Project description
Supporting research and innovation SMEs in Croatia
SMEs make up 99 % of businesses in the EU and represent a vital component of the European economy. Despite their small size (fewer than 250 employees), SMEs are big contributors to innovation, growth, employment and social cohesion. However, research and innovation SMEs lack sufficient access to external finance and initial funding. In this context, the EU-funded HAMAG-BICRO project organised a conference in Croatia titled “CROATIA: INNOVATIVE ENTERPRISE WEEK 2020”. Organised by the Croatian Agency for Small Business, Innovation and Investment in cooperation with the European Commission, the conference focused on financing and financial tools under Horizon 2020 supporting the development of innovative products and services in innovative SMEs.
Objective
Access to finance for innovative SMEs
Small and medium-sized enterprises (SMEs) are the backbone of the European economy with strong contributions to employment, innovation, growth, and social cohesion. They therefore deserve special attention and true support to enable them to further contribute to a prosperous Europe.
Sufficient access to external finance - with the main goals of filling the gaps in funding for early-stage, high-risk research and innovation by SMEs, as well as stimulating breakthrough innovation - for SMEs is crucial to obtain economic growth, job creation and competitiveness of enterprises. It is one of the central elements in the European economic policy debates. To improve access to finance for SMEs, the EU as well as most EU Member States support SMEs with a wide range of loan, guarantee and/or equity instruments to mitigate market failures in SMEs finance. In addition, in the past years the EU initiated both the Investment Plan – of which SME-financing is an important part – and the Capital Markets Union Action Plan aiming at establishing an integrated capital market in the EU to boost the creation of jobs and economic growth.
Objective of the project is to organize a 2 full day international conference CROATIA: INNOVATIVE ENTERPRISE WEEK 2020 (year 2020), including a restricted VIP-dinner/reception in the evening prior to the conference (year 2020).
Objective of the conference is to raise awareness of the potential for the financial instruments, facilities and accompanying measures launched, in particular, under Horizon 2020 to enhance access to finance for research and innovation. The conference will focus on financing and financial tools for developing innovative products and services in highly innovative Small and medium-sized enterprises. (SMEs)
Horizontal topics: Artificial Intelligence (AI), ICT / Energy sector
Programme(s)
- H2020-EU.2.2. - INDUSTRIAL LEADERSHIP - Access to risk finance Main Programme
- H2020-EU.2.2.2. - The Equity facility providing equity finance for R&I: 'Union equity instruments for research and innovation'
- H2020-EU.2.2.1. - The Debt facility providing debt finance for R&I: 'Union loan and guarantee service for research and innovation'
Funding Scheme
CSA - Coordination and support actionCoordinator
10000 Zagreb
Croatia