The Guarantee Fund implemented as part of the non-competitive project will offer guarantees to financial institutions (crediting banks) providing capital to entrepreneurs for their innovative activities, including the implementation of the results of R & D. Guarantees are a repayable instrument with the highest leverage ratio understood as the relationship of generated funding to the public funds involved. Taking over by the Guarantee Fund a significant part of the risk borne by financial institutions will create an incentive to engage private capital in financing innovative projects. The operation will also provide support in the form of interest rate subsidies on loans, in accordance with Article 37(7) of Regulation 1303/2013.