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NET-FIN-TEX

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'NETworking FINancial investors, business experts and support organisations to foster enhanced innovation activity among Europe's TEXtile and clothing companies'

The highly fragmented structure of the textile and clothing industry, and the predominance of small companies, means that there are various barriers to innovation activities including continuity, strategic direction, human and knowledge resources and, above all, funds. Current industry transformation processes in part due to competition from low labour cost countries in the more traditional business segments (commodity textile products and clothing) coupled with highly specialized and often volatile markets, make investors reluctant to put money into SMEs. Mainly they lack understanding of textile business models and profit drivers. In addition, lack of adequate access to debt financing is exacerbated by completely underdeveloped private equity and venture capital activities in the textile-clothing sector.

NET-FIN-TEX seeks to "map" expertise in innovation financing across Europe and detail the financial instruments and schemes related to all stages and players along the complex textile value chain.

The overarching goal of the NET-FIN-TEX project is to:
Establish a permanent European Textile and Clothing innovation financing expert network whose activities and findings will be closely related to the horizontal task groups of the European Textile and Clothing Technology Platform, in particular those dealing with Innovation Management and easier access to capital.

This goal involves 6 objectives:
  • To establish a pan-European innovation financing network in the Textile and Clothing Sector.
  • To analyse the current situation, and the success factors and barriers to innovation financing in this industry.
  • To identify and systematically review public and private funding instruments, sources and map related application fields in the innovation space.
  • To develop comprehensive guidelines for textile firms relating to best practice in innovation financing and location of appropriate funding options.
  • To disseminate information to interested parties through an on-line knowledge repository and to provide guidance for companies through a one-stop-shop information service.
  • To prepare policy recommendations for the improvement of the innovation financing framework conditions for textile and clothing companies in Europe.