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Industrial innovation

"Mission Growth" Forum 1

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Forum 1: Financing Industrial Innovation

Financing the real economy and especially innovation is crucial for European recovery. As traditional sources of financing appear to be on the decline, the main question is whether alternatives to bank lending can help to overcome the current financing problems of enterprises.

In Europe about 2/3 of financing is provided through the banking sector, which is a stark contrast with the US where the ratio is less than 1/3. In the US, alternatives to bank lending are provided through a variety of players amongst which are hedge and money market funds, insurance companies, and corporates. These alternatives are less present in Europe and therefore the credit crunch resulting from the financial crisis has been severely felt by European corporates big and small.

Europeans are wondering if the expansion of alternative financing methods for European firms is only a temporary solution, triggered by the economic crisis, or a more permanent trend which will cause a serious economic shift.

On May 29th participants of the "Mission for Growth" Conference will bring up more details regarding alternative financing sources.

  • Richard Pelly, CEO of the European Investment Fund
  • Alessandro Decio, Head of Family and SME Division at UniCredit
  • Wolfgang Burtscher, European Commission, Deputy Director-General for Research and Innovation
  • Rudolf Niessler, European Commission, Director for Regional Policy Coordination
  • Andrea Benassi, Secretary-General of UEAPME
  • Karsten Langer, Chairman of EVCA, Partner at Riverside
  • Paul de Clerck, Friends of the Earth Europe

Discussion paper for Forum 1 pdf - 68 KB [68 KB]

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