and Territories Association
1 project taking place in the OCTs / 2 organisations
COSME is the EU programme for the Competitiveness of Small and Medium Entreprises.
As a novelty for the 2021-2027 MFF, the Single Market Programme (SPM) comes to integrate COSME as part of the EU larger initiative to improve the functioning of the Internal Market.
OCTs are eligible to COSME and the future Single Market Programme.
The Single Market Programme (SPM) will have a buget of EUR 4.2 bn, which will comprise:
The current activities of the COSME programme will be divided between the SMP and InvestEU. The main COSME programme, including the grants, public procurement and the Europe Enterprise Network (EEN), will be under the Single Market Programme umbrella.
The SME window – the financial instruments – will be under InvestEU.
COSME is a comprehensive action that encompasses many different activities to support the Small and Medium Enterprises.
OCTs are already involved in several of the actions, such as the Europe Enterprise Network (EEN), which is dedicated to developping the access to markets, where New Caledonia and French Polynesia are already successfully involved as part of a large French consortium. Other COSME actions where OCTs have been participating include Erasmus for Young Entrepreneurs.
The programme is centrally managed by the European Commission.
However, the Commission works with financial institutions to improve the funding available to SMEs by stimulating the provision of loans and venture capital through financial instruments.
The Commission also helps EU countries share good policy on improving access to finance which allows them to benefit from the experience of others.
Therefore, the EC does not allocate direct funding to SMEs, they must apply at local/regional level via financial intermediaries such as banks that will provide the funding through financial instruments.
The EEN plays a central role in disseminating information and preparing SMEs to successfully apply to COSME activities, thanks to their client-based approach, where they help SMEs to navigate the system and base their success in the proximity and being inserted in the ecosystem.
Their role is to support SMEs to identify the right opportunities for them, and then prepare them how to apply for the financing with the specific financial providers.