A recent workshop organised by the ITRE Committee investigated the planned 'financial instruments' for the Programme for the Competitiveness of Enterprises and SMEs (COSME) and Horizon 2020. It was said that the two new programmes are mainly designed to support industry and small and medium-sized enterprises (SMEs) in the EU in research and innovation activities.

COSME proposes an equity instrument and the debt instrument Loan Guarantee Facility. Horizon 2020 also foresees an equity instrument within the Industrial Leadership pillar which will provide equity at an early stage and venture capital for research and innovation activities. The main difference between these two presented financial instruments is that COSME will focus on SME's only, whereas Horizon 2020 will also provide debt finance to research organisations and larger companies. The implementation of the instruments will be delegated to financial institutions by the EC.

Please find the entire presentation here: http://www.europarl.europa.eu/document/activities/cont/201204/20120413ATT42917/20120413ATT42917EN.pdf