The Access to Finance in Moldova – ACCESS (ACCESS) Project was launched in February 2015. The project’s development goal is to support start-ups and SMEs to access external equity and venture capital. The project purpose is to establish an inter-playing mix of instruments to improve access to finance for entrepreneurs and SMEs in Moldova.
ACCESS is divided into 3 Work Packages:
WP1. Facilitate access to finance
- Establish two SF processes per year
- Develop of a Business Angel Network system
- Preparation of the Feasibility Study on establishing and developing venture capital markets in Moldova.
WP2. Establish and develop the iHUB in Chisinau
WP3. Internationalisaiton of startups -For the most promising and advanced four Moldovan companies per year that go through the Seed Forum process, the project team will facilitate their presentation at the other international SF Investor Conference(s).
The project has the following main target groups:
- Newly started companies with the need to get connected to professional networks, potential partners, markets, investors.
- Entrepreneurs and SMEs with ambitions of starting or developing commercial technology companies.
- Established SMEs with ambition for the internationalisation of business activities.
- Norwegian Innovation Network players interested in the Moldovan innovation potential and partnership opportunities.
- Norwegian and international private sector players interested in cooperation opportunities with Moldovan private sector players.
- Ukrainian State/Municipal Institutions and Chambers responsible for supporting innovation and SMEs on the regional level.
- Ukrainian professionals with the ambition to lead Innovation infrastructure – future iHUBs and Technology Park managers.
The table below summarize the Norwegian priorities, Moldovan needs and how Access to Finance project addresses these.
|Norwegian priorities for Moldova||Moldovan needs and the Access to Finance solution|
|Entrepreneurship||Establish and operate innovation centre (iHUB) supporting young entrepreneurs in Chisinau|
|Private Sector Development||Support establishment and development of start-ups in the new economy|
|Strengthening Competitiveness||Coach local start-ups with growth potential to go international|
|Gender issue||Minimum 40% of the entrepreneurs getting support should be females|
|Bilateral relations||Partnering between Moldovan and Norwegian start-ups, with guest-office opportunities in iHUB Chisinau|
(hjelp til selvhelp)
|· Recruit and train local young iHUB managers from day one
· Offer tailor-made training and coaching to entrepreneurs inside and outside the iHUBs
|Efficiency and Reforms||Through Public-Private Partnerships (PPP) establish independent iHUB|
|Transparent management model and anti-corruption guidelines and procedures|
Project funded by: