Slovak Investment Holding: Making sustainability and innovation a priority
In Slovakia, ERDF financial instruments are helping to mobilise investments in innovation and sustainability. A cable recycling company, a business developing new technologies for waste management, and a start-up working on a revolutionary cure of heart disease, these are just a few examples of the impact ERDF financial instruments have had on the ground in support of Slovakian businesses.
Interview with Michal Nešpor
Crowdberry Investment Management is the manager of an ERDF financial instrument, specialising in investments in start-ups, small and medium-sized enterprises operating in Slovakia and real estate projects. They provide growth capital and technical support during and after the investment process. Companies can apply for fund investments in the range of EUR 200 000 to EUR 1.6 million, with the possibility of doubling the amount of investment in one investment round via the Crowdberry platform, which is the largest Czech-Slovak alternative investment platform with a network of 3 000 investors.
Interview with Edmund Skorvaga
SIH is now well established as a centre of excellence for financial instruments in Slovakia. Working closely with the Ministry of Finance, it is a strategic partner to managing authorities.
With over EUR 1 billion in resources spread across operational programmes in sectors including transport, environment, and human resources. Over EUR 600m of financing is dedicated to supporting Slovakian businesses affected by the COVID-19 pandemic under the European Commission’s Coronavirus Response Investment Initiative.
Powerful Medical: equity finance for life-saving technology
Powerful Medical is a young team from Bratislava that develops life-saving technology to assist specialist doctors in diagnosing and treating cardiovascular diseases. From a standard ECG recording they can diagnose up to 40 different medical conditions!
Slovak Investment Holding in collaboration with financial intermediary, Zero Gravity Capital, used ERDF venture capital financing to help this innovative company improve the analysis of patient data and ensure a good corporate governance from a more attractive business case.
Recable: a sustainable circuit
Recable, based in north-western Slovakia, is a small company that processes old cables, recycling copper and aluminium to give the materials a second life!
Thanks to a Cohesion Fund-backed equity investment, they could finance new modern technologies. The new production line is not only more efficient, but also environmentally friendly. The company can now recycle more than four thousand tons of cable waste per year and expand their network of buyers and suppliers in the waste management sector.
Sensoneo: smart waste collection thanks to equity financing
Martin Basila and his wife, Andrea, founded Sensoneo in 2017 with the aim to improve waste collection in Slovakia. The company develops unique intelligent technology including sensors, advanced tracking devices and sophisticated software, enabling towns and businesses to optimise and digitise their waste management.
Slovak Investment Holding offered SENSONEO financing under its SIH Anti-Corona Capital Programme which provided capital for innovative companies during the COVID-19 pandemic.
Interview with Adam Ďurica
Thanks to ERDF financial instruments, Slovakia-based Zero Gravity Capital supports businesses from their earliest stages to their expansion phase. As well as financing, they organise key European venture capital & start-up conferences and provide software development resources as well as co-working spaces and transaction advisory services. Zero Gravity looks for start-ups with a great team, talent, disruptive technologies, and drive.
Interview with Slovak Investment Holding:
Slovak Investment Holding was set up by the Slovak government to enable local expertise to be developed in relation to the design and implementation of financial instruments using EU shared management funds. The creation of the Fund of Funds manager has secured this objective and SIH now manages almost all of the ESIF financial instruments in the Member State.
As well as acting as the Holding Fund manager, selecting and managing financial intermediaries delivering financial instruments, SIH has directly invested by way of loan, equity and quasi-equity investments in final recipients in sectors as diverse as transport, social economy, cultural and creative industry and energy efficiency.
Stay tuned the case study will soon be published on the fi-compass website.