natgillin/translations-raw huggingface dataset:
the majority of venture capital funds available offer investment of below GBP 500000 (EUR 730000);
Večina razpoložljivih skladov tveganega kapitala ponuja naložbe pod 500000 GBP (730000 EUR);
studies suggest that the average size of early stage funding for technology businesses increases as the market matures.
Študije kažejo, da se povprečna velikost financiranja v zgodnji fazi za tehnološka podjetja povečuje, ko trg zori.
For Northern Ireland, the equity gap for first round funding within the next five years is expected to be in the range of GBP 250000 (EUR 367000) to GBP 1,5 million (EUR 2,2 million);
Pričakuje se, da bodo razlike Severne Irske v lastniškem kapitalu za prvo stopnjo financiranja v naslednjih petih letih obsegale od 250000 GBP (367000 EUR) do 1,5 milijona GBP (2,2 milijona EUR).
in recognition of the increased scale of projects and predicted increases in demand, two or more commercial-sized funds of around GBP 15 million (EUR 22 million) each should be established in Northern Ireland over the next five years, one of which should be a government assisted fund.
Kot priznanje povečanega obsega projektov in predvidenega povečanja povpraševanja je treba v naslednjih petih letih v Severni Irski ustanoviti dva ali več skladov običajne tržne velikosti z okoli 15 milijoni GBP (22 milijoni EUR), eden izmed teh mora biti sklad z državno pomočjo.
The United Kingdom had no further comments to make on the responses from third parties except to highlight the strong support expressed by those third parties for the establishment of the proposed fund.
Združeno kraljestvo ni imelo nadaljnjih pripomb na odgovore tretjih strank, je pa poudarilo močno podporo, ki so jo te tretje stranke izrazile za ustanovitev predlaganega sklada.
The Commission has examined the scheme in the light of Article 87 of the EC Treaty and in particular on the basis of the Communication.
Komisija je shemo preučila glede na člen 87 Pogodbe ES in zlasti na podlagi sporočila.
The results of this assessment are summarised in recitals 56 and following.
Izidi te presoje so povzeti v uvodnih izjavah 56 in naslednje spodaj.
By notifying the scheme, the United Kingdom authorities respected their obligations under Article 88(3) of the EC Treaty.
Organi Združenega kraljestva so s priglasitvijo sheme izpolnili svoje obveznosti iz člena 88(3) Pogodbe ES.
The United Kingdom confirms that, with the exception of the allowable maximum amount of risk capital funding per single tranche, all other material aspects of the Invest Northern Ireland Venture 2003 scheme are in line with the Commission’s decision concerning the Small and Medium Enterprises Venture Capital and Loan Fund.
Združeno kraljestvo potrjuje, da so razen dovoljenega najvišjega zneska financiranja tveganega kapitala na posamezno tranšo vsi ostali materialni vidiki sheme Invest Northern Ireland Venture 2003 v skladu z odločbo Komisije glede Sklada tveganega kapitala in posojilnega sklada za mala in srednje velika podjetja.
The Commission’s assessment of the existence of State aid in this case, therefore follows the assessment made in that decision.
Zato presoja Komisije o obstoju državne pomoči v tem primeru sledi oceni iz te odločbe.
In its decision concerning the Small and Medium Enterprises Venture Capital and Loan Fund, the Commission stated that, in line with point IV.2 of the Communication, the assessment of the presence of State aid would need to take into account the possibility that a risk capital measure may confer aid at different levels.
V svoji odločbi glede Sklada tveganega kapitala in posojilnega sklada za mala in srednje velika podjetja je Komisija izjavila, da mora presoja prisotnosti državne pomoči v skladu s točko IV.2 sporočila upoštevati možnost, da je mogoče z ukrepom rizičnega kapitala zagotoviti pomoč na različnih stopnjah.
The Commission went on to conclude that the Small and Medium Enterprises Venture Capital and Loan Fund involved State aid within the meaning of Article 87(1) of the EC Treaty at the level of the investors and at the level of the beneficiary SMEs.
Komisija je sklenila, da Sklad tveganega kapitala in posojilni sklad za mala in srednje velika podjetja vključuje državno pomoč v smislu člena 87(1) Pogodbe ES na ravni vlagateljev in na ravni upravičenih MSP.
The Commission also considered that State aid within the meaning of Article 87(1) of the EC Treaty was not present at the level of the fund, or for unsecured loans granted to SMEs at the prevailing reference rate plus 4 percentage points or more, or for secured loans at the prevailing reference rate.
Komisija prav tako meni, da državna pomoč v smislu člena 87(1) Pogodbe ES ni prisotna na ravni sklada ali za nezavarovana posojila, dodeljena MSP po prevladujoči referenčni meri plus 4 ali več odstotnih točk ali za zavarovana posojila po prevladujoči referenčni meri.
That assessment is still valid for the assessment of the notified measure in this Decision.
Ta presoja je še vedno veljavna za presojo prijavljenega ukrepa v tej odločbi.
Evidence of market failure
Dokazila o obstoju tržne nepopolnosti
In line with the provisions of the Communication, the Commission is prepared to accept the existence of market failure without further provision of evidence if risk capital funding wholly or partially financed through State aid for SMEs in areas qualifying for assistance pursuant to Article 87(3)(c) of the EC Treaty is limited to the maximum amount of EUR 750000 as foreseen under point VI.5 of the Communication.
V skladu z določbami sporočila bi bila Komisija pripravljena sprejeti obstoj tržne nepopolnosti brez nadaljnje zagotovitve dokazil, če je financiranje rizičnega kapitala v celoti ali delno financirano z državno pomočjo za MSP v območjih, upravičenih do pomoči v skladu s členom 87(3)(c) Pogodbe ES, omejeno na najvišji znesek 750000 EUR, kakor je predvideno pod točko VI.5 sporočila.
The measure proposed by the United Kingdom foresees risk capital investments in the range of GBP 250000 (EUR 367000) to GBP 1,5 million (EUR 2,2 million) per investment tranche for SMEs in Northern Ireland.
Ukrep, ki ga predlaga Združeno kraljestvo, predvideva naložbe tveganega kapitala v obsegu od 250000 GBP (367000 EUR) do 1,5 milijona GBP (2,2 milijona EUR) na naložbeno tranšo za MSP v Severni Irski.
However, according to the Regional Aid Map 2000-2006 for the United Kingdom, Northern Ireland is considered to be an ‘atypical’ Article 87(3)(c) region with a corresponding regional aid ceiling of 40 %, generally reserved for regions qualifying for assistance under Article 87(3)(a).
Vendar je glede na regionalni zemljevid pomoči 2000–2006 za Združeno kraljestvo, Severna Irska opredeljena kot „atipična“ regija člena 87(3)(c) z ustrezno regionalno zgornjo mejo pomoči 40 %, ki je ponavadi rezervirana za regije, ki izpolnjujejo pogoje za pomoč na podlagi člena 87(3)(a).
In line with the provisions of the Communication, the Commission has informed the United Kingdom that in view of the fact that the proposed risk capital investments under the notified scheme exceed the EUR 750000 threshold foreseen for areas qualifying for assistance pursuant to Article 87(3)(c), the United Kingdom would have to provide evidence of market failure.
V skladu z določbami sporočila je Komisija Združeno kraljestvo obvestila, da mora zaradi dejstva, da predlagane naložbe rizičnega kapitala v prijavljeni shemi presegajo prag 750000 EUR, predviden za območja, ki izpolnjujejo pogoje za pomoč v skladu s členom 87(3)(c), Združeno kraljestvo zagotoviti dokazila o tržni nepopolnosti.
In order to demonstrate the existence of market failure for risk capital investments exceeding EUR 750000 for SMEs in Northern Ireland, the United Kingdom presented arguments indicating that the venture capital market in Northern Ireland is characterised by unique particularities distinguishing it from other regions in the United Kingdom.
Da bi prikazali obstoj tržne nepopolnosti za naložbe tveganega kapitala, ki presegajo 750000 EUR za MSP v Severni Irski, je Združeno kraljestvo predložilo argumente, ki kažejo na to, da so za trg tveganega kapitala v Severni Irski značilne edinstvene posebnosti, zaradi katerih se razlikuje od ostalih regij v Združenem kraljestvu.
The arguments put forward by the United Kingdom were supported by a study underlining that there exists a gap in the provision of private venture capital for SMEs in Northern Ireland in the deal size range of GBP 250000 (EUR 367000) to GBP 1,5 million (EUR 2,2 million).
Argumenti, ki jih je predložilo Združeno kraljestvo, so bili podprti s študijo, ki poudarja, da obstaja razlika pri zagotavljanju zasebnega tveganega kapitala za MSP v Severni Irski pri velikosti poslov v višini od 250000 GBP (367000 EUR) do 1,5 milijona GBP (2,2 milijona EUR).
Although such a market gap also occurs in other regional economies, the United Kingdom submitted that it is more pronounced in Northern Ireland.
Čeprav se takšna tržna razlika pojavlja tudi v drugih regionalnih gospodarstvih, Združeno kraljestvo meni, da je ta najbolj izrazita v Severni Irski.
This has been demonstrated by the study submitted by the United Kingdom.
To je pokazala študija, predložena s strani Združenega kraljestva.
According to that study, venture capital activity in Northern Ireland, in terms of the number of deals and the value of the deals, varies significantly from other United Kingdom regions such as Scotland and the North West and Merseyside region.
Po podatkih te študije se dejavnost tveganega kapitala v Severni Irski glede števila poslov in vrednosti poslov, znatno razlikuje od drugih regij Združenega kraljestva, kot sta Škotska, severozahodna regija in regija Merseyside.
Whereas the number of deals for early stage companies in Scotland for the period 2000-2002 was 9,9 % of the United Kingdom total, and in the North West and Merseyside region was 8,1 % of the United Kingdom total, Northern Ireland only accounted for 4,4 % of the United Kingdom total.
Medtem ko je število poslov za družbe v zgodnji fazi na Škotskem za obdobje od leta 2000 do 2002 predstavljalo 9,9 % vseh poslov v Združenem kraljestvu, v severozahodni regiji in regiji Merseyside pa 8,1 % vseh poslov v Združenem kraljestvu, je delež Severne Irske znašal le 4,4 % vseh poslov v Združenem kraljestvu.
For companies in the expansion stage, the respective figures were 10,2 % of the United Kingdom total in Scotland, 7,9 % of the United Kingdom total in the North West and Merseyside region, and only 2,4 % of the United Kingdom total in Northern Ireland.
Za družbe v fazi širitve so bile zadevne številke 10,2 % vseh poslov v Združenem kraljestvu za Škotsko, 7,9 % vseh poslov v Združenem kraljestvu za severozahodno regijo in regijo Merseyside in le 2,4 % vseh poslov v Združenem kraljestvu za Severno Irsko.
With regard to the value of the deals in the early stage and expansion phases, the study shows that for early stage investments, Scotland represented 8,1 % of the United Kingdom total for the period 2000-2002, the North West and Merseyside region 5,7 %, and Northern Ireland 2,2 % of the United Kingdom total.
Glede na vrednost poslov v zgodnjih fazah in fazah širitve študija kaže, da je za naložbe zgodnjih faz Škotska predstavljala 8,1 % skupne vrednosti v Združenem kraljestvu za obdobje od leta 2000 do leta 2002, severozahodna regija in regija Merseyside 5,7 % in Severna Irska 2,2 % skupne vrednosti v Združenem kraljestvu.
The difference is even more accentuated if one looks at the value of deals for companies in the expansion stage.
Razlika je še bolj očitna pri primerjavi vrednosti poslov za družbe v fazi širitve.
There, Scotland represents 9,5 % of the United Kingdom total, the North West and Merseyside region 21,2 % of the United Kingdom total, and Northern Ireland only 0,7 %.
Škotska predstavlja 9,5 % skupne vrednosti v Združenem kraljestvu, severozahodna regija in regija Merseyside 21,2 % in Severna Irska le 0,7 %.
This fact is further underlined by data in the study comparing the average deal sizes for the period 2000-2002.
To dejstvo nadalje poudarjajo podatki v študiji, ki primerjajo povprečne velikosti poslov za obdobje od leta 2000 do 2002.
Here the United Kingdom average for early stage investments is GBP 1,14 million compared to GBP 0,93 million in Scotland, GBP 0,81 million for the North West and Merseyside region, and GBP 0,36 million for Northern Ireland.
Tu je povprečje Združenega kraljestva za naložbe v zgodnjih fazah 1,14 milijona GBP v primerjavi z 0,93 milijona GBP na Škotskem, 0,81 milijona GBP severozahodne regije in regije Merseyside in 0,36 GBP milijona za Severno Irsko.
For SMEs in the expansion stage, the difference is once again much more pronounced.
Za MSP v fazi širitve je ta razlika zopet bolj izrazita.
Whereas the average for the United Kingdom is GBP 2,82 million, GBP 2,63 million for Scotland, and GBP 7,62 million for the North West and Merseyside region, it reaches only GBP 0,86 million in Northern Ireland.
Medtem ko je povprečje za Združeno kraljestvo 2,82 milijona GBP, 2,63 milijona GBP za Škotsko, 7,62 milijonov za severozahodno regijo in Merseyside regijo, znaša v Severni Irski le 0,86 milijona GBP.
These figures underlining the relative weakness of the venture capital market in Northern Ireland — according to the study Northern Ireland generally accounts for only 0,7 % of total investments in the United Kingdom although it represents a 2,2 % share of the United Kingdom GDP — especially for SMEs in the expansion phase, can be explained by looking at the venture capital funds currently active in Northern Ireland.
Te razlike poudarjajo relativno šibkost trga tveganega kapitala v Severni Irski – glede na študijo Severna Irska ponavadi predstavlja le 0,7 % skupnih naložb v Združenem kraljestvu, čeprav predstavlja 2,2 % delež BDP Združenega kraljestva – zlasti za MSP v fazi širitve, kar se lahko pojasni s preučitvijo skladov tveganega kapitala, ki so trenutno dejavni v Severni Irski.
Out of eight existing and active venture capital funds, only one offers financing for deal sizes ranging from GBP 250000 to GBP 1,5 million, but has already reached the end of its investment period.
Od osmih obstoječih in dejavnih skladov tveganega kapitala le en ponuja financiranje za velikosti poslov od 250000 GBP do 1,5 milijona GBP, vendar je že zaključil naložbeno obdobje.
All other funds only offer financing for deals below GBP 250000.
Vsi ostali skladi ponujajo financiranje zgolj za posle pod 250000 GBP.
The study submitted to the Commission by the United Kingdom has argued that this gap for the provision of equity financing in the deal size range between GBP 250000 and GBP 1,5 million is clearly related to the general socioeconomic characteristics of Northern Ireland as described under recitals 50 and following.
Študija, ki jo je Komisiji predložilo Združeno kraljestvo trdi, da je ta razlika pri zagotavljanju lastniškega financiranju za posle v velikosti med 250000 GBP in 1,5 milijona GBP jasno povezana s splošnimi socialno-ekonomskimi značilnostmi Severne Irske, kakor je opisano v uvodnih izjavah 50 in naslednjimi zgoraj.
These particularities of Northern Ireland, namely its peripherality and the legacy of civil unrest, have aggravated the two sources of market failure — imperfect or asymmetric information and high transaction costs — as described by the Communication.
Te posebnosti Severne Irske, namreč njena obrobnosti in zapuščina državljanskih nemirov, so okrepile dva vira tržne nepopolnosti – nepopolne ali asimetrične informacije in visoki transakcijski stroški – kakor je opisano v sporočilu.
In its decision to initiate the procedure laid down in Article 88(2) of the EC Treaty in respect of the proposed aid measure, the Commission stated that in view of the maximum investment amounts proposed under the scheme, which considerably exceed the maximum investment amounts foreseen by the Communication, it was necessary to seek observations from interested parties in order to decide whether the measure affects trading conditions to an extent contrary to the common interest.
V svojem sklepu o sprožitvi postopka, določenega v členu 88(2) Pogodbe ES glede predlaganega ukrepa pomoči, Komisija navaja, da je treba glede najvišjih naložbenih zneskov, predlaganih v shemi, ki znatno presegajo najvišje naložbene zneske, predvidenih v sporočilu, upoštevati pripombe zainteresiranih strank, da bi se odločili ali ukrep vpliva na trgovinske pogoje v obsegu, ki bi bil v nasprotju s skupnimi interesi.
All comments received from interested third parties were positive and underlined the importance of the measure in general as well as the appropriateness of the proposed maximum investment amounts.
Vse prejete pripombe tretjih strank so bile pozitivne in so poudarile splošni pomen ukrepa, pa tudi primernost predlaganih najvišjih naložbenih zneskov.
Taking into account the information presented in the initial notification, the comments submitted by interested third parties as well as the additional information delivered by the United Kingdom following the Commission’s decision to open the procedure laid down in Article 88(2) of the EC Treaty, it is concluded that the United Kingdom has provided sufficient evidence of the existence of market failure in the venture capital market in Northern Ireland.
Ob upoštevanju informacij, predstavljenih v prvotnem obvestilu, pripomb zainteresiranih tretjih strank pa tudi dodatnih informacij, predloženih s strani Združenega kraljestva po sklepu Komisije o sprožitvi postopka, določenega v členu 88(2) Pogodbe ES, je bilo ugotovljeno, da je Združeno kraljestvo predložilo zadostna dokazila za obstoj tržne nepopolnosti trga tveganega kapitala v Severni Irski.
Compatibility of the measure
Združljivost ukrepa
The United Kingdom has confirmed that, with the exception of the allowable maximum amount of risk capital funding per single tranche, all other material aspects of the notified scheme are in line with the Commission’s decision concerning the Small and Medium Enterprises Venture Capital and Loan Fund.
Združeno kraljestvo potrjuje, da so razen dovoljenega najvišjega zneska financiranja rizičnega kapitala na posamezno tranšo, vsi ostali materialni vidiki prijavljene sheme v skladu z odločbo Komisije glede Sklada tveganega kapitala in posojilnega sklada za mala in srednje velika podjetja.
The assessment of the compatibility of the notified State aid therefore follows the assessment made in the decision concerning the Small and Medium Enterprises Venture Capital and Loan Fund.
Ocena združljivosti prijavljene državne pomoči zato sledi presoji iz odločbe glede Sklada tveganega kapitala in posojilnega sklada za mala in srednje velika podjetja.
In its decision in that case, the Commission concluded that all positive elements as outlined under point VIII.3 of the Communication were fulfilled.
V tem primeru je Komisija v svoji odločbi ugotovila, da so bili izpolnjeni vsi pozitivni elementi izpostavljeni pod točko VIII.3 sporočila.
This is also true in respect of the Invest Northern Ireland Venture 2003 fund.
To velja tudi za sklad Invest Northern Ireland Venture 2003.
The following elements are regarded as positive elements:
Naslednji elementi se obravnavajo kot pozitivni elementi:
restriction of investments to SMEs in their start up and early stages and/or SMEs seeking to expand or diversify;
Omejitev naložb v MSP v začetnih in zgodnjih fazah in/ali v MSP, ki se želijo razširiti ali razvejati.
focus on risk capital market failure: delivery of finance to SMEs principally in the form of equity or quasi-equity;
Poudarek na nepopolnosti trga rizičnega kapitala: Financiranje MSP zlasti v obliki kapitala ali konvertibilnega dolga.
profit-driven nature of the investment decisions: Market economy investors will provide at least 40 % of the capital of the fund.
Dobičkonosno naravnana narava naložbenih odločitev: Vlagatelji tržnega gospodarstva bodo zagotovili vsaj 40 % kapitala sklada.
Professional fund managers will take all investment decisions and their remuneration will be directly linked to the performance of the fund;
Strokovni upravljavci skladov bodo sprejemali odločitve o naložbah in njihovi prejemki bodo neposredno povezani z delovanjem sklada.
minimisation of the level of distortion between investors and investment funds: The investors will be chosen by competitive tender.
Minimizacija stopnje neenakih pogojev med vlagatelji in investicijskimi skladi: Vlagatelji bodo izbrani na razpisu za zbiranje ponudb.
Private investors will be given notice of the opportunity to invest by virtue of advertising.
Zasebni vlagatelji bodo imeli možnost za vlaganje na podlagi oglaševanja.
No person or organisation will be debarred from investing in the fund.
Nobena oseba ali organizacija ne bo izključena iz vlaganja v sklad.
Investors will be chosen by selecting the least preferential terms necessary in order to induce the private sector to invest.
Vlagatelji bodo izbrani z izbiro najmanj preferencialnih potrebnih pogojev, da bi spodbudili vlaganje zasebnega sektorja.
In order to prevent overcompensation to investors, the benefits will be split between the public and private investors according to their respective level of investment;
Da bi preprečili prekomerno kompenzacijo vlagateljem, se bodo prejemki razdelili med javne in zasebne vlagatelje skladno z zadevno stopnjo naložbe.
sectoral focus: sensitive sectors are excluded;
Sektorski poudarek: Občutljivi sektorji so izključeni.
investment on the basis of business plans: All investments will be made on the basis of robust business plans together with a variety of other standard commercial tests to ensure the viability of the project and the expected commercial return;
Naložba na podlagi poslovnega načrta: Vse naložbe se bodo izvedle na podlagi robustnega poslovnega načrta skupaj z različnimi standardnimi trgovinskimi testi, da bi zagotovili funkcionalnost projekta in pričakovanega tržnega donosa.
avoidance of cumulation of aid measures to a single enterprise: The United Kingdom authorities have stated that any SMEs receiving risk capital funding under the scheme would, for the duration of the investment, have any further eligible regional aid and SME aid reduced by 30 % of the aid intensity that would otherwise have been found compatible by the Commission.
Izogibanje kumulacije ukrepov pomoči v enem podjetju: Oblasti Združenega kraljestva so izjavile, da bi se vsakemu MSP, prejemniku financiranja z rizičnim kapitalom na podlagi sheme, za trajanje naložbe vsaka nadaljnja upravičena regionalna pomoč in pomoč za MSP zmanjšala za 30 % intenzivnosti pomoči, ki bi jo Komisija sicer obravnavala kot združljivo.
It is therefore concluded that all positive aspects as required by the Communication are present in respect of the notified scheme.
Zato je ugotovljeno, da prijavljena shema vključuje vse pozitivne vidike, ki jih zahteva sporočilo.
It is therefore concluded that the Invest Northern Ireland Venture 2003 scheme fulfils the conditions set out in the Communication.
Zato je ugotovljeno, da shema Invest Northern Ireland Venture 2003 izpolnjuje pogoje, določene v sporočilu.
The notified measure should therefore be declared compatible with the common market pursuant to Article 87(3)(c) of the EC Treaty as aid to facilitate the development of certain economic activities or of certain economic areas without adversely affecting trading conditions to an extent contrary to the common interest,
Zato se priglašeni ukrep razglasi za združljivega s skupnim trgom v skladu s členom 87(3)(c) Pogodbe ES kot pomoč za spodbujanje razvoja določenih gospodarskih dejavnosti ali določenih gospodarskih področij brez negativnega vpliva na trgovinske pogoje v obsegu, ki bi bil v nasprotju s skupnimi interesi –
The State aid which the United Kingdom is planning to implement under the Invest Northern Ireland Venture 2003 scheme is compatible with the common market within the meaning of Article 87(3)(c) of the Treaty.
Državna pomoč, ki jo namerava Združeno kraljestvo izvajati s shemo Invest Northern Ireland Venture 2003, je združljiva s skupnim trgom v smislu člena 87(3)(c) Pogodbe.
Implementation of the aid is accordingly authorised.
Skladno s tem se izvajanje pomoči dovoli.
The United Kingdom shall submit an annual report on the implementation of the aid.
Združeno kraljestvo mora predložiti letno poročilo o izvajanju pomoči.
OJ C 33, 6.2.2004, p. 2.
UL C 33, 6.2.2004, str. 2.