Financing innovation projects
Fostering innovation in the Mediterranean region starts with the improvement and active promotion of entrepreneurial support services and mechanisms to finance and assist the incubation of innovative projects. The aim is to make these projects more bankable.
The EIB has substantial experience in this field, having been mandated by the EU Member States since 2002 under the Lisbon strategy. FEMIP has been applying this know-how in support of the private sector in the Mediterranean.
In particular, since 2007 a joint initiative taking account of the Mediterranean’s specific features has been developed by the World Bank, the European Commission and the EIB, including, notably, the production of a guide book on technology parks.
The aim of the IT1 programme is:
- Firstly, to improve knowledge about national innovation systems and foster their development and to identify the areas for improvement in these systems;
- Secondly, to strengthen the initiatives aimed at developing the skills and information of entrepreneurs and the different innovation players and at activating innovation financing mechanisms.
The proposed programme for 2009-2011 consists of:
- A benchmarking study of incubation financing mechanisms targeting a number of Mediterranean countries;
- A study to design a website providing information on innovation support and financing mechanisms;
- Seminars in which experts exchange ideas on selected topics and a Mashrek conference aimed at policymakers on the problems of developing technology parks.
The programme has initially brought together the EIB and the World Bank and is open to other organisations.
More information: