Article

23.05.2018

More funds for innovative start-ups in Europe

The European Commission and the European Investment Fund (EIF) are launching a venture capital fund programme named VentureEU. The aim? To stimulate investment in innovative young companies and scale-ups throughout Europe.

One thing is clear...

Europe is teeming with innovative ideas, but sometimes misses the boat to transform this potential into actual success, in particular because of a lack of investment. The United States have been able to profit from this failing, as a country with much higher levels of venture capital: 156 billion on average compared with "only" 56 million in Europe. In 2016, venture capitalists injected close to EUR 6.5 billion in the EU, in comparison with EUR 39.4 billion in the United States.

The consequence? Flight of the unicorns

Innovative start-ups with great potential for growth – so-called "unicorns" when they are valued over one billion dollars – do not find sufficient financial resources in Europe and so leave for other shores. So it's not by chance that "only" 26 of these unicorns called Europe their home at the end of 2017, while the United States could boast 109 and China 59. The challenge for Europe is to encourage these companies with their great potential to remain and grow in Europe.

Doubling European venture capital

In concrete terms, VentureEU groups six funds that will take on shares in other smaller funds in order to cover projects in at least four European countries each, and in sectors such as information and communication technology, digital technology, life sciences, medical technology, energy efficiency and resource use. For this pan-European programme, the EU is providing a stake of EUR 410 million, which should serve as leverage to raise an additional EUR 2.1 billion of public and private investment. The total aim is close to EUR 6.5 billion, which would help to boost young European companies and double the amount of venture capital currently available in Europe.

The aim: 1,500 companies

VentureEU demonstrates the EU's desire to offer European projects new sources of financing. The objective is clear: to create the conditions to spawn more companies that are capable of going global. According to the estimates of experts from the European Commission, the resources made available should provide support for almost 1,500 start-ups and scale-ups.

Can a fashion company be successful even if it forgoes the excesses of fast fashion? Definitely, as Jean Chabert proves with Stanley/Stella, which produces custom-made clothes from organic cotton.

“We want to be a game changer,” says Jean Chabert, CEO of Stanley/Stella. "When I was born 62 years ago, 2 billion people were living on our planet. Today there are 8 billion. That’s the reality, so we need to stop depleting resources. Human activities always have consequences, but we must constantly strive to improve. That’s our commitment, and we enshrined it in a charter in 2022. We monitor our entire ecosystem and focus on people and trust."

Clothing as a means of communication

The B2B company from Brussels sells clothing that serves as a means of communication. Stanley/Stella customers have T-shirts, sweatshirts and hoodies printed or embroidered and they offer these personalised items to their own customers. "We're in a giveaway industry, and our prices are at least 50 per cent above the average. But we offer superior quality and respect for people," says Chabert.

Organic cotton: half the water

15 of the 220 Stanley/Stella employees are directly or indirectly involved in Environmental, Social, Governance (ESG) activities. For example, they check that agreements on working conditions and safety at the production sites are respected. The company buys its organic cotton, produced without Genetically Modified Organisms (GMOs) or pesticides from India, Tanzania and Turkey - it uses 70 per cent less water than conventional cotton. Stanley/Stella has also made long-term commitments throughout the production chain to minimise any negative impacts on people and the environment. For example, 90 per cent of containers arrive at the warehouse in Germany by inland waterway, the least polluting form of transport.

Considering all the impacts

“Of course, we have to remain realistic,” Chabert adds. "Companies that want to be viable must also remain profitable. By definition, we use resources to make textiles. So, we consider all the impacts. For example, we continue to operate our textile decoration business in Europe, even if it's more expensive. Wastewater containing inks and dyes is treated and reused. At the moment, we can't avoid electricity being generated by gas in Bangladesh. We check how willing a country is to make progress in this area. And in the meantime, we offset what we can't avoid."

Trust and humanity

“Trust is at the heart of any good relationship,” says Chabert. "I used to have a cash flow problem. I relied on my own equity and for years, had no loans. I was the only shareholder for a long time. Eventually, I opened my capital to 40 per cent and applied for loans from BNP Paribas Fortis. Today, we know each other well, and I don't have to explain my company's limitations; they know the industry. They co-finance the stock, offer an invoicing solution, support our development in the United States thanks to their international network, and much more."

Today, it’s full steam ahead for Stanley/Stella. In 2023, turnover more than doubled to EUR 170 million. The company also hopes to enter Japan and South Korea soon. For Chabert, one thing is clear: "Our most important wealth is not on the balance sheet. It’s our people."

Stanley/Stella is ready to change the world. Discover more entrepreneurial stories.

 

We monitor our entire ecosystem, focusing on people and trust.

Our prices are at least 50 per cent higher than the average. But we offer superior quality and respect for people.

The Brussels-based scale-up Optimy brings together corporate volunteering, donations, patronage and sponsorship activities all on one platform. On it, their impact on society is concretely measurable.

"Originally, I didn't think of myself as a social entrepreneur, even though I was involved in sponsorship. At the request of our customers, my partners and I have developed an entire provision of services that has become the most comprehensive platform on the market," says Kenneth Bérard, CEO of Optimy.

One of these customers was the BNP Paribas Fortis Foundation, which wanted to make a greater social difference and also give these actions more visibility. "It's a must for companies to contribute to society. This generates added value for the company and fuels a positive spiral. But that social impact has to be measurable. How many children have been helped? How many trees have been planted? What effect does this have on employee satisfaction, image and turnover? Our model offers all of this. This means that companies don't have to purchase new modules every time they want to add additional activities. I think that’s our great success factor. We are the market leader in Europe in our sector and the only company operating in both Europe and North America."

Personal support

"Many companies are full of good intentions. They want to have a positive impact on society, but they often lack a good method to do this efficiently," the entrepreneur notes. "They tend to see all their efforts in isolation. The Optimy platform offers a solution for this. It's easy to put together and it's service-oriented. We adapt to the processes of each business unit and company. It doesn't work the other way around," assures Bérard. "Our customers are not looking for technology; they're looking for guidance. We invest in personalisation, and it's paying off, as a customer satisfaction survey shows."

Structuring actions

The first piece of advice that Optimy always gives companies is: don't shred your efforts, they should form a whole. "We recommend that companies structure their actions using our tool. The corporate social responsibility policy must be in line with the company’s values, DNA and broader strategy. And of course, the actions must be transparent and well executed."

The right partner

From the beginning, the connection Optimy had with BNP Paribas Fortis was decisive for the company’s growth. "The fact that the bank follows us has increased our credibility with our partners, investors, customers and also internally. Now it's setting up a factoring service for us to further support our growth."

Optimy's growth was initially supported by cash flow, which is unusual for a technology company. Financing came into play beginning in 2019. That's when a Canadian fund specialising in software as a service (SaaS) companies and affiliated with the prestigious Massachusetts Institute of Technology (MIT) became a shareholder.

Multicultural enrichment

As with increasingly more companies, one of Optimy’s biggest challenges is recruiting new talent. “We've been able to convert that challenge into an asset,” concludes Bérard. "We attract talent from abroad. Sixty people from twenty nationalities work in our Brussels branch. This multiculturalism is a huge enrichment and has helped us break through internationally."

“The corporate social responsibility policy must be in line with your company’s values, DNA and broader strategy”.

Article

08.03.2024

Businesses stand to benefit from switching to electric and multimodal mobility

BNP Paribas Fortis is ready for the mobility of tomorrow. And Laurent Loncke, General Manager Retail Banking and member of the bank’s management committee confirms this when he says “We do much more than lease electric vehicles”.

How can companies leverage mobility as part of their transition?

"If we look at vehicle usage alone, switching from fossil fuels to electric energy can reduce CO2 emissions by a factor of four. This transition is being encouraged in our country more than ever by tax incentives and tax breaks. From 2035, the European Union will also ban the sale of cars with combustion engines. Whether it’s for the company fleet or company cars for employees, electric driving is the way forward, alongside other forms of mobility."

Are all businesses aware of this?

"These days, two out of every three new vehicles are company cars. And 80% of those orders are electric vehicles, a trend that is also apparent at our partner Arval."

So companies are playing a pioneering role in this transition?

"Certainly. First and foremost because former company cars find their way to the second-hand market at some point, making electric driving more accessible for everyone. Secondly, by choosing an electric car, you can encourage your friends and family to follow your example. Our recent Profacts survey (only in Dutch and French) showed that 85% of electric vehicle owners are satisfied to very satisfied that they switched to an electric vehicle. However, 42% of Belgians are still reluctant. Half of them are worried their battery will run out before they can get to a charging point."

Is their fear justified?

"Not really. Most drivers only feel comfortable with a range of 500 kilometres, even if they only drive a few dozen kilometres a day. It’s true the charging network does need to be developed further. Many people, especially those living in cities, cannot install a charging point at home. BNP Paribas Fortis is contributing to the expansion of the charging network through its participation in Optimile. This Ghent scale-up offers software solutions for charging electric cars and is developing strategic partnerships for the installation and maintenance of charging points."

Can an electric car be part of each employee’s remuneration package?

"Today, there are already less expensive vehicles on the market, making electric driving an option for middle and lower-management. The Total Cost of Ownership of an electric car is the most important factor, however. And this is still much lower than that of a vehicle with a combustion engine. Leasing is often the best solution. We have a comprehensive, tailor-made offering for all companies, regardless of their size and needs."

What exactly do you mean by a 'comprehensive offering'?

“In addition to leasing, we are able to offer charging solutions at home or at work, a charging card for public networks, the automatic reimbursement of electricity consumption at home, an app to find charging stations, and electric driving training through our many partners.”

So a complete ecosystem?

"We want to contribute to the mobility of tomorrow. By financing it, through credits or leasing, and with insurance, but also by working with partners outside our traditional activities. Like Optimile, and Touring, an organisation that is synonymous with reliability."

But mobility isn't just about cars, is it?

"We believe we need to rethink our relationship with the car. Given the climate targets and the increasing scarcity of resources, it is simply not possible to replace every internal combustion engine with an electric car at the moment. Arval offers its extensive expertise to companies considering a different approach to mobility. We help them analyse their needs, propose alternatives to the car, establish a mobility budget or draw up a mobility policy. We offer bicycle leasing, sometimes in combination with car leasing. We strongly believe in multimodality and mobility-as-a-service solutions: the option to combine different transport modes and pay for them without too much hassle. This is also one of the specialities of our partner Optimile."

Are companies and their employees open to this idea?

"The idea of employees no longer saying 'I have this amount for my car in my salary package', but rather 'I have this amount for my mobility'  is gaining traction. People are already paying for use rather than ownership in gyms or for streaming services. Mobility is going down the same route, with car-sharing and flat-rate subscriptions, making costs more predictable for businesses and private individuals. But the pace of change will also depend on the success of the federal mobility budget. For now, uptake is slow."

 

BNP Paribas Fortis SA/NV – Montagne du Parc/Warandeberg 3 – 1000 Brussels – VAT BE 0403.199.702 – RPM/RPR Brussels

Optimile SA/NV – Sassevaartstraat 46 bus 204, 9000 Ghent – RPM/RPR Ghent – VAT BE 0648.837.849 – www.optimile.eu – BNP Paribas Fortis SA/NV holds a greater than 10% stake in Optimile SA/NV.

Arval Belgium NV, Ikaroslaan 99, 1930 Zaventem – Brussels Register of Companies – VAT BE 0436.781.102.

Touring SA/NV, Koning Albert II-laan/Avenue Roi Albert II 4 B12, 1000 Brussels – Brussels Register of Companies – VAT BE 0403.471.401, is registered under this number with the FSMA, Rue du Congrès/Congresstraat 12-14, B-1000 Brussels, and acts as an associated agent on commission for AG Insurance SA/NV. AG Insurance SA/NV owns a greater than 10% stake in Touring SA/NV.
Article

01.12.2023

Investment grants for your business

Belgium’s three regions provide a range of grants for companies and self-employed people making investments. Our experts can help you make sense of the situation and submit your application.

The terms and amounts of investment grants vary greatly from one region to another. The applicable rules depend on the location of the operational entity making the investments. The company’s registered office is not relevant and can be located in any country. You should also bear in mind that applying for a grant is still a fairly cumbersome administrative process. That’s why our experts take care of all the steps, from submitting the grant application to collecting the grant money.

Flanders: a range of grants

Various types of grants are available in Flanders, the most important of which are support for strategic transformations, the ecology bonus, strategic ecological support, the SME e-wallet and the SME growth subsidy.

Each type of support targets different types of investment and different companies. Subsidy levels also vary widely, from 8% for a strategic investment by a large company to 50% for consultancy fees paid by an SME.

Our experts can help you identify subsidy opportunities and then arrange for you to meet a specialist from VLAIO, the Flemish Agency for Innovation and Entrepreneurship, who will then help you with the rest of your application.

Wallonia: traditional and ecological aid

In Wallonia, investment grants are reserved for companies operating in a limited number of eligible sectors. Excluded activities include retail, transport and the liberal professions.

The terms and conditions also differ according to the size of the company. Small businesses must invest a minimum of €25,000. Large companies need to reach higher thresholds and invest in a development zone.

Examples of eligible business investments include buying/building a property, buying land and buying new business equipment.

The basic grant varies from 4% to 6%, but can be higher if the applicant creates jobs, takes an innovative approach or diversifies abroad, for example. A larger grant, up to 20%, may be obtained for projects that promote the sustainable use of energy and environmental protection.

Please note that it is essential to submit the request before any firm investment commitment is made: investments for which you have already accepted a quote can no longer be subsidised.

Our experts can guide your company through the entire process.

Brussels: the most generous

The Brussels subsidy for investments in goods, property or works is open to most sectors. In total, around 80% of the capital's economic activities are eligible for grants. The two main exceptions are education and real estate.

To qualify for a grant, the investment project must be worth at least €10,000 for a start-up business and at least €15,000 in other cases, depending on the size of the business. In addition, it must aim to develop or improve an existing activity: simple replacement expenditure does not qualify.

The aid can amount to up to 30% of the investment, although the average is 12.5%. The level of subsidy depends on a number of criteria, such as whether the company is a start-up and whether the investment will increase the number of people employed by more than 30%.

Over the course of 2024, reforms to the aid system will increase incentives for sustainable and circular economy projects.

Please note that it is essential to submit the request before any firm investment commitment is made: investments for which you have already accepted a quote can no longer be subsidised.

Our experts can guide your company through the entire process.

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