commiss decis octob aid scheme quot invest northern ireland ventur quot unit kingdom plan implement sme northern ireland notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis regard comment procedur letter date march regist commiss march unit kingdom author notifi invest northern ireland ventur scheme commiss letter date letter date august commiss request inform notifi measur letter date june letter date septemb regist commiss juli octob unit kingdom author submit inform request letter date novemb commiss inform unit kingdom decid initi procedur laid articl ec treati respect measur commiss decis initi procedur publish offici journal european union commiss call interest parti submit comment letter date januari regist commiss januari unit kingdom submit respons commiss decis initi procedur letter date februari februari march march march march march regist commiss march march march march march commiss receiv observ interest parti letter date march commiss forward comment unit kingdom opportun react unit kingdom opinion parti comment receiv letter date april regist commiss letter date june regist commiss june unit kingdom submit addit inform notifi measur ii detail descript measur object measur measur intend provid risk capit fund small medium size enterpris sme northern ireland establish ventur capit fund invest northern ireland ventur fund refer fund intend address financ difficulti encount sme northern ireland februari commiss approv small medium enterpris ventur capit loan fund umbrella scheme region unit kingdom includ northern ireland small medium enterpris ventur capit loan fund regul establish ventur capit fund specialis risk capit fund sme unit kingdom gibraltar decis februari commiss approv state aid ventur capit econom area qualifi assist pursuant articl ec treati maximum eur singl tranch northern ireland classifi area qualifi assist articl ec treati invest sme northern ireland small medium enterpris ventur capit loan fund umbrella scheme restrict eur singl tranch except challeng encount northern ireland unit kingdom author mean notifi measur intend provid risk capit financ gbp eur million singl tranch sme northern ireland exceed maximum invest size tranch approv decis small medium enterpris ventur capit loan fund materi aspect notifi measur respect condit laid decis small medium enterpris ventur capit loan fund descript measur legal basi scheme legal basi scheme articl industri develop northern ireland order budget scheme unit kingdom propos establish gbp million eur million gbp million eur million ventur capit fund gbp million eur million rais govern contribut reduc pro rata gbp million eur million rais fund accept addit invest privat sector investor govern fund increas level circumst public contribut fund exce total fund volum durat scheme fund newli set year limit partnership extend consent investor maximum year facilit success exit fund beneficiari scheme scheme appli small medium size enterpris northern ireland firm difficulti exclud scheme fund provid busi sector suffer overcapac includ shipbuild european coal steel commun sector size invest fund make invest beneficiari sme rang gbp eur gbp million eur million occas follow invest made round fund decis independ previou invest decis base perform recipi sme cumul aid scheme unit kingdom author state sme receiv risk capit fund scheme durat invest elig region aid sme aid reduc aid intens found compat commiss ground initi procedur commiss commun state aid risk capit refer commun recognis role public fund risk capit measur limit address identifi market failur commun state specif factor advers affect access sme capit imperfect asymmetr inform high transact cost market failur justifi state aid commun state gener risk capit market failur commun market gap type invest stage enterpris live difficulti region qualifi assist articl ec treati assist area commun explain gener commiss requir provis evid market failur prepar authoris risk capit measur commiss prepar accept exist market failur provis evid case tranch financ enterpris risk capit measur wholli partial financ state aid compris maximum eur assist area eur area qualifi assist articl treati eur million area qualifi assist articl treati case amount exceed commiss requir demonstr market failur justifi propos risk capit measur assess compat measur accord posit neg criteria list point viii commun invest northern ireland ventur scheme propos unit kingdom forese risk capit invest rang gbp eur gbp million eur million invest tranch sme northern ireland region aid map unit kingdom northern ireland classifi area qualifi assist pursuant articl ec treati line provis commun commiss prepar accept exist market failur provis evid risk capit fund sme northern ireland wholli partial financ state aid limit maximum amount eur foreseen assist area pursuant articl ec treati point vi commun notif unit kingdom clarifi except propos maximum tranch size gbp million eur million materi aspect propos measur line approv small medium enterpris ventur capit loan fund commiss consid decis small medium enterpris ventur capit loan fund cover invest propos invest northern ireland ventur scheme rang gbp eur gbp eur singl invest tranch line provis commun risk capit invest propos invest northern ireland ventur scheme rang gbp eur gbp million eur million necessit provis evid market failur unit kingdom order demonstr exist market failur unit kingdom refer distinct particular ventur capit market northern ireland underlin studi main argument brought forward gap provis ventur capit sme northern ireland deal size rang gbp eur gbp million eur million whilst market failur exist region economi pronounc northern ireland reason ventur capit market northern ireland lag year rest unit kingdom term total invest number deal number fund avail fund manag skill ii size northern ireland market fact physic separ rest unit kingdom long last impact civil unrest northern ireland result absenc wholli privat sector ventur capit fund local base invest northern ireland sme mainland unit kingdom iii addit difficult attract experienc fund manag northern ireland letter date novemb commiss inform unit kingdom decis initi procedur laid articl ec treati respect invest northern ireland ventur scheme letter commiss state doubt argument present unit kingdom support exist market failur suffici justifi grant risk capit invest tranch consider exceed maximum amount foreseen commun area qualifi assist pursuant articl ec treati commiss explain consid analysi issu analysi includ observ made interest parti consider parti comment commiss decid measur propos unit kingdom affect trade condit extent contrari common interest iii comment interest parti respons public decis open formal procedur offici journal european union commiss receiv observ interest parti enterpris equiti ni limit momentum northern ireland qubi limit ulster farmer union cbi northern ireland institut director northern ireland invest belfast limit inter trade ireland bdo stoi hayward ulster societi charter account intern fund ireland comment receiv posit underlin import measur appropri propos maximum invest amount argument put forward interest parti highlight difficulti local compani northern ireland rais equiti fund gbp million eur million gbp million eur million result factor ventur fund rest unit kingdom increas minimum invest level mirror northern ireland peripher northern ireland advers influenc fund term cost fund rest unit kingdom republ ireland larg uninterest invest deal size local northern ireland fund capabl undertak invest gener misplac neg percept due civil unrest past continu advers affect attitud investor northern ireland invest locat iv comment unit kingdom unit kingdom comment commiss decis open formal procedur laid articl ec treati observ parti summaris recit number gener econom weak address order improv competit posit northern ireland northern ireland gross domest product gdp capita unit kingdom averag unit kingdom averag gap narrow margin percentag point economi product measur gdp employe northern ireland unit kingdom unit kingdom averag high depend small busi busi total emploi fewer peopl emploi fewer peopl manufactur remain depend low ad quot tradit sector quot high ad busi servic sector half size unit kingdom equival small number knowledg base busi compar unit kingdom region low level innov amp activ lowest start rate unit kingdom region shortag debt equiti financ start compani addit gener econom weak ventur capit market northern ireland underdevelop compar unit kingdom region level ventur capit invest northern ireland period repres unit kingdom total ventur capit invest compar northern ireland share unit kingdom gdp ventur capit activ northern ireland increas time current level match capita level unit kingdom region wale scotland number gener factor relat phenomenon peripher locat northern ireland significantli disadvantag geograph locat growth indigen busi growth local economi sever limit year due civil unrest grant cultur arisen due govern interven northern ireland industri develop activ higher level unit kingdom busi dispos take equiti fund establish recent year gener adequ deal flow broaden rang quantiti investor northern ireland poorli repres ventur capit small number local base fund focus small deal size ventur capit fund manag maintain full time presenc region major ventur capit fund offer invest gbp eur studi suggest averag size earli stage fund technolog busi increas market matur northern ireland equiti gap round fund year expect rang gbp eur gbp million eur million recognit increas scale project predict increas demand commerci size fund gbp million eur million establish northern ireland year govern assist fund unit kingdom comment make respons parti highlight strong support express parti establish propos fund assess measur commiss examin scheme light articl ec treati basi commun result assess summaris recit legal notifi scheme unit kingdom author respect oblig articl ec treati exist state aid unit kingdom confirm except allow maximum amount risk capit fund singl tranch materi aspect invest northern ireland ventur scheme line commiss decis small medium enterpris ventur capit loan fund commiss assess exist state aid case assess made decis decis small medium enterpris ventur capit loan fund commiss state line point iv commun assess presenc state aid account possibl risk capit measur confer aid level commiss conclud small medium enterpris ventur capit loan fund involv state aid mean articl ec treati level investor level beneficiari sme commiss consid state aid mean articl ec treati present level fund unsecur loan grant sme prevail refer rate percentag point secur loan prevail refer rate assess valid assess notifi measur decis evid market failur line provis commun commiss prepar accept exist market failur provis evid risk capit fund wholli partial financ state aid sme area qualifi assist pursuant articl ec treati limit maximum amount eur foreseen point vi commun measur propos unit kingdom forese risk capit invest rang gbp eur gbp million eur million invest tranch sme northern ireland region aid map unit kingdom northern ireland classifi area qualifi assist pursuant articl ec treati region aid map unit kingdom northern ireland consid quot atyp quot articl region region aid ceil gener reserv region qualifi assist articl line provis commun commiss inform unit kingdom view fact propos risk capit invest notifi scheme exce eur threshold foreseen area qualifi assist pursuant articl unit kingdom provid evid market failur order demonstr exist market failur risk capit invest exceed eur sme northern ireland unit kingdom present argument indic ventur capit market northern ireland characteris uniqu particular distinguish region unit kingdom argument put forward unit kingdom support studi underlin exist gap provis privat ventur capit sme northern ireland deal size rang gbp eur gbp million eur million market gap occur region economi unit kingdom submit pronounc northern ireland demonstr studi submit unit kingdom studi ventur capit activ northern ireland term number deal deal vari significantli unit kingdom region scotland north west merseysid region number deal earli stage compani scotland period unit kingdom total north west merseysid region unit kingdom total northern ireland account unit kingdom total compani expans stage respect figur unit kingdom total scotland unit kingdom total north west merseysid region unit kingdom total northern ireland regard deal earli stage expans phase studi show earli stage invest scotland repres unit kingdom total period north west merseysid region northern ireland unit kingdom total differ accentu deal compani expans stage scotland repres unit kingdom total north west merseysid region unit kingdom total northern ireland fact underlin data studi compar averag deal size period unit kingdom averag earli stage invest gbp million compar gbp million scotland gbp million north west merseysid region gbp million northern ireland sme expans stage differ pronounc averag unit kingdom gbp million gbp million scotland gbp million north west merseysid region reach gbp million northern ireland figur underlin rel weak ventur capit market northern ireland studi northern ireland gener account total invest unit kingdom repres share unit kingdom gdp sme expans phase explain ventur capit fund activ northern ireland exist activ ventur capit fund offer financ deal size rang gbp gbp million reach end invest period fund offer financ deal gbp studi submit commiss unit kingdom argu gap provis equiti financ deal size rang gbp gbp million relat gener socioeconom characterist northern ireland recit particular northern ireland peripher legaci civil unrest aggrav sourc market failur imperfect asymmetr inform high transact cost commun decis initi procedur laid articl ec treati respect propos aid measur commiss state view maximum invest amount propos scheme consider exce maximum invest amount foreseen commun seek observ interest parti order decid measur affect trade condit extent contrari common interest comment receiv interest parti posit underlin import measur gener appropri propos maximum invest amount take account inform present initi notif comment submit interest parti addit inform deliv unit kingdom commiss decis open procedur laid articl ec treati conclud unit kingdom provid suffici evid exist market failur ventur capit market northern ireland compat measur unit kingdom confirm except allow maximum amount risk capit fund singl tranch materi aspect notifi scheme line commiss decis small medium enterpris ventur capit loan fund assess compat notifi state aid assess made decis small medium enterpris ventur capit loan fund decis case commiss conclud posit element outlin point viii commun fulfil true respect invest northern ireland ventur fund element regard posit element restrict invest sme start earli stage sme seek expand diversifi focu risk capit market failur deliveri financ sme princip form equiti quasi equiti profit driven natur invest decis market economi investor provid capit fund profession fund manag invest decis remuner directli link perform fund minimis level distort investor invest fund investor chosen competit tender privat investor notic opportun invest virtu advertis person organis debar invest fund investor chosen select preferenti term order induc privat sector invest order prevent overcompens investor benefit split public privat investor respect level invest sector focu sensit sector exclud invest basi busi plan invest made basi robust busi plan varieti standard commerci test ensur viabil project expect commerci return avoid cumul aid measur singl enterpris unit kingdom author state sme receiv risk capit fund scheme durat invest elig region aid sme aid reduc aid intens found compat commiss conclud posit aspect requir commun present respect notifi scheme vi conclus conclud invest northern ireland ventur scheme fulfil condit set commun notifi measur declar compat common market pursuant articl ec treati aid facilit develop econom activ econom area advers affect trade condit extent contrari common interest adopt decis articl state aid unit kingdom plan implement invest northern ireland ventur scheme compat common market mean articl treati implement aid authoris articl unit kingdom submit annual report implement aid articl decis address unit kingdom great britain northern ireland brussel octob commiss mario monti member commiss oj footnot definit small medium size enterpris appli unit kingdom author purpos scheme line definit annex commiss regul ec januari applic articl ec treati state aid small medium size enterpris oj regul amend regul ec oj state aid unit kingdom quot small medium enterpris ventur capit loan fund quot commiss decis februari state aid unit kingdom quot region aid map quot oj oj quot market failur suppli ventur capit fund sme northern ireland quot invest ni octob