Start Ups receive additional EU support
By Ingemar Pongratz
The European Commission has recently released information on additional support for European Entrepreneurs and European SME. In this example, the European Commission has recently released a Communication (Europe’s next leaders: the Start-up and Scale-up Initiative) presenting the Commission’s plan for future activities. These activities are expected to make it easier for European Entrepreneurs and European SME.
The initiative is part of the broader Entrepreneurship 2020 Action plan, which aims to create a new support structure, namely the European Innovation Council. The plans to establish the European Innovation Council have presented times in this web page.
The aim of the Communication is to present the EU Commission plans on how SME in Europe will benefit from additional Commission support. In this case, the Communication focuses on three main areas:
- To remove barriers for startups to grow in the European Single Market.
- To create better opportunities for partnership, commercial opportunities and skills.
- To facilitate the access to finance.
Improved access to financing will be achieved by establishing a central structure. This structure will gather available support for SME under one roof. The Commission is aiming to pool both public and private funding to support European SME. The Commission plans to combine different funding schemes such as EFSI, COSME and the Horizon 2020 Research and Innovation funding scheme together with funding from private sources. This approach is expected to provide considerable leverage and optimize the use of public funds.
In addition, the European Commission plans to simplify the regulatory landscape in Europe by identifying and removing regulatory obstacles that SME face.
Furthermore, the Commission is aiming to introduce measures to support networking and collaboration between sectors and innovation actors. This will to ensure that SME are able benefit from expert support and advice. Through these activities the Commission will ensure that the Start Ups receive additional EU support in the future.
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