22nd April 2014

New state fund for SME investments

Minister of Industry and Commerce Jan Mládek announced new project aimed at investing in new and developing small and medium enterprises (SMEs) which basically revives original project that was stopped by the anti-monopoly authority. Ministry is planning to create so called seed fund mainly from the European money. In spite of the original project the funds would not be distributed to developing SMEs directly by the state but they would be first transferred to investment funds and investment corporations and then managed as if they were private. The original estimated value was around CZK 1.3 bn in total with 1.1 bn from EU and the rest 200 million from the state. Problem is that the project should have been running since 2012 and that’s why the present amount of funds that the state would manage to distribute is still uncertain.

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Members of the American Chamber of Commerce in the Czech Republic