FoVeC (Venture Capital Fund) for early stage companies

FoVeC (Venture Capital Fund) for early stage companies
FoVeC (Venture Capital Fund) for early stage companies

Pre-information Calabria Region notice

The Venture Capital Fund (FoVeC), established by the Calabria Region, aims to support, through a financial intervention in risk capital, managed by his in-house company Fincalabra S.p.A., companies with headquarters/local unit in Calabria, in the growth and expansion of innovative entrepreneurial activities, anche in ottica di internazionalizzazione. The intervention concerns:
  • the adoption of technical solutions, new organizational and/or production structures with respect to the reference market of the proposing company;
  • the new technologies functional to the expansion of the user target of the product/service/offer;
  • the development and sale of innovative or improved products/services with respect to customer needs.

beneficiary:

SMEs and in single form (not aggregated and excluding cooperatives), satisfy at least one of the following conditions:

  • they did not operate in any market;
  • they have been operating in any market for less than seven years since their first commercial sale;
  • need an initial investment for risk finance that, on the basis of a business plan developed for the launch of a new product or the entry into a new geographic market, is higher than 50 % of their average annual turnover over the last five years.

DURATION

5 years with the possibility of more 2 years (grace period). The duration of the FoVeC Fund is until 31 December 2030 and is divided into the following sub-periods:

  • investment period, until the 22 December 2023;
  • disinvestment period, from the end of the investment period and until 31 December 2030.

FINANCIAL ENDOWMENT

The total amount of resources is equal to €3,000,000.

 

Source: Calabria Region

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