FFWD Fast Forward Europe is an initiative supported under the INTERREG EUROPE Programme that is designed to ensure competitiveness of small and medium-sized enterprises (abbreviated as SMEs).
FFWD Fast Forward Europe is an initiative supported under the INTERREG EUROPE Programme that is designed to ensure competitiveness of small and medium-sized enterprises (abbreviated as SMEs) through a) access to private funding and equity; b) international markets opportunities and c) new business contacts all over Europe.
The project aims to improve policy instruments within the Operational Programmes of 8 EU Member States such as France, Denmark, Poland, Hungary, Spain, Germany, Italy and Lithuania that enable SMEs to participate in public-supported acceleration programmes.
- The project is delivering comprehensive solutions in 3 thematic areas, namely:
- “Acceleration models” focusing on the business acceleration programmes established in some partners regions. Partners will share experience in order to improve the existing models and in order to help importing regions to implement such programmes,
- “Access to finance” delivering regional strategies to give the SMEs the opportunity to access public funding but also on the strategies used to help them to access private funding,
- “Internationalization of SMEs” through providing SMEs better access to new markets.
By the end of the project, FFWD partners will provide 40.000.000 EUR from Growth and Jobs or ETC funding implementing new initiatives to support of the effectiveness of the policy instruments addressed. Based on these result indicators Fast Forward Europe will enable 200 entrepreneurs or SMEs to take part in new or improved acceleration programmes, another 2 cooperation agreements with European or regional partners concerning support of entrepreneurs as well as the increase of beneficiaries finding a job within 6 months after the end of the intervention.
Within the project, IFKA Public Benefit Non Profit Ltd. for the Development of the Industry will improve the Hungarian policy instrument “NSO 2.2 Development of the competitiveness of enterprises having no/not sufficient access to funding sources through improved access of enterprises to external” funding within the EDIOP Economic Development and Innovation Operational Programme, Investment Priority 4. As the current policy instrument is only setting directions on what to achieve as a final outcome (increase of net revenues of SME sales), but provides no tailored development pathway to better improve the capacity of enterprises to exhibit external financing opportunities. Consequently, enterprises should be provided by assistance on getting engaged in acceleration services, access to finance as well as the internationalization aspects of enterprises. Deep dive in interregional good policy making practices will contribute to this process.