InnovFin Emerging Innovators provides financing to entities of all sizes (including SMEs, mid-caps and entities with 3 000 employees or more) in support of R&I activities or infrastructures falling under the scope of the Eureka Network or the European Research Area (ERA) under the Horizon 2020 programme as well as R&I activities under the Euratom fission programme.

Beneficiaries must be located in a country labeled as Moderate and Modest Innovators in the European Innovation Scoreboard or in an Horizon 2020 Associated Country.

Specific R&I infrastructure projects may be located elsewhere if carried out by entities incorporated in an InnovFin Emerging Innovators participating country.

InnovFin Emerging Innovators is also targeted towards small and medium-sized entreprises (SMEs) or mid-caps (less than 3 000 employees) which are fast-growing and/or innovation-driven.

To be considered as innovative under InnovFin Emerging Innovators, companies must comply with at least one of the following statements:

• Intention to use the EIB financing to invest in producing or developing products, processes and/or services that are innovative and where the business plan indicates a risk of technological or industrial failure, or a business risk
• The company’s registered office is in a science, technology or innovation park, technology cluster or technology incubator, in each case with activities relating to R&I
• The company has benefited from tax credit or tax exemption related to R&I investment in the last 24 months

For fast-growing companies with high turnover or employment rate

• Average annualised growth in turnover greater than 10% a year, over a three-year period
• Average annualised growth in full-time employees of at least 5% a year, over a three-year period (with one hundred or more employees at the beginning of the observation period)

For innovation-driven companies or companies with significant innovation potential

• R&I expenses/investment that are at least equal to 5% of its annual turnover
• The company undertakes to spend an amount at least equal to 80% of the EIB financing on R&I expenses/investment in the next 36 months as indicated in its business plan
• It has been formally awarded grants, loans or guarantees from European R&I support schemes (e.g. Horizon 2020 or FP7) or through their funding instruments (e.g. Joint Technology Initiatives, “Eurostars”) or through a national or regional research or innovation support scheme over the last 36 months
• It has been awarded an innovation prize over the last 24 months
• It has registered at least one patent in the last 24 months
• It has received an investment from a private-equity fund or from a business angel that is a member of a business angel network; or such a private equity fund or business angel is a shareholder of the company at the time of its application for the EIB loan