Refundable funding

For those who need financing for their enterprise or projects we have launched a set of Refundable Funds, managed under market conditions, aiming to fill the deficiencies of financial system in terms of resources availability, thus allowing the implementation of good Andalusian business ideas that may lack from the adequate economic and financial support.

The Regional Government of Andalusia, aware of the new and demanding challenges that our region is about to face in the EU framework as new "convergence region", as well as the convenience of a changing our productive model, launched in 2008 a pilot experience with the JEREMIE PROGRAM, cofinanced by FEDER, whose results are being remarkable at the regional, national and European level.

Since then, Andalusian Regional Government is committed with repayable funds, creating new ones within the same framework of philosophy even with self-financing resources, with the final aim to make these resources available for enterprises. These funds, being refundable, will be sustainable in the future.

Refundable funding managed by IDEA Agency, embodied within the constitution of the funds, is characterized by three main features:

  • It is, in fact, refundable, which means investing in viable projects that allows the return of our contribution in the shortest possible term.
  • It is flexible, so that it fits to the specifics circumstances of the projects submitted. The current regulation establishes the necessary management of these funds under "market conditions": costs, schedule, guarantees, etc.
  • It completes financing rounds. It does not assume the leadership of project. It tries to fill gaps of financial system in terms of resources availability.

These funds are:

  • Guarantees
  • Business Development Support
  • Sustainable Economy
  • Technological Entrepreneurs
  • Fund for University Entrepreneurial Culture
  • Creation of Productive Spaces
  • EIB Financial Support
  • Promotion of Renewable Energy and Energy Efficiency
  • Jeremie Fund
  • Financial Restructuring of Enterprises

Additionally, IDEA Agency participates, as Collaborator Entity, in managing of Cultural Industries Support Fund, which acts under the same philosophy and operative; as well as in Fund for the Internationalization Support of Andalusian Economy and the Support for SMEs from Tourism and commercial sectors Fund.

LIST OF APPROVED PROJECTS (from now on, you will continue to browse this site in Spanish. For any further information, please contact us at the following email address: inversiones@agenciaidea.es)

 

The Guarantee Fund for Small and Medium Enterprises is made of a 100 % resources from Andalusian Regional Government, having a budget of 20 million Euros. It addresses to self-employed entrepreneurs and SMEs, micro preferably, under any legal form for profit, excluding the ones constituted under civil law and condominiums communities.

The fund does not have sectorial vocation, so for this purposes, all sectors shall be considered as preferred. The investment made by the fund will be between 20,000 euros and 200,000 thousand euros per company.

Depending on the purpose of the guarantee granted by the fund, the duration of the action will reach up to 7 years for operations that finance investments and technical guarantees, and up to 3 years for operations that finance current assets.

The amount approved for operations would cover up to 100 % of financial needs raised by the applicant. IDEA Agency has come to agreements with mutual guarantee companies, such as SURAVAL an AVALUNION that have committed their participation, as Collaborator Entities, for managing this fund. Those interested in obtaining more information can address to them in order to be informed about additional details.

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The Business Development Support Fund is constituted by 100 % Andalusian Regional Government financial resources and has a budget of 223 million Euros it addresses to all types of viable enterprises, excluding individual entrepreneurs, companies constituted under civil law and condominiums communities.

Eligible projects must have strong vocation for growth and "global" validity in terms of both their value proposal and their business model. Business consolidation is intended for key sectors of Andalusian economic development, from traditional to the ones undergoing industrial restructuring or from strategic fields.

The investment made by the Fund will rise from 200.000 up to 10 million Euros and will be implemented by using any of other financial instruments recognised in daily commercial business life. In particular, guarantees, ordinary loans, equity loans and minority or temporary participation from shareholders in enterprises' equity.

The maximum period for returning the obtained funding will be up to 10 years.

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The Trade Promotion Agency of Andalusia, EXTENDA, is the instrument of the Andalusian Regional Government for the implementation of internationalization policies concerning Andalusian regional economy. Extenda provides specialized support to enterprises that take out actions of internationalization, either when they are initiating the process, or consolidating their international position. Enterprises can have EXTENDA support all along their processes of internationalization, support for which four phases are considered: assessment, activation, growth and consolidation.

Through this Fund (with endowment budget of 30 million Euros), EXTENDA develops the program of international consolidation for Andalusian enterprises, aiming to support the financing and elaboration of business plans to boost and consolidate entrepreneurial projects of internationalization. Such plans may include investment activities and operations of international capital.

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The strong commitment of the Andalusian Regional Government to bring finance to Andalusian enterprises, becomes a reality pursuant to articles 4 and 7 of Additional Provision of Law 3/2008, of 23 December, approving the of the Budgets of Andalusian Autonomous Community of Andalusia for 2009, creating this particular Fund, whose priority aims are to avoid widespread credit crunch - which since late 2008 has affected the regional economy and specifically tourism and trade sectors-, contributing effectively to the maintenance and creation of employment and finally, to help entrepreneurs of tourism and commercial sectors to star up their businesses

Initially this fund of refundable nature was created to serve exclusively investment costs, but later and due to the demands of the sector, the funding line was expanded to finance the working capital of enterprises, offering to the enterprises the possibility to cover with this funds investments being initiated more than six months before the submission of the application.

Initially this fund of refundable nature was created to serve exclusively investment costs, but later and due to the demands of the sector, the funding line was expanded to finance the working capital of enterprises, offering to the enterprises the possibility to cover with this funds investments being initiated more than six months before the submission of the application.

According to Decree 99/2009, the Fund is attached to the Regional Ministry of Tourism, Trade and Sport (currently Regional Ministry of Tourism and Commerce), and the public entity "Empresa Pública para la Gestión del Turismo y Deporte de Andalucía, S.A.", designated as entity responsible for the management of the Fund.

This Fund aims to provide funding to viable technically and financially companies, submitting projects related to tourism and/or commercial activities, consistent with policies developed by Tourism and Trade Regional Ministry. In general, any project that effectively contributes to the creation, modernization, improved competitiveness, better management and quality of service, the incorporation of new technologies, and the renewal of activity and to adjustment of structure to the environment, shall be eligible.

Any viable enterprise will be able to be recipient of financial instruments from the Fund, being required in all circumstances for the enterprise being an organization of material and human resources for-profit fitting the following requirements:

  • Enterprises can take any legal form, including self-employment, with the exception of civil societies and community property. Any company SMEs or not SMEs can receive finance from this Fund. Companies in process of creation can submit applications, as long as they provide valid certificate of the company name, having to meet the requirements of incorporation of the company with the formalization of operations.
  • Enterprises shall be established or operating in Andalusia, or will have operational establishment in Andalusia under the project to be financed.
  • Enterprises must demonstrate its status, in meeting their tax obligations and social security. In those cases in which the enterprise undertaking of the Fund could have outstanding debts, tax origin or derived from its obligations to Social Security , the financial instrument approved by the Fund may not be formalized until occurs, prior , full compliance with those obligations.
  • Enterprises in difficulties cannot receive finance from the Fund, understanding for these firms in difficulties those at the time of study of the operation, is unableby its own or with the grant or they can provide their shareholders or creditors, to stem losses which would, in the absence of resources intervention exterior, its economic demise in the medium or short term. This concept does not apply to start-ups or not older than three years companies.
  • Enterprises may not be held more than 25% by an administration or public agency.
  • The Fund cannot serve for companies with tax residence in a country or territory, qualified in due form as tax haven, or for companies held by others with headquarters in a tax haven country.
  • Companies should engage, habitually and for profit, to the provision of any tourist or commercial service, in accordance with the provisions of article 24 of Decree 99/2009.

Financial instruments that may be approved by the Fund will loans, credits and granting guarantees, being the operations approved by the Fund under market conditions, and in no case be considered as grants or state aids.

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The Sustainable Economy Fund aims to facilitate financing, preferably for micro entrepreneurial initiatives addressed to those special projects that contribute to the achievement of social, economic or environmental sustainability objectives, as well as the creation or maintenance of employment in Andalusia.

With a budget of 50 million Euros, the Fund will support, preferably, projects dedicated to:

  • Improving economic sustainability by supporting innovation and entrepreneurial initiatives.
  • Strengthening environmental sustainability through more efficient use of the natural resources through the implementation of environmental management system improvements in the use of water and raw materials in industry as well as waste management.
  • Promoting social sustainability through projects for social integration of disadvantaged groups, as well as through projects that improve safety conditions at work.

The investment made by the Fund will be between 20.000 and a maximum of 200.000 Euros, and will be implemented through the form of an ordinary loan. The deadline to return the funds will be up to 7 years.

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The Fund for Technological Entrepreneurs (with a budget of 19,3 million Euros) is intended to address the economic coverage in case of high potential innovative and technological enterprises financing , with the aim of fostering entrepreneurship and to promoting the creation and consolidation of new technology companies in Andalusia.

The recipients of this Fund will be entrepreneurs and enterprises with a business plan aimed at launching, growth and expansion of an innovative and/or technological enterprise at its earliest stages (seed or start up phases), with high growth potential, with new products or services for its introduction into global markets, operating primarily in high-tech industries and emerging sectors.

Projects financed by this Fund will be useful to encourage entrepreneurship and promote the attraction, promotion and consolidation of technology enterprises. Especially those relating to:

  • Develop new productive activities and services based on new technologies and specialized knowledge.
  • Operating in high–tech and emerging industrial sectors (biotechnology, genetics, ICT, robotics, intelligent communication networks, advanced materials, etc.).
  • Turning technological knowledge into new products or processes.
  • Implementing patents, licenses or other forms of specialized or technological knowledge.

The investment made by the Fund will be between 150.000 and 1,5 million Euros and will be implemented either as a shareholder loan or as a minority and temporary holding in capital of companies. The deadline to return the funds will be up to 8 years.

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The JEREMIE "Joint European Resources for Micro to Medium Enterprises" initiative, has been developed together by the European Commission and the EIF, with the intention of finance operations that contribute to facilitate the creation of financial engineering instruments for enterprises, such as venture, guarantee or credit capital funds, in accordance with Article 44 of Council Regulation (EC) No. 1083/2006 and Commission Regulation (EC) No. 1828/2006.

The FINAL AIM of this initiative is to foster economic development of the region, promoting the creation and competitiveness of micro, small and medium Andalusian enterprises. Its budget is up to 246 million Euros.

Investment Strategy

  • Creating Leading Enterprises within the Andalusian key sectors.
  • Investment in companies with high growth potential and competitive advantages to become "global leaders".
  • Reinforcing financial structures to facilitate international expansion for Andalusian enterprises.

Operating objectives

  • Catalysing change of productive model in Andalusia towards a sustainable economy.
  • Enhance productivity and competitiveness face to needs of globalization.
  • Creating a multiplier effect on the investment.
  • Developing human capital of Andalusian enterprises and offering a professional development for a qualified talent.

Financial Instruments

  • • Jeremie Fund multistaff: Society for Promoting economic restructuring and Andalusia, SOPREA, SA (intermediary).
  • • Jeremie-Andalucía Venture Capital Fund: Investment and Development of risk capital of Andalusia, SGECR, SAU (intermediate).
  • • ICT FCR Axon II Simplified Reg. SGEC: Axon Capital and Investment, R, SA (intermediary).
  • • Al Andalus Capital FCR: Alta Capital, SGEC, R, SA (intermediary).
  • • Avindia Seed Capital Fund II FCR: Avindia Capital SGEC, R, SA (intermediary).

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The Fund aiming at promoting the creation of Productive Spaces has endowment budget of 50 million Euros and will go to viable projects within the framework of two areas of action:

  1. The industrial and tertiary soil generation or classification, excluding those soils with main commercial use.
  2. The building generation or classification primarily for industrial or services use, excluding those with main commercial use.

The classification actions should be understood as interventions aiming at improving spaces, buildings and equipment, through rehabilitation or reinforcing their building capacities.

The Fund will support, preferably, projects able to:

  • Qualify with equipment (energy, ICT, security, water purification, etc...) and competitive services to soils and already existing buildings.
  • Provide soil or ceiling with competitive allocations for effective non-satisfied demand, promoting facilities and spaces with a relevant economic role for supra-local areas.
  • Strengthen areas of greatest interest for development of strategic sectors prioritized by the Andalusian Regional Government.
  • Provoke catalysing effects on the rehabilitation of traditional productive areas.

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This fund is currently closed.

The EIB's Financing Line (European Investment Bank) is meant for feasible business projects, with sufficient financial guarantees, and it is addressed to make investments in:

  1. Acquisition, renovation or extension of tangible assets (except for the acquisition of plots).
  2. Acquisition of intangible assets, which will include, among others, costs of development, planning and financing during the construction phase and expenses on research and development (R&D).
  3. Permanent needs of current capital associated with every project.

The beneficiaries will be SMEs with place of business and head office in Andalusia. Beneficiaries SMEs will be able to fulfil this "link to the territory" requirement by virtue of the project financed by the Fund throughout the processing period of the corresponding file.

The EIB's Financing Line has an endowment of fifty million Euros (EUR 50,000,000) and this is included in the financing agreement signed between this financial institution and the IDEA Agency on May 29th, 2012. This line is addressed to support investments projects developed by Small and Medium independent enterprises (SMEs), fulfilling the above-mentioned eligibility criteria and others.

The EIB, created in 1958 by the Treaty of Rome, is the Financial Institution of the European Union. Its mission lies on the financing of investments fostering economic integration and social cohesion among Member States. The financing obtained from this line provides favourable conditions with regards to alternative credit sources, allowing IDEA Agency to offer a financial advantage for the related projects.

The maximum investment amount for transactions within this Line is 3 million Euros and it will be executed by means of an ordinary loan (except for those considered strategic for the development of Andalusia). The deadline to refund the obtained financing will not be, in any case, lower than two years, nor higher than the very economic and technical duration of the financed project.

 

The Agency for Innovation and Development of Andalusia has signed a collaboration agreement with the Andalusian Agency for Cultural Institutions for the provision of financial services Support Fund Cultural Industries. With an endowment of 10 million Euros, this fund aims to facilitate the financing of the productive activity of cultural industries enterprises. This financing will include investments and current capital transactions, but it will not include passive refunding of bank nature, the debts with partners and administrators and the transactions of capital outflow.

Within the cultural industries, they are considered the enterprises, under any legal form, and the self-employed people, being in any case mandatory to constitute a profit organisation with material and human resources. In both cases, they have to carry out activities of creation, production, distribution or commercialization of cultural products and services as follows:

  1. Cinematography, audio-visual arts, multimedia and the industry of digital contents.
  2. Scenic and musical arts and the spectacle's techniques.
  3. The "flamenco".
  4. Plastic arts, design, fashion and architecture.
  5. Literary and phonographic editions, in any support or format.
  6. Industries related to the research, conservation, recovery, spreading and promotion of the historical heritage and the socio-cultural activities.
  7. Any other manifestation of cultural character included within the scope of competences of the Ministry of Culture of the Regional Government of Andalusia.

The applicants are obliged to have place of business or operational centers in Andalusia. They will also be considered as beneficiaries those enterprises intending to settle their place of business or an operational center in Andalusia by virtue of the project financed by the Fund.

The beneficiaries cannot be shared in more than a 25 % by an administration or public entity.

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The Fund fostering renewable energies and energy efficiency will finance (with an endowment of 90 million Euros) actions in the field of renewable energies and energy efficiency preferably supporting the following types of projects:

  1. The improvement of the energy efficiency in productive processes or equipment.
  2. The reduction of the energy consumption in buildings and their facilities.
  3. The energy saving in passengers or goods transport fleets, including investments in technological systems and applications.
  4. The generation and use of thermal energy by means of renewable energy plants.
  5. The systems of cogeneration and tri-generation and the facilities for the thermal wastes usage.
  6. The projects presented by enterprises of energy related services.

The amount of investment in the frame of this Fund will reach between 20,000 and 2 million Euros. These investments will be concluded by means of endorsements and guarantees and ordinary loans. The deadline to refund the obtained financing will not be, in any case, higher than 10 years.

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