European project Finance4SocialChange
Strengthening funding opportunities for social enterprises in the Danube region
Social innovation and social entrepreneurship concept have become increasingly relevant in today’s economic setting. At the same time, public funds in many countries are under pressure.
Social enterprises are struggling to find the right funding opportunities due to a lack of understanding of their functioning and their small size but also due to a lack of “blended” financial instruments, which would complement non-repayable grants with new forms of finance - such as venture capital, equity, impact investments microcredit or fundraising. The Danube region currently lags behind global trends in the field of social entrepreneurship and social impact investments (EVPA Annual Survey, 2016).
The project Finance4SocialChange aims at stimulating access to innovative financing tools and instruments and enabling the creation of a business environment that helps social entrepreneurs create more viable and scaling companies in the Danube region.
Together with its 13 partners, S2i will carry out various activities including the development of the first “Social Impact Investment Strategy for the Danube region”, the delivery of 130 hours of “blended” learning experiences via the “Social Impact Investment Transnational Design Academy”, the launch of the first “Business Plan Competition” warm-up 2-stage investment ready competition and mentoring services to scaling up social enterprises.
The project is part of the INTERREG Danube program and is coordinated by IFKA Public Benefit Non-Profit Ltd. for the Development of Industry. It is co-funded by European Union funds (ERDF, IPA, ENI) for a total budget of 2.01 Mio Euro.
Project duration: 07/2018 – 06/2021
Participating countries: Austria, Bulgaria, Croatia, Germany, Hungary, Moldova, Romania, Serbia, Slovakia, Slovenia, Ukraine