Banks join forces with Oost NL and The Economic Board Arnhem-Nijmegen to set up
a funding roundtable ARNHEM-NIJMEGEN REGION: Rabobank, ING and ABN-AMRO, together with Oost NL and The Economic Board Arnhem-Nijmegen, have set up a funding forum for SMEs. Innovative entrepreneurs with a sound business plan can approach the funding forum to find a way to finance their business plan. The funding panel expects to be able to support many entrepreneurs each year in this way. The funding panel focuses on both innovation and financing and is intended to give innovations that the region desperately needs a greater chance of success. Oost NL handles the initial assessment and submits the cases to the funding panel. Jan van Dellen, director of The Economic Board Arnhem-Nijmegen, is the chair of the panel.
Region desperately needs innovations
In a report, Rabobank noted that entrepreneurs are finding it difficult to secure funding for innovative ideas. The funding panel will therefore begin work immediately in January 2023, reviewing the first cases submitted. Jan van Dellen can’t wait for that to happen: “We’ve been raring to go for months to start helping our entrepreneurs. Just imagine: if you have a good idea – whether for a start-up or to expand your young business – there’s nothing more frustrating than sitting in a waiting room because you don’t know where to turn with your funding needs. Our region desperately needs innovative entrepreneurs to solve the challenges of the future. How do we reduce energy bills in our neighbourhoods? Which healthcare applications will help maintain public health in our region at a lower cost? Through the funding roundtable, we’ll help entrepreneurs bring tomorrow’s solutions to market.”
Major banks join forces
What makes the financing roundtable unique is that the major banks – Rabobank, ING, ABN-AMRO and Oost NL – are working together to create an alternative. Oost NL collects case studies, which are then submitted anonymously and discussed in terms of their content. It will subsequently become clear which bank is the most suitable financing partner. Applications that do not fit within the frameworks used by the banks are referred to alternative financiers. Examples of this include investment funds, business angels or crowdfunding. Jan van Dellen: “It sometimes happens that an entrepreneur is not yet able to meet the requirements for financing. In such cases, the financing roundtable can also help set up a coaching programme, identify potential grants or refer the entrepreneur to a partner specialising in supporting emerging entrepreneurs. The basic principle is that we want to give them a helping hand in the most appropriate way.”
Innovation for survival
The constant changes in knowledge, products and services, working methods, behaviour, prosperity and social relations require entrepreneurs to pay constant attention to these changes. In short, a focus on innovation. This is essential for survival, particularly in these very difficult times for SMEs. That is why the demand for financing is much more than just a demand for
working capital for day-to-day operations. Jan van Dellen: “Without investment in people, new processes, methods, products and ICT, no business can remain successful.” The financing roundtable comprises representatives from Rabobank, ING, ABN-AMRO, Oost NL and The Economic Board Arnhem-Nijmegen. The board-level consultation is chaired by The Economic Board. This public-private partnership aims to make a collective impact to accelerate innovation and thereby contribute to addressing societal challenges.
