European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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North- East Investment Fund

Title of measure
Full title in national language:
North- East Investment Fund
Duration:
2012
Policy objectives Plus
Presentation of the measure:

The North- East Investment Fund is a loan fund supporting capital projects that encourage local economic growth and create jobs in the area. The North- East Investment Fund is managed by the North- East Local Enterprise Partnership and financed by £25m of Growing Places Fund and £30m of Regional Growth Fund. The North- East Investment Fund exists to support projects that help maintain or improve an asset, often called infrastructure. A project could be a new construction, expansion, renovation, or replacement for an existing facility or facilities. The projects – known as capital projects – must prove how the investment provides an improvement, new feature or benefit, for example: expanding capacity, reducing costs or producing new components.

Keywords:
Budget, source and type of funding
Year2012
National public funds 25,000,000
Regional public funds 30,000,000
EU Structural Funds
Private funds
Other
Form of funding provided
Subsidised loans (including interest allowances)
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
The measure has achieved its intended targets in terms of results (e.g. number of enterprises investing in innovative projects, people trained)
Evidence of outcomes based on evaluation and other evidence:

The main factor in impacting the degree of success of this kind of measure is the presence of an active entrepreneurial ecosystem.
 

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

In implementing this type of measure, regional stakeholders must have an ex-ante analysis of the economic picture of the territory. They need to investigate the gap emerged from this analysis and then decide what kind of actions must be taken. It must be avoided to think providing financial resources is enough in order to improve the entrepreneurial ecosystem. In fact, it is needed to undertake collateral activities.
 

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
No
Organisation(s) responsible