SOFIGREEN (Social Finance for Social Greening) is a project co-financed by the EU Commission under the SMP-COSME-2022-SSE (G.A. 101127346) focusing on supporting the ecological transition of social economy SMEs and entrepreneurs in the proximity and social economy ecosystem. It does so through two main tools: promoting multistakeholder and multilevel collaboration and a better and more aware access to financing instruments.

Thus, the project aims to empower SSEE businesses and entrepreneurs to achieve the goals set by the EU Green Deal by reshaping their business model and raising the funding they need to make the quantum leap that will bring them to the forefront of social, economic and environmental sustainability.

They will also become part of wider territorial ecosystems, hubs of collaboration between large and small businesses, research organizations and public sector actors, which will play a central role in catalyzing the green transition to new value chains and more sustainable communities.

The Capacity Building

The SOFIGREEN action plan entails first the co-design of a Capacity-Building training package dealing with:

• identification and assessment of skills, infrastructure and related investment needs necessary to achieve long-term climate goals;
• the economic and financial planning needed to realize these investments;
• access to funding opportunities and multi-stakeholder and multi-level collaboration.

Through a special call for proposals, at least 90 organizations will be selected to access the two Capacity-Building courses (one for start-ups, the other for growth enterprises) in the three target territories (Italy, France and Spain).

With a second selection, at least 60 out of 90 will receive further financial support through grants and coaching to improve their investment readiness and ecosystem approach, making it easier for them to access the financing they need for their ecological transition.

The Venture Philanthrophy Fund

To further ensure this is achieved, the partners will discuss and co-design financial instruments suitable for SMEs and launch an European Venture Philanthrophy Fund interconnected with a network of local funds and financial intermediaries.

Cross-border cooperation will be developed through six transnational peer-learning and capacity-building sessions involving beneficiary enterprises, partners and stakeholders.

SOFIGREEN‘s partnership network covers more than 60 European territories and the MENA (Middle East and North Africa) region, enabling wide dissemination of results and replicability.

Starting in October 2023, the project will be developed over 24 months.

Co-funded by the European Union. Views and opinions expressed are however those of the authors only and do not necessarily reflect those of the European Union or EISMEA. Neither the European Union nor the granting authority can be held responsible for them.