Regional Policy EUROPEAN COMMISSION EN JEREMIE and economic development based on innovation in Poland? Manfred Beschel Directorate General for Regional.

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Presentation transcript:

Regional Policy EUROPEAN COMMISSION EN JEREMIE and economic development based on innovation in Poland? Manfred Beschel Directorate General for Regional Policy Brussels, 2 June 2008 JEREMIE and economic development based on innovation in Poland? Manfred Beschel Directorate General for Regional Policy Brussels, 2 June 2008

Regional Policy EUROPEAN COMMISSION EN Innovation: Poland‘s situation in the EU-27 Source: European Innovation Scoreboard 2007

Regional Policy EUROPEAN COMMISSION EN Catching-up in Poland Business environment: Performance of Poland in perspective

Regional Policy EUROPEAN COMMISSION EN Market Failures in Poland Under- developed business angels networks Low R&D- GDP ratio, poor technology transfer record Low VC activities compared to GDP and no early stage invest ments Limited number of guarantee operations Low ratio of SME domestic credit to GDP Low provision of micro finance for self-employ ment and start-ups Business Angels Tech Transfer Venture Capital Guaran- tees Bank Lending Micro finance PROBLEMS

Regional Policy EUROPEAN COMMISSION EN Regional Policy and SMEs Traditionally support through grants; Increasingly non-grant instruments are used  loans  guarantees  equity  tech-transfer  mezzanine forms These revolving instruments are more market oriented, contribute to business development without distorting competition and are embedded in the renewed Lisbon startegy

Regional Policy EUROPEAN COMMISSION EN Non-grant Instruments Public funds for SMEs - recycled every few years - achieve an additional leverage private sector finance Main forms - formal equity, - micro-credits, - revolving loan schemes, - mutual guarantees and - business angel networks (‘informal venture capital’). Main purpose of public intervention: - address market failure - the reluctance of private sector institutions to provide finance to start-up and SMEs, especially where projects are seen as high risk.

Regional Policy EUROPEAN COMMISSION EN EU Funds in Poland Total (without performance reserve)‏ Total (with performance reserve)‏ Total EU allocation (m€)‏ Human Capital Technical Assistance European Territorial Cooperation Development of Eastern Poland Innovative Economy Infrastructure and Environment Regional Operational Programmes Operational Programmes

Regional Policy EUROPEAN COMMISSION EN Financial Engineering in Poland JEREMIE type of actions implemented at three levels in Poland National level: OP Innovative Economy - National Capital Fund (KFK) - Allocation for KFK amounts to EUR 153 million (ERDF). OP Development of Eastern Poland - Allocation EUR 5 million (ERDF) Regional operational Programmes - Letters of intend with the EIF signed by 5 regions: Wielkopolskie, Pomorskie, Zachodniopomorskie, Dolnoslaskie, Lodzkie - Allocations vary about mln. EUR (ERDF)

Regional Policy EUROPEAN COMMISSION EN Conclusions Build on experiences from (First support for Financial Instruments in SOP Improvement of the Competitiveness of Enterprises)‏ Time to act - use this chance In view of further development and use of innovative Instruments, in  Chance for - increase of in competitiveness of enterprises and - economic development in general

Regional Policy EUROPEAN COMMISSION EN Thank you for your attention ! For further information