The strength of Local Stakeholder Groups
RCIA work is rooted in a determination to strengthen cultural and creative SMEs’ competitiveness to the benefit of European economy and growth.
Cultural and Creative Industries represent highly innovative companies with potential for strong economic impact and growth. These companies belong to one of Europe’s most dynamic sectors. Their skills and services are increasingly being used to create new products and services in other industries.
By activating RCIA Local Stakeholder Groups and involving them in the exchange and learning processes, RCIA partners create awareness about the opportunities of CCI within each region.
In Belgium, working with the Local Stakeholder Group has proven to be a success that has rendered tangible results to the benefit of creative SMEs in the Belgian region.
The Belgium local stakeholder, St’art, CCI’s finance provider, has just signed the guarantee agreements with the European Investment Fund supported by the new Cultural and Creative Sectors Guarantee Facility under the EU's Creative Europe programme.
These guarantee agreements will allow St'art SA (Wallonia and Brussels) and PMV (Flemish part) to widen their financing options to Belgian SMEs perceived to be high-risk in the cultural and creative sectors. The finance providers will target currently underserved sub-sectors including design, visual arts, music, architecture and cultural activities with €25 million of loans over three years, covered by the Guarantee Facility.
In total, more than 140 SMEs in the cultural and creative sectors are expected to obtain access to finance as a result of this new Guarantee Facility. This agreement was made possible with the support of the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe, the Juncker Plan.
About St'art SA
Since 2010, St'art is the leader in financing culture and creativity through loans and equity in Brussels and Wallonia. With more than EUR 10 million already invested in diverse sub-sectors, this new guarantee facility will boost its investments through the extension of its products, including the FIRST STEP for primo entrepreneurs and PRET CULTURE, a new financing line for the strategic development of cultural institutions. More information: www.start-invest.be
