European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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Innovation Fund Overijssel

Title of measure
Full title in national language:
Innovatiefonds Overijssel
Duration:
2017
Policy objectives Plus
4.1. Direct funding to business R&D and innovation
Presentation of the measure:

To stimulate innoations and strengthen the regional economic structure province Overijssel started the Innovation Fund Overijssel. Together with other parties, the fund provides risk-bearing capital to innovative enterprises in the sectors High Tech Systems & Materials (HTSM), Chemistry, Health/Life Sciences and cross-overs between these sectors. The fund is also available for enterprises active in the Agro-food, Leisure economy, Energy, or Construction sector. 
The Innovation fund provides two funding mechanisms: Innovation Credit or Participations.

Innovation Credit
The funding consists of a loan against market rate for the execution of a project plan. The loan may be used for the innovation of the organisations product, service or process. The credit is at most 50% of the total costs of the project, is at least €25,000 and at most €75,000, and has a maximum term of 7 years. 

Participation
The Innovation Fund participates in the business with risk-bearing capital. The capital invested is at least €100,000 and at most €2,500,000. 

 

Budget, source and type of funding
Year
National public funds
Regional public funds
EU Structural Funds
Private funds
Other
Form of funding provided
Subsidised loans (including interest allowances)
Venture capital (including subordinated loans)
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
It is too early to judge the success of the measure (e.g results of first call for proposals still not known).
Evidence of outcomes based on evaluation and other evidence:

None

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

None

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
No