The main outcome of Finance4SocialChange is to intensify the cooperation of project partners (policy makers, financial intermediaries, social enterprise catalysts, research institutes) with target groups (social enterprise start-ups and scale-ups) in the programme area by:
- Community Strategy for Social Impact Investment for the Danube Region: creating a "community of practitioners" committed to working together to shape the regulatory framework
- Social Impact Investment Design Academy: delivering 130 hours (6 modules) of transnational blended learning with 400 social enterprises (SEs) providing knowledge and access to social impact investors, financial intermediaries and philanthropists
- Social Impact Investment Competition: a fundraising programme that creates direct business opportunities and access to capital for the top 50 performing social enterprises to secure social impact investments totalling €150-200 000.
The project brings together a multidisciplinary partnership of 14 project partners and 5 associate partners:
1. IFKA Public Benefit Non-Profit Ltd for the Development of the Industry, Hungary
2. ZSI Centre for Social Innovation, Austria
3. Financing Agency for Social Entrepreneursip, Germany
4. Executive Agency for Higher Education, Research, Development and Innovation Funding, Romania
5. BSC, Business support centre L.t.d., Kranj, Slovenia
6. Steinbeis 2i GmbH
7. Sofia Development Association, Bulgaria
8. Union of Slovak Clusters, Slovakia
9. IDEA IN ACTION ASSOCIATION, Croatia
10. ASHOKA Austria / CEE, Austria
11. University of Heidelberg / Centre for Social Investment, Germany
12. CCIS Serbian Chamber of Commerce and Industry, Serbia
13. ODIMM Organization for Small and Medium Enterprise Sector Development, Moldova
14. Institute of Market Problems and Economic-Ecological Researches of NAS Ukraine, Ukraine
15. Central European Initiative Executive Secretariat, Italy
16. UnLtd, The Foundation for Social Entrepreneurs - GSEN Global Social Entrepreneurship Network, United Kingdom
17. EURADA European Association of Regional Development Agencies, Belgium
18. Ministry of Economy and Infrastructure - Moldova
19. NESsT Foundation Romania, Romania
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Contact details:
Olesea Vulpe
Organisation for the Development of the Small and Medium Enterprises Sector
Chisinau, Republic of Moldova, MD-2012
bd. Stefan cel Mare și Sfânt 134, of. 336
tel: +373 22 22 45 20
email: olesea.vulpe@odimm.md
Mobilising financial resources for positive social change - Finance4SocialChange
Programme: Danube Transnational Programme 2014-2020
Project duration: 01.07.2018 - 30.06.2021
Call number 2
Priority axis 1: Innovation and social responsibility in the Danube Region
Specific objective: Improving framework conditions for innovation
This project is co-financed by European Union funds (ERDF, IPA, ENI).
- Total budget: 2 013 975 EURO
- ERDF contribution: 1490432,5
- IPA contribution: 100321,25
- ENI contribution: 121125
Finance4SocialChange aims to facilitate the training of policy makers, government agencies, social enterprises, financial intermediaries, social enterprise catalysts, academia and the public to deliver innovative policy projects that will enhance the positive impact on society in the Danube region.
The impact of social investment has become increasingly relevant in the current economic context as social change has intensified while public funds are under pressure in many countries. According to the annual EVPA survey (2016), only 2% of global social impact investment targets Central Europe (host of the Danube region), compared to 78% in Western Europe. In addition to investment capital, social impact investors report the lack of access to early stage capital, without demanding high returns, as the biggest challenge to industry growth. Finance4SocialChange responds to a key gap in the policymaking sphere in the Danube region, namely the shared understanding of social impact issues, as well as the creation of more sustainable social enterprises, the establishment and expansion of social enterprises in the Danube region through improved regulatory frameworks.
