Functional encryption is a new paradigm in public-key encryption that allows users to finely control the amount of information that is revealed by a ciphertext to a given receiver. Recent papers have focused their attention on constructing schemes for general functionalities at expense of efficiency. Our goal, in this paper, is to construct functional encryption schemes for less general functionalities which are still expressive enough for practical scenarios. We propose a functional encryption scheme for the inner-product functionality, meaning that decrypting an encrypted vector x with a key for a vector y will reveal only ⟨x,y⟩ and noth- ing else, whose security is based on the DDH assumption. Despite the simplicity of this functionality, it is still useful in many contexts like descriptive statistics. In addition, we generalize our approach and present a generic scheme that can be instantiated, in addition, under the LWE assumption and offers various trade-offs in terms of expressiveness and efficiency.