1. Advisory support to innovation
Pathway to next MFF
Innovative Enterprise Week Sofia 2018
Simon Barnes, Head of Advisory Services
European Investment Bank
Sofia, 14 June 2018

2. European Investment Advisory Hub
EIB Advisory Services: recognising there are no neat boxes in real life
A single access point to a comprehensive offer of advisory and technical assistance services for innovation
European Investment Advisory Hub
Innovation Finance Advisory
A cooperation platform to leverage and exchange expertise from EIAH partners
Targeted advisory support that is specific to the sector and stage of life of the company

3. Advisory Support for Innovation
Project Advisory
Pipeline Development
Market Consultations
Advise companies on EIB and other sources of financing
Improve bankability/ investment readiness
Enable earlier/ faster access to finance
Improve framework conditions for financing
Develop “business case” for new financing mechanisms in RDI sectors
Prepare studies on increasing effectiveness of financial instruments to address specific sector/RDI policy objectives
Project
Advisory
Innovation Finance Advisory
Horizontal Activities
Transfer of Lessons Learned
Funding
Investment Platforms
Leverage horizontal (market) studies to identify funding gaps
Where necessary, recommend internal EIB-managed instruments and/or Investment Platforms (IP)
Structure/implement IP that mobilise public/private investors
Funding Gap Analysis
Access to Finance studies for:
Investments in Bio-based Industries and the Blue Economy
Projects Supporting Circular Economy
Agri-food
Digital Economy
etc
Circular Bioeconomy Investment Platform*
(InnovFin Thematic Investment Platforms)
* under development

4. Project Advisory: a diverse portfolio
IFA PA Portfolio 2017 –
By Sector
IFA PA Portfolio 2017 –
By Country
In 2017 IFA actively advised on 77 projects, and screened in detail about 50 more
Out of those, IFA referred over 20 projects to EIB lending team, of which 4 to be signed within H1 2018
Additional projects referred to outside investors

5. Examples of Project Advisory
Indivumed, Germany – Life Sciences
Newlisi, Italy – Circular Economy
Activity
Integrated oncology company undertaking cancer research in biomarker development and drug discovery
Based on leading biobank of high-quality biospecimens and clinical data: Over 670,000 biospecimens, 4.5M clinical data points, 100 own standardised operating procedures
Activity
Developer of innovative and proven circular technology to reduce sludge from industrial and municipal waste water treatments
Based on patented physical-chemical process that solubilises organic compounds in sludge through low temperatures and atmospheric pressure
Results: Up to 70% sludge volume reduction and over 40% improvement in biogas production & energy recovery
IFA support
Identified Indivumed as an innovative company
Worked alongside management to improve business plan and capital structure
Guided management on EIB products and indicative terms
Acted as a pathfinder for the company within EIB
IFA support
Received referral from EIB lending team to work on risk challenges
Coordinated a technical pre-assessment of the project and reviewed the business plan
Support to achieve favourable outcome to due diligence
EIB grants EUR 40m loan to Indivumed January 2018
EIB grants EUR 15m venture debt to Newlisi
March 2018

6. Access-to-Finance studies across Innovative Sectors
Our studies lead to the creation of new financial products, while proving to be an effective outreach and sourcing tool
IFA‘s access-to-finance market studies
Life Sciences
Policy recommendations
EARTO
KETs I & II
New financial products to address identified thematic funding gaps
Circular Bioeconomy Investment Platform
EIB Advisory team brought the market perspective and formed a bridge between the private ecosystem and the European Commission
Currently being set up (end 2018 target date for launch of tender)
Transport
Circular and Bio-economy
Ongoing
European
Innovation
Council 5G
Space
Renewable
energy
Agri-Food
Access-to-finance for Gender
Digital
Economy

7. Meta-Analysis of Existing Challenges
Excessive fragmentation
Available instruments are provided by different entities and often for specific geographies.
Available instruments too prescriptive
Funds can only be used for a very specific pre-approved purpose and it is difficult to adapt to changing circumstances.
Gaps in ecosystem
The existing instruments do not cover the entire path from research to commercialization and scale-up.
Lack of complementarity
Various existing instruments are difficult to combine and a seamless transition from an instrument to another is rare.
Information asymmetries
Investors lack specific sector / technology knowledge and companies often have limited knowledge of typical considerations of investors.

8. Fit for purpose in support of innovation: role of Advisory under InvestEU
Post-2020 MFF
In support of transition to next MFF
EIC is conceived to bridge market gaps to support breakthrough innovation. EIB Advisory sharing its expertise and market insights in its design.
TA recognized as key
Technical Assistance a critical soft measure in support of innovation.
A powerful advisory combination
A flexible InvestEU facility combined with deep expertise offering targeted support for innovation and strengthened by local partnerships.

9. Don’t hesitate to contact us: innovfinadvisory@eib.org
Contact details
Simon Barnes
Head of Advisory Services
Phone: (+352)
Fax: (+352)
European Investment Bank
100, boulevard Konrad Adenauer
L-2950 Luxembourg
Shiva Dustdar
Head of Innovation Finance Advisory Division
Phone: (+352)
Fax: (+352)
European Investment Bank
100, boulevard Konrad Adenauer
L-2950 Luxembourg
Don’t hesitate to contact us: