The European Council, in 2000, 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 (FI’s) as a delivery tool for the Cohesion Policy.
Financial Instruments for Innovation – 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 FI’s 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 FI’s with other support measures; or creating cross-border instruments.
SERN is one of the seven partners of INNOVA-FI project and will take the role of Communications Manager. SERN possess a long-standing experience in organising events as well as in liaising with EU partners and EU institutions, two core activities under Innova-FI. More information here.