FinMED online capitalisation events in Piemonte Region

On June 17th and July 01st 2021 two finMED capitalisation events were held in Piemonte Region to present the project

On June 17th and July 01st 2021 two finMED capitalisation events were held in Piemonte Region to present the project and its main results and aimed at promoting the project tools through the establishment of the regional stakeholder’s groups. The two events were targeted respectively to the Piemonte innovation Clusters and to the Regional Sectors in charge to manage the new Cohesion Policy and to promoting access to credit for SMEs.

Environment Park, together with Piemonte Region – Directorate for the Environment, Energy and Land use and the Management Department of the University of Turin, organised the first online capitalisation event “How to support the financing of innovation in green sectors: the finMED experience, the role of business support organizations and future scenarios", held on June 17th,,2021.

The event, attended by 17 participants, was organised within the activities of the finMED project and aimed at engaging the business support organizations and innovation clusters.

All 7 Piemonte Innovation Clusters were attending.

Moreover, during the meeting, the finMED Support Service tool was in depth presented and how the ESG criteria work in the benchmark process has met with great interest. In fact, Piemonte Clusters underlined the need to integrate the traditional financial assessment taking into account other aspects, such as research and innovation, management, reputational credits. The Innovation Cluster representatives shared some interesting insights about specific issues related to their experiences in support financing innovation in green sectors, during the last programming period, and to some pilot experiences in providing a technical assessment of investment projects to facilitate access to financial instruments. The Showcase session was focused on two initiatives:

1- the experience of the Comité des Cofinanceours, recently launched by the EA Eco-Entreprises partner as part of finMED activities, and

2- the Network Analysis Study, carried on by the Business Administration School of the University of Turin, on the role of Piemonte Innovation Clusters as network creators and enablers for sustainable development.

All participants agreed on the statement that a supportive ecosystem is needed around companies, to support their access to finance as well as to increase their chances of success in the funding applications. Piemonte Innovation Clusters claimed a stronger role for themselves in the elaboration and implementation of the regional policies and strategies related to green and sustainable growth. In addition, to reach the green growth sustainable objectives the qualified relationship, like the interactions between the Regional Public Authority and the networks of innovation clusters, could be pivotal. The purpose of mainstreaming the SST use toward regional innovation clusters had been met.

On July 01st ,2021 the second finMED capitalisation event, with a main focus on the Capacity Building tool, was held to present the project and its main results and aimed at engaging the Piemonte Region stakeholders group. It was organised by Piemonte Region – Directorate for the Environment, Energy and Land use and the Management Department, with the support of the University of Turin. The Regional Sectors in charge to boost R&D and promoting access to credit for SMEs attended the meeting.

In addition to presenting the three finMED tools and to promoting the active use of the tools, the event gave the opportunities to share the finMED lessons learnt and an overview of the Policy recommendations for the next programming period.

The involved Regional Sectors found great interest in the tools. They underlined the difficulty for both companies and the MA in managing the previous programming period rules for the combination of grant and financial instruments: the new scenario, gave by the possibility to combine the grant with a financial instrument in a single operation, could address the significant investment gaps and attract private investments. At the same time, this reduces the risks related to long terms returns investments and the administrative burden as well. From the participants emerged that a supportive ecosystem needs a collaborative dialogue between all the actors. However, they underlined that Public Authorities have to avoid the possible trade-off between social – economic, health issues and environmental and sustainability choices, making environmental improvements conditional in sector-specific financial support measures where possible. They can also improve the competencies of the Regional Innovation Poles, to support the companies also under the financial point of view, as a strategic choice to support green growth. The Regional representatives agreed that the experience of the Committee of Financiers, by Ea éco-entreprises, could suggest new elements to the next programming period framework. Also, the purpose of mainstreaming the CBT use toward the Regional stakeholder group had been met.

The interest shown by the participants during the two events underline that the finMED project responds in a concrete, affordable and effective way to the need, shared by all actors involved, to create a supportive business environment to boost financing of SMEs for green innovation.