EU and seek to facilitate access to public funds

EU and seek to facilitate access to public funds

The European Union, through the European Institute of Innovation and Technology (EIT Digital), will develop with the Spanish and the Italian GFT and SIA a pioneering platform to facilitate access to public funds , the Finance4Hope spin-off. The objective of this initiative is to be a leader in the European market for the management and processing of public aid, so that Community support for SMEs reaches beneficiaries in member countries. EIT Digital will hold a 25% stake in Finance4Hope, a new 100% European DNA fintech that will initially focus on Spain, Italy, Greece, Portugal and Poland. This is an important step, as it is the first time that EIT Digital has committed to investing in a smart aid management platform., based in Valencia and part of the LocalEurope group, will play a very important role in this new platform, to which he will bring his vast experience in the management of European aid. Indeed, recently, the company entered into a strategic agreement with Santander and KPMG to launch a comprehensive information service on access to public aid, for both clients and non-clients. Its objective will now be to take the step towards the rest of the European Union after having operated with its web tool on the national market with clients such as Cajamar, Banco Cooperativo or Bankia.

Thus, with the proposal, Europe will seek to make aid more accessible to a greater number of beneficiaries, by shortening resolution times, eliminating administrative obstacles and facilitating the entry of other donors. funds in grant operations.

The amount of funds to be managed will be very large and will involve an unprecedented administrative effort, which, only in Spain, will mean the challenge of managing 100,000 million euros in the next three years. At a key time when the EU will invest € 1.85 trillion in the development of transformative and digitization projects over the next seven years, technology aspires to become a key ally of companies and organizations that aspire to achieve public funding for the development of their projects.

Finance4Hope objective, guarantee access to financing

In the words of the founder of and LocalEurope, Francisco Estevan: “This agreement allows us to consolidate our leading position in the national market, while placing us in an unbeatable position to implement our services in other EU countries. country’ ‘. The project with EIT Digital, which aims to launch the platform in five EU countries in 2021, will allow the Valencian platform to offer its aid identification services to the public and private sectors. ” We are already negotiating agreements with financial entities in Greece and Italy, as well as with regional and national administrations in Spain and Portugal. In addition, in the coming months, we will be launching an improved version, in a cloud environment, which will allow us to deploy services more quickly, ”said Estevan.

With this initiative, Finance4Hope partners set themselves the main objective of significantly increasing the number of companies accessing public financing and not losing projects due to possible financial problems. In this sense, Estevan underlined: “What is innovative in our proposal, in addition to the platform itself, are its developments to calculate, for example, which aids are the most suitable according to the profile of each company. This way of working is fundamental in our business model: we integrate ourselves with banks so that they offer relational financing with managed aid ”.

Thus, the participants of the new platform will invest 60% of EU resources in new development and R&D, and the remaining 40% in its commercialization and integration in each of the countries selected in this first phase of execution. In this sense, Ignacio Cea, Finance4Hope advisor and head of the R&D project, underlined the platform’s growth potential: “ Addressing a European-scale project involves rethinking a lot of things around the current platform, both technical and operational. For us, this project represents a great opportunity to build a new cloud-based platform, simpler, more automatic and with the ability to analyze much more data. ”

Observatory of public aid

Transparency is one of Finance4Hope’s commitments vis-à-vis the European Union, which will result in the publication of a biannual report on the functioning of the management of public aid. Since the platform will also serve as an information and management window for public administrations, mainly regional, data management to structure information on the most requested grants, the types of companies that obtain them or the difficulties that meet with beneficiaries to access them. be very common.

” We believe that there is a lot of room for improvement in the management of public aid by administrations, which is why we have designed an environment for them, which will allow them to offer and manage their aid from efficient and transparent way, ” stressed Elena Femenía, CEO of LocalEurope, who continues: “ Our solution is already implemented in municipalities, councils and regions, but with this agreement with the EU we will have more data available and, as a result, we will be able to improve the design of our services in record time. ”

Thus, this project, which will organize an investment round in the first quarter of 2022 to consolidate its international expansion and consolidate its technological alliances across the EU, plans to launch its first observatory report in December of this year.

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