Best Practise Projects – The Best Practise Projects – The experience of Agencia IDEA in funding experience of Agencia IDEA in funding

SMEs with the support of the ERDF SMEs with the support of the ERDF and EIF.and EIF.

Juan Callejón Juan Callejón www.agenciaidea.es

Brussels, 12 th June 2006Brussels, 12 th June 2006

Autonomous Region of AndalusiaAutonomous Region of Andalusia

• Andalusian area: 87.268 m2 (17,3% of Spain; 2% of EU )

• The population is 7,8 M of inhabitants

• 500.000 and 700.000 live in the cities of Malaga and Seville respectively, in the East and West region.

• 8 administrative provinces: Almería, Cádiz, Córdoba, Granada, Huelva, Jaén, Málaga and Seville (capital city)

The AGENCIA IDEA

It is the Regional Development Agency of Andalusia Regional Government

A 1987 law aproved by the Andalusia Parliament created the former “Instituto de Fomento de Andalucía (IFA, the RDA)”.

Since 2004:

it is attached to the Regional Ministry of Innovation, Science and Enterprise

it is called Agencia de Innovación y Desarrollo de Andalucía (IDEA)

main goals of AGENCIA IDEA are supported on innovation  

The experiences of AGENCIA IDEA with the EIF

• Micro-credit to young entrepreneurs, 21 M€ of participative loans being allocated at to date.

• Guarantees for loans• Promotion of Capital Risk societies • Creation of Venture Capital Funds• Creation of INVERCARIA• Capital Risk projects: CAMPUS scheme

1st Assignment of EIF: Promotion of Capital Risk Associations

INVERJAEN SCR, S.A• Capital: 7.981.439 €• Share holders: AGENCIA IDEA (18,9 %); Local

Institutions (27, 76%); Financial institutions (45,56%); Others.

INICIATIVAS ECONÓMICAS DE ALMERÍA SCR, S.A• Capital: 3.882.537 €• Share holders: AGENCIA IDEA (23,22%);Financial

institutions (41,2 %); Local entities (18,73%); Others.

1st Assignment of EIF: VENTURE CAPITAL FUNDS

• ANDALUCIA XXI (18 M€)

• ANDALUCIA CAPITAL DESARROLLO (36 M€)

• GED IBERIA GESTION (50 M€, under constitution)

1999: Constitution of Andalucía 21, a partnership with the Andalusia saving banks.

Total Funds: 18 M€Private managementRegional coverageAGENCIA IDEA/ ERDF: 9 M€ Andalusia saving banks: 9 M€Invested : 15.735 M€Number of projects: 9

ANDALUCIA XXI (ERDF – Financial institutions )

ANDALUCIA CAPITAL DESARROLLO (EIF – ERDF Co-investment)

2002. Constitution of Andalucía Capital Desarrollo.

Total Funds: 36 M€Private managementRegional coverageAGENCIA IDEA / ERDF: 4 M€EIF: 12,5 M€Raising of 20 M€ (Financial institutions plus

others)Invested: 15,25 M€Number of projects: 5

GED IBERIA SUR (EIF – ERDF Co-investment)

During 2006, Constitution of GED IBERIA SUR.

Target size: 50 M€Private managementInterregional coverage (Andalusia, Extremadura and South Portugal)AGENCIA IDEA / ERDF: 12 M€EIF: (> 7 M€)Foreseen raising of 30 M€ (Financial institutions plus others)

MISSION

VALUES

Contribution to economic growth of Andalusia by providing the financing for the creation, consolidation and expansion of entrepreneurial projects, which can demonstrate economical, financial and technological viability with special respect to innovation.

• Highly skilled Professionals with background in investment banking, strategy consulting and auditing

• Collaboration with independent experts

• Agility and independence in analysis

• Established network with other financial institutions and funds

• Independent board of directors

INVERCARIA is a public company, 100% owned by the Andalusian Ministry of Innovation, Science and Enterprise, with the objective to promote and develop instruments to assure financing of enterprises in Andalusia.

2nd Assignment of EIF: Creation of INVERCARIA

AGENCIA IDEA do Capital Risk projects: CAMPUS initiative

Creation of Technology based companies coming from University Spin off financed with participative loans

Objectives:• Conversion of research result to product and services• Demonstration effect for business creation

AGENCIA DE INNOVACIÓN Y

DESARROLLO DE ANDALUCÍA

INVERCARIA

UNIVERSITES ANDALOUSES

ENTREPRISE DE BASE

TECHNOLOGIQUE (E.B.T)

ANNULATION SANS RESPONSABILITE POUR L’ENTITE

COLLABORATRICE

Prêts d’honneur

Prise de participation au capital ou prêt

participatif

Envoi de l’information

Tutelle et suivi

Nominal plus 20 % des plus-values

CAMPUS FINANCING SCHEME

SUCCESOUI

NON

Nominal plus 80 % des plus-values

Thank you very muchThank you very much

Agencia de Innovación y Desarrollo de AndalucíaAgencia de Innovación y Desarrollo de AndalucíaIDEAIDEA

www.agenciaidea.eswww.agenciaidea.es