Enhancing access to finance for eco-innovative ventures and projects (MedA2F)

Thematic objective: A.1 Business and SMEs development
Priority: Priority A.1.1 Support innovative start-ups and recently established enterprises, with a particular focus on young and women entrepreneurs, and facilitate the protection of their intellectual property rights and commercialisation where applicable
Brief description of the project: For new youth and women led innovative start-up enterprises with a cross-border dimension, access to finance is one of the main barriers to reach to new markets and increase value of their sales. With the aim of enabling access to finance, on the one hand, the SCP/RAC is setting up a network of financing institutions (FIs), incubators and hubs that provide access to finance for eco innovative start-ups and entrepreneurs. As of today, 150+ FIs have been interviewed in 8 Med countries concerning their potential to provide risk capital. On the other hand, the SCP/RAC identifies the exact financing needs of innovative entrepreneurs and. The suggested project aims to scale up these pilot actions and institutionalizing the tested services into a Technical Assistance Facility. The Facility is thought to be a network of financing institutions, local hubs and accelerators having collective interest and objective of providing access to finance for eco innovative ventures and projects.
Main objectives – issues to be addressed: 1. Investment schemes with risk capital dedicated and accessible to the start-ups. 2. Local hubs and accelerators created to train/coach and host talents in the creative sectors.
Expected results: - €5,000,000 risk capital accessed by hubs and start-up accelerators to support the innovative entrepreneurs. - 50 entrepreneurs that successfully launched new ventures/projects in a creative sector.
Partners already involved: SCP/RAC and FEBEA/SEFEA network (Sicily member)
Partners searched: 2 Incubators/Accelerators/Hubs in Tunisia (Tunis and 2 more cities), Lebanon (whole country), Jordan (Al-Aqaba)/2 FIs in each target country/city
Total estimated budget: 2.000.000
First name: Burcu
Last name: Tuncer
Name of the organisation: Regional Activity Center for Sustainable Consumption and Production (SCP/RAC)
Type of organisation: Public body
City: Barcelona
Country: Spain
Email: btuncer@scprac.org
Phone number: +34 93 553 87 82
Skype contact: burcutuncerswitchmed
Website: http://scprac.org