We present a bouncing cosmology which evolves from the contracting to the expanding phase in a smooth way, without developing instabilities or pathologies and remaining in the regime of validity of 4d effective field theory. A nearly scale invariant spectrum of perturbations is generated during the contracting phase by an isocurvature scalar with a negative exponential potential and then converted to adiabatic. The model predicts a slightly blue spectrum, $n_S >sim 1$, no observable gravitational waves and a high (but model dependent) level of non-Gaussianities with local shape. The model represents an explicit and predictive alternative to inflation, although, at present, it is clearly less compelling.

ICTP