Improving access by innovative SMEs to alternative forms of finance

Innomine – as a partner leading strategy design and development – is part of the new project, ALTFInator to revolutionize European innovation funding.

Small and medium-sized enterprises (SMEs) represent over 99% of businesses in the EU, and one of the most important issues they face is the difficulty of accessing funds. Alternative financing (AF) for businesses across Europe has increased in recent years, becoming an important source of finance, but access to these sources varies considerably across Europe with Southern, Central and Eastern European regions lagging behind Northern and Western European regions.

The H2020 project, ALTFInator (selected for funding with EUR 1.5 million by the European Commission) was created to solve this problem by facilitating the transfer of best practices from more advanced to less advanced markets, and by designing and implementing a capacity-building strategy to improve the provision and absorption of AF in South, Central and Eastern European countries.

To improve access to AF in target countries, ALTFInator project will:

  • Map and analyze AF ecosystems in South, Central, and Eastern Europe to establish a capacity-building strategy and implementation plan.
  • Provide cross-European online information hub with materials, resources, and tools.
  • Engage AF community to support provision and absorption of financing for innovative SMEs
  • Review project impact and provide the evidence-base for adaption and sustainability of the scheme.
  • Provide stakeholders at European and international level with information about project activities and achievements.

The project is coordinated by Civitta (Estonia) and has 10 other high-level partners:

If you are interested in our ALTFInator project or you have questions, please contact Gabor Vicze: gabor.vicze@innomine.com!