What we do
Public consultation on the EIB Group's Environmental and Social Sustainability Framework - informational webinars
Public consultation on the EIB Group's Environmental and Social Sustainability Framework
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
InnovFin SME Guarantee Facility
COSME - Loan Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
Central and Eastern European Technology Transfer (CEETT)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

How EFSI benefits SMEs in Europe - Innovation Industries case study: Solynta (Netherlands), Biotechnology

image

There are three main markets for potatoes: firstly, the consumer market for the potato we all use in home cooking; second, the processor market for the potato that will be processed – they need baseball-shaped potatoes to minimise waste when they make crisps, or brick-shaped potatoes to for fries. And thirdly, there’s the developing world market, where potatoes need to be more resistant to drought, pests or specific diseases.

Hein Kruyt, CEO of Solynta, has been conducting extensive research into selective breeding and phenotyping of potatoes with support from EU research grants. “This is not genetic modification,” he clarifies, “we have basically spent ten years breeding potatoes in order to obtain potato seeds with the right characteristics, like shape, higher nutritional value, or greater resistance to drought, pests and disease.”

Solynta, the company that Hein set up to develop these hybrid potato seeds, is now moving from the research stage to commercialisation. “After years of research, we now aim to get the seeds to the market in 2021” Hein explains. “We recently proved that the technology works. That was a key moment. We were doing some tests in Uganda and the Congo, and one of the farmers actually started crying when he saw the potential of these new hybrid seeds. He was explaining that the increased yields would allow him to pay for school fees for his children. It was – in his own words – the first time he could see a future for his family. It still gives me goose-bumps.”

With the company now moving into the next stage in its development, Solynta has received an important equity investment from Innovation Industries, an EIF-backed venture capital fund that specialises in technology, supported under the EU’s Investment Plan for Europe. “We needed funding to prepare for the commercialisation of the hybrid potato seed, scaling up seed production and setting up a supply chain, and business development and sales teams,” says Hein.

Solynta’s potato seed promises to be revolutionary, with 25 grams of potato seed needed to plant a hectare, instead of 2500kg of bulky and perishable potato tubers. “We are convinced that the commercialisation will bring lots of benefits to consumers and farmers across the world, through the availability of highly nutritious potatoes, especially in regions suffering from severe malnutrition, and much lower use of pesticides. It will be better for the planet, the wallet and for health,” he adds.

Company: Solynta (Netherlands)

Type of business: Biotechnology

EIF financing: InnovFin Equity, EFSI

Financial intermediary: Innovation Industries

For further information about EIF intermediaries in Spain, please refer to: http://www.eif.org/what_we_do/where/nl

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2021 – The European Investment Fund is not responsible for the content of external internet sites.