Social Entrepreneurship Supporting Network - SES Net, is an initiative lead by the Development Agency of Karditsa AN.KA. S.A. in collaboration with the bvba Helde, the Cooperative Bank of Karditsa and the Hellenic Agency for Local Development and Local Government (E.E.T.A.A.) supportedby theGreek Association of Cooperative Banks and Hellenic Ecological Recycling Society.
Its aim is the establishment of a social finance local partnership, starting from Karditsa (Thessaly, Greece), that would lead to a social finance instrument in order to fund social enterprises in Greece at an initial stage and if possible and depending on its success scaling it in other EU countries. That Social finance instrument would act as an attractor for additional social investments.
The value architecture of the Social Finance Partnership is to empower social and financial change through socially innovative finance tools and institutions.
The main objectives of SES Net are:
- The development of a model for financing SCEs Motivation of potential social entrepreneur.
- The development of a supplying-supporting capacity for Social Enterprises (SCEs) and potential entrepreneurs.
- Motivation of potential social entrepreneurs.
The initiative is part of Social Enterprise Finance, and co-funded by the European Commission.
The European Commission launched a call for proposals “Supporting the demand and supply side of the market for social enterprise finance” in response to the barriers often encountered in both the demand and supply side of social finance. The objective of the call was to identify, develop, promote and disseminate the good practice of national, regional or local governments and of financial intermediaries in assisting young social entrepreneurs at times of high youth unemployment.
Following the call for proposals, a total of 21 pilot projects accepted funding in four Strands (A, B, C and D). Eleven of the pilot projects were launched between January and June 2014 (first round of grantees) and the other ten started in September 2014 (second round of grantees).
“Social Entrepreneurship Supporting Network- SES Net” project is one of the pilots’ projects that approved at Strand A (first round of grantees) by DG Employment, Social Affairs & Inclusion of European Commission (Contract Number: VP/2013/017/0089).
Each of the grantees belongs to a Strand which should shape their activities and overall objectives of their projects. The Strands are as follows:
Strand A: Establishment of social finance partnerships
This Strand aims to deal with the “supply” aspect of social finance, notably in EU countries where the market for social finance is not yet developed. Its main aim is to help build partnerships.
Strand B: Establishment of social finance instruments and mechanisms
This Strand tackles the “supply” side of social finance markets, in countries where it is still burgeoning. Its main aim is to develop instruments to foster and formalise collaboration.
Strand C: Establishment of collaborative funding models for social enterprises.
This Strand deals with the “supply” aspect of social innovation, particularly in EU countries where various actors are operating in the social finance market on an individual, isolated basis. Its main aim is to foster market integration in these countries
Strand D: Development of investment readiness support for social enterprises.
This Strand tackles the “demand” side of social finance markets, with a view to strengthening the “investment readiness” of social enterprises.