Risk Sharing Instrument for Innovative
Research oriented SMEs & Small Mid-Caps (RSI)

What is RSI ?

The RSI Facility is a joint pilot guarantee scheme of the EIF, EIB and the European Commission (DG Research & Innovation) aiming at improving access to debt finance of innovative SMEs and Small Mid-Caps (enterprises with less than 500 employees) in support of their research, development and innovation (RDI) projects.

By targeting research-based SMEs and Small Mid-Caps, RSI complements the scope of the existing Risk Sharing Finance Facility (RSFF), which is mainly addressed to large Corporates and Mid-Caps.

The EIF does not support entrepreneurs directly but thorugh selected financial intermediaries. Under RSI, EIF issues guarantees and counter-guarantees to such intermediaries, thus allowing them to provide loans, financial leases and loan guarantees to research-based SMEs and/or Small Mid-Caps. Serving as ground for the 2014-2020 programming period, RSI also complements other existing EU SMEs support schemes, such as the CIP/SMEG programme

What is RSI geographical reach?

RSI shall be available for financial intermediaries in RSFF 7th EU Framework Programme countries i.e. EU-27 Member States as well as Associated Countries eligible under the RSFF, such as Iceland, Liechtenstein, and Norway, Switzerland, Israel, Turkey, Croatia, the former Yugoslav Republic of Macedonia and Serbia, Albania and Montenegro, Bosnia & Herzegovina, Faroe Islands and Moldova. Other countries may become associated during the course of  FP7 subject to certain conditions.

Who are RSI target beneficiaries?

Research-based and innovative SMEs and Small Mid-Caps established and operating in one or several of the  EU 27 Member States or Associated Countries (see above), subject to fulfilling certain criteria, will be eligible to benefit from RSI.  RDI activities carried-out by SMEs and Small-Mid-Caps should not breach ethical principles or focus on one or more EIF restricted sectors.

Who is eligible to become a Financial Intermediary under RSI?

Financial or credit institutions duly authorized to carry out lending or leasing activities (or in the case of RSI counter-guarantee: guarantee schemes, guarantee institutions or other credit or financial institutions duly authorized to issue guarantees) according to applicable legislation, established and operating in one or more 27 EU Member States or Associated Countries (see above) would be eligible to apply to become Financial Intermediaries under RSI.