From today, companies in Groningen and North Drenthe can apply for funding from the 'Fonds Economische Agenda Startkapitaal'. The fund is part of Nij Begun's Economic Agenda and is implemented by the Noordelijke Ontwikkelingsmaatschappij (NOM). It is intended for innovative scale-ups and sizeable transition projects in the region and offers funding options between 2.5 to 25 million euros. With a total size of 60 million euros, the fund aims to fill an important gap in the market for promising but high-risk projects.
Entrepreneurs with large-scale plans often get stuck in the funding phase. The risk is often too great for banks and other investors drop out because the capital requirement is too specific or too risky. The Fonds Economische Agenda Startkapitaal changes this by providing risk capital through subordinated loans and equity participations.
Potential for the future
"We do not finance on the basis of certainties from the past, but on the basis of potential for the future," said Jakob Klompien, Nij Begun's Economic Agenda quartermaster. "By bearing a significant part of the risk as a fund, we attract other investors. In this way, our contribution acts as a flywheel to get the total funding off the ground."
Projects focused on earning capacity and employment
The fund is not without obligation; each investment must contribute directly to the strategic goals and the five themes (sustainable energy, health, agriculture, industry and leisure economy) of the Economic Agenda. An independent investment committee tests applications against the conditions of the Economic Agenda and their contribution to the goals. Thus, we realize projects that strengthen earning capacity and create employment in the province of Groningen or the North Drenthe municipalities of Noordenveld, Aa en Hunze or Tynaarlo.
Urgency as a condition
The Economic Agenda Start Capital Fund is intended to make an impact in the short term. The fund therefore focuses on plans that can start immediately. The funding must be urgent. Within ten months of submitting the application, the financial close and the fulfillment of preconditions must be completed. Starting today, entrepreneurs with a capital requirement of 2.5 million euros or more can register here for an intake interview with an NOM investment manager, seconded to the Fonds Economische Agenda Startkapitaal.
About Fonds Economische Agenda Startkapitaal
The Economic Agenda Start Capital Fund is an initiative of the Nij Begun Economic Agenda. This fund was established in anticipation of the start of the organization behind the Economic Agenda to already invest. The fund has a size of 60 million euros and provides venture capital to companies that contribute to the broad prosperity of the region. The implementation of the Economic Agenda uses existing organizations and structures as much as possible. This is why the fund is housed with the NOM, which manages the fund.
About Nij Begun
With Nij Begun we are working towards a liveable, safe and future-proof region for all inhabitants of Groningen and North Drenthe. The Economic Agenda is one of the pillars of Nij Begun. This agenda focuses on investments that strengthen the economic structure and earning power, promoting entrepreneurship, talent development and retention, capitalizing on knowledge and increasing regional self-awareness. Alongside this agenda, we are working on broad prosperity and sustainable quality of life through the Social Agenda and the isolation approach. Nij Begun for recovery and progress - with tackling damage, strengthening and recovery as a permanent priority.