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InnovFin, which finances innovation in Europe, is a joint initiative of the European Investment Bank Group, formed by the EIB and the EIF (European Investment Fund), and the European Commission, within the framework of the Horizon 2020 programme, which aims to finance research and innovation within Europe.
The philosophy behind InnovFin is based on a partnership that seeks to share risk, which allows banks to support innovative companies.Nobby Brausch - Head of Banque des Entreprises et Secteur Public
In order to boost innovation, this programme provides a whole range of tools to facilitate and accelerate access to funding for innovative companies in Luxembourg and in the European Union.
The InnovFin guarantee is one of these tools and enables banks to support SMEs (small and medium-sized companies) and mid-cap companies in innovative projects by guaranteeing 50% of the financing granted.
BCEE is joining the programme with a budget of 40.000.000 euros split over the next two years. The Bank will thus be able to grant financing under favourable terms of up to 7.500.000 euros to innovative projects.
Support to the national economy, one of BCEE’s strategic missions, and the InnovFin programme are perfectly complementary.Nobby Brausch - Head of Banque des Entreprises et Secteur Public
As a shareholder of the European Investment Fund, BCEE is proud to join the InnovFin programme and thus support companies contributing to Europe’s sustainable growth and competitiveness. Innovation is the driving force of the economy and transforms our society. It is only by encouraging the transformation of an innovative idea into a commercial project that we can help improve the future, and do so in numerous areas of activity.
In order to benefit from the InnovFin guarantee from BCEE, the company must be:
The financing period may extend from 1 to 10 years. In addition, the company must meet at least one of the innovation criteria that have been defined by the EIB and which enable the bank to categorise the company’s project among the objectives defined by the InnovFin guarantee. BCEE is happy to answer any questions on these eligibility criteria, and offers comprehensive advice to companies seeking financing opportunities for their innovative projects.