Social enterprises contribute to the European policy in the area of employment and social inclusion and are particularly relevant for the implementation of the rights and principles expressed in the European Pillar for Social Rights.
The European Commission recognised the potential of social enterprises for innovation and their positive impact on the economy and society at large in its Social Business Initiative and Start-up and Scale-up Initiative. Within this context, lack of or poor access to finance was identified as one of the most significant barriers to the creation and development of social enterprises.
To this end, several financial instruments have been launched within the EaSI programme and the European Fund for Strategic Investments. In addition, EaSI technical assistance – which previously addressed only microcredit providers – has been extended to cover also targeted support to social enterprise finance intermediaries.
A consortium of service providers performs these technical assistance support services, on behalf of the European Commission. The lead partner of the consortium is the European Center for Social Finance at the Munich Business School. Services will be provided in collaboration with a network of around 25 established experts from the field.
Therefore, if you are funding or planning to fund social enterprises, you might be eligible for valuable technical assistance services.
What is in it for you?
Social enterprise finance intermediaries wishing to improve relevant aspects of their operations, performance and governance can apply for technical assistance with a view to boosting their institutional capacity. The aim is to select organisations that are in most need of support from EaSI Technical Assistance, ensuring a balanced geographical representation.
The social enterprise finance intermediaries targeted by the technical assistance services comprise:
- social enterprise finance providers (such as banks, public and private investment funds, fund-of-funds or (co-) investment schemes)
- impact investors keen to address in the future the market segment of the EaSI Guarantee for social enterprises (i.e. investments of up to €500,000)
- social enterprise support organisations (such as incubators, accelerators) that offer accompanying financial support
- social enterprise support organisations (such as incubators, accelerators) that are in the process of widening their scope with a view to providing accompanying financial support to social enterprises.
These technical assistance services focus on capacity building and cover analysis, training in designing suitable financial instruments, applying suitable tools and ensuring quality, mutual learning and exchange of good practice, networking and partnering, monitoring and evaluation.
What services are on offer?
More detailed information is available HERE.
This publication has been prepared within INDIGISE project. The content of this publication is the sole responsibility of the project coordinator and may not always reflect the views of the European Commission or the National Agency.