The Southern Province offers support for innovation through a number of schemes: - The Sud Innovation Fund - PromoSud’s venture capital line for start-ups - The section dedicated to innovation within the FGPS - CASE employment assistance for business owners In addition to CASE, the Southern Province has set up other provincial business support schemes to direct initiatives towards the sectors it wants to promote as part of its economic policy. Southern Province Guarantee Fund (FGPS) The Southern Province has a guarantee fund to facilitate access to bank financing for risky investments. Its aim is to encourage financial institutions to meet the financing needs of local businesses in the Southern Province by securing their lending activity. The maximum guarantee is 80% of the loan amount. The guarantee ceilings depend on the sector concerned, whether general economy, tourism, aquaculture-silviculture-fisheries, tourism, or innovation & sustainable development. Sud Innovation Fund Sud Innovation is a provincial support scheme for innovative companies, in the form of subsidies or repayable advances, to help them with their innovation projects and development investments. This seed capital fund is the result of a partnership with BpiFrance and enables risk to be shared between the promoter and the local authority, creating real leverage at an important stage in the life of the company. 5 - INVESTMENT FINANCING SCHEMES 61
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