Slovene Technology Innovation Fund 2024-2029
The proposal for the formation of the Slovenian Technology Innovation Fund (TIS) is part of the Action Plan for Increasing the Competitiveness of the Slovenian Economy (the second pillar, which is dedicated to the startup and scaleup ecosystem), prepared by the Ministry of Economy, Tourism, and Sport. Currently, the Action Plan is still in preparation, so the proposal for TIS is not yet definitively defined.
The main challenge for innovative startups is surviving the first “valley of death,” where it is crucial to ensure a source of funding for systematic and stable growth support. Slovenia ranks at the bottom of European countries in terms of company financing through venture capital funds. The proposal for the Slovenian Technology Innovation Fund program is a way to provide funding for technologically and financially more demanding so-called “deep tech” projects of companies.
The establishment of the Fund is based on the following principles:
- it is necessary to provide a permanent fund that will continuously provide financing of new projects.
- the fund will be organized as “fund of funds” with investments in specialized funds.
- funding is needed for all phases of development – from pre-seed to mature stages.
- financial and advisory monitoring of the company from start-up to mature phase.
- initial public investment: 5 x eur 25 million.
- additional private investments of at least 30%.
- reinvestment of sales inflows in new projects.
Program title
Slovene Technology Innovation Fund
Namen programa
- promoting the development of innovations according to the scale of technological maturity (TRL) from 3 to 6/7
- financing of major projects that are carried out on the territory of the Republic of Slovenia or for companies domiciled in Slovenia.
- the fund can also finance innovations created outside of Slovenia, provided that their realization and long-term business development will take place in Slovenia.
Founder
- founder of the fund is Slovene Enterprise Fund (SEF)
- SEF provides funds for fund operations.
Program size
- fund of funds size EUR 125 m
- SEF invests the capital of the fund in the name of Republic of Slovenia in five annual instalments (5 x EUR 25 m)
Fund of funds management
- SEF defines management policy and chooses the fund managers.
- SEF is responsible for oversight over management companies.
Fund operations
Fund of funds invests in venture capital funds established by private management companies.
Financial intermediaries
Specialized venture capital funds managed by private fund managers.
Estimated share of private
investments in each specialized fund
At least 30 % financing of private investors/specialized funds
Form of financing
Equity in quasi-equity financing through specialized funds
Funding amount per final recipient
from EUR 1 m to EUR 5 m per individual company
Fund investment policy
Support of innovative companies from the start-up to the mature stage, by investing in selected specialized venture funds that
finance all stages of development – from pre-seed to the growth stage, with investment focus on larger projects.
Public Fund of the Republic of Slovenia for Entrepreneurship
Short name: Slovene Enterprise Fund
Ulica kneza Koclja 22, 2000 Maribor
Tel.: 02/234 12 60
Fax.: 02/234 12 82
