Areas Specific Objective / Results / Targets Target Group Targeting Principles Allocation Annual amount • SO(2.1) To increase the invested in Venture amount of finance Capital and Expansion available to SMEs for both Capital (British Venture business start-up and for Capital Association business expansion data): WW&V target: WW&V = £54,854,613 SMEs in Alignment with Welsh Government increase from £18m programme area targeting approaches (e.g. support for to £26-£27m a year EW = £8,621,299 unable to access economically important and growth other forms of sectors, including those that have exhibited EW Target: increase repayable finance high growth in the past). from £18m to (e.g. commercially a year available). Expectation of use of repayable finance. All Wales [Includes a ring-fenced Financial support will primarily be focussed allocation under on providing debt, equity and mezzanine SO(2.5) To address Annual Early stage • SO(2.5) for finance for finance. market failures in the equity investment innovative SMEs to (British Venture Capital availability of finance, in undertake innovation Should be directly linked to other forms of Association data): particular risk capital, for and commercialise business support (as part of package of Welsh SMEs to undertake R&D] tailored support) in order to get the WW&V target: innovation and greatest impact from investments. increase from £9m to commercialise R&D £12-£16m a year EW Target: increase WW&V = £15,899,136 from £9m to a year EW = £2,606,591 ERDF Priority 2: SME Competitiveness WW&V: ERDF allocation EW: ERDF allocation £166,394,723 £31,896,377
Areas Specific Objective / Allocation Results / Targets Target Group Targeting Principles All Wales SO(2.1) To increase the amount of finance available to SMEs for both business start-up and for business expansion WW&V = £54,854,613 EW = £8,621,299 SO(2.5) To address market failures in the availability of finance, in particular risk capital, for Welsh SMEs to undertake innovation and commercialise R&D WW&V = £15,899,136 EW = £2,606,591 • Annual amount invested in Venture Capital and Expansion Capital (British Venture Capital Association data): WW&V target: increase from £18m to £26-£27m a year EW Target: increase from £18m to a year • Annual Early stage equity investment (British Venture Capital Association data): WW&V target: increase from £9m to £12-£16m a year EW Target: increase from £9m to a year SMEs in programme area unable to access other forms of repayable finance (e.g. commercially available). [Includes a ring-fenced allocation under SO(2.5) for finance for innovative SMEs to undertake innovation and commercialise R&D] Alignment with Welsh Government targeting approaches (e.g. support for economically important and growth sectors, including those that have exhibited high growth in the past). Expectation of use of repayable finance. Financial support will primarily be focussed on providing debt, equity and mezzanine finance. Should be directly linked to other forms of business support (as part of package of tailored support) in order to get the greatest impact from investments. ERDF Priority 2: SME Competitiveness WW&V: ERDF allocation £166,394,723 EW: ERDF allocation £31,896,377
Wefo_Summary_of_Structural_Funds.docx