EU - IBO

The European Commission agreed this month to increase funds for InnovFin, the program supporting research projects considered to be high risk and that might otherwise not receive financial backing. The €750 million ($815 million) in funds through the European Investment Bank and European Investment Fund would be used to increase the availability of loan guarantees to small- and medium-sized enterprises, as well as mid-cap companies. The plan is backed by the European Fund for Strategic Investments, which is intended to encourage private investment in, rather than government grants for, projects selected by European governments. InnovFin’s financial vehicles include Energy Demo Projects for renewable energy, and Infectious Diseases Projects for new diagnostic and medical devices, drugs, and vaccines.

Source: Science Business

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