Under the Multiannual Programme for Enterprise and Entrepreneurship, the ETF (European Technology Facility) start-up facility supports innovative businesses and rapidly developing start-ups.

Among the schemes approved under the Communication [32] were: the UK Small and medium enterprise venture capital and loan Fund [33], focusing on the provision of equity and quasi-equity as well as micro-finance loans to SMEs ; the Greek TANEO - New economy development Fund [34], a fund-of-funds intended to provide finance to venture capital funds investing in SMEs active in "new economy" sectors such as telecommunication and biotechnology; the Italian scheme Risk capital for start-up of innovative enterprises [35], aimed at supporti ...[+++]ng innovative enterprises in the start-up phase; and the Austrian Fund for the participation in the equity of SMEs in Burgenland [36] and the Venture capital scheme for the Land of Styria [37].

The High Growth and Innovative SME Facility (GIF) ensures the continuity of the ETF start-up facility within the framework of the Entrepreneurship and Innovation Programme.

pursuant to Regulation (EU) No 1287/2013 of the European Parliament and of the Council of 11 December 2013 establishing a Programme for the Competitiveness of Enterprises and small and medium-sized enterprises (COSME) (2014 — 2020) and repealing Decision No 1639/2006/EC (4) (the ‘COSME Regulation’), the European Commission has established financial instruments (the ‘COSME Financial Instruments’) that aim to facilitate and improve access to finance for SMEs in their start-up, growth and transfer phases, complementary to the Member States' use of financial instruments for SMEs ...[+++]at national and regional level; the indicative contribution of the European Commission to the COSME Financial Instruments in the 2014-2016 period is envisaged to be up to EUR []million;