The Entrepreneurship and Innovation Programme (EIP) is the largest pillar of CIP. Through the Lisbon Strategy, EU leaders have repeatedly emphasised the importance of creating a climate favourable for SMEs and innovation. Part of EIP funding has therefore been earmarked for innovation activities. The EIP innovation actions aim to support the development of innovation policy in the EU Member States and their regions and to facilitate the exploitation of synergies between national, regional and European innovation policy and support activities. Networking among stakeholders is supported in EIP to facilitate the flow of knowledge and ideas that are necessary for innovation.
With a budget of EUR 2.17 billion for the period 2007 to 2013, EIP aims to achieve its objectives through the following actions:
Access to finance for SMEs through EU financial instruments, which target companies in different phases of their life cycle: seed, start up, expansion and business transfer. They are managed by the European Investment Fund (EIF) and include three facilities:
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High Growth and Innovative SME Facility (GIF), which contributes to the establishment and financing of SMEs and reduction of the equity and risk capital market gap;
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SME Guarantees Facility (SMEG), which provides counter-guarantees or co-guarantees for guarantee schemes and direct guarantees for financial intermediaries;
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Capacity Building Scheme (CBS), which operates with international financial institutions such as the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB) to improve the investment and technology expertise of funds and other financial intermediaries. The EFTA Working Group on Enterprise Policy launched EFTA’s participation in these financial instruments at a seminar in Luxembourg on 28 June 2007.
A network of business and innovation service centres provide integrated business and innovation support services and form part of a European network, drawing on the experience of EuroInfo Centres (EICs) and Innovation Relay Centres (IRCs). They provide enterprises with up-to-date information on European directives and regulations, public sector contract opportunities, business opportunities, funding, research and development initiatives and much more. Established in 1987, the network has over 250 centres across Europe.
Support for initiatives to foster entrepreneurship and innovation to encourage the transnational networking of innovative companies and all other actors in the innovation process. This includes benchmarking initiatives and the exchange of best practices.
The eco-innovation action aims to make sustainable development become a business reality. It supports innovative products, processes and services to reduce environmental impacts, prevent pollution or achieve a more efficient and responsible use of natural resources.
Support for policy making is set up to encourage the transnational networking of innovative companies and all other actors in the innovation process.