FINANCIAL INCENTIVES 2015-2020 For young enterprises (younger than 5 years) For SME 5+ (older than 5 years)
WHO WE ARE? SLOVENE ENTERPRISE FUND (SEF) IS A PUBLIC FINANCIAL FUND IN 100% OWNERSHIP OF REPUBLIC OF SLOVENIA AND IS THE SIMULATOR OF THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES (SME’S) WITH FAVORABLE FINANCIAL INCENTIVES.
WHAT WE OFFER? We offer financial incentives in the form of: Guarantees as collateral for bank loans with interest rate subsidy Direct credits for special purposes
WHO WE FUND?
Equity financing (venture capital, seed capital, mezzanine capital)
SEF will in the period 2015-2020 carry out two substantive programs of financial incentives for micro, small and medium-sized enterprises, intended for two target groups:
Special incentives for special target groups ... which are intended to finance various business and development activities such as:
PROGRAM YOUNG ENTERPRISES - enterprises younger than 5 years - enterprises have at their disposal products from first till fourth development phase
- start up of an enterprise - own development and innovation - rapid global growth - women entrepreneurship - socially useful products and services - creative industries - business model re-engineering
PROGRAM SME5+
SEF’s COMPREHENSIVE FINANCIAL IMAGE OF PRODUCTS ADAPTED TO DEVELOPMENT PHASES OF THE ENTERPRISE
- enterprises older than 5 years - enterprises have at their disposal products in the fourth development phase
SEF TWIN
INCENTIVES for innovative start-ups (P2) to 54.000 EUR
INCENTIVES for start-ups in problem regions (P2R) to 20.000 EUR
SPECIAL INCENTIVES
1
PHASE to MVP
SEF TWIN
SEED CAPITAL
VENTURE CAPITAL (TK)
- convertible loan, (SK75)
- capital investments, - mezzanine capital
- equity investment (SK200)
to 1,5 mio EUR
- GUARANTEES for technological innovation project (P1 TIP)
MICROCREDITS (P7) to 25.000 EUR
- GUARANTEES for Classical project (P1) to 1,25 mio EUR credit+ interest rate subsidy
from 75.000 EUR to 200.000 EUR
EQUITY FINANCING
2
PHASE from MVP to market
EQUITY FINANCING
3
PHASE global growth
Young enterprises (enterprises younger than 5 years) SPS TWIN »combination of financial and substantive support«
CREDITS
GUARANTEES
4
PHASE further growth
SME 5+
MVP – minimum value product
3
SPECIAL INCENTIVES Incentives for innovative start ups...
Slovene Enterprise Fund offers special incentives to young enterprises that are at the beginning of their business way, have a positive economic importance and are in accordance with gap analysis assessed as extremely vulnerable on the market and therefore their market existence is at risk. Special incentives are intended to generate young enterprises and are divided into:
The purpose of phase 1: /to MVP/ - Establishment - Preparation of MVP based on own development - Creation of an entrepreneurial team
Incentives for innovative start-ups Incentives for start-ups in problem regions
1. INCENTIVES FOR INNOVATIVE START UPS Product description: Incentives for innovative start ups are granted to newly established innovative enterprises, which are at the beginning of their business way, have a positive economic importance (new innovative enterprises, the employment of young unemployed people, social entrepreneurship,....) and have a potential for rapid growth. Product is implemented in combination of refundable funds (credit) and grants. The purpose of the product:
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START UP INCENTIVES
2015-2020
PHASE 1 /to MVP/
The purpose of the product is the development of supported enterprises and successful transfer of development business ideas of individuals and groups into successful commercial undertakings and creation of new innovation oriented enterprises with growth potential, with focus on the development and commercialization of products, processes and services. Product is implemented on the principle of »SEF TWIN«, which means that the
recipients of funds are in addition to the financial incentives also entitled to the substantive incentives (coaching program) that are adjusted to the needs of enterprises.
2. INCENTIVES FOR START-UPS IN PROBLEM REGIONS Product description: Incentives for start – ups in problem regions are granted to start ups in problem regions with high unemployment rate. Product is implemented in the form of grants. The purpose of the product: The purpose of the product is to promote start – ups in the problem regions with high unemployment rate. Operation and realization of the development potential is improved with the financial support with the purpose of increasing the survival rate in the initial period of operation and improving own competitiveness on domestic and foreign markets.
Incentives for startups in problem regions to 20.000 EUR (P2R)
SEF
Grants+credit Incentives for innovative start-ups to 54.000 EUR (P2)
SME
Young enterprises /enterprises younger than 5 years
HOW DOES THIS FINANCIAL INSTRUMENT WORK? Young enterprises that meet the conditions indicated in the public tender apply to the public tender for start up of an enterprise in the entities of innovative environment with the application that has to contain attachments listed in the public tender. In the case of positive evaluation of the application the enterprise is granted a combination of refundable funds (credit) and the grant which is received as a reimbursement for the development and start up eligible costs during eligibility period of three years.
BEST PRACTICE
HomeOgarden d.o.o.
Homeogarden d.o.o. is a young start up which deals with development and production of environmental friendly solutions for home and garden. In the last two years they have developed innovative unique program of 37 products for home and garden. Their products are present in all major department stores in Slovenia (Bauhaus, Merkur, Semenarna Ljubljana, Spar, Mercator, Tuš, Baumax,...) and in more than 90% of small retail stores (Agricultural cooperatives and garden centers). Their products are exported to Austria and Croatia, where in 2015 a major breakthrough is planned. By the extremely fast development of the enterprise and the conquer of the Slovenian market in the last two years the Slovenian Start up ecosystem was a major help (Technology park Ljubljana, conference Coinvest, institute Hekovnik) and of course SEF’s financial incentives.
Best practice: HomeOGarden d.o.o.
P2A: 20.000 EUR grant P1: Guarantee for bank loan with interest rate subsidy in the amount of 20.000 EUR
»Acquired funds were mainly used for development of new products and extremely rapid expansion on the Slovenian market.«
New jobs
Revenues in EUR
3.701
1 +400% increase to 5 employees
+ 93 times increase to 348.000 EUR
4
344.299
Initial state: 2012 Jobs created by: 2015
Macroeconomic indicators show that the enterprise has, in the monitoring period after the investment, created five new jobs, increased revenues 93 times from the initial state of revenues in the amount of 3.701 EUR to the final state of 348.000 EUR. The enterprise plans 780.000 EUR of revenues in 2015 and SEF still monitors the macroeconomic indicators of the enterprise.
Initial state: 2012 Created increase by: 2015
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EQUITY FINANCING Seed capital In the context of equity financing SEF offers in the second development phase young enterprises SEED CAPITAL, which is implemented in a manner that the holding fund (SEF) alone and/or together with private investors directly invests in the form of:
The purpose of phase 2: /from MVP to market/
- Continued financing of development activities - Completion of the prototype - First market analysis - Making contacts with potential buyers
Convertible loan or Direct capital investment.
The purpose of the product is to stimulate:
1. SEED CAPITAL Product description: Seed capital is intended for financing of young enterprises in the form of equity financing and is implemented in two forms in the second development phase as: - convertible loan - capital investment Product is designed for young enterprises with growth potential and consequently the potential of creating new jobs (focus are young technological enterprises), which are in this development phase especially vulnerable and are for successful start of business, in urgent need of adequate financial resources and technical assistance by the implementation of their business processes.
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the establishment of new enterprises and faster implementation of new technological achievements, inventions and patents into the economic exploitation (integration of scientific institutes, young researches, universities, inventors of the rural practice), the development of the initial concept of the business model of SME and the start up of the enterprise in the form of quasi-equity and/or mezzanine financing, networking of stakeholders, that form a successful ecosystem for the creation of successful enterprises (integration of existing infrastructure in the form of corporate and university incubators, technology parks, with successful entrepreneurs in terms of mentoring for emerging enterprises, business angels, etc,....).
SEED CAPITAL
EQUITY FINANCING
2015-2020
PHASE 2 /from MVP to market/
Product is implemented on the principle of »SEF TWIN«, which means that the recipients of funds are, in addition to the financial incentives, also entitled to the substantive incentives (coaching program).
the creation of new SME’s in a manner that the holding fund (SEF) alone and/or together with private investors directly invests in the form of a convertible loan or in the form of direct capital investment in the initial development phase of the SME,
Convertible loan
- Convertible loan (SK75) - Direct capital investment (SK200) From 75.000 EUR to 200.000 EUR
SEF
Direct capital investment
SME
Young enterprises /enterprises younger than 5 years
HOW DOES THIS FINANCIAL INSTRUMENT WORK? For obtaining SEED CAPITAL enterprise has to apply to the public tender up to the final date of submitting an application published on the website of the Fund: www.podjetniskisklad.si or in the official Gazette of Republic of Slovenia. The enterprise can participate in the process of pre-selection, but it is optional. In the case of positive evaluation of the application, harmonization of conditions of SEF’s equity entry in the enterprise and a positive decision on the application, the Fund and the enterprise sign an agreement on SEF’s equity entry in the company.
BEST PRACTICE
SmartPa d.o.o.
An enterprise, named SmartPa, the recipient of the investment SK50, a member of the accelerator Start: Up Geek House and one of the most promising Slovenian start up enterprises, has acquired the enterprise Bisnode Slovenia as a strategic distribution partner. This way it will with its innovative web search engine of business contacts, named “Datafy.it”, which replaces the costly and time-consuming search of potential new customers as well as their contact information, yet enhance the visibility of the domestic market and penetrate the markets of the former Yugoslavia. SmartPa is also in discussions with two large potential sales partners from Switzerland and Poland, and starts with the development of its new product in the field of “Customer Data Enrichment”. Datafy.it is an innovative web search engine of all business contacts that are available online, including e-mail addresses and telephone numbers of persons they are looking for. It is a “big data” application, which replaces or automates the time-consuming manual browsing and searching of business contacts through search engines such as LinkedIn, Google, Yahoo, Xing and others. This allows users to find a few tens or hundreds of high-quality business contacts, classified according to the industry, the position of the person in the company and country, with a single query within an hour.
Start: Up Geek House. As one of the most active members of the first generation of the accelerator, resulting from the high-tech company named XLAB, involves in its innovative product complex algorithms or web spiders and modern technologies in the field of “machine learning” and artificial intelligence. Among their end-users are smaller enterprises, that do not usually have a strong marketing or sales departments, and allows them fast and cheap looking of their potential customers, that are not available in public databases, in more than 100 countries worldwide.
Datafy.it is the result of the development of a young start up enterprise named SmartPa from the Technology Park Ljubljana, the recipient of the investment SK50 and a member of the accelerator
»Financial resources, acquired from Slovene Enterprise Fund were spent on marketing research, as well as on the salaries of developers.«
New jobs
0 +2 times increase to 2 employees
2 Initial state: 2012 Jobs created by: 2015
Revenues in EUR
4,000 + 6 times increase to 28.874 EUR
24,874 Initial state: 2012 Created state by: 2015
Macroeconomic indicators show that the enterprise has, in the monitoring period after the investment, created two new jobs, increased revenues 6 times namely from the initial state revenues of 4.000 EUR to the final state of 28.874 EUR.
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EQUITY FINANCING Venture capital, mezzanine capital In the context of equity financing SEF offers in the third development phase young enterprises VENTURE CAPITAL in the form of: Capital investment and Mezzanine loan
The purpose of phase 3: /global growth/
- First penetration on global markets - Business expansion - Rapid growth
The purpose of the venture capital is:
2. VENTURE CAPITAL Product description:
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the promotion of equity investments in micro, small and medium-sized enterprises in the form of venture capital investments and mezzanine capital, support to SMEs with high growth potential with easier access to fresh financial resources and, consequently, easier and better foreign market penetration.
VENTURE CAPITAL /capital investment, mezzanine capital/ to 1,5 milion EUR
PRIVATE VENTURE CAPITAL COMPANIES
Mezzanine capital
EQUITY FINANCING
2015-2020
PHASE 3/GLOBAL GROWTH/
Venture capital has been implemented since 2010 in the form of equity financing through venture capital companies in the third development phase. With the capital investments of higher amount and mezzanine financing, SEF is, in collaboration with four supported venture capital companies, which have 49% of public funds and 51% of private investor’s funds, enabling young companies with extremely rapid growth potential faster global growth.
the development of existing venture capital market in Slovenia and thereby an increase of private venture capital companies,
SEF
Venture capital
SME
Young enterprises /enterprises younger than 5 years
HOW DOES THIS FINANCIAL INSTRUMENT WORK? VENTURE CAPITAL is implemented through venture capital companies, through which the funds acquired by the Republic of Slovenia, together with the funds of private investors are invested as venture or mezzanine capital in prospective, innovative and fast-growing young enterprises.
BEST PRACTICE
Celtra d.o.o.
Celtra - Slovenian technological start up develops technology for displaying interactive ads on mobile phones, enables the production and implementation of ads on mobile web portals or in mobile applications. It is a global enterprise, that generates the majority of revenues in the USA, but the whole product development is conducted in Slovenia. The enterprise has established itself on the market of mobile advertising by its flexible and userfriendly platform AdCreator. In 2011, they became due to technological advantages, the world’s leading provider in this field. Users of their platform AdCreator are large media portals and providers of mobile applications (e.g.: New York Times, NBC Universal, Washington Post, The Wall Street Journal, Rovio – Angry Birds, MVT, Skype, Zynga and other), large advertising networks (Google, Microsoft Advertising, Yahoo, Ad mob, Amazon) and agencies (Starcom, Digitas, Havas, Carat).
Best practice: Celtra d.o.o.
Celtra got the financial support in the form of venture capital through venture capital company – Prvi Sklad d.o.o., which is managed by RSG Kapital d.o.o and has been chosen through SEF’s public tender » Capital investments of Republic of Slovenia in private venture capital companies«.
New jobs
Revenues in EUR
2
2.300
+44 times increase to 90 employees
+ 5085 times increase to 11,7million EUR
88
Initial state: 2010 Jobs created by: 2013
11.697.700 Initial state: 2010 Created state by: 2013
Macroeconomic indicators show that the enterprise has, in the monitoring period after the investment, created 88 new jobs. Together the enterprise employs 90 people with high value added ( on the day 31.12.2013). The enterprise increased revenues 5085 times from 2.300 EUR to 11,7 millon EUR.
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CREDITS SEF’s direct credits In the context of the financial line of CREDIT, SEF offers in the fourth development phase direct credits to young enterprises and SME5+ in the form of:
The purpose of phase 4: /further growth/ - Current operation
Microcredits
MICROCREDITS Product description: Microcredit represents SEF’s direct credit at a favorable contractual interest rate in the fourth development phase intended for the financing of current operation both young enterprises and SME5+.
ment of entrepreneurship in rural areas, increase of enterprises, which exploit the natural potentials of Slovenia (healthy diet, clean environment, rural tourism,...).
The purpose of the product:
The product is designed for young enterprises and SME5+ and other specific target groups for:
2015-2020
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easier access to favourable financing resources, financing of start-up, financing of growth and development, financing of investments and current operation.
Young enterprises /enterprises younger than 5 years/
SEF CREDITS
PHASE 4/FURTHER GROWTH/
The purpose of the product is to enable enterprises or specific target groups, which in Slovenia represent a specific market gap, access to favorable financing resources (development of certain sectors between start ups – creative industries, computer literacy,...), promotion of entrepreneurship among young people in rural areas, develop-
MICROCREDITS (P7) to 25.000 EUR
SME Direct microcredits SME5+ /enterprises older than 5 years/
HOW DOES THIS FINANCIAL INSTRUMENT WORK? An enterprise has to apply to the SEF’s public tender published in the official Gazette of Republic of Slovenia and on the SEF’s website: www.podjetniskisklad.si. In the case of positive evaluation of the application, SEF grants the credit with favorable interest rate.
BEST PRACTICE
Ur-na d.o.o.
Ur-na d.o.o. is an enterprise with more than a 30-year-long tradition in spring manufacturing. They produce compression springs, extension springs, torsion springs and other products made from wire and spring ribbon. The enterprise Ur–na d.o.o. has been in 2012 granted a microcredit for working capital (P7) from the Slovene Enterprise Fund, which enabled the enterprise current operation. Macroeconomic indicators show that the enterprise has, in the monitoring period after the investment, preserved 22 jobs and in the same period ( on the date 31.12.2013), increased revenues for 300% and value added per employee for 32%. Best practice: Ur-na d.o.o.
That means that the initial state of 32.228 EUR per employee increased to 42.498 EUR per employee, which is 11% more than the average in 2013 in the Republic Slovenia, which was 38.093 per employee.
Preserved jobs
Revenues in EUR
283.672
Total: 22 preserved jobs
+ 300% increase to 2.158.462 EUR
Value added per employee in EUR
10.270 + 32 % increase to 42.498 EUR
22 1.874.790 Initial state: 2012
Initial state: 2012 Created state by: 2013
32.228 Initial state: 2012 Created state by: 2013
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GUARANTEES/counter guarantees/ Guarantees for bank loans with interest rate subsidy Guarantees for bank loans with interest rate subsidy represent the model of financial engineering, which offers a combination of different financial resources and multiplication of these resources due to leverage effect. In the context of the financial line of GUARANTEE, SEF offers in the fourth development phase different forms of guarantees as collateral for bank loans, intended to finance development investments, current operation and further growth of young enterprises and SME5+: Guarantees for technological innovative projects (P1 TIP) Guarantees for classical projects (P1) Counter-guarantee for regional guarantee scheme
Insurance of bank loans with SEF’s guarantee allows enterprises easier access to bank loans. A loan secured with SEF’s guarantee is for enterprises favourable due to lower collateral requirements, lower interest rates, longer maturity and the possibility of a grace period for loan repayment.
The purpose of phase 4: /further growth/ - Current operation - Further growth of the enterprise
The purpose of the product: The purpose of the product is faster, easier and cheaper obtaining of bank loans for the implementation of projects, that provide a competitive market penetration, improved market position and expansion of activities, as well as improvement of working capital financing in difficult economic conditions. The product is intended to young enterprises, as well as for SME5 +, that: gradually grow,
1. GUARANTEES FOR CLASSICAL PROJECTS
Product description:
SEF’s guarantees for classical projects for favorable bank loans are intended to finance tangible, intangible investments and working capital for micro, small and medium-sized enterprises in the program »YOUNG ENTERPRISES« and in program »SME5+«, and are basically divided into: development guarantees as collateral for bank loans, micro guarantees as collateral for bank loans for working capital. The enterprise obtains a loan in one of the participating banks, and the Fund provides lower loan costs and with the guarantee covers 60% to 80% of collateral. 12
increase the value added per employee, create or preserve jobs, lack sufficient collateral.
2. GUARANTEES FOR TECHNOLOGICAL INNOVATIVE PROJECTS Product description: SEF’s guarantees for technologically innovative projects with a favorable bank loan are intended to finance tangible, intangible investments and working capital for existing micro, small and medium- sized enterprises. They are divided into: development guarantees, microguarantees. The enterprise obtains a loan in one of the participating banks, and the Fund provides lower loan cost and partial loan collateral with the Fund’s guarantee. The purpose of the product: The purpose of the product is to encourage companies to implement the technologically-intensive projects which compete in the market, improve market position, expansion activities and strengthen the development of technological solutions in the enterprise. The product is intended to young enterprises as well as SME5 + that: plan investments that provide extremely fast growth of the enterprise, generate higher value added per employee, create jobs with high value added, ensure the successful transfer of development ideas into market-oriented undertakings, lack sufficient collateral.
3. COUNTER-GUARANTEE FOR REGIONAL GUARANTEE SCHEME Product description: Fund’s counter-guarantee is intended for guarantees issued by the regional guarantee schemes and offered to SMEs as collateral for bank loans.
The purpose of the product: The product is designed to support regional guarantee schemes operating in Slovenia, which grant guarantees as collateral for bank loans to SMEs from their region. This way the Fund provides a multiplication and integration of financial resources at the regional level, as well as unified support in providing favorable sources of financing for SMEs in individual region in Slovenia. Due to the risk undertaken from the Fund the guarantee volume in the region increases.
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PRESENTATION OF FINANCIAL INSTRUMENTS OF GUARANTEES/counter guarantees/
2015-2020
4 PHASE /Further growth/
GUARANTEES/counter guarantees/ Guarantees for bank loans with interest rate subsidy
- GUARANTEES for technological innovation project (P1 TIP) - GUARANTEES for Classical project (P1) to 1,25 mio EUR credit+ interest rate subsidy
SEF
Participating banks
Interest rate subsidies
guarantee
credit
Young enterprises /enterprises younger than 5 years/
SME
SME 5+ /enterprises older than 5 years/
HOW DOES THIS FINANCIAL INSTRUMENT WORK? The enterprise visits a bank which cooperates with SEF (list of banks is published in the public tender) and applies for credit with an explanation that SEF’s guarantee will be used as collateral. On the basis of conditionally positive decision the enterprise applies to the public tender. In the case of positive evaluation of the application SEF grants a guarantee as collateral for mentioned credit with lower interest rate, which enterprise pays for the use of credit. 14
BEST PRACTICE
Group Riedl
In the group RIEDL with enterprises Riedl Tomaz s.p., RIEDL CNC d.o.o. and Megaenergija d.o.o. are dealing with the manufacturing of precision metal products, production of electricity and heat an renting out property. The group employs 56 workers, revenues in 2014 have exceeded 7,5 million. More than 95% of the production of precision metal products is exported to Austria and Germany. “We have been collaborating with the Slovenian Enterprise Fund since 2007, when we succeeded in the tender P4 for the first time. We have used SEF’s products in previous years in accordance with our development plans for the purchase of new equipment, renovation of business premises and for working capital.” »We must emphasize that without the Slovenian Enterprise Fund the development of our enterprises in this extent could not be possible, because without their support we would not be able to gather enough financial sources to fund the development.« Macroeconomic indicators show that the enterprise has, in the monitoring period after the investment, created 8 new jobs (on the day 31.12.2013), increased revenues 105 times and increased value added per employee for 32% from the initial state of 28.321 EUR/employee to 37.641 EUR/employee, which is slightly less than the average in Republic of Slovenia in 2013 in the amount of 38.093 EUR/employee.
Preserved jobs
Best practice: Group Riedl
Revenues in MIO EUR
8
Value added per employee in EUR
9.320
+22% increase to 45 employees
2,03
+ 105% increase to 3,96 mio EUR
1,93
+ 32 % increase to 37.641 EUR
37 28.321 Initial state: 2011 Jobs created by: 2013
Initial state: 2011 Created state by: 2013
Initial state: 2011 Created state by: 2013
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SHORT OVERVIEW OF THE OPERATING RESULTS OF SLOVENE ENTERPRISE FUND IN THE PERIOD OF 2007-2014 Results 2007-2014: The Fund makes detailed analysis of the supported projects and therefore has available detailed data about financial investments into small and medium-sized enterprises (SME). The Fund has in the period 2007-2014 supported:
in the total amount of
698,54 mio EUR
68% GUARANTEES
in the amount
472,0 mio EUR
and 2.449 supported projects
2% CREDITS
in the amount
11,04 mio EUR
and 457 supported projects
3% EQUITY FINANCING
in the amount
24,7 mio EUR
and 47 supported projects
27% SPECIAL INCENTIVES
in the amount
190,8 mio EUR
and 1445 supported projects
1162 young enterprises
Results 2007-2004 /young enterprises and start ups/ Slovene Enterprise Fund pays special attention to young innovative enterprises and has in the period 2007-2014 supported:
Generated effects of financial incentives in 2007-2014:
4.398 projects
In the total amount of
160,9 mio EUR
70% GUARANTEES
in the amount
112,0 mio EUR
and 600 supported projects
1% CREDITS
in the amount
2,5 mio EUR
and 70 supported projects
15% EQUITY FINANCING
in the amount
24,7 mio EUR
and 47 supported projects
14% SPECIAL INCENTIVES
in the amount
21,7 mio EUR
and 445 supported projects
Generated effects of SEF’s supported enterprises:
Generated effects of SEF’s supported young enterprises:
•
Preserved jobs
•
400
•
New jobs created
Newly established enterprises (survival rate is 87%)
•
New jobs created per enterprise
•
New jobs created in start ups
1.624
•
Average value added increase within three
•
Supported innovative projects
•
New jobs/enterprise
years after the investment
88.000 7.300 1,7 14%
755
Active venture capital companies in public-private partnership
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VISION AND STRATEGIC DIRECTIONS OF THE FUND VISION Slovene Enterprise Fund is a specialized financial institution with the effective financial incentives for micro, small and medium-sized enterprises (SME) following the world’s best practices. The Fund implements the vision through two strategic directions with following objectives:
STRATEGIC DIRECTION 1:
STRATEGIC DIRECTION 2:
To provide effective financial incentives (guarantees, credits, equity financing, special incentives) for micro, small and medium-sized enterprises from start up to a healthy maturity (start up, own development and innovation, fast global growth, women entrepreneurship, social entrepreneurship, creative industries, renovation of the business model and other) with the purpose to increase value added per employee.
To operate according to the principles of simplicity, clarity, transparency and development orientation.
For the achievement of the first strategic direction following objectives are set: Objective 1
To implement financial incentives according to the principle of financial engineering to provide a multiplication of the public funds.
Objective 2
To implement two substantive programs of financial incentives for micro, small and medium-sized enterprises / program YOUNG ENTERPRISES/ and /program SME+.
Objective 3
Under both programs will be up to 2020 7.438 SMEs supported with ca.817,8 mio EUR of financial incentives and with ca. 45,5 mio EUR of additional benefits for the final recipients.
Objective 4
Objective 5
For the achievement of the second strategic direction following objectives are set: Objective 6
Providing of simple solutions of the Fund.
Objective 7
Using specialized software tools in all business processes of the Fund.
Objective 8
Publication of all relevant information for the beneficiaries of the Fund’s products.
Objective 9
Investment of SEF’s earmarked capital in accordance with the law.
Objective 10
Orientation to introduce improvements in all areas of the Fund.
To increase value added per employee for 20% at the final recipients of funds. Preservation of existing and creation of new jobs with higher value added per employee at the final recipients of the funds.
Share of supported enterprises by the Fund Supported young enterprises in most cases represent demanding jobs with higher value added. Young enterprises including
10% of startups
25%
young enterprises
start-ups created about 20% of all new jobs created by all supported enterprises during this period.
75%
SME5+ (enterprises older than 5 years)
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SEF s comprehensive image /products/target groups/ purpose of financing/ Financial products
GUARANTEES
Purpose CREDITS Other Renovation of the business model
EQUITY FINANCING
Creative industries Social entrepreneurship Woman entrepreneurship Fast global growth
SPECIAL INCENTIVES
Own development and innovation Start ups
Young SME’s (SME’s younger than 5 years)
SME 5+ (SME’s older than 5 years)
Active portfolio on 31.12.2014:
KEY INFORMATION Key financial indicators: •
Earmarked capital
•
Total assets
•
•
57,13 mio € 260,44 mio € /ca 50% EU funds/
•
Guarantees with interest rate subsidy
•
Credits
40,46 mio €
•
Deposits
222,8 mio €
•
Special incentives
47,6 mio €
•
Interest rate subsidies
35,1 mio €
236,16 mio €
Amount of granted resources in 2014
98,93 mio €
•
Capital investments
17,9 mio €
...of these young enterprises
27,26 mio €
•
Convertible loans
0,35 mio €
Number of supported projects in 2014
729 projects
Active portfolio
...of these young enterprises
226 projects
Number of active contracts in portfolio
BASIC INFORMATION ABOUT THE FUND Head Office: Ulica kneza Koclja 22, Maribor, Slovenia Establishment: 1992 Legal status: public-financial fund Director: Maja Tomanič Vidovič, M.Sc 18
Target groups
600,37 mio € 4.633
Supervisory board: Two representatives from the Ministry of economic development and technology,
Representative of the Chamber of Craft and Small Business of Slovenia,
Representative of the Government office for development and cohesion policy,
Representative of the Bank Association of Slovenia,
Representative of the Chamber of Commerce and Industry of Slovenia,
Representative of the Ministry of Finance.
Contact: Slovene Enterprise Fund Ulica Kneza Koclja 22, 2000 Maribor, Slovenia + 386 2 234 12 60 info@podjetniskisklad.si www.podjetniskisklad.si
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