EN
Small and medium-sized companies which want to be competitive they need to invest in innovation. Implementation of innovative ideas is not easy, as companies face a number of problems which impede or suspend its implementation. Most limiting factor in this issue is the problems of raising capital, which is particularly difficult to obtain for new and innovative companies. The solution to these difficulties is proposed by the European Union: Competitiveness and Innovation Framework Programme (CIP). The purpose of this article is therefore to analyze and evaluate the effectiveness of one of the tools of innovation policy of the European Union: Competitiveness and Innovation Framework Programme (CIP).