and enhance investments...31 Access to finance...31 Use of alternative financing sources...32 Finance knowledge...
and enhance investments...58 Pillar 5: Boost the digitally powered single market...61 Impacts...65 Conclusion...
and enhance investments. Improve access to finance for each stage of enterprise development and support the growth of digital entrepreneurial ventures. 5. Boost the digitally powered single market.
and enhance investments 5. Boost digitally powered Single Market Increase the take-up and use of digital technologies by industries and SMES in order to transform existing business
an investment of at least S$50k (equivalent to ca. € 30k) is required and a 10-page business plan must be submitted.
and enhance investments Finance is crucial to business success and an important factor for economic growth in Europe, especially in view of any past or future economic crisis.
through structural funds, the Competitiveness and Innovation Framework Programme, Progress Microfinance as well as lending from the European Investment Bank.
the Seed Enterprise Investment Scheme (SEIS) was created in the UK. To be eligible, a business receiving the investment must be a UK resident unquoted company,
less than two years old, have fewer than 25 employees and have less than £20, 000 in gross assets.
Difficult access to finance and investments. Fragmented digital market. By not tackling these stumbling blocks, policymakers not only compromise the economic recovery but also impose limitations on the digital industrial development of Europe.
defence research, military spending, world-class universities and technology investments Applicable to: Silicon valley & Sweden Hands-off Emerged organically Little active and direct government involvement Role of government might change rapidly,
going together with infrastructure investments This has resulted in a tech savvy population (engineering background), eager to adopt new technologies
The Europe 2020 strategy is about delivering growth that is smart-through more effective investments in education
The Digital Agenda proposes 101 specific policy actions across 7 domains to stimulate a virtuous circle of investment in and usage of digital technologies:
and wholesale pricing to promote investments in high-speed networks and strengthen competition across all networks. 4. For cloud computing,
to increase Europe's attractiveness for investment in design and production as well as growing its global market share. and online services 31 European commission (2013).
1. Investment in innovation-providing the right framework conditions for investment. 45 2. Better market conditions improvements in the functioning of the Internal Market
Starting from raising general ICT awareness and financing basic ICT investments and internet connectivity, e-business policies have matured towards personalised ebusiness coaching,
and enhance investments. 5. Pillar 5 Boost digitally powered single market. This list of policy actions is the result of in depth research
ACTION 13 Promote use of existing financial instruments Promote the use of existing European financial instruments and initiatives such as Horizon2020, the European Investment Fund,
SEIS the Seed Enterprise Investment Scheme in UK). ) Description Consider the case for a capital gains tax rollover relief for shares
in order to facilitate cross border investments in digital businesses. Tax relief systems can combine income tax relief for individuals who subscribe for qualifying shares in a company which meets the‘digital'requirements
and who have tax liability in a European country, with a capital gains re-investment relief system in which an asset
and does not take into account items such as investment and maintenance costs. Here, in order to estimate effort to implement policy actions, in a qualitative way,
and enhance investments Pillar 5: Boost digitally powered Single Market Low Medium High low Medium High Strategic Quick Wins investment projects Options for policy action 1 European Digital Innovation
campaigns 2 Reinforcing existing industry clusters 3 Encouraging industry-specific digital solutions distribution platforms 4 Awareness campaign on digital entrepreneurship 5 Mentoring
7 8 9 10 11 13 14 18 20 Implementation effort 5 17 19 12 15 16 21 Tactical investment
'and are described in Table 4. Table 4 Quick Wins projects The policy actions that are located in the top-right area of the matrix are typically strategic investment projects
These projects are described in Table 5. Table 5 Strategic investment projects Objective Action Description Pillar 1:
and enhance investments (13) Promote use of existing financial instruments Promote the use of existing European financial instruments and initiatives such as Horizon2020, the European Investment Fund, JEREMIE (Joint European Resources
and enhance investments (14) Tax incentives for a capital gains tax rollover relief for shares Share, promote and support best practices on tax incentives for digital entrepreneurship to encourage more people to reinvest their gains in the digital business (cfr.
SEIS the Seed Enterprise Investment Scheme in UK). ) Pillar 5: Boost digitally powered Single Market (21) Facilitation of public procurement of digital innovations developed by SMES Set up actions to facilitate the public procurement of digital innovations developed by SMES. 66 The bulk of proposed
Table 6 Tactical investment projects As a final remark, it is important to note that the true impact will only be realised
and enhance investments (15) Implementation of the European Intellectual Property framework Accelerate the implementation of the European Intellectual Property framework,
Difficult access to finance and investments; Fragmented digital market. 68 To turn ambitions from vision to reality,
'‘strategic investment and‘tactical investments'projects were identified. Embedding digital innovators in existing industry clusters launching awareness campaigns on digital entrepreneurship, the use of open data, promotion of existing financial instruments and leveraging the national Points of Single Contact are classified as‘quick win'projects.
The initiative aims to promote Ireland as a hub for design excellence andencourage investment in design as a key driverof competitiveness and innovation.
Demonstrate the positive ROI from investment in design-driven innovation27 33 Building Design-Driven Capability Building a design-driven innovation capability for SMES Show the design-driven
has been to the forefront of this programme of investment with supports provided across a range of areas such as;
the return on investment is greater than whendesign is used only for styling. 20the Returns 21 Strategic capability to respond to current challenges and people'sneeds in the right way at the right time;
and monitors the impact of their investment in design and innovation over time'21 compared to Standard and poor's (S&p) 500 companies.
and firms in the manufacturing sector to understand the impact of investment in strategic design had on profitability.
Trade and Investment) is influencing companies in Northern ireland to help increasetheir productivity, reduce costs and improve their competitiveness. 30design-driven innovationsupport programmes for SMESIDENTIFY best practice examples tolearn from design-driven innovation5830p. 4 http://secure. investni. com/static/library/invest-ni
Ministry for Business and Growth Investment: €290, 000 (2010-2012) Run by: Danish Design Centre37scherfig, C.,Brunander, M. and Melander, C. 2010.
The total investment by the Danish Government was €200, 000. Design Boost was a short intensive program that aimed to introduce companies to design.
Thetotal investment by the Danish Government was €90, 000. These examples give a quick overview of programmes strategically placed to develop Denmark's innovation capacity and the take-upof design based on the Design Ladder.
New zealand Trade and Enterprise Investment: NZ$5MILLION per annum (approx. €3. 8m)( ongoing) Run by: Better By design (Operating withinnew Zealand Trade and Enterprise) 38text adapted by the authors from the SEE Project Case study Library www. seeplatform. eu/casestudy. aspsupport Programmesstep 01step 02step 03step
Quantitative research carried out in 2008 among Better By design clients revealed a 119%increase in investment in design, anaverage increase in exports of 37.5,
Trade and Investment, manages the country's Design Serviceprogramme. Since 2008 there have been two significant phasesof funding.
In 2011 and 2014, independent evaluations of thesetwo funding periods indicated a significant positive net return on the Design Service investments set out above.
Department of Enterprise, Trade and Investment Investment: £2. 4m (2008-2011) £3. 5m (2012-2015) Run by:
Ministry of Trade and Employment Investment: €8m to date (2008-ongoing) Run by: The Norwegian Centre for Design and Architecture Support Programmes 69 A study in 2009 by the Norwegian Design Council (now The Norwegian Centre for Design and Architecture) showed that companies that use design-driven
in most cases the initial modest funding by the Norwegian Design Council was followed up bysignificant R&d investment by the companies themselves.
Companies involved emphasise that this investment would not have been made without the initial support from the programme.
Welsh assembly government Investment: £1. 2m (2010-2013) Run by: National Centre for Product Design and Developmentresearch (PDR), Cardiff Metropolitan University, Walessupport Programmes43engineers Employers Federation (2009.
R&d investment induced and jobs created). Combined, these indicators have a significant impact on both behaviour and practice within a business.
Internationally there is widespread investment in ehealth, broadly defined as the exploitation of information and communication technologies (ICT) in healthcare to enhance the quality and safety of patient care.
A Consultation Document Health Information and Quality Authority 16 4 Findings In the current economic climate, where it is unlikely that there will be significant investment in the development of EHRS,
if they were to be able to retain the significant investment in existing systems and be proofed future against whichever of the competing standards available at the time (2007) became the international norm.
Information and communications technology (ICT) represents a key technology for Germany as a location for business and investment.
and build intelligently networked transport systems. 1. Framework conditions to support marketdriven development Developing grid-bound and wireless high-speed networks for electronic communication requires substantial investment,
In this regard, we will facilitate a regulatory framework that supports investment and innovation, creates legal
and that they provide the planning certainty required for investment. The Network Alliance for a Digital Germany (Netzallianz Digitales Deutschland) is established a forum by the government for comprehensive discussion by telecommunications and network operators of the conditions for incentivising market investments.
It acts both as a forum for new ideas and as a discussion platform. By autumn 2014, the Network Alliance for a Digital Germany will present a roadmap outlining all action areas relevant for digital expansion together with key milestones for network expansion. 2. Digital access
By releasing 700 MHZ frequencies (second digital dividend), we are further incentivising investment in the expansion of the broadband network. 3. Promoting mobility
and market analysis. She worked for Citigroup analysing economic trends and providing investment recommendations on Latin america's financial assets.
The increased complexity of the agriculture value chain, the enforcement of strict public and private industry standards and the growing competition among developing country suppliers, highlight the need for strategic investments in workforce
Crowdsourcing is becoming increasingly popular as a way for employers to instantaneously increase their workforce without the investment
It requires investment in constant development upgrades, and new features. App stores are highly competitive and offering new features is essential to maintaining an app's ratings and reviews.
their business model and their case for investment. The competition targets start-ups and businesses through competitive funding, offering venture capital, mentorship and other forms of support.
Innovative ICT solutions for youth employment 40 turn to crowdfunding as one of their primary sources of investment capital.
can access screened ventures and review ventures that match their investment criteria. Members meet online as well as organize offline-networking events called VC4AFRICA Meetups.
It aims to support entrepreneurs by providing them with investment, training and mentorship in an effort to accelerate the transformation of their business ideas and start-ups into high growth companies in the ICT, digital media and mobile sectors.
and possibly investment directly from Oasis500. Since 2010, it has received 2 000 applications and has invested in 49 companies.
and civil society) investments; supportive policy environments, and; partnerships across sectors to spur innovation, economic growth and employment.
However, despite significant investments, formal educational systems continue to face challenges in preparing youth with the ICT-related skills they need to succeed.
and investments are designed to attract students into science, technology, engineering and mathematics (STEM) fields. Similar programmes are emerging in developing countries.
An open dialogue between governments and the private sector can help overcome issues related to coordination of investments in skills development and education.
identify business opportunities and seek financial investments. Promote and support collaborative innovation spaces, including co-working spaces, tech hubs, business incubators,
%shared value investments can raise their incomes by more than 300%.%Initial investment and time may be required to implement new procurement practices
and develop the supporting cluster, but the return will be greater economic value and broader strategic benefits for all participants.
which supports employment, wages, purchases, investments, and taxes. Conducting business as usual is sufficient social benefit.
Shortening investor time horizons began to narrow thinking about appropriate investments. As the vertically integrated firm gave way to greater reliance on outside vendors,
because they involved isolated interventions and overlooked critical complementary investments. Creating Shared Value-Harvard Business Review Page 8 of 13 http://hbr. org/2011/01/the-big-idea-creating-shared-value/ar/pr 11/30/2011
Yara is tackling this problem through a $60 million investment in a program to improve ports and roads
which has benefited from continued investment from both the private sector and local government, has experienced huge growth in employment, incomes,
which reflect the investment or new-product cycle in the industry. Phase in periods give companies time to develop
How Shared Value Differs from Corporate Social Responsibility Creating shared value (CSV) should supersede corporate social responsibility CSR) in guiding the investments of companies in their communities.
and investments made in Europe over the last decade. DSI aims to promote innovation and social change based on the network effect:
and the type of investments made by the European union in this field. The final part of the paper concerns DSI impact evaluation and proposes a methodological framework for assessing specific results in a qualitative and quantitative way.
The investments made by the 2 European commission since 1999 are indeed significant with the largest budgets coming from its Research Development and Innovation framework programme of activities.
Adaptation from Jeremy Heimans Tedsalon Talk (2014) The role of the European union In this policy context we document the investments made by the European Commission since 1999.
These actions will make possible to better evaluate the investments made so far; it will also be possible to better understand the replicability and transferability of these initiative at national and local level and in non-European countries.
Nesta is backed with an endowment originally provided from the UK National Lottery and works through a combination of research, investments,
In some cases substantial investment will be needed to achieve this. 5. Expand the European DSI network
While massive commercial investment and business models fuelled the web's incredible growth, the use of platforms like Facebook to serve social good has been disputed accidental
for the most part due to a lack of an open infrastructure and difficulty finding investment. The future of the Internet should remain pluralistic,
Europe could provide an alternative model in the form of investment in open infrastructures on the network, service and data layer.
This vision requires more investment in fundamental research to promote net-neutrality, strong encryption, banning of trivial patents, open standards and free software together with the multi-stakeholder governance model.
or lack of investment. It is crucial for successful crowdsourcing to design the activity properly to prevent excessive demands and frustrations.
AND ACCELERATORS MAKER AND HACKER SPACES ADVISORY OR EXPERT BODY INVESTMENT AND FUNDING 152 26 13 74 76 70 30 30 31 32 0 Project
Further support, investment advice and funding oppertunities for SMES and young companies are also available through the Startup Europe programme.
The US Federal government spends 2. 6 per cent of a much larger per capita GDP on research compared to only 1. 3 per cent on average in the EU. Early-stage funding for innovation is also more heavily supported by government investment
and subsidies in the USA than the EU. Approximately eight times as much public as private business investment goes into early stage technology development in the USA.
In the EU investment in research and technological development is based more market and demonstrably less effective (FINNOV European Policy Brief.
or the UK's Big Society Capital fund and India's Inclusive Investment Fund. They combine investments in new hardware
and software with experiments to discover better ways of delivering healthcare or reducing carbon emissions.
Seed funding is a very early-stage investment, meant to support the business until it can generate cash of its own,
or until it is ready for further investments. Seed money options include friends and family funding, angel funding and crowdfunding.
AND INNOVATION SUPPORT One important objective is to provide infrastructural investments such as broadband deployments and pan-European digital services that underwrite robust, equal,
INVESTMENT ON ENABLING INFRASTRUCTURES Community and bottom-up networking is an emerging mode of the Future Internet,
it needs investment in alternative architectures that favour new players and allow for bottom-up innovation. This includes the need for distributed data repositories and management systems
Investment for this kind of innovation support programmes can come from public funds but could also be through public private partnerships or crowdfunding.
Growing a Digital Social Innovation Ecosystem for Europe 83 The standards are used by the DSI accelerator Bethnal Green Ventures77 and Nesta's Impact Investment team78,
and the emerging Internet of things have their roots in strong public investment that funded general-purpose technologies and basic research.
just as in science and technology, innovation in society needs carefully crafted investment and support. There is a need to maximise the social value generated by digital technologies
In some cases substantial investment will be needed to support innovations through to sustainability just as in business, where many of the most transformative innovations required many years of patient,
large-scale investment before they delivered returns. Alternative socioeconomic models based on trust and their reputations are emerging.
the European platform against poverty and social exclusion, the Innovation Union, the Social Business Initiative, the Employment and Social Investment packages, the Digital Agenda, the new industrial policy, the Innovation
For that reason, the forthcoming Communication"Towards Social Investment for Growth and Cohesion-including implementing the European Social F und 2014-2020"(Social Investment Package SIP) emphasizes the importance embedding social policy innovation in policy making
what is obvious and consensual), consistently with a logics of investment; -mobilising a wide range of actors whose (non-)action has an impact on protection/inclusion/cohesion/well-being (instead of focussing only on the social professions;
These new approaches to measuring social impact such as social return on investment and social audit are explored in the report‘Strengthening social innovation in Europe:
'The European commission defines the overall strategic guidelines of investment and then agrees seven year investment programmes with the Member States which focus the resources on agreed objectives.
A Managing Authority for each programme, normally located within a national or regional ministry, is then responsible for launching the calls for proposals,
European Regional Development Fund (ERDF) The ERDF finances direct aid to investments in companies-in particular small and medium sized entreprises (SMES)- to create sustainable jobs as well as infrastructures linked notably to research and innovation telecommunications
Joint European Support for Sustainable Investment in City Areas-supports sustainable urban development and regeneration through financial mechanisms.
but is unattractive for those who seek a quick return on investment. Via support from the Social Economy network in The netherlands
There are increasing numbers of financial institutions that specialise in investing in social enterprises and many of the new ethical banks specialise in this type of investment.
Other funds have raised money for specific types of investment. For example, the Asset based development fund enables communities to raise money to buy public assets such as redundant schools or health buildings.
and social return on investment. SESC helps social enterprises to become financially sustainable, deliver quality services,
The Axis 4 of the European Fisheries Fund supported the investment needed to improve and adapt the physical working conditions to make them accessible to people with disabilities.
and managed by the European Investment Fund with a total fund of €160 million. It invests in microcredit providers
With training support through the ERDF's JASMINE and investment from the European Investment Fund, its scale and reach has increased year on year.
and monitoring instruments regarding social investment. The forthcoming Social Investment Package (SIP) will reinforce the necessity of reexamining existing social policies in order to optimise their effectiveness and efficiency.
In doing so, it will translate a social investment approach as a framework for redirecting Member States policies towards greater investment throughout the life-cycle.
It is important to recall that progress made by Member States in implementing SIP will be assessed by the Commission as part of the European Semester.
and negotiation of Partnership contracts and Operational Programmes to take full advantage of the Social Investment Approach by early 2013.
In a cohesion policy context, decisions on financing have to be in concert with the scope, the thematic objectives and investment priorities of the funds.
According to this, projects which integrate hard infrastructural investments, business support measures, investment into human resources and others are feasible.
In case one part of the envisaged actions fall under the scope of one fund and another part under the other,
which social innovation is addressed through an investment priority. The ERDF also specifically includes social enterprises under the investment priority for social inlcusion
and combatting poverty. At the same time, the European Social Fund foresees social innovation in all the policy fields which belong to its scope,
which means that it is supposed to take place through all investment priorities of the employment, education, social inclusion and administrative capacity building priorities or address the areas of these thematic objectives through a separate priority axis on social innovation.
the different types of investments will be made conditional to ex-ante requirements (ex-ante conditionalities. These are linked to the investment priorities.
Corresponding to the two, explicit and horizontal thematic approaches to social innovation described above, ex-ante conditionality differs according to investment priority.
A specific requirement linked to innovation strategies applies to the relevant investment priority under the research, technological development and innovation thematic objective in ERDF.
At the same time, conditionality sets are in place for specific investment priorities of the employment, education, social inclusion and institutional capacity building thematic objectives.
These ex-ante conditionality requirements, e g. the elaboration of national or regional strategies covering the respective policy areas
which is meant to provide simpler funding for investments which address multidimensional needs. Social innovation is conceived often to address complex social problems which call for investment into human capital, skills, institutions, organisational structures, technology, equipment, infrastructure etc. at the same time.
The provisions of the new regulatory environment favourable to integrated responses with simultaneous interventions of more funds, are beneficial to programming
means that social innovation can take place in all policy fields of the ESF investment priorities.
In terms of programming, the provision translates into the possibility to design social innovation programmes through every ESF investment priority.
The provisions on thematic concentration at least 60,70 or 80%of funding to be concentrated on maximum 4 investment priorities in each ESF OP
the 20%earmarking to social inclusion and the concentration on 4 investment priorities, social innovation will be linked closely to the policies contributing to Europe 2020 and supported by ESF.
and comprise one or more investment priorities (CPR Article 87.1). ) By derogation from this rule, social innovation interventions do not necessarily have to take place under specific thematic objectives and investment priorities.
Depending on the number of themes which have been selected for social innovation, the amount of funding allocated
Nevertheless, a systematic approach is ensured in those programmes too where social innovation takes place through the investment priorities under the thematic objectives by the obligation to explicitly set out the contribution of ESF actions to social innovation (Article 11.3 (b)).ERDF provisions
Article 5 of the ERDF Regulation sets out the investment priorities under each thematic objective for this fund.
Thematic objective 1 on strengthening research, technological development and innovation, includes the following investment priority (b:"
"promoting business R&i investment, product and service development, technology transfer, social innovation and public service applications,
As investment in innovation, together with investment in energy efficiency and supporting SME's competitiveness, will be the main orientation for ERDF in the coming financing period,
this is a key investment priority. It is linked to the ex-ante conditionality on smart specialisation,
. But there are more possiblities to include social innovation in ERDF investments under other priorities: Under thematic objective (2) enhancing access to and use and quality of ICT,(c)" strengthening ICT applications for e-government, e-learning,
thematic objective (3) on enhancing the competitiveness of SMES mentions the investment priorities (a) promoting entrepreneurship,
the possible support for the development of business incubators and investment support for self employment and business creation can be very relevant for socially innovative start-ups.
It is very important that ERDF support to these investment priorities is coordinated with ESF investments.
such as Financial Instruments or Integrated Territorial Investments, which offer both new possibilities and wider flexibility to adapt to the specific nature of social innovation processes.
the Social Investment Package (SIP) will provide a strategic approach for implementing social policy reforms. Social policies are as complex as the needs of the target groups they address.
Therefore it is important that adequate funding is provided to all types of investment needs of the policies,
be it human capital investment or infrastructure, and this aspect has to be taken into account during the design of operational programmes.
Also, ERDF investment in health or education infrastructures, are impossible without compliance with the corresponding health and education strategies and reform plans,
also involving ESF investment. Joint planning is necessary. There needs to be complementarity between ESF and ERDF investments.
ERDF funding for productive investment in SMES can be coupled by ESF funding for retraining personnel, for example.
ERDF funding for networking, cooperation and exchange of experience between regions, towns and the relevant social,
when planning investments for innovation. Its aim is to boost the innovation potential of the region or member state,
it is necessary to ensure that social policy interventions with an infrastructure investment need are covered either by cross-financing
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