programme for social change and innovation – social enterprise support geces, 6 june 2013 andrea...
TRANSCRIPT
Programme for Social Change and Innovation – social enterprise
support
GECES, 6 June 2013
Andrea MaierEuropean Commission - DG Employment, Social Affairs and Inclusion
I. Provisions of the Regulation
Programme for Social Change and Innovation
Support for social entre-
preneurship
and microfinance
Programme for Social Change and Innovation
EURES (mobility)PROGRESS
3 axes:
Programme for Social Change and Innovation (PSCI)
Social enterprise support
Primary social mission
Market-orientation
profit
Accountability & transparency
shareholders
DE
FIN
ITIO
N S
OC
IAL
EN
TE
RP
RIS
E:
What kind of support?
EquityQuasi-equity Loans Grants Up to
EUR 500 000
Social enterprises-With a turn-over and balance sheet of max. EUR 30 million-Not listed on the stock market
Mode of implementation
Commission
Other investorsFinancial institution
Fund of funds
Delegation agreement(s)
Guarantees
Social investment funds
SE SE SE SE SE SE SE
Co-investment
Budget 2014-2020
92.28 million €?
Commission proposal
MFF negotiations
II. Design of the financial instruments
Programme for Social Change and Innovation
Social impact measurement
…has as its primary objective the achievement of measurable positive social impacts… [part of the definition]
Social enterprise
Demonstrates social impact
EU support
GECES sub-group for social impact measurement
Financial instruments
1) Market imperfections and failures
2) Most efficient mode of delivering financial instrument
3) Performance measurement and maximisation of EU added value
Study on imperfections of the social investment market
Study questions:
-> Results expected in autumn 2013
Synergiesmapping
Market imperfections
Excessive focus
on debt – lack of
a secondary
market
Mismatch between
sustainable and
needed investment
sizes
Mostly short-term
funding
Lack of InvestmentReadinessof social
enterprises
Delivery options
Point to be taken into account:
Where do we stand ?
Commission proposal October 2011
European Parliament Council
Opinion expected for 3rd quarter
2013
Adoption (or second reading ?)
Thank you!