1 - SWITCH-Med

SwitchMed Green Entrepreneurship
Programme
Le rôle des acteurs financiers dans l’appui à
l’entrepreneuriat vert et à l’éco-innovation sociale
www.switchmed.eu
SwitchMed Programme
is funded by the
European Union
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Daniel Sorrosal,
FEBEA
Résultats en Maroc
2
•
Un petit écosysteme pour financer les startups est en place au Maroc FNAM, AFD,
Al Baraka, INMAA, CGEM, Afric Invest, OCP Fondation, Drosos Fondation, Attijari
Wafa Invest, Endeavor, Cluster Solaire, MITC Capital (Numeric Fund), BMCE
•
L’offer financière existante n’est pas adaptée pour les “entrepreneurs verts”. Mais
de nouveaux instruments sont dans la pipeline soit sur le prêt soit pour le capital de
risque.
•
Produits en capital de risque sont en gestation.
•
Les banques surveillent les tendances et envisagent de nouveaux produits mais
elles restent encore très conservatrices.
•
L’entrepreneuriat jeune est politiquement un problème et les entrepreneurs verts
peuvent certainement bénéficier de cette agenda.
•
Malheureusement, il y a trop l’accent sur les gagnants et les individus à fort
potentiel de croissance.
•
Les résultats seront disponibles dans le coin « investisseurs d’impact » du site web
de SwitchMed.
Mapping Instruments in Morocco
Early phase
Seed
Start-up
Concept
Launch
Expansion phase
First stage
2nd stage 3rd stage 4th stage
Production
Scaling
Standardization
Loan Finance
Micro Finance
Business Angels
Loss zone
Family &
friends
3
Incubators
Foundations
& Prizes
Stock
market
Venture
capital
Profit zone
Public-to-private
Green Impact Investing Network
Objectif: Engager les réseaux d’investissement et la creation de
plateformes avec des financiers locaux pour améliorer l’accès au
financement pour les entrepreneurs verts et jeunes de la Méditerranée.
En partenariat avec la Fédération des Banques Ethiques et Alternatives.
Construction de Business Case
Séminaires avec les réseaux internationaux
Collection de
d’investissement
preuves
Campagne de
Séminaires avec la finance nationale
Reportage du
publipostage
contexte
Instruments financiers
Egypte (2015)
Telecalls
Diapositives pour
Maroc, Tunisie et innovants
missions
4
Missions en
Europe (2015,
2016)
SWOT pour le
marché européen
SwitchMed
Connect session
sur A2F
Liban (2016)
SWOTs pour les
marches
nationaux
Session A2F dans
les ateliers de
synergie
nationaux
organises par la
composante de
démonstration GE
Rapport d’activité:
actions pour le
dévelopement
d’instruments
financiers
innovantes pour
les jeunes
entrepreneurs
verts en la
Méditerranée
GIIN Med
In the search for innovative financing
solutions for green entrepreenurs
Egypt
August 2015
Morocco
May 2016
Tunisia
June 2016
Lebanon
September 2016
Europe
November 2015 – December 2016
5
Findings from Egypt
6
•
A small ecosystem to support, develop and finance start-ups is developing in Egypt:
Sawaris Foundation, Sawari Ventures, Egypt Innovate, 138 Pyramids, National
Bank of Egypt, Banque Misr, CairoInvest, AIC Finance, Egypt SEFF, INJAZ,
Shekra, Flat6Labs, CleanTech Arabia, Social Fund for Development.
•
Funds are locally raised and investors tend to be either existing Egyptian
Entrepreneurs who want to help develop new young Egyptian startups.
•
It is a system based on "cherry picking” and designed to foster the emergence of
innovative and hopefully very successful startups.
•
Public policy in Egypt could be oriented towards fostering eco-innovation among
potential green entrepreneurs, rather than on the promotion of tried and tested
concepts.
•
International technical assistance and public funding can be used to establish a
high-performing guarantee scheme for start-ups.
•
The Government could also provide banks with technical assistance in order to
better assess the potential of green enterprises.
•
Reports are available in the ‘impact investors’ corner.
Mapping Instruments in Egypt
Early phase
Seed
Start-up
Concept
Launch
Expansion phase
First stage
2nd stage 3rd stage 4th stage
Production
Scaling
Standardization
Profit zone
Loan Finance
Loss zone
Incubators
Family &
friends
7
Business Angels
Venture capital
Stock
market
Public-to-private
Findings in Europe
8
•
More than 15 financing institutions, development agencies and networks interviewed
and to be interviewed: Banca Etica, Alterfin, CoopMed, Crédir Cooperatif, AfD,
Comptoir de I’Innovation, FEFISOL, ResponsAbility, Etimos Foundation, ANIMA,
Global Alliance – For Banking on Values (GABV), Global Impact Investing Network
(GIIN), KfW, Hivos, Oiko Credit, Triodos Investment Management.
•
There is in principle interest to invest but the focus is on enterprises with a track
record and potential for growth. The size of investments are often above the €1
million mark.
•
Attending events targeting financing institutions to promote green entrepreneurs,
identify existing instruments and advocate engineering of new funds.
o
ALFI Impact Investing Conference – European Microfinance Platform, GIIN, LuxFlag
o
FEBEA General Assembly – in Croatia on 6th June
o
SANABEL Network Event – The Microfinance Network of Arab Countries, in Morocco on
1st-2nd November
CoopMed Fund
Legal Status: Limited liability company established under Belgian law
Target size: EUR 20 M in 2 steps: launch: EUR10,5 M (operational since 09/2015)
Q2 2016: closing of the second part to reach a total of EUR 20 M
A committed partner for local financial intermediaries:

To provide quasi-equity and long-term debt: CoopMed offers subordinated and senior loans

To finance the development of local activities through the financing of social economy, micro and
small enterprises

To support our clients’ operations and growth (thematic credit line to develop targeted
project/product, support to the implementation and the improvement of social performance
management …)
Area of intervention:

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Beneficiaries located in countries of the Southern and Eastern shores of the Mediterranean:
Morocco, Tunisia, Lebanon, Jordan and Palestine as the first zone of investments
CoopMed Fund
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Some top level findings
•
Weakness: Funding of very small sized start-ups like
the Switchers is a huge challenge. Almost no
instruments are available in the countries of focus.
Typical sources of financing are micro-finance, some
angel investing and crowdfunding platforms.
•
Opportunity: New financing pipelines from Europe to
North Africa can be established (e.g. CoopMed).
However, this needs intense facilitation.
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