Innovation is key for the competitiveness of the European economy, creating jobs and driving economic growth. Nonetheless, when it comes to innovative SMEs with high-growth potential, access to finance can be a bit of a challenge. At the same time, the current state of play in assessment methodologies does not appear to mitigate the risk aversion of investors, who often end up passing up on very promising opportunities.
InnoRate aims to reverse this trend. The project is set to contribute towards developing the EU financial ecosystem and placing Europe at the forefront of the global innovation game. To this end, its underlying concept is straightforward: InnoRate aims to develop a service platform across Europe and Associated Countries that can support investors and lenders for vetting, prioritising and financing innovative SMEs. After piloting this platform with real-case scenarios, the project will elaborate policy recommendations that can help stakeholders adopt the InnoRate’s results.