The COVID-19 pandemic has had an undeniable impact on MSMEs. Lack of knowledge about how to use programmes and incentives to support business ventures, a lack of equity and access to funding sources, and the system's bureaucratic procedures are some of the challenges identified by Mediterranean MSMEs in a market study conducted by the CRE@CTIVE project partners.

Hence, the CRE@CTIVE project is developing an online application that defines the different Financial instruments available to activate the sectors.

The FI@CTIVE tool is an online application that allows public figures and financial institutions to create a financial ecosystem. Based on the data submitted by financial institutions in each region, the tool generates a report that performs a strategic diagnostic of the financial assistance provided to businesses. Furthermore, the tool analyses territorial status by comparing regions, assisting authorities in decision-making.

This tool evolved from a database created as part of the Interreg project "INNOVA-FI," and it is currently being updated and enhanced to have a more user-friendly interface and to be used online. 

What differentiates FI@CTIVE is that it will be an online tool, not an excel spreadsheet with information, but a platform that financial institutions from across the Mediterranean can access. Furthermore, the user interface of this platform is user-friendly and straightforward, and it can handle a greater volume of data. Because of its user-friendly interface, public authorities and financial institutions may quickly analyse and transmit best practices between nations.

The CRE@CTIVE team is actively developing the FI@CTIVE tool, so follow us and stay tuned as we soon publish it and the research studies!