'Energy Sector Innovation-FinaNcial Model'
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EIFN
The Lisbon Council established that Europe's future economic development would depend on its ability to create and grow high value, innovative and research-based sectors capable of competing with the best in the world. In this policy the energy sector is crucial, and environmental sustainability is a priority area. The Lisbon strategy acknowledged the difficulties faced by entrepreneurs in the sector in accessing finance. In response, the EC's energy policy includes some ambitious objectives in relation to energy innovation.
Implementation of the EU's innovation policy, and energy and sustainable development policies will require coordinated effort from all stakeholders. To achieve energy market liberalization, security of supply, to meet the Kyoto objectives demands that actors have good access to financial services. These objectives will be achievable only if the various agents, such as enterprises and scientific institutions focused on innovation, energy agencies, and private and public financial institutions adopt a collaborative strategy.
The overarching goal of the EIFIN project is to:
Design and develop a comprehensive framework for a better understanding between innovative energy enterprises and institutions, and financial agents.
This can be broken down into 5 objectives:
Implementation of the EU's innovation policy, and energy and sustainable development policies will require coordinated effort from all stakeholders. To achieve energy market liberalization, security of supply, to meet the Kyoto objectives demands that actors have good access to financial services. These objectives will be achievable only if the various agents, such as enterprises and scientific institutions focused on innovation, energy agencies, and private and public financial institutions adopt a collaborative strategy.
The overarching goal of the EIFIN project is to:
Design and develop a comprehensive framework for a better understanding between innovative energy enterprises and institutions, and financial agents.
This can be broken down into 5 objectives:
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To establish a comprehensive network to improve innovation financing in the energy sector (Europe Innova Energy Network).
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To identify financial services (solutions) tailored to the characteristics of innovation in the energy sector (mapping the links between innovation needs in the energy sector, and funding sources).
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To design and develop methodologies and tools, to prepare business plans, and to conduct a financial analysis of potential innovation projects.
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To design and implement a facility to improve access to financing for innovation energy enterprises and institutions.
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To implement a practical test for assessment of the above objectives.
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