Innovation 0 Technology t » INNOVATION PROGRAMME · NOVEMBER 1997 Building bridges between researchers, entrepreneurs and investors When you back the industrial and commercial development of a technological innovation, you are betting on the future. But one of the major obstacles facing innovative enterprises in Europe is finding the necessary finance. To grow, or even exist, they must attract venture capital. This is particularly true in the case of SMEs. They must convince very specific investors who are prepared to inject money into their equity capital and thus back up their wager with real commitment. Although available funds for venture capital do exist POLICY NEWS 35 Debate:youngpeople¡nEurope's programmesand have greatly increased in Europe over recent years, in■ EuropeanR&D:bythenumbers vestments in technological innovation remain far from adINNOVATIONPROGRAMME NEWS 612equate. This is not due to any "illwill" on the part of the fiInnovation projectcasestudy: flash memory■ Event: RTD information systems ■ CORDIS: Call nancial world, but is because the bridges between refor tenders ■ IRC newsletter: Great Expectations searchers and industrialists are poorly structured.