RE-thinking MICROcredit as a tool to support SMEs and boost LOCAL economies

Acronym

REMICRO LOCAL
Project Number – MIS 5070104
Priority axis 1 - A Competitive and Innovative Cross-Border Area
Investment priorities 3a - Promoting entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators
Intervention fields 066. Advanced support services for SMEs and groups of SMEs (including management, marketing and design services)
Call 6th CALL FOR PROJECT PROPOSALS
Lead Beneficiary BUSINESS AND CULTURAL DEVELOPMENT CENTRE (KEPA)
Beneficiaries ALLIANCE FOR REGIONAL COOPERATION AND DEVELOPMENT
Rhodopes Regional Tourism Association
SERRES CHAΜBER'S DEVELOPMENT COMPANY
Start Date Apr 19, 2021
End Date Apr 18, 2023
Budget 567.310,60 €
ERDF Contribution 482.214,01 €
National Contribution 85.096,59 €
The project’ overall objective is the development of a cross border partnership composed of business support organizations that will exchange good practices and cooperate with a goal to jointly tackle the issue of empowering existing and new businesses in the cross border area. The project aims to improve and extend the supply of high quality business support and capacity building actions tailored to businesses’ specific needs so that they enhance their competences and manage to grow. Specific focus will be given to certain business sectors, also included in the RIS3 studies, such as a) Agro-food industry b) Renewable energy and energy saving c) Sustainable tourism d) Materials-technology and e) Information and Communication Technologies.
The main results of the project in particular will be: business support structures/ 300 SMEs’ representatives participate to the business support activities/500 unemployed and small entrepreneurs increase their skills and capacity though the training and support provided by the project /50 people will generate income activity by receiving training and support (including financial support though the cooperation with microcredit or other financial providers) /20 former entrepreneurs (restarters)and social entrepreneurs get assistance in order to start a new business / opportunities for young people to stay in the regions / 4000 people informed about the project /Participating staff of the organizations increase capacity and expertise/ knowledge exchange between the participating partners.
The project methodology will include investments in entrepreneurship support infrastructure and service provision systems of the partners; in order to deploy a diverse range of business advisory services taking the form of either generic or high-value added services. The project will aim to facilitate the access of entrepreneurs to financing by linking them with the microcredit sector and other private investors (e.g.Venture Capitals, Business Angels,national or EU funding opportunities)in order to get financial assistance. Additionally, the project is addressed to several target groups such as young people and second chance entrepreneurs. Sector-specific training is also another innovative element of the provided services where specific focus will be given.

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