Seed capital for start-up of innovative enterprises

• SK75 – seed capital – a convertible loan for start-up of innovative enterprises in the amount of 75,000 EUR
• SK200 – seed capital – direct capital investment for the growth of innovative enterprises in the amount of € 200,000 EUR

• convertible loan (optional loan)
• direct capital investment.

The product is designed for start-up enterprises with growth potential and consequently the potential of creating new jobs (focus are young technological enterprises), which are in this development phase especially vulnerable and are for successful start of business in urgent need of adequate financial resources and technical assistance in the implementation of their business processes.

The product is implemented on the principle of »SEF TWIN«, which means that the recipients of funds are in addition to the financial incentives also entitled to the substantive incentives (coaching programme).

• the creation of new SME’s in a manner that the holding fund (SEF) alone and/or together with private investors directly invests in the form of a convertible loan or in the form of direct capital investment in the initial development phase of the SME,
• the establishment of new enterprises and faster implementation of new technological achievements, inventions and patents into the economic exploitation (integration of scientific institutes, young researches, universities, inventors of the rural practice),
• the development of the initial concept of the business model of SME and the start up of the enterprise in the form of quasi-equity and/or mezzanine financing,
• networking of stakeholders, that form a successful ecosystem for the creation of successful enterprises (integration of existing infrastructure in the form of corporate and university incubators, technology parks, with successful entrepreneurs in terms of mentoring for emerging enterprises, business angels, etc,….

• micro and small enterprises, which are organized as companies or sole proprietors, who have at least 1 employee
• enterprises of certain age, determined in the public tender

• access to the necessary financial resources,
• faster and more intensive development of the project,
• improvement of the financial position and
• first market penetration,
• free pre-selection procedure before submitting the application,
• free complimentary substantive support programme (coaching for the recipients of the investment).

• all costs for the development of the enterprise and the successful transfer of development ideas of the enterprising individuals and groups into viable commercial undertakings and the creation of new innovation-oriented enterprises such as: development costs, salaries of employees working on the development and the cost of the management contract, promotion costs, costs of hiring equipment, costs for renting premises, costs of testing and additional training, tangible and intangible costs, which are aimed at developing services and products, …

• all the costs that are intended for the global growth of the company, the further development of products and services such as: development costs, salaries of employees working on the development or sales, income on management, promotion costs, costs of hiring equipment, costs for renting premises, costs of testing and additional training, tangible and intangible costs, which are aimed at developing services and products.

• for the individual enterprise in the amount of 75,000 EUR in form convertible loan,
•  for the individual enterprise in the amount of 200,000 EUR in form direct capital investment of the Fund.

This commission would evaluate enterprises primarily in terms of the criteria, which would have to be precisely defined in the public tender itself and in the tender documentation.