Topic 2 - WIPO - World Intellectual Property Organization

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,The Risk Sharing Finance Facility (RSFF); -innovative finance for innovation-6th WIPO FORUM ON IP and SMEsCardiff, 10th September 2021Dr. Jacques van der Meer,1,EUROPEAN INVESTMENT BANK,Promoting European Objectives,2,The EIB Group,The European Investment Bank (EIB),The European Investment Fund (EIF),3,EIB lending in 2007 (EUR 47.8 billion),4,Innovation 2021 Initiative (i2i)Enactment of the Lisbon Agenda,ICT,: Development of information and communication technologies and networks, modernisation and extension of networks, enhancing its accessability,Education and Training,: modernisation/ upgrading of education facilities; training centres for teachers, ICT-specialist, accessibility (student loans), etc.,R&D and innovation,private and public sector research, science parks, research centres and networks;,5,The Lisbon house,Better Regulation/ Internal Market,C,ompetitiveness and,I,nnovation Framework,P,rogramme,Industrial Policy,SME,Policy,Innovation,Policy,R.S.F.F.,6,RSFF: the set up,OWN RESOURCES,EUR 1bn,RSFF,provisioning & capital allocation,EUR 1bn,Beneficiaries,Size of loans,Eligible projects and costs,Terms and products,EUR 10bn in Financing Capacity,5,7,RSFF: Policy objectives,Support financing of innovative companies of any size and ownership for the implementation of eligible RDI projects,Provide value added by sharing risks with promoters, banks and other financiers for the financing of eligible projects,Offer RSFF access to small and medium sized projects and companies,Priority of European Technology Platforms, Joint Technology Initiatives and Eureka,Support European Research Infrastructures,Support innovative clusters, networks,8,Beneficiaries of RSFF financing ?,Mid-Caps and large,corporates,(unrated / sub investment grade / turnaround situations),SMEs,Research Institutes,Universities,Special Purpose / Project Companies,Research Infrastructure promoters,Industrial and regional clusters/networks,9,Expenditures eligible for RSFF lending,Project capital expenditures in tangible & intangible assets (Capital Formation),research staff cost (basic research, industrial research, development, pilot innovation (technological or organisational),incremental working capital needs.,Development and Acquisition of -,proprietory,- IPR, and other related operating expenses,Product innovation includes testing, prototyping and launch of pre-series of first commercial application,Process innovation refers to development and introduction of new working methods and tools, such as ICT-driven innovation,10,RSFF, definition of the loan size,0,10,20,30,40,50,60,70,Eligible Costs,Max. EIB Financing,mEUR,Eligible Costs,RDI Budget,50%,ELIGIBLE COSTS, 20m,Project,related,CAPEX on tangible & intangible,assets,Research,staff,cost,Incremental,working,capital,Related,operating,costs,Time,Year 1, 10m,Year 2, 30m,Year 3,Total, 60m,Investment costs can encompass 3-4 years,RSFF can be used to finance up to 50% of the eligible investment costs,Up front or flexible disbursement (e.g. at mile stone events) to match Cash Flow,Minimum size per loan: EUR 7.5m (minimum “project-size EUR 10-15 million),11,RSFF Financing terms,Medium and long term financing, depending on “assets and risk profile,Project assessment : eligibility, techno-economic and financial viability and risks,In-house sector / risk pricing expertise,No equity stake, hence no dilution of ownership,Grace period, to march CF of the project,Milestone events related pricing (?),12,RSFF product development.,Corporate Loans (senior / junior),Project Finance (limited/non recourse),Mezzanine Loans,Risk Sharing Facilities with banks,corporates, others,Other structured products,13,Dr. Jacques B.H. van der Meer,Projects Directorate,Innovation and Competitiveness Department,Manufacturing and Industry (RDI),Phone: (+352) 4379 88 624,Fax: (+352) 4377 68 8831,eMail: j.vandermeereib.org,European Investment Bank,100, boulevard Konrad Adenauer,L-2950 Luxembourg,14,