Background

Innovation is recognised as a key component for the economic growth process. As the world economies become more integrated and interdependent, the ability of companies to seize global business opportunities by commercialising new products and processes faster than their competitors is critical for their growth.

SMEs play a very important role in the global economy as they represent the majority of wealth and jobs creation worldwide. Access to financing is one of the most significant constraints to the creation of SMEs, as well as their survival and development, in particular innovative companies which context is highly complex and with rapid changes.

The governments and the European Commission have recognised these limitations and have undertaken a series of measures to improve access to finance for SMEs. Despite the measures undertaken, SMEs still consider access to finance to be one of the most important constraints to their development.

Within the Lisbon Agenda the innovation-driven productivity is recognised as a key factor for economic growth. Improving the capabilities of innovative SMEs in accessing finance is crucial to foster competition and innovation and boost the European productivity and its sustainable growth.

The Portuguese EU Council Presidency underlines the importance of this objective by promoting the Forum "Financing Innovation – From Ideas to Market", in order to further discuss and seek alternative solutions, and/or initiatives to facilitate the financing process of SME, so that these can innovate at all stages of development.

Objectives

The Forum will have four workshops focused on the following key themes:

    From Ideas to Market
    Availability of early stage financing instruments and the importance of reinforcing business cooperation networks to help bridge the gap between ideas and market, as well as to foster technology transfer from universities and research institutions.

    Investment Readiness
    Well structured investment-readiness programmes that can make a difference to companies with high growth potential, particularly within the new Basel II environment, helping them find investors and realise their potential.

    The Right Environment
    A favourable legal, tax and regulatory environment, a proper institutional framework and risk-mitigating schemes, all of which can facilitate risk-taking and thus play a critical role in encouraging investment in entrepreneurial ventures.

    Savings for Growth
    Fund-raising instruments that can be used to break down barriers and mobilise stable, long-term sources of external business finance, as well as success factors for the development of middle market segments, involving private equity players, institutional investors and stock exchanges.