SME Finance Forum   Working meeting 6-7-2011,   Brussels   Disclaimer:   The views expressed in this presentation, as well...
« The Europe I believe                          in »                          “The financial and economic                 ...
Where can you find social innovators?European Commission                                                                  ...
Social innovation produces innovationsthat meet a social need by:    Workplace innovation: empowering people    Connect so...
Social innovation       What are businesses doing here?European Commission                           SME forum 6-7-2011Ent...
Companies see opportunities in social innovation: 1. Increased demand for sustainable or energy-    efficient products and...
Who is funding social innovation already –     public funds – some examples?     Social Innovation Funds:     • Estonian D...
Who is funding social innovation already –     private funds – some examples? Social banks: • Banco Prossima (IT), Credit ...
Problem analysis: Social innovators have commitment, experience and energy. But: little access to appropriate funding. Res...
Ideas by SIE                                      consortium   What could help? Toolbox of funds:     Investment in ideas:...
Questions to you: •         The public sector has funded social innovation in           many ways and for a long time, but...
Thank you for your attention andlooking forward cooperating with you!Your comments and inputs are very welcome on the Soci...
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Henriette Van Eijl Presents on social innovation to the sme forum

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Henriette Van Eijl describes the potential impact of social innovation models on the growth of small and medium enterprises

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Henriette Van Eijl Presents on social innovation to the sme forum

  1. 1. SME Finance Forum Working meeting 6-7-2011, Brussels Disclaimer: The views expressed in this presentation, as well as the information included in it, do not necessarily reflect the opinion or position of the European Commission and in no way commit the institution.European Commission SME forum 6-7-2011Enterprise and Industry
  2. 2. « The Europe I believe in » “The financial and economic crisis makes creativity and innovation in general, and social innovation in particular even more important to foster sustainable growth, secure jobs and boost competitiveness.” President Barroso at the BEPA Workshop on ‘Europe and Social Innovation’, 20 January 2009European Commission SME forum 6-7-2011Enterprise and Industry
  3. 3. Where can you find social innovators?European Commission SME forum 6-7-2011 From the 2010 SIX social innovation study commissioned by the ECEnterprise and Industry
  4. 4. Social innovation produces innovationsthat meet a social need by: Workplace innovation: empowering people Connect social economy, social entrepreneurs, business, charities, public sector, finance Strong link to public sector innovation Street-corner, local, regional, national to EU levelsEuropean Commission SME forum 6-7-2011Enterprise and Industry
  5. 5. Social innovation What are businesses doing here?European Commission SME forum 6-7-2011Enterprise and Industry
  6. 6. Companies see opportunities in social innovation: 1. Increased demand for sustainable or energy- efficient products and services: 32% 2. New services and products for older consumers: 15% 3. Education, social- or health services: 12%European Commission Source: Innobarometer 2009 study SME forum 6-7-2011Enterprise and Industry
  7. 7. Who is funding social innovation already – public funds – some examples? Social Innovation Funds: • Estonian Development Fund, Social Enterprise Investment Fund, UK Innovation Agencies: • TEKES and SITRA (Finland), VINNOVA (Sweden) European Funds: • European Social Funds • EIB-ESF Progress Microfinance facility • Other Structural Funds: ERDF • Research Framework Programmes and CIPEuropean Commission SME forum 6-7-2011Enterprise and Industry
  8. 8. Who is funding social innovation already – private funds – some examples? Social banks: • Banco Prossima (IT), Credit Cooperatif (FR), Triodos (NL), Commercial investment funds (financial return, then social impact): • PhiTrust (FR), BonVenture (DE), Social investment funds (social impact most important): • CAF Venturesome (UK), Fondazione CRT (IT) Venture philanthropy funds (grants and advice): • Impetus Trust (UK), d.o.b. (NL)European Commission SME forum 6-7-2011Enterprise and Industry
  9. 9. Problem analysis: Social innovators have commitment, experience and energy. But: little access to appropriate funding. Result: no shortage of good ideas, but far too few achieve the impact they could.European Commission SME forum 6-7-2011Enterprise and Industry
  10. 10. Ideas by SIE consortium What could help? Toolbox of funds: Investment in ideas: < ~ 25,000 € Investment in prototypes ~ 300,000 € Implementation fund < € 30 million Scaling – jointly with public sector, banks and foundations < € 100 millionEuropean Commission SME forum 6-7-2011Enterprise and Industry
  11. 11. Questions to you: • The public sector has funded social innovation in many ways and for a long time, but what role should the private sector play in funding social innovation? • What would be the role of different tools offered by the private sector, including cooperative banks – for instance through capital markets or through banking finance? • How might private investors be empowered to drive positive change? • What can be done on a European level? • Where do we want to be in 10 years time? What do we want the finance infrastructure look like?European Commission SME forum 6-7-2011Enterprise and Industry
  12. 12. Thank you for your attention andlooking forward cooperating with you!Your comments and inputs are very welcome on the Socialinnovation Europe’s website:www.socialinnovationeurope.euHenriette VAN EIJL, Henriette.van-eijl@ec.europa.eu European Commission SME forum 6-7-2011 Enterprise and Industry

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