EUREKA launches new service for fast-growing EUREKA-labelled SMEs
EUREKA has launched a new website offering information and advice on private funding to research-performing small and medium sized enterprises (SMEs) and venture capitalists (VC). By featuring information on stock markets, mergers and acquisitions, as well as intellectual property protection and a list of 'Do's and Don'ts' compiled by EUREKA's pool of partners and experts, the website aims to help budding entrepreneurs make the big leap from the drawing board to the market place. As European SMEs create jobs and commercialise innovative products and services, EUREKA plays an important role in the process of helping its labelled-SMEs gain credibility and supporting them in finding the private finance they need. 'The EUREKA label brings visibility, credibility and a track record; something tangible upon which to base an investment decision,' maintains Pierre Collowald, Valorisation Manager at the EUREKA Secretariat, who guides SMEs through the world of private finance. 'It's about helping SMEs understand the requirements of investors and preparing them to approach venture capital funds and business angels,' he adds. And the statistics speak for themselves. Some 200 venture capitalists have invested in EUREKA-labelled SMEs and around 70 SMEs have received venture capital funding. 'It's an ideal way to approach the venture capital market as it offers concrete information on the venture capital industry, tips on venture capitalist criteria and also includes efficient ready-to-use tools to build a professional relationship with investors,' states Mr Collowald. For the venture capitalist, the website is an ideal starting point for more information on the appeal of the EUREKA initiative and its SMEs, with examples of successful projects which have received funding. EUREKA is committed to enhancing the competitiveness of European industry through the promotion of cross border, market-oriented innovation. This pan-European inter-governmental initiative was established in 1985 and now enables industry and research institutes from 37 member countries and the European Union (EU) to collaborate in a bottom-up and market-oriented approach to developing and exploiting innovative technologies. Over €24 billion of public and private funding has been mobilised to support research and development (R&D) carried out within the EUREKA framework.