Creating a system facilitating investment in SMEs Innovative Economy Operational Programme

SUPPORT MECHANISM:

Facilitating the purchase of consultancy services for entrepreneurs in order to prepare the proper documentation and analysis that are necessary to attract outside investors.

Policy immediate target(s): SMEs

IMPLEMENTING AGENCIES:

Designed by PARP – Polska Agencja Rozwoju Przedsiębiorczości [Polish Agency for Enterprise Development]

Timeline:

Fixed-term program from the SME implemented between 2011-2015 in 8 rounds.

MONITORING + EVALUATION METHODS

The program assumed three basic indicators that will measure the success of the program:

  • Employment
  • Financial results
  • The perception of the impact of the OPIE on the economic situation of the company
RESULTS:

In 2015 there was the evaluation survey on this program carried out. The results of it are shown below.

The average value of grants in Measure 3.3.2 amounted to 137 228.4 PLN (34 307.00 EUR).

85% of survey respondents claimed that they obtained the needed expertise and they were of good quality.

66% of the donated companies had acquired an external investor. 44% of respondents obtain financing from new investor at the total amount of 1 mln PLN (250 000 EUR), 40% - amount from 1 to 10 mln PLN (250 000 EUR – 2,5 mln EUR), and 17% gain more than 10 mln PLN thanks to the expertise and documentation funded thanks to this program. 

CHALLENGES + LESSONS TO DATE:

According to ‘Barometr Innowacyjności, Ewaluacja on-going Poodziałania 3.3.2 PO IG’ [Evaluation Report on action 3.3.2 IE OP) the following data were gathered:

64% of respondents assessed the all organization of receiving and assessing applications for funding as good or very good.

61% of respondents claimed that the formal operation activities during the project were very expensive.

45% of survey companies complained about the delay in the schedule of the Program.

36% of companies indicate the delay in payments from government.

None of the respondents objected to the stage of receiving and assessing applications for funding.

According to the respondents following aspects could be improved and changed in the future:

  • Additional services should be also funded (such as PR and advertisement and costs of IPO),
  • Better communication between beneficiary and government institution,
  • Simplification of the procedures,
  • Faster assessment of applications.
NOTES + ADDITIONAL CONTEXT:

Background of policy

The key role of the Innovative Economy Operational Programme is to support the development of innovative companies and the competitiveness of the Polish economy. Within the IE OP the innovative projects at the national or international level were supported. The supported projects were supposed to be mainly associated with the use of new technology, product, service or organization.

The purpose of the program was to facilitate access to finance innovative projects undertaken by small and medium-sized enterprises (SMEs). Under the OP IE there were undertaken promotional activities for the economy, export and strengthen the image of Poland as a country attractive for investors.

The program was intended to encourage companies to conduct research and development activities, transfer of solutions from science to business, as well as between enterprises, purchasing and implementation of the results of R+D.

Within the actions implemented by PARP under OP IE both entrepreneurs and business environment institutions could benefit.

 

Private sector implementing partners, or other involvement

Polish Agency for Enterprise Development (PARP) conducted on 27 September and 9 October 2006 the public consultation, during which the assumptions of the Operational Programme Innovative Economy (IE OP) were presented. Consultations were commissioned by the Ministry of Regional Development.

The aim of the public consultation was to obtain the opinion of potential final recipients on the various actions of the Operational Programme Innovative Economy 2007-2013. Recommendations and comments made during the consultation helped to better align provided support instruments to the needs of beneficiaries.