Cleantech

In November 2007, EIF signed a new venture capital mandate with the European Commission: the High Growth and Innovative SME Facility (GIF) under the Competitiveness and Innovation Framework Programme 2007-2013 (CIP).

The programme is set up with two windows

GIF 1 covers investments into funds with an early stage focus, including seed funds and funds dedicated to technology transfer activity, plus funds relating to business angels will be considered.

GIF 2 covers investment into funds with a focus on SMEs with high growth potential in their expansion stage.

GIF focuses on the emerging 'cleantech' or 'eco-innovation' sector. 'Eco-innovation' is defined as innovation aiming at significant and demonstrable progress towards the goal of sustainable development, through reducing impacts on the environment or achieving a more efficient and responsible use of natural resources, including energy.

The GIF mandate will seek investments in funds which have this as part or all of their investment focus. This emerging sector is rapidly developing, with innovative technology companies having the opportunity to help meet the challenges posed by climate change and high energy costs.