The EVCA and its partners want more Horizon 2020 research and innovation funds to reach small businesses in Europe. Horizon 2020 is a European Commission programme.
The European venture capital industry invests in high-growth SMEs, which create jobs and innovative products.
Where job creation occurs in SMEs, it comes from a small minority of high-growth companies. More than half of new jobs created in the UK from 2006-2009 came from six percent of the firms.
Because of this, policy intervention for SMEs should target those with high-growth potential rather than general business support for all SMEs, the majority of which lack the ambition to grow.
The EVCA held a joint reception in the European Parliament with EBAN, EUROCHAMBRES UEAPME and TAFTIE, who represent business leaders, venture capitalists, business angels and innovation agencies.
The event was attended by European Commission officials and members of the European Parliament, including Graça Carvalho the lead MEP on Horizon 2020 (pictured below with myself to her left).
The EVCA and its partners want an increase in the percentage of the total Horizon 2020 budget devoted to SMEs from 15 percent to 20 percent.
They also highlighted the need for the SME Dedicated Instrument which will be part of Horizon 2020 to have a clearly defined and ear-marked budget, as well as a specific management structure and streamlined procedures to facilitate the participation of a high number and diverse range of smaller businesses.
The EVCA and its partners are concerned that, as the Commission’s Horizon 2020 text currently currently stands, the SME dedicated research and innovation measures are less visible than under the on-going FP7 Programme. In particular, the financial allocation remains ambiguous.
You can learn about our partners below.
EBAN brings together more than 100 member organisations in 28 countries today. Through direct and indirect membership, EBAN reaches out to 20.000 early stage investors.
EUROCHAMBRES – The Association of European Chambers of Commerce and Industry represents over 20 million enterprises in Europe – 93% of which are SMEs – through members in 45 countries and a European network of 2000 regional and local Chambers.
UEAPME is the employers’ organisation representing exclusively crafts, trades and SMEs from the EU and accession countries at European level. UEAPME has 80 member organisations covering over 12 million enterprises with 55 million employees.
TAFTIE is the European Association of leading national innovation agencies.