On Friday, a new Innovate Poland program was announced, which aims to increase financing for Polish innovative enterprises. Under the program, the Polish Development Fund, Bank Gospodarstwa Krajowego, PZU and the European Investment Fund belonging to the EIB will allocate PLN 4 billion for the development of Polish companies. According to Andrzej Domański, Minister of Finance and Economy, this, together with private funds, may amount to as much as PLN 8-10 billion for investments in start-ups.
— This is a really good day for the innovation of the Polish economy. The EIB Group is joining Innovate Poland – a program that is intended to stimulate the development of the most innovative companies and technologies in Poland, which will serve the competitiveness of our country and the whole of Europe – says Vice-President of the EIB Group Teresa Czerwińska.
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She reminded that The European Investment Fund belonging to the EIB Group will provide PLN 500 million for this purpose and will manage a new fund called Future Tech Poland. It will reach a value of PLN 1.5 billion (out of PLN 4 billion of the total value of Innovate Poland) thanks to cooperation with Bank Gospodarstwa Krajowego and will focus on financing on the over-the-counter market for enterprises in the initial phase of development..
On Friday, the EIB also signed a financing agreement worth EUR 25 million with the Polish company Synerise, which offers solutions in the field of artificial intelligence and automation for business. The company will allocate funds for the implementation of the development program, which amounts to EUR 54 million and assumes the introduction of a new generation of behavioral analysis technology performed using artificial intelligence.
— The program announced today by Minister Domański will start soon. And today, the EIB has signed a financing agreement with a leading Polish AI company. Funds worth EUR 25 million will support the development program of Synerise – a domestic innovation leader with success on the global stage. This specific example shows how effectively the EIB Group can stimulate the development of the innovation ecosystem in Poland. This is a key part of our mission,” Czerwińska added.
As part of Innovate Poland, PFR, BGK and PZU will invest PLN 2.4 billion in a fund managed by PFR Ventures, which will invest in private equity, private debt and venture capital funds, which in turn will invest in Polish innovative start-ups. Rozalia Urbanek, a member of the management board of PFR Ventures, said that PLN 4 billion will finance the development of 250 innovative companies.
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The European Investment Bank (EIB) is an institution of the European Union established to finance investments contributing to the achievement of community policy objectives. The bank's shareholders are member states, and its task is to grant long-term loans, among others. for the implementation of investments in the field of climate and environment.
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its main mission is to support European micro, small and medium-sized enterprises (SMEs) by helping them access finance.
