As a follow-up to the proceedings of the 2nd call for financial support for SSE ventures by Co-Fund, we are announcing the results of the assessment of the applications we received, in accordance with the company’s internal regulations — specifically paragraphs 2.2, 2.3, and 2.4. At the first stage of assessment, the General Assembly approved three of the four applications received as adequate and compatible with Co-Fund’s current risk-taking capacity.
Since the three approved applications exceed the €10,000 available under the call, we are proceeding to a vote among the community’s regular subscribers, which will determine the order in which the funding disbursements are implemented — with the last disbursement to take place as soon as the corresponding resources have been raised and provided the venture still wishes to proceed. To this end, the General Assembly has carried out an advisory scoring of the applications, which we are publishing in the interest of transparency in Co-Fund’s operations.
The relevant assessments, based on the available material submitted with each application and the deliberation among Co-Fund’s team members, are set out below:
Synallois
Urban Supply Cooperative for Solidarity Economy
More information: https://synallois.org/
Activity
The venture is engaged in fair and solidarity trade, operating a general store with relevant goods in Thiseio. The venture’s primary cooperation within the framework of fair and solidarity trade is with the Zapatista coffee cooperative Yachil Xojobal Chulchan. They import the coffee directly in raw form, process it, and sell it — both retail at their store and wholesale primarily to SSE ventures.
Funding Proposal
Working capital for the purchase of Zapatista coffee.
Over the past two years, sales of Cafe Compañero have increased by 38% and the venture is targeting further growth. A potential grant from Co-Fund would facilitate the implementation of the coffee sales development plan, which has been put on hold due to a lack of liquidity. For this reason, the venture is requesting funding of €5,000 as a supplement to the capital required for importing the coffee.
General Assembly Assessment
A. The business proposal is assessed as quite mature and particularly low-risk, owing to the venture’s many years of experience with this specific commercial activity and its consistently positive financial results in previous years (5.0).
B. The social utility of the proposal is also assessed as high, as it fully aligns with the venture’s core activity of alternative and solidarity trade (4.6).
C. The ecological footprint is initially assessed as quite high, since the coffee in question is cultivated under conditions of absolute respect for the natural environment and the enhancement of biodiversity. The need for transportation clearly has a negative impact on the ecological footprint, but given the constraints of any alternative, the overall footprint is assessed positively (4.1).
D. The ratio of fixed to variable capital for which the requested funding is intended is assessed as low, given that the entire investment is earmarked for liquidity rather than the purchase of equipment (1.0).
E & F. The number and nature of the jobs which, according to the submitted business plan, are expected to be created upon the venture’s full development, are assessed as moderate, as one new job is planned to be created within a two-year horizon (2.9).
G. The degree of collaboration with other SSE ventures is assessed as high, as the venture works closely with several SSE ventures (clients and suppliers) (4.4).
H. The presence of other SSE ventures with a similar field of activity in the same geographic area is assessed as moderate (2.8).
I. The level of the requested funding (€5,000) is assessed as moderate, as it represents half of the total amount available for funding (3.0).
| Criteria | Synallois |
|---|---|
| Maturity of business proposal and risk | 5.0 |
| Social utility | 4.6 |
| Ecological footprint | 4.1 |
| Fixed / variable capital ratio of funding | 1.0 |
| Number of new jobs by type / funding capital | 2.9 |
| Degree of collaboration / networking with other ventures | 4.4 |
| Geographic density of field of activity | 2.8 |
| Funding amount ratio to available capital | 3.0 |
| Total | 27.8 / 40 |
Apano Meria
Social Cooperative Enterprise for Collective and Social Benefit
More information: https://www.apanomeria.org/
Activity
The venture has created a Co-Working, Research and Volunteering Space — a space that supports research and volunteering on the island of Syros. Young scientists and volunteers from around the world can come to the space, which provides them with accommodation, food, and the opportunity to socialise with like-minded people. The aim is to create a realistic counter-model to mass tourism in the Cyclades.
Funding Proposal
Working capital to bridge the funding gap between disbursements from the Regional Operational Programme (ROP) of South Aegean.
The venture has been included in the ROP of South Aegean for the creation of the research base. A potential grant from Co-Fund aims to ensure the liquidity required for the smooth implementation of the ROP. To this end, the venture is requesting funding of €5,000 to cover expenses and equipment purchases for the Co-Working, Research and Volunteering Space it has created.
General Assembly Assessment
A. The business proposal is assessed as mature and particularly low-risk. The venture’s inclusion in the ROP of South Aegean is a positive factor that significantly reduces risk, despite the absence of positive financial results (4.5).
B. The social utility of the proposal is also assessed as high, as it aims to create a counter-model of sustainable visitability in the face of mass tourism and the polluting industry (4.0).
C. The ecological footprint is assessed as quite high, given that the venture’s activity seeks to showcase the protected area of Apano Meria in a sensitive manner and to generate valuable primary scientific data through the activities to be developed under the Juniperus programme (4.8).
D. The ratio of fixed to variable capital for which the requested funding is intended is assessed as low, given that the entire investment is earmarked for strengthening the venture’s liquidity (1.0).
E & F. The ratio and nature of the number of jobs which, according to the submitted business plan, are expected to be created upon the venture’s full development, are assessed as low, as no new jobs will be created (1.8).
G. The degree of collaboration with other SSE ventures is assessed as high, as the venture is active in SSE bodies in the area and its members participate in similar ventures, e.g. ART KOINSEEP and the Solidarity Energy Community of South Aegean (4.0).
H. The absence of other SSE ventures with a similar field of activity in the same geographic area is assessed as high (4.6).
I. The level of the requested funding (€5,000) is assessed as moderate, as it represents half of the total amount available for funding (3.0).
| Criteria | Apano Meria |
|---|---|
| Maturity of business proposal and risk | 4.5 |
| Social utility | 4.0 |
| Ecological footprint | 4.8 |
| Fixed / variable capital ratio of funding | 1.0 |
| Number of new jobs by type / funding capital | 1.8 |
| Degree of collaboration / networking with other ventures | 4.0 |
| Geographic density of field of activity | 4.6 |
| Funding amount ratio to available capital | 3.0 |
| Total | 27.7 / 40 |
Corfu Meals
Workers’ Cooperative
More information: https://www.facebook.com/7CorfuMeals
Activity
The venture is engaged in the production of ready-made meals and operates a grocery store in the village of Chorepiscopoi in northern Corfu.
Funding Proposal
Working capital to expand the grocery store’s operations.
The venture is requesting funding of €4,000 for the purchase of equipment (shelving), the enrichment of the grocery store’s product range, and the coverage of various current needs. A potential grant from Co-Fund would contribute to boosting the venture’s revenues and, by extension, its efforts to complete the purchase of the necessary kitchen equipment for the production of ready-made meals.
General Assembly Assessment
B. The social utility of the proposal is assessed as high, given that the venture is the only one serving the residents and visitors of the area, including elderly residents without access to transport and the support of vulnerable citizens with very low incomes (4.3).
A. The business proposal is assessed as satisfactory with a moderate level of risk, as the venture has shown stability in previous years. However, the projected future increase in turnover is not sufficiently substantiated (3.1).
C. The ecological footprint is assessed as moderate, as this particular funding proposal does not aim to further reduce it. Within the broader activity of the venture, however, actions with a positive ecological footprint are encouraged, such as recycling and the creation of a “green corner” (3.1).
D. The ratio of fixed to variable capital for which the requested funding is intended is assessed as low, given that the larger part of the investment is earmarked for the purchase of products rather than equipment (2.0).
E & F. The ratio and nature of the number of jobs which, according to the submitted business plan, are expected to be created upon the venture’s full development, are assessed as moderate, as the creation of a new position is not certain (2.4).
G. The degree of collaboration with other SSE ventures is assessed as low, as the venture has no collaborations with other SSE ventures or organisations (1.9).
H. The absence of other SSE ventures with a similar field of activity in the same geographic area is assessed as high (4.6).
I. The level of the requested funding (€4,000) is assessed as moderate, as it is slightly less than half of the total amount available for funding (4.0).
| Criteria | Corfu Meals |
|---|---|
| Maturity of business proposal and risk | 3.1 |
| Social utility | 4.3 |
| Ecological footprint | 3.1 |
| Fixed / variable capital ratio of funding | 2.0 |
| Number of new jobs by type / funding capital | 2.4 |
| Degree of collaboration / networking with other ventures | 1.9 |
| Geographic density of field of activity | 4.6 |
| Funding amount ratio to available capital | 4.0 |
| Total | 25.4 / 40 |
