Boosting the financing of innovation for green growth sectors through innovative clusters services in the MED area
On 27-28 September 2018, project partners participated in the Second Meeting of the finMED project in Cagliari (Italy), hosted by the project partner Sardinia Region. Coordinated by the Financial resources and assets Directorate of Piemonte Region, they talked through various activities of this long-term project, that includes studying, testing, transferring and capitalisation of tools and solutions to finance innovation in green sectors.
Besides networking, the meeting had the purpose to share the status of implementation of the ongoing activities, present deliverables and results already finalized and set together the work plan for the following semesters.
The main efforts of the consortium are actually focused on studying activities, with the objective of increasing understanding and knowledge of mechanisms and solutions for financing innovation in green sectors by public and private actors. The project has already delivered an extensive report on existing instruments and mechanisms to finance innovation in green sectors in Europe and finMED area (national and regional level). It is also well progressed in the collection on interesting experiences of financial instruments use by public authorities in partner regions.
The core issue of discussion had been how to better shape project activities and deliverables to address the needs of companies and especially SMEs (one of the central target group of the project) and support them in accessing private funds in the market, taking into account the specificities of the green sectors.
About the finMED project
At a time when the green transition is no more a choice but an imperative for the economic and social future well-being of people all around Europe, 15 public and private stakeholders from 9 different Mediterranean countries gathered together in an ambitious four-years project titled “finMED - Boosting the financing of innovation for green growth sectors through innovative clusters services in the MED area”, funded by the Interreg MED Programme.
It integrates efforts, practices and actions among different kind of actors, enforcing the idea that green growth is a win-win viable strategy for the future of citizens, private sectors, investors and financers, and it must be sustained with proper financing practices. Boost the financing of innovation in green growth sectors through improved delivery of policies and strategies and the introduction of innovative cluster and business support services are quoted as main objectives of this far-reaching project.
The project has a duration of 48 months (February 2018 - January 2022) and a total budget of 4.3 M €.