With small and medium-sized enterprises (SMEs) as its main target, the Competitiveness and Innovation Framework Programme (CIP) supports innovation activities (including eco-innovation), provides better access to finance and delivers business support services in the regions.
Competitiveness and Innovation Programme encourages a better take-up and use of information and communication technologies (ICT) and helps to develop the information society.It also promotes the increased use of renewable energies and energy efficiency.The CIP runs from 2007 to 2013 with an overall budget of € 3621 million.
The CIP is divided into three operational programmes. Each programme has its specific objectives, aimed at contributing to the competitiveness of enterprises and their innovative capacity in their own areas, such as ICT or sustainable energy:
Programme for the Competitiveness of enterprises and SMEs (COSME) 2014-2020
The new Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) will run from 2014 to 2020, with a planned budget of €2.5bn
Impact on competitiveness of businesses large and small
COSME is expected to contribute to an annual increase of €1.1bn in the EU's GDP.The Enterprise Europe Network is expected to assist 40,000 companies with partnership agreements, resulting in:
Access to finance will be easier for entrepreneurs, in particular those willing to launch cross-border activities, resulting in an expected annual increase of €3.5bn in additional lending and/or investment for EU companies.
What happens now?
The Commission's proposal will be discussed by the European Parliament and the Council, which must agree to adopt it. COSME should start on 1 January 2014.