Towards the creation of a Regional Innovation Financing Instrument for the Mediterranean
Medibtikar (EuroMed Innovation and Technology Programme) is a European Commission funded programme launched in 2006. Its aim is to provide MEDA countries with new instruments designed to reinforce existing SMEs supporting structures in order to stimulate the innovation chain.
This conference follows on to a series of actions started in November 2007 for facilitating the access of Southern Mediterranean SMEs to appropriate and efficient sources of funding. Such a dynamic has already led to the creation of a first Business Angels network, which will officially be launched in October 2008, in Morocco. In the meantime, experts from the Medibtikar programme have conducted an inventory and a precise evaluation of the offer currently available in terms of support and financing for entrepreneurs in MEDA countries. These structures and mechanisms were presented in a guidebook (April 2008). Thanks to this census, a series of gaps were pointed at, in particular in the financing of early stages innovative enterprises. A series of recommendation have been formulated and shall be detailed during the event.
The conference will present -on the basis of an in depth diagnosis (available tools, gaps, deal flow), the work carried out by Medibtikar following the recommendations of a work group of actors in innovation and finance from across the Mediterranean (innovation intermediaries, venture capital funds, international organisations) gathered in Casablanca in May 2008. The objective of the day is to discuss with interested partners an action plan for setting up a financing and accompanying instrument for innovative start-ups of the Mediterranean countries.
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