Europe's 500 - Entrepreneurs for Growth presents an innovative financing concept for growth companies / For the first time government aid without distortion of competition possible
Munich, Germany (ots) -
- Martin Schoeller new President of Europe's 500
- Entrepreneurs for Growth (former GrowthPlus)
- Innovative concept for growth financing
- Erkki Liikanen, EU commissioner for enterprise and information society, welcomed the concept
- Martin Schoeller: "This innovative financing concept enables profitable growth by adequate risk reward fees for governmental collateral providers without distortion of competition"
With the beginning of his presidency with the association Europe's 500 - Entrepreneurs for Growth Martin Schoeller, Schoeller Group of companies, is presenting a new innovative concept for growth financing of small and medium sized companies. The point is to finally resolve the conflict between government aid and distortion of competition and at the same time to remove a big hurdle for growth companies. The concept will be presented for the first time at the annual Handelsblatt Forum on May 5/6, 2004 in Frankfurt.
Europe's 500 - Entrepreneurs for Growth, the association for fast growing companies in Europe, has developed a financing concept that closes the gap between bank loan and venture capital market as well as reduces the financial risk for growth companies. Governmental or EU guarantees shall be granted to the companies against a yearly risk reward fee according to their risk rating. This means that the State even would be able to make a profit. "Our innovative financing concept enables profitable growth by adequate risk reward fees for governmental collateral providers without distortion of competition", says Martin Schoeller.
Erkki Liikanen, EU commissioner for enterprise and information society, highly appreciated the concept on the occasion of a meeting in March in Brussels where Liikanen and Schoeller discussed the Lisbon Agenda of the EU Council aiming "to become the most competitive and dynamic knowledge-based economy in the world" . They agreed that innovation financing represents a key issue of the EU action plan for enterprises which has also been reaffirmed by the EU Spring Summit on March 25/26, 2004.
Further to the issue innovation financing the new President of Europe's 500 - Entrepreneurs for Growth, Martin Schoeller, intends to focus on 2 projects: 1. Facilitation of pan-European entrepreneurship and growth and 2. European entrepreneurs education in cooperation with universities and business schools. "As new president of Europe's 500 - Entrepreneurs for Growth my target is to contribute to more growth by more entrepreneurship", says Martin Schoeller.
The association Europe's 500 - Entrepreneurs for Growth publishes annually the top 500 European growth companies based on the Birch Index which considers the relative and absolute growth, especially of turnover and employment. Companies from 18 European countries are participating in this process. Since the foundation of Europe's 500 in 1997 by the EU commission and the entrepreneur Bert Twaalfhoven, the top 500 European growth companies are yearly awarded. The annual Europe's 500 list is sponsored by 3 i, Microsoft, The Boston Consulting Group and Price Waterhouse Coopers.
The association Europe's 500 - Entrepreneurs for Growth (former Growth Plus) has been founded in 1997. Europe's 500 ranks the top 500 European growth companies according to their relative and absolute growth, especially in turnover and employment. Every year the top 500 growth companies from 18 European countries are awarded. President of Europe's 500 - Entrepreneurs for Growth is Martin Schoeller, Schoeller Group of companies, Munich. For further information please see www.entrepreneursforgrowth.org.
Since 1982 the Schoeller Group of companies is managed and built-up by Martin and Christoph Schoeller. The focus of the Group companies and participations is on the segments closed loop packaging systems, logistics and technology management. Among others the Group is founding shareholder in Schoeller Wavin Systems NV, IFCO Systems NV, Syntek Capital AG, Schoeller Metternich Brennecke GmbH and Barkawi & Partner GmbH & Co. KG. The companies employ jointly 5000 people and generate a combined turnover of approx. 800 mio. EUR. For further information please see www.schoellerwavinsystems.com.
CNC AG Bettina Prange
Tel +49 (0)89 599 458-123