The following recommendation can help companies and public institutions to find an alternative funding model which is especially oriented towards SMEs and offers practical and workable solutions by combining different modalities and support in the process of Innovation.

Oséo (France)

The French publicly funded organisation Oséo takes its name from word oser, which means "to take a risk". The institution helps to support and finance Innovation initiatives and has had a huge impact since it was set up in 2005. Oséo finances and helps French micro companies and SMEs at the most important stages of their development whilst seeking solutions which are suited to the needs of these dynamic companies when the market does not meet their precise requirements. As such, the institution’s key role is to ensure continuity in the way that projects are financed, whilst helping SMEs to innovate and grow. Its three main areas of activity are: support for innovation; and guaranteeing of bank financing and operations with stockholders’ equity, as well as financing of investments and operating cycles in partnership with banks. The services offered by Oséo in providing solutions for financing, and at the same time offering support to SMEs in the process of innovation, have been very well received by the French business sector.

Agents required for implementation

This recommendation could provide a model of financing for large companies who wish to contribute to innovation whilst also being of interest to large groups of companies. In addition, it is also especially relevant to intermediate bodies, and could easily be applied at a regional level. Companies could suggest that Public Authorities set up similar funding models.

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1. http://www.oseo.fr/ - Oséo (Nord-Pas de Calais).
2. http://www.oseo.fr/notre_mission/qui_sommes_nous/nos_metiers/innovation - Oséo (Nord-Pas de Calais).
3. http://www.oseo.fr/notre_mission/qui_sommes_nous/nos_metiers/financement_garantie - Oséo (Nord-Pas de Calais).