Since 4 March 2019, the National Foundation Fund (FNF) has become a reality, with an initial budget of 1 billion Euro, as provided for in the Budget Law 2019, which will be managed by the Deposit Fund and Loans, through a control room that aims to bring together and multiply public and private resources dedicated to the strategic theme of innovation.

The central aim is to serve adequate support to the entire supply chain of innovative companies, in such a way as to highlight technological innovation and give the country the opportunity to grow, compete and generate new opportunities.

It is important to realise that the National Foundation Fund is a multi-fund entity that operates only through venture capital methodologies. Therefore, it is an elective financial instrument for direct or indirect investments with the aim of acquiring qualified minority capital of start-ups, scale-ups and innovative Smes.

The selectivity, flexibility and speed of investments are the elements that allow venture capital to be a key market tool for innovation development. As well as the best way to align the interests of investors and entrepreneurs towards the common goal of economic growth.

The FNF is based on principles such as:

  • Inclusion: The Right to Innovate, which is fundamental, is why we support a technological innovation that is accessible to all, regardless of businesses, citizens, and territories.
  • Growth: requires the ability to mobilise large amounts of capital, as the FNF is an anti-cyclical market instrument that aims to support and develop a more mature innovation ecosystem, including through the attraction of private and international capital.
  • Strategic Control: it means a strategic mission for the country to support all the support necessary for a business logic and the link between research and enterprise.
  • Ecosystem.
  • International leadership.
  • Expected impact.  

The Fund has two lines of activity, dedicated to:

  • Risk capital, that is to investments in capital companies (only for patents for industrial invention).
  • Debt capital soft loans (for patents for industrial invention and registered industrial designs). This line finished its operations in September 2014.