About the workshop
The European Commission's Directorate-General for Regional and Urban Policy (DG REGIO) and the European Investment Bank (EIB) organised the fi-compass thematic workshop 'ERDF equity for innovation 2021-2027', on 26 and 27 February 2024, in Athens, Greece.
The European Union is where many global innovators in various key economy sectors start their entrepreneurial journey. Yet, market failures often hamper ambitions of innovative new ventures due to traditional banking sector’s reluctance to finance higher-risk venture investments. The EU also lags in R&D investment compared to other parts of the world.
Equity and quasi-equity instruments under the European Regional Development Fund (ERDF) are potential financial tools to support the VC ecosystem in the Member States and regions, and to enable the growth of the EU’s innovative companies in their entire funding lifecycle. Yet, according to the most recent EC report on use of financial instruments, ERDF programme amounts committed through equity instruments are still relatively sparse, compared to other products.
The workshop focused on investments in innovation through ERDF equity and quasi-equity instruments, by drawing on the experience of the 2014-2020 ERDF EquiFund in Greece, as well as other examples from the Member States and regions, including those funded from other EU or national resources. It provided participants with inspiration, know-how, and an opportunity to exchange experiences and share best practices with their peers and with experts from the European Commission and the EIB Group.
The workshop covered the following topics:
- Investments in innovation: examples of successful ERDF equity and quasi-equity instruments, including the ERDF-funded EquiFund in Greece;
- Enhancing and leveraging the use of equity/quasi-equity instruments funded with 2021-2027 ERDF resources;
- Practical challenges in implementing these instruments for managing authorities and fund managers;
- Combining grants with equity instruments, including with other EU and national funding schemes;
- Opportunities to support/develop the equity investment ecosystem, including the need for additional fund manager capacity building.
Presentations
Day 1: 26 February 2024
Related resources
Listen to the latest podcast on equity instruments under the European Regional Development Fund (ERDF).
Discover the key features of equity financial instruments, together with industry best practice, to support managing authorities and other fi-compass stakeholders seeking to implement equity financial instruments in the future.
EquiFund is an ESIF fund of funds in Greece with an overall volume of EUR 448 million and nine equity financial instruments. Its mission is to provide access to equity financing to companies that are established or have a branch in Greece and to accelerate the development of venture capital (VC) and private equity (PE) in Greece.
This case study explains how innovative Berlin’s start-ups grow and scale thanks to Venture Capital (VC) investments co-financed with 2014-2020 European Regional Development Fund (ERDF) resources.
This document aims to describe a model financial instrument that managing authorities may use for quasi-equity financial instruments co-financed with shared management funds.
This video case study features the EquiFund ESIF fund of funds in Greece. Set up with an overall volume of EUR 448 million, it comprises nine equity financial instruments that provide access to equity financing to companies that are established or have a branch in Greece. In addition, the managing authority aims to use EquiFund to accelerate the development of venture capital (VC) and private equity (PE) in Greece.
Listen to the podcast and discover how equity financial instruments help technology-based SMEs grow and thrive.
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