EU Finance for Innovators (InnovFin) was established by the EIB and the European Commission under the Horizon 2020 programme for research and innovation. It provides a range of financial instruments and advisory services by the European Commission and the European Investment Bank Group to help innovative firms in the EU and beyond gain access to finance.
InnovFin offers tailored products that provide financing to support research and innovation by companies (SMEs and large companies) and in support of promoters of research infrastructure. Two guarantee instruments exist under the InnovFin programme (see below). In addition to guarantee products, InnovFin also offers equity products and advisory services.
Post 2020 – InvestEU Programme
The new InvestEU Programme, implemented in the course of 2021-2027, will bring together multitude of EU financial instruments. By bringing together the different financing programmes under one roof, project promoters can benefit from simple and streamlined investment and advisory support.
The new programme will include the objectives of this InnovFin Instrument. The existing InnovFin instruments will remain operational till the actual implementation of the InvestEU Programme.
What is the relevance for Circular Cities?
This programme does not have a specific sectoral focus, which means all types of innovative initiatives are eligible, including circular city initiatives.
How to apply?
Mid-Caps: guarantees for mid-caps are offered by a number of selected intermediary banks which you can find on this page of the EIB.
Financial institutions: for both the SME Guarantee facility and the MidCap Guarantee, financial institutions could submit their expressions of interest until 31 December 2020. For more information on the submission and selection procedures:
- SME Guarantee: Open call for expression of interest to select financial intermediaries
- MidCap Guarantee: Open call for expression of interest to select financial intermediaries
InnovFin Guarantee Instruments:
Guarantee instrument to provide more debt funding for innovative SMEs and Small Mid-caps. The facility is deployed through financial intermediaries.