About EIF
The EIF central mission is to support Europe’s SMEs by helping them to access finance. EIF designs and develops venture capital and guarantees instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About CIP
The Competitiveness and Innovation Framework Programme (CIP), which spans from 2007 to 2013, has been put in place to boost European productivity, innovation capacity and sustainable growth, whilst simultaneously addressing complementary environmental concerns.
Within the framework of the CIP, the European Investment Fund (EIF) has been allocated EUR 1.1bn to be split between venture capital – with the High Growth and Innovative SME Facility (GIF) - and guarantees – with the SME Guarantee Facility (SMEG).
EIF’s investment is funded by the European Union, through the Competitiveness and Innovation Framework Programme (CIP). CIP is a EUR 1.1bn facility managed by EIF, which is be split between Venture Capital and Guarantees. It covers the period 2007- 2013. CIP’s objectives are to generate economic growth and create more jobs as well as boost productivity, competitiveness and innovation in the EU, optimising the use of European Union funds to support SME’s access to finance.
