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A publication from the �Innovation and participation of SMEs� programme, part of the European Commission�s Fifth Research Framework Programme. The Innovation and SMEs programme promotes innovation and encourages the participation of small and medium-sized enterprises (SMEs) in the framework programme.

This study looks not at equity but at loan finance and associated services offered by commercial banks to a particular subset of small firms - new technology-based firms or NTBFs. The classic definition of an NTBF is a firm that is less than 25 years old, is independent of larger companies, and is established to exploit inventions or innovations.

The study attempts to understand the situation from the supply side, and to codify good practice. Data were collected by interviews with 49 bank branches across Europe, and in the United States and Israel, chosen for their proximity to science parks, where one would expect to find clusters of potential NTBF customers. Expert interviews and a literature search were also conducted.

Additional information

Authors: No author stated, European Commission DG Enterprise, Luxembourg (LU)
Bibliographic Reference: EUR 17025 EN (2000), 81 pp. Free of charge
Availability: EUR-OP reference: NB-NA-17-025-EN-C Available from European Commission, Enterprise DG: - Documentation Centre Fax: +32-2-2969930 E-mail:
ISBN: ISBN: 92-828-9731-1
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