Startup Europe Regions Network organised the first Exchange of Experience ‘Analysing Policy Instruments’ within the Innova-FI project in Brussels on 06 and 07 November for nearly 25 people. The Exchange of Experience focused on the database tool ‘Financing Innovation’ that will evaluate how regions are currently using financial instruments for the support of highly innovative businesses.
Innova-FI Financial Instrument Mapping tool - a matrix made of three axes, (a) type of innovation, (b) type of financial instrument being used and (c) type of sources - will allow to know the state-of-play and starting point in the different partner regions and will allow to:
- Map existing financial instruments, allowing comparison within the different instruments and the same in different Regions.
- Highlight best practices, by their number or impact.
- Show gaps where no instruments are applied, and subsequent opportunities.
- Inspire decision makers at regional, national and EU level to improve the portfolio of existing instruments, as well as to create new ones well adapted to the SMEs needs and demands.
The first day of the agenda focused on the multi-dimensional matrix structure of the tool above mentioned. The partners were invited to provide comments, suggestions, and feedback on several significant categories to make sure this tool is a practical guide to apply in each partner region and will provide a cross-thematic relevant classification, in order to be didactic and easy to use.
On the second day of the EoE experts from the European Commission, as well as, representatives from managing authorities, financial intermediaries and other involved authorities on the thematic of Financial Instruments took the floor.
Mr. Adam Abdulwahab (DG REGIO, Unit B3. Financial Instruments and International Financial Institutions Relations) gave an overview on Innovation Support and ESIF Financial Instruments and Cllr Flo Clucas (CEMR Spokesperson and former Deputy Leader Liverpool City Council) presented Liverpool’s concrete experience of financial instruments in urban regeneration including benefits & lessons learnt. The day wrapped up with the Steering Committee Meeting.
Overall, all the participants and the stakeholders found the workshop very interesting and they acknowledge getting useful insights on Financial Instruments.