CORDIS focus 115. 3 August 1998

Directorate-General For The Information Society And Media

Description

ISSN 1022-6559 3 August 1998 The tonfanti of this bulletin are based on RTD-News, updated every day, and other CORDIS databases. I-TEC VENTURE CAPITAL SCHEME EXTENDED The I-TEC (Innovation and Technology Equity Capital) pilot project which encourages venture capital investment in inno­vative enterprises is to be extended, with additional fitnding of ECU 3.5 million. Announcing the extension, Mrs. Edith Cresson, Commissioner responsible for research and innovation, welcomed the success of the first phase of the project since its launch in July 1997. With an initial budget of just ECU 7.5 million in EU funding, I-TEC has attracted a total of thirteen venture capital fund managers to pledge ECU 250 million for early stage investment in technologically innovative SMEs. The extension, I-TEC 2, will be run by the Commission under research centres will all be eligible to participate. Proposals the INNOVATION programme, in collaboration with the Euro­ from funds approved by the EIF for the new Growth and Em­pean Investment Fund (EIF), with the aim of increasing efforts ployment initiative will be given precedence under I-TEC 2. to tackle one of the main barriers to innovation in Europe - the The maximum EU contribution per fund may be increased lack of private capital investment.

Sujets

• Marketing et communication

Informations

• Publié par: DIRECTORATE-GENERAL-FOR-THE-INFORMATION-SOCIETY-AND-MEDIA
• Nombre de lectures: 5
• Langue: English
• Poids de l'ouvrage: 13 Mo

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