Guide to Research and Innovation Strategies for Smart Specialisation

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authorities or energy service companies (ESCOs), or invest in such projects indirectly via financial institutions120. (Policy DG in charge: DG ENERGY). Structural Funds • In the present programming period (2007-2013), under the principle of shared management, Structural Funds' resources can be contributed to financial engineering instruments, which invest in the form of equity, loans, guarantees or other forms of repayable investments in enterprises, mainly SMEs, public private partnerships, urban development projects, or in legal or natural persons carrying out specific investment activities in energy efficiency and renewable energies. Cohesion policy does not finance individual projects directly at the EU level, instead it funds multi-annual national or regional operational programmes aligned with EU objectives and priorities and managed by national or regional authorities. EU Structural Funds are implemented within the framework of shared management and the legislation defines a clear division of responsibilities between Member States and the Commission. • JEREMIE - Joint European Resources for Micro to Medium Enterprises, is an initiative of the European Commission's Directorate General for Regional Policy (DG REGIO) developed together with the European Investment Fund in order to promote the use of financial engineering instruments to improve access to finance for SMEs via Structural Funds interventions 121 . (Policy DG in charge: DG REGIO). • JESSICA - Joint European Support for Sustainable Investment in City Areas, is a joint initiative of the European Commission's Directorate General for Regional Policy (DG REGIO) developed in co-operation with the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB) which is aimed at supporting sustainable urban development and regeneration through financial engineering mechanisms 122 . European Agricultural Fund for Rural Development (EAFRD) In the current programming period (2007-2013), similar to the Structural Funds and under the principle of shared management, the EAFRD contributes to support financial engineering actions such as loan funds, guarantee funds and venture capital funds. These funds, the set up of which depends on the choice of the Member States and on their needs, invest in agricultural and food processing enterprises, rural non-agricultural micro- and tourism businesses, or in legal or natural persons carrying out specific investment activities in rural areas in accordance with the relevant rural development programmes. Like in the case of the Cohesion policy, the EU rural development policy does not finance individual projects directly at the EU level, instead it funds multi-annual national or regional rural development programmes aligned with EU rural development objectives and priorities, and managed by national or regional authorities 123 . (Policy DG in charge: DG AGRI) EIB Group's own resources The European Investment Bank is the long-term financing institution of the European Union and its mission is to help implement the EU's policy objectives by financing sound business projects. Within this context the priority objectives for the EIB’s lending activities set out in 120 http://ec.europa.eu/energy/eepr/eeef/eeef_en.htm 121 http://ec.europa.eu/regional_policy/thefunds/instruments/jeremie_en.cfm 122 http://ec.europa.eu/regional_policy/thefunds/instruments/jessica_en.cfm 123 http://ec.europa.eu/agriculture/rurdev/index_en.htm 98
the Bank's operational plan are Economic and Social Cohesion and Convergence i.e. supporting the economically less developed regions of Europe, implementation of the knowledge economy, development of Trans-European Networks (TENs), support for small and medium-sized enterprises (SMEs), protecting and improving the environment and promoting sustainable communities, supporting the establishment of a sustainable, competitive and secure energy supply. The EIB has two main financing facilities: • Individual loans: provided to viable and sound projects and programmes costing more than EUR 25 million which are in line with EIB lending objectives. • Intermediated loans: credit lines to banks and financial institutions to help them to provide finance to small and medium-sized enterprises with eligible investment programmes or projects costing less than EUR 25 million. Microfinance has also been provided by the EIB in some countries. The European Investment Fund provides financial intermediaries an integrated risk finance product Range of SME finance, complementing the products offered by the European Investment Bank (EIB) with which the EIF forms the EIB Group. The EIF aims at satisfying existing and future market needs by designing innovative financial products such as equity products and debt products portfolio guarantees & credit enhancement and microfinance For the 2014-2020 programming period, the European Commission has proposed to establish a Programme for the Competitiveness of Enterprises and Small and Medium-sized enterprises (COSME). One of the activities funded through the Programme will aim to improve access to finance for SMEs in the form of equity and debt 124 . 124 http://ec.europa.eu/cip/files/cosme/cosme-commission-proposal_en.pdf 99
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European Union Regional Policy Guid
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Dominique Foray John Goddard Xabier
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TABLE OF CONTENTS INTRODUCTION ....
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LIST OF REGIONAL EXAMPLES Example 1
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horizontal approaches. These were i
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Smart specialisation has also been
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asked to play within that process i
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Who: Putting entrepreneurial knowle
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• Finally, radical foundation of
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• Secondly, this process is carri
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Therefore, they should not be thoug
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Tools suitable for this kind of ana
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Step 3 - Elaboration of an overall
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Step 6 - Integration of monitoring
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ANNEXES 27
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Step 1 - Analysis of the regional c
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problems, when regions remain too s
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3. 'Cluster' in-depth case studies
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Step 2 - Governance: Ensuring parti
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the contrary, they are offered as g
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'thing' that a minority of people p
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Some or all of these engagement mec
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national government agencies and th
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Each country and region will, of co
Page 49 and 50: side of the box provides a typology
Page 51 and 52: preparation and discussion of scena
Page 53 and 54: 2. Identification of the stakeholde
Page 55 and 56: But how to present the prioritised
Page 57 and 58: Traditional instruments Emerging In
Page 59 and 60: Type of OECD region by economic pro
Page 61 and 62: Developing a RIS3 involves a degree
Page 63 and 64: national statistics. If the program
Page 65 and 66: Being place-based Box 6 - Distincti
Page 67 and 68: ANNEX II: DELIVERY INSTRUMENTS AND
Page 69 and 70: Clusters and Smart Specialisation W
Page 71 and 72: • Promote cluster management exce
Page 73 and 74: Barriers and challenges Most SMEs a
Page 75 and 76: o the China SME IPR Helpdesk provid
Page 77 and 78: Science parks provide the advanced
Page 79 and 80: designing and delivering national a
Page 81 and 82: a mutual understanding of the drive
Page 83 and 84: Digital Agenda for Europe Why shoul
Page 85 and 86: • Rural Development: measures aim
Page 87 and 88: high speed internet infrastructure.
Page 89 and 90: For this, solid economic data is ne
Page 91 and 92: production and distribution methods
Page 93 and 94: • Develop innovative financial in
Page 95 and 96: all departments - research, innovat
Page 97 and 98: Financial engineering instruments W
Page 99: 2011: operated by the EIF on behalf
Page 103 and 104: • Higher impact of innovation inv
Page 105 and 106: • To support financially the proc
Page 107 and 108: energy potential and climate impact
Page 109 and 110: First, the sustainable management o
Page 111 and 112: get out of grant logic, become self
Page 113 and 114: ANNEX III: REGIONAL RESEARCH AND IN
Page 115 and 116: 5.2 Does it foster the internationa
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Guide to Research and Innovation Strategies for Smart Specialisation

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