Research and Innovation Funds in Italy – ERDF loan and equity financial instruments

The Fund of Funds was set up by Italian Ministry of Universities and Research with EUR 270 million of European Regional Development Fund (ERDF) programme resources (including national co-financing). Three financial intermediaries were selected to establish Research and Innovation Funds (RIFs), loan, equity and quasi-equity financial instruments to support innovative enterprises in the south of Italy.

The Investment Strategy of the FoF, which was adopted by the RIFs, was aligned with the Italian National Research Plan 2015-2020 (NRP), to identify twelve priority sectors which would be targeted by the financial instruments. Potential candidates for investment were also assessed against the Technology Readiness Level criteria described in the Horizon 2020 programme to establish their eligibility for investment.