EU funding opportunities for creative industries

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  1. 1. EU funding opportunities for Creative Industries Gloria Lorenzo Lerones Bronagh Walton
  2. 2. MEDIA Creative Europe Programme objectives General objectives Promote cultural and linguistic diversity and cultural heritage Strengthen the competitiveness of the European cultural and creative sectors (CCS), in particular the audiovisual sector Support CCS capacity to operate transnationally and internationally Promote transnational circulation and reach out to new audiences Strengthen the financial capacity of CCS Foster policy development, innovation, new business models Specific objectives CULTURE / MEDIA Sub-programmes Cross-sectoral Strand and Guarantee Facility (including Capacity Building )
  3. 3. Training Finance Management Investment readiness Networking Access to market Co-production forums CCS SMEs and professionals Capacity building Networking Technical support Banks Guarantee Facility Fund 121 M Multiplier of 5,7 Up to 700M of bank loans Capped guarantee portfolios CCS Guarantee FacilityMEDIA and Culture Capacity Building Risk sharing Dialogue Creative Europe 2014-2020 3
  4. 4. 4 Access to Finance in the CCS (by IDEA) Shortage of reliable data = lack of critical mass. Intangible nature of the assets (mainly IPR)= personal collateral is typically requested Project based planning. Business plan= ca.10% Specific cash flow schemes (subsidies, 3Fs), Economic performance OK European FIswith a few exceptions - do not currently have the in-house necessary expertise for evaluating credit risk in the CCS Financing gap estimated: B 8 to B13 euro
  5. 5. 5 Creative Europe: some objectives: General Objective :Strengthen the competitiveness of the CCS (promoting smart, sustainable and inclusive growth) Specific objectives: Strengthen the financial capacity of the CCS (SMEs and and micro, small and medium-sized organisations ) Operational objectives of CCS GF: (counter)guarantees to banks dealing with CCS SMEs provide expertise/capacity building to the FIs increase the number of FIs working with CCS SMEs; geographical diversification
  6. 6. Horizon 2020 (InnovFin) (2.7bn) Guarantees to RDI-driven/ innovative SMEs & small midcaps between 25k and 7.5m and ambitious RDI projects (Call published) risk capital at the early and start-up phase (call expected 2015) Financing of large innovation projects Loans, guarantees, venture capital/equity or grants for SMEs - EU level instrument (contribution of Member State funds from Operational Programmes to centrally managed EU programs) - Off-the shelf instruments - Tailor-made instruments COSME (1.4bn) Guarantees with a particular focus on financing of SMEs up to 150.000 (Call published) Risk capital predominantly into SMEs at the growth and expansion stage (Call published) Social Change & Innovation (193m) Microfinance to micro-enterprises Investments of up to 500.000 to social enterprises (call expected Q2 2015) European Structural and Investment Funds (ESIF) Central EU instruments Jobs,Growthand SocialCohesion Creative Europe (120m) Guarantees for cultural and creative sector (call expected end 2015) Research, Development, Innovation EU Financial Instruments (2014-2020) 6
  7. 7. How do EU financial instruments work in practice overview 7
  8. 8. In a nutshell: CCS GF Market driven Guarantee/Counter guarantee facility to share credit risk (70%, up to 25% on portfolio) With banks investing in portfolios of loans Loans to organisations operating in the CCS No personal collateral Capacity-building / expertise for banks: non-financial leverage Managed by the European Investment Fund 121 million fund raising credits for up to ca.700M to the benefit of SMEs in CCS Up to 10% for CBS Large scope of CCS Participation: EU/EEA Implementation: 2016-2020 8
  9. 9. 9 Capacity Building Scheme Information and Promotion Approach to the promotion of the CCS GF should be both market oriented (commercial potential from the bank's point of view) and technical in order to engage FIs more efficiently Capacity Building modules and follow up Only delivered to participating FIs, with 3 modules: theoretical, practical and consultancy approach. Case-based consulting: support and advise to FIS on the assessment of their first loan applications and on the management of their portfolio A "comfort period" in which the FI would have access to the Capacity Building Provider for advise and consultations
  10. 10. Thank you