A Look at the Portuguese World

 

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The manager of portugal 2020

Written by  yvette vieira fts Bárbara Fernandes

Filipe Santos is the president of Portugal Social Innovation initiative that aims to achive the basis for the creation of sustainable enterprises with innovative social causes, promoting job creation, combating poverty and social economy that is not dependent on public funds in the future.

What it is Portugal Social Innovation?
Filipe Santos: I am manager of a new public initiative called Portugal social innovation within the Portugal 2020, we are supporting innovative projects in the social area and give sustainable responses to society as aging, youth employability and combating poverty. We are looking for new answers to these problems and try to encourage innovative social projects that I am developing. Before the initiative was a mapping of social innovation that began on the main land and has identified more than 150 high potential impact initiatives, this maping is also happening in Madeira to identify who are the innovators good social and employers and then sought to finance and help to grow these initiatives with great merit.

I noted that one of the initiatives is the maping, but are 150 million euros for 4 proposals, in addition to that what you want to do?
FS: What we have in the Portugal 2020 are European funds, we have over 7 years the amount of financing of 150 million to enable the social economic entities, also develop co-finance innovative projects where entities can receive private support for their project and thus leverage financing. We are also working on models of verification results.

It is the social impact result?
FS: Yes, it is a funding model in which the entity is paid comparing the results they get and that are requested and validated rigorously. The fourth instrument is more closely linked to the economy which is a fund for the social innovation that will basically move private capital to invest in projects with social impact and how to generate revenue that may return to these investments. I'm talking about loans, to facilitate access to credit for entrepreneurs and social innovators, the latter instrument is a refundable financing and has to be returned. The first three models, training, co-financing of private entities and securities financing social impact are all lost funds.

You focused on your presentation that there is already an intervention in the North, Centre and Alentejo. There are differences in terms of social projects in these various areas of Portugal?
FS: In terms of social innovation exists. There are social plans that are common, however, the Alentejo has a big problem of aging and isolation of the elderly and poor ability to fix the young. The North has a population that is not so aged and has many young people, some of the municipalities have lower economic levels struggling to provide jobs, but on the other hand has a lot of potential in terms of innovation and energy of people. The center is a mixed and has some strong business centers.

And social projects are distinguished for having these geographical differences?
FS: Yes there is some diferences in some of the projects and I would say the North is the most active region in the area of social entrepreneurship, is the one that has more projects because it has a youth segment, many universities that generate a critical mass, energy and ideas.

I also notice that the social economy and innovation is one of the global trends. This economic model emerges from the crisis and the capitalism that fails with people and then have arisen this new branch in the global economy?
FS: I think the dynamics of entrepreneurship and social innovation was created and was generated before that, already in the 80s there has been a growing and social entrepreneur effort and a certain interest of certain public and private partners in this area. I think in fact the 2007 economic crisis has led to a look much closer to the work of social entrepreneurs and try to find ways to support them because they feel it is a very interesting way to address problems that the state and the market has not been able to solve. I think the crisis in the last 8.9 years has increased interest in social entrepreneurship, but this dynamic already existed.

In respect of the innovation in Portugal and these start-ups that appear in the market and there are already many in the US, as I know you taught in that country, notice differences between the Portuguese and other countries where this form of entrepreneurship is more pronounced?
FS: Yes, there are some differences. In less developed countries, Latin America and Asia too there is that idea that today we speak of social base of the pyramid business, or are great nations with a lot of poverty and there needs are not met and that in Portugal already exist. For example, how to get running water, electricity and medicine to hundreds, thousands and millions of people who do not access to these services? If we can get there with a low cost model that makes money, because these people need these products and can pay a small fee for health, energy, we have created sustainable business and this is a very strong dynamics for the least developed countries. In Europe and North America, the so-called Western world, it has much more to do in conjunction with the State, to find efficient ways to provide sevices that are from the perspective of public policy and try with this innovation reduce the costs that the state has with these problems, namely to achieve the fund social sector to develop these more cheaply valences than creating a heavier structure and do it in an univesal way for everyone. I would say that there are differences in countries like the United Kingdom in the social innovation financing models are very developed compared with countries in Southern Europe, but I think there is a common spirit in terms of entrepreneurship in the social version, particularly in younger groups of the population between 30 and 35 years of age and that is very common in all countries.

You said public supports developed countries. It means that the social economy can never abstain from state support?
FS: I think in some cases it may, some models as mentioned can manage income and therefore become sustainable in the market. Then clearly, the least developed countries this is a way to open new markets for people with low economic power. In terms of Europe, many say areas that are failing are where the state should act, the inclusion of people with disabilities, to combat poverty and the issues of youth unemployment. The facility code promotes employability and is commercially sustainable, crosses a market need with the need for young people to find employment, but the fight against poverty will have to have some support, or at least a joint public policy to not to duplicate. This articulation between the State and the social economy must exist and be enhanced, the financing models is what has to be worked out.

2020 what are the objectives that must be completed on that date?
FS: By 2020 we should have been able to mobilize this funding we have in innovation projects and social entrepreneurship and do it in a way where it has created social innovation market, ie, created dynamic investors who want to continue working on this investment logic and which are not dependent on public investment, we do not want in 2020 ending up European funds and everything stops. We wish to lay the foundation for the market to continue to act even past the stage of public funding and for this we counted finance initiatives directly, but also work with intermediaries cofinancing these projects and let them to foundations and investors to identify good projects because it is more sustainable than us to be at the level of public entity trying to figure out the best projects.

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