The new initiative will provide EUR 45 million of combined resources to support the commercialisation of research in Spain’s Catalonia region
The programme will help support the emergence of technology transfer fund managers in the local ecosystem

The European Investment Fund (EIF), part of the European Investment Bank Group, in partnership with Institut Català de Finances (ICF) , will select a fund manager for Fons d’Inversió en Tecnologia Avançada (FITA), a fund which will target technology transfer (“TT”) investments in Catalonia. FITA will make available risk financing to TT projects and companies to support the commercialisation of scientific achievements and research linked to Catalonia.

EIF Chief Executive, Alain Godard said: “Investment in innovation and technology transfer are key to the long-term sustainable green economy, job creation, and global competitiveness of the European Union. We are pleased to be entering this agreement with the Institut Català de Finances to help to identify tech projects and companies. This funding will be crucial for supporting the commercialisation of new research ideas linked to Catalonia.”

Jordi Òliva, CEO of ICF said: “The agreement with the EIF is great news for technology transfer in Catalonia. The launch of FITA will allow the support of projects that contribute to the acceleration and consolidation of research and development initiatives, as well as emerging companies in the scope of universities, research, business, industry and green energy, among others.”

An investment partnership for technology transfer

Both EIF and ICF will act as investors in FITA. ICF will invest EUR 30m of resources from the Generalitat of Catalonia, with EIF investing at least EUR 15m of its managed resources. Additionally, commitments from private investors will be sought, with a view to attracting the local investment community to TT as an asset class longer term. It is expected that FITA will have a target size of EUR 55m.

FITA will target to improve the availability of finance for TT projects through very early-stage equity and equity-type investments aimed at commercialising the research output of local universities. Catalonia is one of Spain’s most developed regions when it comes to research, development, and innovation. FITA will help unleash the full potential of such activity in driving growth and job creation, also in relation to the green transition.

The fund will be a first for the region, with EIF supporting development of the local TT ecosystem alongside ICF, the national promotional institution based in Catalonia, which will act as EIF’s local investment partner under FITA.

Launch of the call for expressions of interest

EIF has published a call for expressions of interest to identify a fund manager which will be responsible for the establishment and management of FITA.

Background information: FITA | eif.org

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance 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 ICF

The ICF is the public financial entity of Catalonia, whose main mission is to promote financing for the business community in Catalonia in order to contribute to growth, innovation and the sustainability of the Catalan economy. The ICF acts as a complement to the private sector by offering a wide range of financing solutions focusing on loans, guarantees and venture capital. Since 2014, it has been a member of the European Associations Public Banks (EAPB), which groups a large proportion of the banks and public financial entities operating in Europe.

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