Results from the 1st phase of the FAD-INS voucher project

4 MARCH 2013

On 30 November 2012, the FAD-INS project closed the first year of its implementation phase. The Chamber of Commerce of Barcelona has now announced the successes booked in this first period of the innovation vouchers pilot scheme.

The FAD-INS voucher project
The FAD-INS project is an innovation voucher scheme managed by the Chamber of Commerce Barcelona. The overall ambition of the project is to demonstrate the viability and efficiency of innovation vouchers as key elements in innovation financing.

Specific objectives of FAD-INS:

  • To implement an innovation voucher scheme targeting the fashion, industrial design and audiovisual sectors.
  • To enable networking and matchmaking.
  • To reduce administrative requirements.
  • To deliver “on demand” support for innovation.
  • To deliver more and better innovation support activities.
  • To ensure the long term sustainability of innovation vouchers.

In the project scheme, SMEs can apply for a voucher which can be exchanged for services from local providers aimed at boosting the competitiveness through consultation and adoption of innovative strategies for the SMEs concerned. The Chamber of Commerce Barcelona has been responsible for coordinating the access of SMEs to the scheme and for facilitating match-making between the SMEs and service providers.

Read more about the project on the ECIA webpage on FAD-INS.

FAD-INS workshop Sept. 2012

Photo: FAD-INS workshop in Sept. 2012, organized by the Chamber of Commerce Barcelona

FAD-INS Results for 2012
There are two calls for participants engaged in the project, the first of which was opened in June 2012. During this call both SMEs and service providers applied to the scheme. After an intensive series of match-making events carried out by the Chamber, 22 dynamic, early-stages SMEs were able to make use of the services provided in order to implement innovative new processes, redefine or adjust their business models, and better position themselves in their target markets. The SMEs were awarded with vouchers of either €3.500€ or €4.750, depending on the scope and ambition of the project defined with the service provider.

Spreading the name of FAD-INS
In addition to the overall management and coordination of the project, several dissemination events were undertaken by the Chamber of Commerce of Barcelona to promote the innovation voucher scheme and ensure the uptake and success of the project.

Notable among the different events was the organization of three workshops that gathered SMEs, providers and local institutions. Also, a side-event was held during the ‘The Brandery Summer Edition’ (13 July 2012), an international trade-fair for the fashion and design industries organized in Barcelona, where the project was presented to an enthusiastic audience of young entrepreneurs. In addition, the Chamber of Commerce of Barcelona have ensured the reporting of the project in both printed and online regional and national media, as well as an energetic social media campaign through various platforms.

The Chamber of Commerce of Barcelona hopes to demonstrate the added-value that innovation vouchers can bring to early stage SMEs and capitalize on the project by ensuring that innovation voucher schemes feature more prominently in local economic policies in the future.