they best meet and serve the financing needs of innovative and RTDI-driven businesses in all the stages of their start-up and growth. Innova-FI partners will do this by learning about the innovation landscape, and how it is being publicly financed, in partner regions. In the framework of a rapidly changing world that demands the continuous update of instruments to meet the real financing demands of innovators, Innova-FI partners have gathered together to learn how peers in Europe are using financial instruments for supporting innovative companies in their financing needs, answering to the following policy questions: 1. What are the most suitable financial products that RTDI-driven entities require according to their stage of development (seed, start-up, post-creation)? What type of innovation and which stage (seed, start-up, post-creation) are partners addressing with public interventions and how? 2. What type of financial instruments are peers using and how (directly, fund of funds): Guarantees, Business Angels, Venture Capital, Crowdfunding, Crowdlending? 3. Which sources are they using and how are they exploiting them: Structural and Investment Funds (ERDF, ESF) but also how these are being combined with other sources (EFSI, own funds, private investors, other EU funds such H2020, cross-border cooperation programmes)?

Expected Outputs (EN):

Overall, under Innova-FI we are seeking to improve the design and implementation of Financial Instruments by our partner regions as a delivery mode of Structural Funds, so that they best meet and serve the financing needs of innovative and RTDI-driven businesses in all the stages of their start-up and growth. INNOVA-FI partners will do this by learning about the innovation landscape, and how it is being publicly financed, in partner regions. Our main results include: -A better understanding among regional policy-makers, Managing Authorities, Implementing Bodies, and other stakeholders of the innovation landscape in partner regions, and how it is being publicly financed; -An increased knowledge on the different possibilities when rolling-out financial instruments (FIs); -An increased and better use of Financial Instruments targeted to RTDI-driven and highly innovative business; -A better alignment and better integration of FIs with other research and innovation support measures in the 6 partner regions; -Moving away from a grants culture, very much established in the RTDI and innovation field (in some partner regions, innovation support measures are still very much focused on grants and subsidies); And thanks to all the above: -A much more efficient use of Structural Funds thanks to both the repayable nature and levering effect of FIs -A increased number of enterprises in the RTDI and innovation field receiving financial support other than grants Project outputs -General -Partnership agreement -Minutes of the meetings (KoM, SCM and LSG meetings) -Reports on all the exchanges of experience events (8 reports) -Participation in Interreg Learning Platforms (once per semester) Project outputs – Regional and interregional learning -Database tool ‘Financing innovation’ in regions + 7 partner regions having fed the tool -7 thematic workshops covering different aspects of implementing FIs -7 study visits -1 Joint Peer Learning -7 Action Plans -At least 1 meeting per partner per semester with their stakeholder group -3 policy booklets summarizing policy recommendations and case studies identified -At least 1 meeting with a pan-European initiative or organisation (fi-compass, DG Regio, EIB/EIF) Project outputs – Communication -1 event in Brussels (Seminar for external stakeholders) to disseminate the use of the tool beyond the consortium -Participation of the project (all partners) in EWRC (European Week of Regions and Cities) in Semester 4 -Semester e-newsletter -News article in English, and in the national languages of our partners, after each event -1 video summarizing the learnings of the project and highlight some of the case studies identified -Participation of partners at 16 external events related to the topic of Innova-FI during the lifetime of the project (e.g. events organised by fi-compass, EURADA general assembly, international conferences, etc.) (2 events per partner during the lifetime of the project) -1 high-level conference

Thematic information

Innovation capacity and awareness-raising Regional planning and development

Specific Objective: Improve the implementation of regional development policies and programmes, in particular programmes for Investment for Growth and Jobs and, where relevant, ETC programmes, supporting SMEs in all stages of their life cycle to develop and achieve growth and engage in innovation

Thematic Objective: (03) enhancing the competitiveness of SMEs by:

Investment Priority: (03d) supporting the capacity of SMEs to grow in regional, national and international markets, and to engage in innovation processes

Partners (8)

Lead Partner: Agência Nacional de Inovação, S.A. (ANI)

Address: Rua dos salazares 842, 4149-002 Porto, Portugal

Legal status: public

Website: http://www.ani.pt

Total budget: EUR 361 150.00

ERDF budget: EUR 306 977.50

Startup Europe Regions Network (SERN)

Name: Startup Europe Regions Network (SERN)

Address: Avenue des Arts 24, 1000 Brussels, Belgium

Legal status: private

Website: http://startupregions.eu/

Total budget: EUR 150 025.00

ERDF budget: EUR 112 518.75

Služba Vlade Republike Slovenije za razvoj in evropsko kohezijsko politiko

Name: Služba Vlade Republike Slovenije za razvoj in evropsko kohezijsko politiko

Address: Kotnikova 5, 1000 Ljubljana, Slovenia

Legal status: public

Website: https://www.gov.si/en/state-authorities/government-offices/government-office-for-development-and-european-cohesion-policy/

Total budget: EUR 173 875.00

ERDF budget: EUR 147 793.75

UAB “Investicijų ir verslo garantijos”

Name: UAB “Investicijų ir verslo garantijos”

Address: Konstitucijos ave. 7, 16 floor, 9308 Vilnius, Lithuania

Legal status: public

Website: http://www.invega.lt

Total budget: EUR 174 900.00

ERDF budget: EUR 148 665.00

ΚΕΝΤΡΟ ΕΠΙΧΕΙΡΗΜΑΤΙΚΗΣ ΚΑΙ ΠΟΛΙΤΙΣΤΙΚΗΣ ΑΝΑΠΤΥΞΗΣ

Name: ΚΕΝΤΡΟ ΕΠΙΧΕΙΡΗΜΑΤΙΚΗΣ ΚΑΙ ΠΟΛΙΤΙΣΤΙΚΗΣ ΑΝΑΠΤΥΞΗΣ

Address: Lida Maria Settlement, Hermes Building, 6th km Harilaou - Thermi, 57001 Thessaloniki, Greece

Legal status: private

Website: https://kepa.e-kepa.gr

Total budget: EUR 177 575.00

ERDF budget: EUR 133 181.25

Agencja Rozwoju Regionalnego S.A.

Name: Agencja Rozwoju Regionalnego S.A.

Address: Ul. Cieszyńska 365, 43-382 Bielsko-Biała, Poland

Legal status: public

Website: http://www.arrsa.pl

Total budget: EUR 185 000.00

ERDF budget: EUR 157 250.00

Friuli Innovazione – Centro di Ricerca e Trasferimento tecnologico

Name: Friuli Innovazione – Centro di Ricerca e Trasferimento tecnologico

Address: Via J.Linussio 51, 33100 Udine, Italy

Legal status: public

Website: http://www.friulinnovazione.it

Total budget: EUR 187 450.00

ERDF budget: EUR 159 332.50

IVACE, Instituto Valenciano de Competitividad Empresarial

Name: IVACE, Instituto Valenciano de Competitividad Empresarial

Department: European Programmes Department

Address: Ciudad Admon. 9 Octubre. Torre 2., 46018 Valencia, Spain

Legal status: public

Website: http://www.ivace.es

Total budget: EUR 210 050.00

ERDF budget: EUR 178 542.50

Partners map

Lead partner

Project partner

Summary

Project name (EN): Financial Instruments for Innovation

Project acronym: Innova-FI

Project start date: 2018-06-01

Project end date: 2023-05-31

Project status: closed

Total budget/expenditure: EUR 1 620 025.00

Total EU funding (amount): EUR 1 344 261.25

Co-financing sources:

ERDF: Amount, EUR 1 344 261.25.

Documents

Documents on this project are listed below, and organised by category. Please note field "Data source", attached to each document. Keep.eu users are free to use these documents as long as they mention the data source and keep.eu.

Reports

Action plan - ANI, Portugal

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-05-31

Languages: en

Attachment file: Download

Action plan - Friuli Innovazione, Italy

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2021-12-02

Languages: en

Attachment file: Download

Action plan - Government Office for Development and European Cohesion Policy

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2021-12-31

Languages: en

Attachment file: Download

Action plan - INVEGA, Lithuania

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2021-11-29

Languages: en

Attachment file: Download

Action plan - IVACE, Spain

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2021-12-21

Languages: en

Attachment file: Download

Action plan - Poland

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2022-01-10

Languages: en

Attachment file: Download

Action plan - Thessaloniki, Greece

Attachment type: file

Type of document: Report

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-05-31

Languages: en

Attachment file: Download

Videos / films

#EURegionsWeek 2019

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-11-08

Languages: en

#europecooperates 2019

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-04-11

Languages: en

Benchmark Video Innov ID by ANI

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-02-14

Languages: en

FI Campus 2018 – Summary video

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2018-12-06

Languages: en

FI Campus 2019 – Looking ahead to 2021 and beyond

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-12-19

Languages: en

Financial instruments products

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2017-12-08

Languages: en

Innova Fi benchmark video ARRSA

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-05-15

Languages: en

Innova fi Benchmark video by Government Office for Development and European Cohesion Policy

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-02-14

Languages: sl

Innova-FI - Benchmark Video from FINN

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-03-02

Languages: en

Innova-FI: Get Up to Speed - The 1st EoE of Innova-FI

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2018-11-28

Languages: en

Innova-FI: Get Up to Speed - The 2nd EoE of Innova-FI

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-03-07

Languages: en

Innova-FI: Get Up to Speed - The 4th EoE of Innova-FI

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-10-23

Languages: en

Innova-FI: Get Up to Speed - The 5th EoE of Innova-FI

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2020-02-04

Languages: en

Innova-FI: IVACE - MASDE VIDEO

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2023-02-17

Languages: en

Innova-FI: Policy Learning Platform Thematic Workshop Sofia, Bulgaria

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-01-07

Languages: en

InnovaFI Benchmarking Video by KEPA

Attachment type: link

Type of document: Video / film

Data source: Financial Instruments for Innovation

Publication date: 2024-08-13

Document date: 2023-02-20

Languages: en

Invega (ENG subtitles)

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2022-12-06

Languages: en

Market View: Καινοτόμα Χρηματοδοτικά Εργαλεία

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2019-02-03

Languages: el

The agora of the #EURegionsWeek 2018

Attachment type: link

Type of document: Video / film

Data source: https://projects2014-2020.interregeurope.eu/innova-fi/

Publication date: 2024-08-13

Document date: 2018-10-15

Languages: en

Information regarding the data in keep.eu on the programme financing this project

Financing programme

2014 - 2020 Interreg Europe

Last month that data in keep.eu was retrieved from the Programme's website or received from the Programme

2023-10-31

No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)

258 / 258 (100%)

No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)

2 084 / 2 085 (99.95%)

Notes on the data

Information provided by the Programme.

The financial data featured in keep.eu for this programme, it's projects and its partners is not exact and should be taken as a reference only.

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Financial Instruments for Innovation

Description

Thematic information

Partners (8)

Partners map

Summary

Documents

Information regarding the data in keep.eu on the programme financing this project

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