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!