Innovation

COMPETITIVENESS and INNOVATION PROGRAMME

CiP brings together a number of existing activities that support competitiveness and innovation into one programme. However, it’s budget for 2007-2013 is very considerably smaller than that of FP7 at around €3.6bn. In drawing a broad distinction between CiP and FP7, FP7 focuses on the invention and demonstration of new knowledge and products, whereas CiP will target the next stage – the application of such outputs.

There will be 3 programmes:

• Entrepreneurship and Innovation Programme – aims to help enterprises innovate by providing access to finance.
• ICT Policy Support Programme – building on previous programmes in line with i2010.
• Intelligent Energy-Europe Programme – will encourage the wider take-up of new and renewable energies and improve energy efficiency.

Among its new features CiP will include:

• a new risk capital element (the High Growth and Innovative Company Facility – GIF2) aimed specifically at innovative and high growth SMEs.
• A scheme to support cooperation between national and regional programmes for business innovation.
• One-stop-shops through Euro Info Centres and Innovation Relay Centres.
• An instrument for securitisation of bank loan portfolios to free up further SME loan capacity among smaller and regional banks.

For more information click here.