|The European Technology Facility Startup Facility (ETF Startup Facility) |
ETF Startup is part of the European Commission's Growth & Employment Initiative and aims to provide risk capital to innovative SMEs through investment in relevant specialised venture capital funds. ETF Startup will reinforce the existing facilities by targeting a segment of the venture capital market with a higher inherent investment risk, notably innovative SMEs at establishment and early stages. It will also be able to support funds operating regionally or funds focused on a specific sectors such as information and communication technologies, health care, biotechnology and environmental protection or venture capital funds linked to research centres and science parks. By focusing on a segment of the market with a higher element of risk, ETF Startup will reach innovative SMEs which neither the European Investment Bank nor the EIF can easily support because of their statutory higher risk criteria. An indicative figure of Euro 150-190 million is envisaged for this scheme over the period 1998-2000 (Euro 50 million in 1998).
ETF Startup is managed on behalf of the European Commission by the European Investment Fund, alongside its own equity operations and alongside the European Technology Facility.
Innovative SMEs willing to benefit from the ETF Startup Facility will have to contact directly the financial intermediaries which are selected by the EIF or they can first seek guidance on innovation financing sources and how to prepare for them from the Gate2Growth Initiative.
List of Venture Capital funds participating in the ETF Start-up Facility