1 Jeremie & Jessica Thomas Fröbel Serus Ek För ‘Joint European REsources for MIcro to medium Enterprises’ - Joint European Support for Sustainable Investment in City Areas

2 Objectives of Jeremie  Improve Access to Finance to SMEs in Regional Development areas (regions)  Design of tailor-made, market driven, sustainable and revolving instruments  Mobilizing joint resources (leverage effect 2-10) ERDF + IFIs (ERDB,CEB)+ special. FIs (KFW, Caisse de dépôt)+ EIF/EIB

3 Phase 1: Evaluation and Programming ( ) Evaluations will be realised by the EIF in collaboration with stakeholders in the regions Evaluations are available freely to: Regions-programme authorities Regions-programme authorities Interested holding funds and Interested holding funds and financial intermediaries financial intermediaries Associations of SMEs and Associations of SMEs and Chambers of commerce Chambers of commerce market gap analysis of potential demand and supply of financial products for SMEs in the regions Diagnosis / definition of priorities and operations in the regions Identification and recommendation of appropriate market driven instruments Operational programmes use results of evaluations

Brev från REGERINGSKANSLIET Näringsdepartementet till Europeiska kommissionen GD Regionalpolitik Genom detta brev viII jag tacka for det erbjudande om studier av kapitalförsörjningssituationen för sma och medelstora företag som ryms inom initiativet JEREMIE. Jag viII samtidigt meddela att vi önskar dra nytta av denna möjIighet. För att göra det möjligt att dra slutsatser Fran analysen för samtliga delar av landet anger vi att NUTS 2-omradet Mellersta Norrland och NUTS 3- området Västra Götalands Iän är lämpliga att studera. I sammanhanget viII vi betona vikten av att analysen tar hänsyn till och behandlar de skillnader i villkor och förutsättningar som Finns inom dessa områden. Var avsikt är att de resultat som redovisas i analyserna skall tjäna som underlag i det kommande arbetet med att ta fram operativa program för regionalfonden. Vi betraktar dock inte analysens resultat som bindande for de prioriteringar av insatser som kommer att göras inom ramen för programmen.

5 Phase 2: Implementation ( ) Tender (offentlig upphandling) Selection of Holding Fund & OP transfers funds to Holding fund Call for interest (Intresseförfrågning) Selection & accreditation of Financial intermediaries (mellanhandsorganisationer) MA + assist EC EIF + IFIs PA+ assist Fund holder MA + Fundholder

6 Types of Financial intermediaries  Venture capital funds, including:  Start ups and Seed capital funds  Business angels  Technology and innovation funds  Guarantee funds  Loan and mezzanine funds  Micro credit providers  Fin. intermediaries (mellanhandsorganisationer) offering any combination of the above financial products and services

7 Type of support to SME Evaluation of proposals by SMEs and provide them with: Equity and Venture capital Mezzanine financing Guarantees Loans Advice and assistance for JEREMIE products for SMEs and micro credit beneficiaries (ensured by OP, Holding Fund and Financial Intermediaries) Micro Credit OperationsMaximum publicity Financial intermediaries Banks are reluctant to consider such "social economy" operationsBanks are reluctant to consider such "social economy" operations Specialized Micro Credit Providers can fill the gapSpecialized Micro Credit Providers can fill the gap Credit up to EURCredit up to EUR First time entrepreneursFirst time entrepreneurs Young or old entrepreneursYoung or old entrepreneurs WomenWomen Minorities, unemployed, etcMinorities, unemployed, etc

8 Types of Financial instruments Venture capital and equity: equity investments in venture capital funds and business incubators that support SMEs Provision of equity to financial institutions (microfinance providers) to enhance their lending capacity Technology transfer: equity investments in venture capital funds and business incubators that support SMEs SME guarantees: guarantees (or counter) to financial institutions that give loans (or guarantees) to SMEs. Applies to microfinance. Technical assistance: Provision of expertise to regional, national organisations in the fields of VC, portfolio guarantees and, micro-finance (audit, structure, making them eligible for lending)

9 FUNDING Equity Venture capital Guarantees TECHNICAL ASSISTANCE SMEs  Microfinance Providers (MCPs)  Tech Transfer Activities  Financial Institutions  Guarantee schemes  Venture Capital Funds ERDF GRANTS MANAGEMENT NAT. ACCOUNTS Programming phase: preparation of operational programmes EVALUATION GAP ANALYSIS Attract EIB + IFIs lending JEREMIE: the cycle

10 Jessica objectives Jessica is an optional facility offering MS and MA the possibility to allocate funds from OPs to Urban Development Funds or Holding Funds Urban Development Funds or Holding Funds will invest in PPPs or projects included in an integrated plan for sustainable urban development Some limited provisions need to appear within the general and the draft regulations before the implementation of the of Jessica program

11 Jessica works through funds or holding funds Operational Programme EIB and CEB, other IFIs Urban Development Fund or Holding Fund receive contributions from OP, Urban Authority, IFIs, Banks, Investors Investments in PPPs or projects for sustainable urban development, including social housing Holding Funds invest in several Urban Development Funds Joint European Support for sustainable Investment in City Areas (JESSICA)

12 Kontakt: SERUS Ek.För Thomas Fröbel Tel. 073/ Web: