FACILITATING
ALTERNATIVE
FINANCING
Industry: Financing
CIVITTA team: Estonia, Ukraine, Romania
ne of the most import-
ant issues that SMEs in
Europe are facing is
difficulty to access
financing. The alternative financ-
ing sector has emerged very
strongly and provides an attractive
solution to the current financing
gap. The sector is, however, very
unevenly developed across Europe
with South, Central and Eastern
regions lagging behind.
Altfinator project aims to carry out
capacity building of the financial
ecosystem and its participants to
improve innovative SMEs’ access to
alternative forms of financing in
Europe until April 2020. The
project consortium consists of 11
partners with a combined budget of
1.5 mil EUR. The project is coordi-
nated by CIVITTA Estonia with
CIVITTA Ukraine and CIVITTA
Romania carrying out activities in
their local markets.
As a result of the strategy, the
project will work on two areas; first
equip the local stakeholders with
materials, resources and online
tools for capacity building and
secondly work on the matching of
innovative SMEs to alternative
finance schemes. The partners will
engage and broaden the stake-
holder community, complemen ted
by equal increase of knowledge,
capacity and partnerships in
support of provision and absorp-
tion of alternative forms of financ-
ing for innovative SMEs.
ALTFInator has received funding from the European Union’s Horizon 2020
Research and Innovation programme under Grant Agreement No 792040