The Provencal Seed Capital Action Plan is for the benefit of all technological or innovative projects (led by an individual or a newly-founded company) likely to rapidly materialise into an industrial or service company in one of the 17 towns of the mining basin in Provence.


The Provencal Seed Capital Action Plan consists of:


seed capital funds:

designed to finance initial expenses (market research, technical studies, fine-tuning of prototypes…) of an innovative or technological project:

	in the form of a loan that is to be repaid when successful, a maximum sum of 40,000 € in FIBM funds (Industrial Development Fund for Coal Basins) for projects led by individuals;
	in the form of capital participation, a maximum sum of 50,000 € in SOFIREM funds, for projects led by companies being set up;
	a follow-up process carried out by a represantative of SOFIREM during the loan period (5 to 8 years).

a selection committee:

made up of Government representatives, of Charbonnages de France, of SOFIREM, of Pays d'Aix Développement, of Provence Promotion, of the CMP and of the CREMSI, selecting projects eligible for the action plan.

In addition to the innovative and technological character, one criteria is that the recipient is committed to founding the company in one of the 17 communities of the mining basin.

After projects have been considered by SOFIREM, they are presented to a committee that will determine the financing terms and conditions. .

Finally, a steering committee supervises the action plan and will evaluate its effectiveness.

The steering committee met for the first time on 3 December, 2003 to ensure the implementation of the first endowment of the FIBM.

From a sum of 225,000 €, this will enable the financing of 5 to 6 projects originating, in particular, from the proposals of the Pays d’Aix Développement and from Provence Promotion.

For finance and assistance to create your innovative company, join START IN PROVENCE - the support programme set up by PROVENCE PROMOTION and its partners, financed by European funds.

To find out more, visit: www.investinprovence.com

and in June 2004, a new website: www.startinprovence.com