COSME programme

The programme for the Competitiveness of Enterprises and Small and Medium-sized enterprises 2014-2020, established by Regulation (EU) №1287/2013, at the European Parliament of 11 December 2013 or better known as COSME programme is aimed at specific needs of SMEs.

COSME programme is based and further improves the Entrepreneurship and Innovation Programme (EIP), established in 2007-2013, according to Innovation Framework Programme (CIP), with the exception of innovative activities that will be supported by the program "Horizon 2020".

The European Commission is responsible for implementing the programme COSME, as partially delegate and the European Executive Agency for Small and Medium Enterprises (EASME) and the European Investment Fund - for financial instruments.

COSME programme has a total budget of 2.3 billion for the period 2014-2020, including the following 4 areas of support:

  • Improving access to finance for SMEs in the form of equity and debt;
  • Improving access to markets for SMEs, particularly inside the Union but also at global level;
  • Improving framework conditions for the competitiveness of enterprises;
  • Promoting entrepreneurship.

The COSME programme is foremost a funding instrument that will improve access to finance for SMEs. For this purpose the period 2014-2020, nearly 1.4 billion euro of COSME budget is allocated to loans and venture capital, which may be complemented with the use of national financial instruments for SMEs. Financial instruments of COSME programme include a Loan guarantee facility (cover loan guarantees to € 150 000 for SMEs) and an Equity facility for growth (support for venture capital funds, with a particular focus on expansion and growth phase SMEs).

The expectations as a result are the following:

  • By 2020 from 220 000 to 330 000 firms will receive loans backed by COSME guarantees, with the value of lending to reach 22 billion euro;
  • By 2020, from 360 to 540 firms to gain COSME receive venture capital investment in investment volume reached 4 billion euro;
  • Incentive impact – one euro invested in loan guarantees for SMEs will mobilise between 20-30 additianal euros and for venture capital the ratio is expected to be between 4-6 additional euros;
  • Economic impact - every year COSME contribute to an increase in the European GDP by 1.1 billion euro and supporting 40 000 companies in creating or saving 30 000 jobs and launching 1 200 new business products, services and processes.

The remaining 1 billion euro from the budget of the programme COSME will dedicate for much of the successful programs of the previous programming period of the program CIP.
These are funding the network Enterprise Europe Network, which has more than 600 offices in the EU and beyond, including in Bulgaria, the internationalization of SMEs, support for clusters, program "Erasmus for Young Entrepreneurs", in entrepreneurial training, helpdesks on IPR SME and programs to reduce the administrative burden on businesses.

By COSME programme will support and implementation of EU policies in favor of SMEs in the Member States, and the promotion of entrepreneurship, especially among new entrepreneurs, young people and women entrepreneurs.

The official website of the program COSME is

E -mail:

The calls for expression of interest for the COSME financial instruments were launched. Please find more detailed information following the links below.

COSME Loan Guarantee Facility:

COSME Equity Facility for Growth:

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