Pomoc publiczna w formie kapitału podwyższonego ryzyka udzielana przedsiębiorstwom sektora MŚP w krajach Unii Europejskiej

 The aim of this article is to present the conditions of admissibility of state aid in the European Union, with particular emphasis on horizontal aid granted in the form of risk capital. Encouraging the development and expansion of new businesses, especially innovative and high-growth businesses, can have a great potential to create jobs. Therefore, an efficient risk finance market for SMEs is crucial for entrepreneurial companies to be able to access the necessary funding at each stage of their development. The existence of a financing gap affecting SMEs, small mid-caps and innovative mid-caps may justify public support measures including through the grant of State aid in certain specific circumstances. If properly targeted, State aid to support the provision of risk finance to those companies can be an effec- tive means to alleviate the identified market failures and to leverage private capital.

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