WHAT IS THE R&I FUND?
The Research & Innovation Fund is a financial instrument that is part of the national operational program “PON Research and Innovation 2014-2020”. The Ministry of Education, University and Research (“MIUR”) as Managing Authority, has allocated part of the PON R&I budget to the creation of a Fund of Funds (FoF) dedicated to R&I, whose management is been assigned to the European Investment Bank EIB. The EIB then selected the financial intermediaries for the management of the resources that select, evaluate the projects, finance the same, report and monitor the expenses of the resources allocated.
WHAT IS THE PURPOSE OF THE FUND?
The Fund aims to support the objectives set by the PON Research & Innovation 2014/2020. In particular, it is intended for the competitive repositioning of the Southern regions, in order to produce changes that increase the ability to generate and use quality R&I and trigger intelligent and sustainable development.
HOW DOES THE FUND WORK?
The intervention of the Fund will take the form of a medium / long-term loan and, in certain circumstances, also in equity (shareholdings) or quasi-equity (shareholder loan, mezzanine financing). The potential beneficiaries are Large Enterprises, Intermediate Companies – Mid-caps, SMEs, Public and Private Research Centers, Universities and other public bodies involved in research and development.
FINANCIAL PROJECTS MUST:
- be in line with the directives of the PON R&I;
- return to one or more of the 12 thematic areas: Aerospace, Agrifood, Blue Growth – economy of the sea, Green Chemistry, Design creativity and Made in Italy, Energy, Intelligent Factory, Sustainable Mobility, Health, Smart Communities, Technologies for the environments of life, Technologies for cultural heritage;
- favor the use of knowledge-intensive technologies (so-called KETs);
- return to a level of technological maturity (TRL – Technology Readiness Level) between 2 and 4 (industrial research), or between 5 and 8 (experimental development);
- be referred to project proposals that have not yet been completed (in particular, the financial instrument must not refinance acquisitions, nor participations in projects already completed);
- be realized in the less developed regions (Basilicata, Calabria, Campania, Puglia, Sicily), or in transition (Abruzzo, Molise and Sardinia), in compliance with the financial proportions envisaged by the program.