Since the beginning of the 2022 fiscal year, Generalitat, through the Institut Valencià de Finances (IVF), has approved a total of 22 operations aimed at promoting entrepreneurship and supporting initiatives in the Valencian Community. a total of 7.3 million euros.
Manuel Illueca, IVF’s managing director, underlined the important role this organization plays as the financier of emerging new business ventures in the Valencian Community, adding that “we are a country that stands out for being highly disruptive”. innovation, so we will always support all entrepreneurial initiatives from Generalitat that help create added value to our productive fabric”.
In this way, he “recognised” IVF’s support for new dedicated lines of support for the industry and “We are increasingly becoming a reference in the financing of startups and entrepreneurship projects. because we are committed to financing projects without a business background on very advantageous terms”, said Manuel Illueca.
In fact, the Ministry of Finance, through IVF, already has in its portfolio of financial products “with lines that cover all stages of the life of the company, with special conditions for both those in their infancy and the more mature.” stages.
Thus, among the financial products offered by IVF for newly created companies in the first seven months of 2022 are: destructive subordinated loans and participatory loansTo this must be added the activities carried out through venture capital funds, in which the Institut Valencià de Finances participates and managed through private institutions.
Disruptive subordinated loans have benefited recently formed companies with a high innovative component, which are running projects focused on product marketing that include technical improvements in the product, its components and materials, computer programs or software design.
In addition, this line of financing is also Expansion or consolidation of the company’s general operations or realization of new projects, entry into new markets or new activities.
IVF has approved a total of 7 operations, for which a total of 5.1 million euros have been allocated under this financing line during the months of 2022.
Beneficiaries of these secondary loans include companies such as Zeleros Global, Tuvalum Sports, Mysphera, Greene Waste to Energy and Feedect Entogroup.
Also noteworthy is the line of participatory loans in co-investment with private investors, which has recently been expanded to a budget of 6m euros that was reissued. This line of finance start-ups with a high innovative component.
In the intervening months in 2022, a total of 7 Valencian startups benefited from the benefits of public-private cooperation by benefiting from these participatory loans and offering a great value co-investment opportunity with private investors. These 7 operations, including companies such as Suyndeno, Stayforlong, Fixme Corporate or Skroller, have jointly received funding of € 1.2 million.
To these figures we must add the 8 transactions performed. venture capital funds It is geared towards entrepreneurship, in which the Institut Valencià de Finances participates. These are the THINK BIG – FUND I, The Lab Ventures Fund I and DRAPER B1 III, FCR-PYME funds. These operations involve a total investment of 926,465.71 Euros.