This new instrument will help to make more financing available for promoters of research & innovation projects, which often face more difficulties than traditional business sectors in accessing finance, due to the relatively high levels of uncertainty & risk inherent to their activity. The RSFF, part of the EU's 7th Research Framework Programme (FP7) & EIB’s programme for Research & Innovation, will partially cover the financial risks assumed by the EIB when financing this type of activity. The contribution of €1 billion each from FP7 & the EIB will therefore unlock billions of additional financing in this area.
"Europe needs to find ways to boost investment in research, particularly from private companies" said European Science and Research Commissioner Janez Potocnik. "The Risk Sharing Finance Facility is one of the most exciting new ideas in the EU's 7 th Research Framework Programme, and through co-operation with the EIB will unlock billions of new investment for research, development & innovation in Europe."
“RSFF is the demonstration of a very effective cooperation between two EU Institutions to support European competitiveness," said EIB President Philippe Maystadt. "By targeting higher risk financing in support of research & innovation projects, the facility will in an efficient way complement the existing support instruments including national & EU grants as well as market debt and equity funding”.
This major initiative is launched simultaneously in Hamburg and Luxembourg. The Agreement was signed in parallel by EU Science & Research Commissioner Janez Potocnik during the 4 th European Conference on Research Infrastructures (ECRI 2007) in Hamburg and by EIB President, Philippe Maystadt, during the annual meeting of the EIB Board of Governors in Luxembourg. ECRI 2007 also saw the launch of the European X-ray Free-Electron Laser (XFEL), identified in the European Strategy Forum for Research Infrastructures (ESFRI) roadmap . This truly European research infrastructure, supported by 13 partner countries, will be a world leading facility for the production of intense, short pulses of X-rays for scientific research in a wide range of disciplines.
The Risk-Sharing Finance Facility
If the EU is to reach its target of investing 3% of its GDP in research, it is vitally important to boost private sector investment in R&D. An important pre-condition to achieving this is mobilising financial markets. However, financial markets and financial institutions are often reluctant to back research intensive companies or research projects due to the relatively high levels of uncertainty and risk inherent to their activity compared to more traditional business areas. The Risk-Sharing Finance Facility (RSFF) is a direct answer to these challenges. Its objective is to improve access to debt financing for promoters of research & innovation investments by sharing the underlying risks between the EU & the EIB. This risk-bearing instrument will cover, through capital allocations & provisions, the risks born by EIB when lending directly to the promoter, or when guaranteeing loans made by financial intermediaries (e.g. banks in Member States & Associated countries). Together, both institutions will provide up to €2 billion for the period 2007-2013 (up to €1 billion each). These contributions will translate into billions of additional financing available to innovative companies & the research community as a whole.
Initially, RSFF is likely to benefit mostly medium & large innovative companies & large scale research undertakings such as European or national Research Infrastructures. However, RSFF will also be open to private & public entities of any size and ownership promoting eligible RDI activities, including SMEs, research organisations & Public-Private Partnerships contributing to FP7 objectives.
European Research Infrastructures
Research Infrastructures play a crucial role for the promotion of knowledge and technology in Europe, bringing together a wide diversity of scientists & disciplines. In 2006, ESFRI published its roadmap identifying 35 priority EU-scale infrastructures required in key scientific areas. For a total estimated cost of €14 billion, these major infrastructures will require a coordinated approach from national, private and other sources of funding. The RSFF could boost the emergence of these new research facilities.
Michael H. Wappelhorst | alfa
Europe's microtechnology industry is attuned to growth
10.03.2017 | IVAM Fachverband für Mikrotechnik
Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)
The Institute of Semiconductor Technology and the Institute of Physical and Theoretical Chemistry, both members of the Laboratory for Emerging Nanometrology (LENA), at Technische Universität Braunschweig are partners in a new European research project entitled ChipScope, which aims to develop a completely new and extremely small optical microscope capable of observing the interior of living cells in real time. A consortium of 7 partners from 5 countries will tackle this issue with very ambitious objectives during a four-year research program.
To demonstrate the usefulness of this new scientific tool, at the end of the project the developed chip-sized microscope will be used to observe in real-time...
Astronomers from Bonn and Tautenburg in Thuringia (Germany) used the 100-m radio telescope at Effelsberg to observe several galaxy clusters. At the edges of these large accumulations of dark matter, stellar systems (galaxies), hot gas, and charged particles, they found magnetic fields that are exceptionally ordered over distances of many million light years. This makes them the most extended magnetic fields in the universe known so far.
The results will be published on March 22 in the journal „Astronomy & Astrophysics“.
Galaxy clusters are the largest gravitationally bound structures in the universe. With a typical extent of about 10 million light years, i.e. 100 times the...
Researchers at the Goethe University Frankfurt, together with partners from the University of Tübingen in Germany and Queen Mary University as well as Francis Crick Institute from London (UK) have developed a novel technology to decipher the secret ubiquitin code.
Ubiquitin is a small protein that can be linked to other cellular proteins, thereby controlling and modulating their functions. The attachment occurs in many...
In the eternal search for next generation high-efficiency solar cells and LEDs, scientists at Los Alamos National Laboratory and their partners are creating...
Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are less stable. Now researchers at the Technical University of Munich (TUM) have, for the first time ever, produced a composite material combining silicon nanosheets and a polymer that is both UV-resistant and easy to process. This brings the scientists a significant step closer to industrial applications like flexible displays and photosensors.
Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are...
20.03.2017 | Event News
14.03.2017 | Event News
07.03.2017 | Event News
28.03.2017 | Life Sciences
28.03.2017 | Information Technology
28.03.2017 | Physics and Astronomy