I-TEC funds have nearly 500 million euro to invest in SMEs
Over the next three years, 28 fund managers will invest more than 490 million euro in technologically-innovative small and medium-sized enterprises (SMEs), thanks to the European Union (EU) I-TEC (Innovation and Technology Equity Capital) project. The I-TEC project helps venture capital fund managers develop expertise in the assessment and management of investments in young firms in advanced technologies. Of the 28 I-TEC funds, seven are based in the UK, five in Germany, four in France, three in Belgium and one each in Austria, Denmark, Finland, Ireland, Italy, Sweden and The Netherlands. In addition, two Israel-based funds are taking part in the context of the EU's Fifth Framework Programme for Research, Technological Development and Demonstration.