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"Jornada Presentación
Programas Europeos PYMEs"
16 April 2015
Direccion-General para el Mercado Interior, Industria,
Emprendimiento y PYMEs
Unit F.3
SMEinitiative
Visión de conjunto: 2014-2020
H2020InnovFin
ESIFStructural & Invest.
Funds
EaSI
Creative Europe
Erasmus+
COSME
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Env/energy
Horizon 2020 (InnovFin) (€2.7bn)Guarantees to RDI-driven/ innovative SMEs & small midcaps between
€25k and €7.5m and ambitious RDI projects (Call published)
risk capital at the early and start-up phase (call expected 2015)
Financing of large innovation projects
Loans, guarantees, venture
capital/equity or grants for
SMEs
- EU level instrument(contribution of Member State funds
from Operational Programmes to
centrally managed EU programs)
- Off-the shelf instruments
- Tailor-made instruments
COSME (€1.4bn)
Guarantees with a particular focus on financing of SMEs up to €150.000 (Call published)Risk capital predominantly into SMEs at the growth and expansion stage (Call published)
Social Change
& Innovation (€193m)Microfinance to micro-enterprisesInvestments of up to €500.000 to social enterprises (call expected Q2 2015)
European Structural and
Investment Funds (ESIF)
Central EU instruments
Jo
bs,
Gro
wth
an
d
So
cia
l C
oh
es
ion
Creative Europe (€120m)Guarantees for cultural and
creative sector (call expected end
2015/ 2016)
Re
se
arc
h,
Develo
pm
en
t,
Inn
ova
tio
n
EU Financial Instruments (2014-2020)
En
erg
y,
Cli
ma
te
Private Finance for Energy Efficiency (€80m) Financing for energy efficiency enhancing projects (Call published)
Natural Capital Financing Facility (€100m) Financing of projects which promote the preservation of natural capital,
including adaptation to climate change (call expected)
Results achieved: CIP (2007-13+)
Debt financing (as of 31/12/14)
Approx. 368,000 SMEs
€ 19.3 bn of financing
Equity financing (as of 30/9/14)
Over 400 beneficiaries
€ 3 bn of financing
90% of beneficiaries: micro
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Support those SMEs which would otherwise not obtain financing (concept of additionality)
Debt: focus on higher risk SMEs
Equity: focus investments into risk capital funds which target SMEs in their growth and expansion phase
Overall target: Provide support to up to 330,000 SMEs; provide up to € 25 billion in financing
Policy objective of the COSME financial instruments
Loan guarantees - details
• SMEs in EU28 or participating counties
• through debt financial intermediaries (banks, guarantee societies etc.)Beneficiaries
• capped, portfolio, free of charge, first loss guarantee
• (guarantee rate: ≤50%, cap rate: ≤20%), securitisation optionGuarantees
• transactions with a higher risk profile
• e.g. start-ups, less collateral, longer maturityAdditionality
• transaction (loan): min 12 months
• guarantee: max 10 yearsDuration
• ≤ € 150.000: every SME
• > € 150.000: SME not qualifying for InnovFin (H2020)Amount
• wide range: working capital, investment loans,
• subordinated loans, bank guarantees, leasingProducts
• guarantee payment upon default
• pro-rata sharing of recoveriesTerms9
Equity facility - details
• growth SMEs (UE 28+)
• through VC funds (+ funds of funds)Beneficiaries
• minimum eligibility criteria:
• e.g. investment focus, management team, reportingEligibility
• funds must contribute to the creation of a pan-European VC marketAdditionality
• long-term investments (5 to 15 year positions)Duration
• 7,5% - 25% of total VC fund capital,
• max € 30 mlnAmount
• possibility of joint investments with InnovFin (Horizon 2020) -
• - pro-rata funding for multi-stage fundsType of funds
• possibility of co-investments with business angels
• - as long as minimum eligibility criteria are metBusiness angels10
COSME call for expression of interest
Financial institutions invited to apply by 30 Sept 2020
• Debt facility (to provide guarantees and counter-guarantees to cover loans for SMEs with a particular focuson financing of SMEs up to €150.000)• http://www.eif.org/what_we_do/guarantees/single_eu_debt_instrume
nt/cosme-loan-facility-growth/index.htm
• Equity facility (to invest in SMEs predominately at thegrowth & expansion stage)• http://www.eif.org/what_we_do/equity/single_eu_equity_instrument/c
osme_efg/index.htm
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Access to finance portal
Single portal to all EU financial instruments
• Coverage: CIP, COSME, EIB, EIF, InnovFin, Progress Microfinance, RSFF, RSI, Structural Funds, WB EDIF
• All EU languages, 38 countries with over 1200 intermediaries
• Access to more than 100 bn euros of financing
www.access2finance.eu
EU Access to Finance Days
• Discussing the design of future instruments for the programming period 2014-20 between the key SME finance stakeholders & financial intermediariesunder the current EU programmes
• Organised in all Member States for organisations representing SMEs, financial institutions and potential intermediaries of EU programmes, policy makers representing national and/or regional authorities, chambers of commerce and business associations
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• One-stop-shop for SMEs: Enterprise Europe Network
• 600 organisations in 53 countries
• EU funding and legislation for doing business in the EU
• Cross-border business cooperation, R&D and technology transfer
• Doing business on international markets beyond the EU
• + Feedback to the Commission
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Advice and support for SMEs