Community Research and Development Information Service - CORDIS

Extension of the seed-capital fund pilot action to the new German Laender

The Commission of the European Communities calls for expressions of interest in the creation and development of seed-capital funds that would acquire equity holding in new or embryonic SMEs whose project can promote development and innovation. 24 such seed-capital funds were foreseen in the original action (published OJ No C 306 of 1.12.1988). The present notice of tender applies to the creation of one new fund (which will require a minimum capital of ECU 500,000) for the new German Laender. On the basis of the tender specifications, the promoting agency will submit, in its own name or on behalf of a group of promoters, an application for assistance.

Two separate sources of Community financing may be made available:
- (i) Repayable in advance from DG XXIII (Enterprise Policy) to meet part of the operating costs of the seed-capital fund;
- (ii) A capital contribution from DG XVI (Regional Policy) to the European Communities Business and Innovation Centre, established in the area willing to invest in the seed-capital fund being assisted under (i) above.

Related information

Countries

  • Greece
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