Industry ready for innovations

Written by: Agnieszka Kucharska who manages a team for products and financing processes of corporate banking, Bank Millennium

Wood joinery production is one of the exports hallmarks of our country. As the business activity competitive not only in the internal market, but also in the international markets, it is subject to continuous pressure connected with a necessity of its product offer improvement. The companies representing this industry, in particular, look for the solutions that would allow them to create novel products or to design more efficient production processes.

It is one of the industries that are perceived as an active participant of the Union’s schemes addressed to the innovative entrepreneurs. We see a client’s particular activity, among others, in the range of the loan for technological innovations, which was extremely popular and already proven in the former perspective – at the first stage of accepting the applications for subsidizing, more than 750 winning projects were selected. At the present moment the second loan application process is in progress, and the interest from the clients is not lower. The advantage of this scheme executed by the commercial banks, including Bank Millennium, in cooperation with Bank Gospodarstwa Krajowego, is a big amount of subsidy paid in form of the technological bonus – up to 6 million zlotys.

Both manufacturers of the final product and suppliers providing the components are Innovative. The initiatives associating the suppliers and related companies, for example, in order to benefit from better access to the institutions B+R such as Klaster Mazurskie Okna or Klaster Technologii Drewna „Lignum” seem to be interesting. Such companies have a big chance, apart from standard financing, to obtain an additional security to a credit transaction in form of free PO IG guarantee for innovations.

This comment was published on 19th October 2016 in Rzeczpospolita daily