When we talk about money, investment and fundraising for entrepreneurs, lots of different possibilities arise in our minds: credits by banks, crowfunding, public funds, grants, university financial programs,… Obviously, the private sector here is important, but initiatives under the public sector let us see how government is involved and cares about entrepreneurship.
Here we want to introduce you one of these public initiatives in Valencia, Spain, home of our partner AJEV. This is the Valencian Institute of Finance (IVF).
The IVF is an entity of public law under on Public Finance of the Generalitat Valenciana, the regional government body for Comunitat Valenciana inside Spain. IVF aims to act as the main instrument of the financial policy of the Generalitat Valenciana, the regional government in the area, and exercise the powers of the Generalitat on the financial system.
The IVF aims to perform the public credit policy of the Valencian government, as well as to promote the implementation of the Generalitat’s competences in relation with the regional financial system.
Its basic purposes are the following:
- The management of the Generalitat financial debt as well as the financial needs of its autonomous entities and owned companies.
- To provide financial support for the promotion of entrepreneurial activities.
- To carry out its competency related to the control, inspection and discipline of the financial institutions under the supervision of the Generalitat, as well as implementing its functions over the local stock market.
So, to fulfill all this goals, the IVF performs all this functions:
- Management of the regional financial debt.
- Operation of the financial needs of its autonomous entities and owned companies
- Supply of the financial support for the promotion of entrepreneurial activities
- Control, inspection and discipline of the financial institutions
- Implementation of its functions over the local stock market.
This institution is committed with local entrepreneurship, especially with those activities involving the generation of sustained added value, technological innovation, job creation, or those regarded as strategic for the wealth generation within the scope of Valenciana Community.
In this line and as the main regional instrument of financial policy, the IVF carries following credit activity out:
- Granting credits, loans, guarantees and other sureties in favor of companies and entities of a private nature
- Collaborate, provide financial support and participate in the capital and in the governing bodies or promote non-financial companies and make contributions and manage venture capital funds formed with this purpose.
- Manage, administer, novate, retrieve and make any other disposition of those credits, loans, guarantees, bonds, and other rights and obligations ownership of IVF.
- Manage assets and movable character, acquired as a result of recovery processes debts to the IVF in the exercise of its lending activity.
The Valencian Institute of Finances has designed new lines of financing for the year 2016, which will go to finance business projects that help increase the competitiveness of companies and job creation in Valencia. These lines will be distributed in the form of ordinary loans, equity loans, microcredits and venture capital. Financial lines are:
Not only that but also IVF is promoting and participating in venture capital societies, with the aim of increasing capital offer for companies. The objective is to contribute to the enterprises growth from initial phases to their internationalization and consolidation.
Nowadays, IVD participates in 6 venture capital, with a total contribution of 24,5 millions of euro. The potential sectors are:
- Internet, media, marketing and electronic commerce.
- ICT (Information and communications technology).
More information in http://www.ivf.gva.es/en