Promálaga will create a joint venture fund for companies of at least one million euros

The Councilor for Innovation and New Technologies, Mario Cortés, and the spokesman for Citizens in the City of Malaga, Juan Cassá, presented on Thursday the CoInvierte Málaga program that has, among other objectives, the achievement of a development of the investment ecosystem in Malaga that helps attract the interest of specialized investors in companies with high growth potential. The co-investment will be carried out with investment partners that have been previously selected

CoInvierte is created under the umbrella of ‘open innovation’, a collaborative model of innovation. The main characteristic is that it is not only a program to inject capital, but also adds value to the concept of ‘know how’, a form of technology transfer and experience of potential investors.




Participative loans consist of a type of banking service in which the credit is agreed with a financial institution, where other companies will also participate. The minimum amount of the loan is 25,000 euros, and the maximum amount of 100,000 euros.

The same investor may co-invest in a maximum of four different projects per call, with a maximum investment amount of 200,000 euros in total.

Promálaga has set financial conditions that force private investors to invest in startups to contemplate a series of rules. First, for a minimum amount of 25,000 euros, the private co-investment must amount to that amount and be necessarily lent in cash and notarized.

In addition, non-monetary contributions may be accepted, with the approval of Promálaga, provided they add value to the business model. Its amount may reach a maximum of 50 percent of the contribution of the private partner for investments of more than 50,000 euros. In this way, a monetary investment of at least 25,000 euros is guaranteed.

This last contribution must also be notarized. Promálaga will make the disbursement of the loan once the co-investor has made the total disbursement of their investment.

As for the interest rates, the interest accruing on the loan will be made up of two tranches- pop over to this website Top Watches-brand. The first one will accrue and calculate the Euribor at one year plus 1.5 percentage points. The first period will comprise from the day of the loan formalization until December 31 of the same year. The remaining periods will have a duration of one calendar year.

In the second tranche, it will be accrued and calculated at an annual nominal rate calculated on the basis of the percentage that, in each year, represents the result of the entire year before taxes on the average equity, that is, the arithmetic average of the funds own at the beginning and at the end of the year. In the event that the average equity is negative, it will be considered equal to one euro. If the rate applicable to this second tranche is negative, it will be considered as zero.

With respect to the grace period, a principal amortization limit may be established with a maximum duration of 36 months, starting from the formalization of the loan in a public deed.

On the other hand, the amortization period of the loans granted will have a maximum duration of seven years, including the grace period.

The beneficiaries of the CoInvierte program will be innovative startups and/or technology-based for-profit and have a business plan for growth and consolidation. In addition, these companies must present a private investor accredited by Promálaga that will contribute, at least, the same amount that is requested as a loan.

Innovative or technology-based startups are considered to be those that meet at least one of the following requirements, such as carrying out innovative projects in terms of products, processes, marketing or organization; be able to demonstrate that in the future it will have the capacity to develop products and services that show improvements compared to other products in the same sector; operate in advanced emerging technological sectors in the strategic line of the city -‘Smart City ‘, digital content, technological tourism, internet, mobile and’ e-commerce’-; and they must have an activity based on the economic exploitation of patents, licensing contracts or technological knowledge through the development of new products that facilitate their introduction into the market.

The corporate purpose must contemplate the realization of any of the following activities: research, development or innovation; performance of concept tests; exploitation of invention patents and, in general, the transfer and exploitation of industrial and intellectual property rights; and the use and exploitation, industrial or commercial, of innovations, of scientific knowledge and of the results obtained and developed by said agents.

In order to benefit from the CoInvierte Málaga program, the ‘startups’ must prove their conditions of economic and financial viability and guarantee that they have the capacity to repay the loan granted under the conditions and deadlines set in the call. In addition, and to be able to justify the economic and financial viability, they will have to present, in a consensual manner with the co-investor, a business plan, canvas, and/or metrics that define the business model.

Finally, the company must certify that it has a registered office and tax office, a work center or research and development center in Malaga capital and be registered in the Treasury and Social Security at the time of the application date.

With this new program, Málaga seeks to become an ‘entrepreneur-friendly’ environment not only for ‘startups’, but also for investors and ‘business angels’. These agents play a decisive role in new companies since they help to help them economically while allowing agile investment models for new technological entrepreneurs.

Same Day Time Cash Loans Could Be Ideal For You

In today’s fast-paced world, most people are struggling hard to survive

In the wake of the recent economic crisis, this bitter truth is a lot more evident. More and more people are getting jobless and huge financial challenges are plaguing the life of the victims of such a turmoil. Anything unexpected can happen anytime in life. You can never become too sure. There could be bills piling up or there could be that will unexpected medical emergency that the insurance is unable to cover. In case you are low on money then you definitely should definitely use fast payday loans.

Having a little option in making good on defaulted loans, lenders must counteract the cost with high rates of interest. In spite of the high-interest rates, people who take out a legitimate bad credit score personal advance online loan from a reputable business do not necessarily make their particular situation worse. If they are cautious and wise, they may actually ameliorate their financial circumstances. In case you are in the market for a legitimate bad credit score personal from a reliable business, you need to consider a few issues.

Cash advance loans online is a popular and straightforward way to get cash urgently. But it is important to remember these loans attract high passions, which is the reason why it is within your interest to keep them temporary. For long-term needs, it is best to avail some other type of loan.

Highlight questions about the exact amount that you would need to pay and the period by which you will have to pay. Raise queries about special discounts and all the particular possible breaks that they can provide you with in line with their Christmas choices personal advance online. Do not hesitate to request anything that you need to know. At the end of the day, you might be the customer seeking information. They have to convince you that their particular service is best suited to your requirements and preferences.

When time is your foe and you need cash for the financial emergency, short-term unsecured loans are your choice

With other forms of credit, applications can take several weeks to process. But payday loans just take minutes to be finished and approved.

The main characteristic of personal advance online is their character – they can only become availed by salaried individuals and they need to be paid back once the next paycheck comes in. individual advance online is typically utilized for a term of 14-30 days. personal advance online, as the name suggests, tend to be more in the nature of a short-term advance. So, you are not needed to fax any documents in order to avail of the loan. You might simply provide the required info and the loan will be straight credited to your account. Disbursal is definitely immediate and you may get the cash you want in less than 24 hours!

Maybe you have reached the middle of the 30 days and received a bill that will not wait to be paid? If you do then the instant cash advance financial loans scheme is a friend within need. Yes, it’s a plan that can help you to overcome all of your emergency financial needs prior to your actual payday comes. This can help you to clear a number of your small financial requirements that crop up in the middle of the particular month. This also ensures that about to catch left high and dried out when you have to pay for your boy’s summer project or the wife’s sudden demand for added cash.

Credit score debit consolidate is an elaborate process that can only become handled by a professional. As well as that, the debtor needs to go to debt counselor to better be familiar with credit situation, and understand which option to take. With regard to credit debt consolidation loan, Debt Mediators is the choice for most Australians.

Rescue on the horizon? Possible scenarios of our exit from the debt crisis

Rescue on the horizon? Possible scenarios of our exit from the debt crisis

  • The markets do not rule out that the Spanish economy needs to be rescued, but what are the options that are being considered?
  • Several analysts explain the four possible scenarios for Spain: leaving alone afloat; bank rescue; intervention of the Troika; some indirect help
  • With the risk premium at maximum, the recapitalization of Bankia in question and the distrust of investors, Spain is at the most decisive moment.
  • GRAPH : The figures that weigh down on Spain.

Banco de España

Stock image of the headquarters of the Bank of Spain. JORGE PARIS

In these moments, the possibility that Spain needs a rescue is only ruled out by the Executive of Mariano Rajoy. On Monday, at a press conference in Genoa, the President of the Government stated categorically that there would be “no rescue with European funds from Spanish banks”. Although this Friday both Spain and the US have agreed that banks have to recapitalize without going to aid, and the IMF has denied that it is preparing a rescue plan for Spain, economists do not dare to put their hands on the fire. Not even the most optimistic discard the intervention of the country.

The so-called ‘debt crisis’ lasts three years . It seemed to dissipate at the end of 2011, when the ECB lent cheap money to the banks that they invested in national debt. This maneuver did nothing more than plug the problems and, in the Spanish case, enlarge them, the analysts agree.

Now, in an environment of global crisis, with Greece with a foot out of the euro and foreign investors escaping from Spain, explodes the scandalous recapitalization of Bankia, which undermines the confidence of the country (raising the risk premium to maximum and reducing margins of the stock market activity at levels of a decade ago).


Spain’s economic credibility maintains three open fronts: market mistrust – with a risk premium at “unsustainable” levels and a flight of investors -, the banking situation – with foreign auditors measuring the banking hole – and a recession rampant. With this scenario, where is the exit? We analyze four possible scenarios.

Spain leaves the quagmire alone

Economists see the possibility that we save ourselves as the “most desired” but “the most difficult” . Federico Steinberg (professor of the Autonomous University of Madrid and researcher of the Elcano Royal Institute) links an exit afloat without aid only to the permanence of Greece in the euro since the foreign auditors that these days dive in the Spanish banking do not find a bulky hole in toxic assets – which some sources already indicate as over 80,000 million euros . That alone would calm the markets.

We are not Greece, but we are more and more like

“If, as the Government says, it is true that there is money in the Treasury to cover the next maturities of the debt and the recapitalization of Bankia takes place in an orderly manner , the rescue could be avoided ,” says Steinberg.

Other economists believe, however, that ” alone we do not go out “. The professor of the UNED Fernando Pampillón is one of those who think that we should not look at Greece, but “ourselves” and is critical of the measures that the Government is taking , as well as its communication strategy. Among its recipes to try to leave by our own foot of the crisis enumerates to increase the income , looking for those who do not pay, either because they have tax breaks (and talks about the companies of the Ibex ) or fraud; raise taxes on gasoline and VAT , limit inefficient spending … Even so, Pampillón does not know if it is already possible to avoid a rescue: “The image abroad is painful, we are not Greece, but we are more and more like

European aid to banking

The Government of Mariano Rajoy has requested in recent weeks an intervention to the ECB, to calm the markets and the Spanish banking , suffering from an overexposure to the national debt and a large portfolio of toxic real estate assets. Internally, the government approved Thursday the decree law for a new financial reform – the fourth in two years – and faced awkwardly a billionaire recapitalization of Bankia, trying to put it through the back door back to the ECB .

The organism that presides over Mario Draghi did not admit the strategy of Spain to save Bankia, that consisted of that the State injected public debt in the exchangeable entity in the European bank.

The EU then raised the possibility of allowing rescue funds to inject money into banks, without the need for countries to intervene. Hours later, Olhi Reihn warned that this possibility is not allowed by European legislation.

The consulted analysts emphasize that with the law in hand this option is not possible and remember that a change in the legislation in the medium term is not viable, given the opposite position of Germany, which does not contemplate another rescue other than the intervention of the country and your accounts.

Rescue of Spain

The third option is precisely to go to the European Stability Mechanism (ESM) , which replaces the rescue fund as of July 1, following in the footsteps of Greece, Ireland and Portugal. It is the option that the Government resists, due to the loss of sovereignty that this entails.

An economic rescue means leaving the markets

“An economic rescue means leaving the markets,” Steinberg recalls, “and it is the Troika (IMF, ECB and CE) that gives you the money and imposes the conditions on you, if you do not comply, you go bankrupt.” It is to be expected, analysts point out, “an agenda of severe cuts”. And they cite: tax increases (IRPF or VAT), reforms of the State administration, reduction of pensions, more labor reform …

The question is whether the ESM , capitalized with 500,000 million euros, has enough money to rescue a country like Spain. The NYT newspaper says that a rescue to Spain would consume more than three quarters of the existing funds. Spanish analysts warn of a possible domino effect on Italy, whose fall would cause it to slump.

Is the rescue on the horizon? “Not right now,” says Federico Steinberg. “Although I do not rule it out, if the situation evolves negatively, at this moment, due to prudence, we must think that there is still money in the Treasury, although if Greece leaves the euro it can not be ruled out.” Pampillón, on the other hand, has it clear: “Rescue yes, and soon, and either we fulfill your demands (those of the troika), or we will not see a single euro”.

Covert or partial aids

Another of the outputs that have been considered lately is the request for help from the International Monetary Fund (IMF), which would be disguised and never named as a bailout. Apparently, the director, Christine Lagarde , is not against a unilateral intervention, but emerging countries of the IMF do not want another way to go hand in hand with the ECB and with the European Commission on rescues. This Thursday, however, Lagarde claimed that Spain had not claimed any direct aid to the IMF.

Experts also rule out aid through the back door of the ECB , which has already said that more debt purchase does not, that this is not the way out of the crisis.


Heidelberg. When the paintwork of the new car shines in the sun, the anticipation increases among car buyers. Then comes a zero-percent financing that the car dealer offers, just located. But this credit can turn out to be too expensive. This is indicated by the independent consumer portal Verivox.

Picture: Cars 

“There is no zero-percent funding, nor a loan that is well below the market interest rate – for example, at 0.99 percent,” says Ingo Weber, CEO and Chief Financial Officer of the independent comparison portal Verivox. If the car dealer still makes such an offer, then he or the manufacturer has subsidized it. But that usually means that the buyer receives less or no discount on the purchase price. Car buyers may pay more than with a regular loan from a bank they are looking for.

Tip: Interested parties should better negotiate first with the car dealer the highest possible discount on the new price. Then, a credit comparison on the Internet helps to find out the best interest rates.

3,600 euros saved compared to zero-percent financing

An example: Whoever buys a new car from Internet car portals, currently receives 19.5 percent discount on the new price. This is shown by the CAR discount index of the University of Duisburg-Essen for the most popular models. At a list price of 25,000 euros, this gives 20,125 euros, which would be to finance. A favorable fixed interest offer is currently at 3.99 percent * (effective annual interest, 36 months maturity). Then the car buyer pays 21,363.98 euros including the interest.

A zero-percent financing without a discount costs the full list price, in the example 25,000 euros. Who compares on the Internet and selects his own bank, has saved in this example over 3,600 euros. “Car buyers often go cheaper if they first negotiate a discount and then independently compare the loan,” says Ingo Weber.

Not in every case the discount is so high. But according to calculations by Verivox already a price advantage of 5.80 percent is enough. Then an independent loan is 3.99 percent cheaper than a zero-percent financing from the car dealer (36-month term). Comprehensive advice on credit is also available to consumers on the Internet. Good comparison portals examine the requests of the users and search for the best individual interest rate.

Interest rate comparison zero percent financing (Excel)

Further information

With Verivox you are always up to date. Whether energy, telecommunications, finance or insurance – You can find the latest news and valuable tips in our daily news.


IT services: Bolkesteinisation and ready for labor (part 2)

In the first part of this series of posts dedicated to IT services (Services Companies in Computer Engineering), allowing both pointing drift inherent in this sector but also those they share with the rest of the economy, I ‘ I described the basics of operation of these companies and listed by the biggest problems menu asking it in my opinion.

In this second post, I will try myself to consider what is a major component of this sector, namely outsourcing and lending personnel (noting that this can be done directly in regulated fashion or indirectly through outsourcing or centers of competence I will focus here on the reasoning network activity). Note first that much of the IT services business is, literally illegal.

Indeed, Article L.125-3 of the Labor Code stipulates that “any for-profit operation whose sole purpose is the loan of labor is prohibited under penalty of sanctions provided for in Article L.152- 3 if it is not carried out under the provisions (…) relating to temporary work … “. incurred maximum sentences: two years imprisonment and a € 30,000 fine. However, a significant portion of the IT services revenue is carried out by the authority, which is neither more nor less than … the labor loan. The customer expresses in managerial Newspeak, the need for a resource or a complementary competence in teams (include employee). The consulting firms will then submit one or more profiles and the customer will make its market and choose one of these profiles. Therefore, the employee of the consulting firms will work full time on the client’s site, as a client of the employee, with client teams on the client hardware. It is very clear that this labor lending and that software houses are not of interim companies, they should fall within the scope of the law. I will return in another post on the global ecosystem within which SSII and why the state does not move.

Then there are two questions to ask in my opinion:

Why is there a law banning labor ready and is it based?

Why end customers did they resort to massive IT companies, and more generally to outsourcing? Why IT companies, themselves, resort to subcontracting, creating a phenomenon of Russian dolls whose extreme granularity is the individual (freelance)?

The labor loan is banned or at least restricted to temp agencies because it is an extremely powerful way to circumvent the mechanisms of social regulation. Indeed, it comes to be in the same workplace, employees of different classes. We will find the employees of the company-client, receiving certain benefits or social controllers of various kinds: work environment, ability to have a formal support (unions) or informal colleagues, benefits in kind (ranging from canteen vacation certificates or PEE for example) and external-employees working in an entirely different and generally more unfavorable regime (except perhaps for the actual salary).

This can range from symbolic but meaningful differences (for example, access to the canteen prohibited subcontractors, for example, I know-or even participation in the Christmas tree or other collective activities reserved for employees of the client company) to things deeper (RTT different schemes, the two-speed pace of work …).

Therefore, we find in the same geographical location several classes of employees subject to different rules, which can ultimately that generate unease among the subcontractor. Moreover, it is isolated. Although he established a strong working relationship, he is not an employee of his client and therefore not a true “colleague” of employees with whom he works. But it is also separated from his “real” colleagues he does not alongside, its hierarchy, its office (even if it has one). So we inevitably weakening the loaned employee put in an inferior position and being unable to find support, including moral, with a group, which promotes the danger of depression (see my previous post referring in an article on the increase in suicides in IT). The law on labor loan, therefore, has a true sense since it promotes a certain social harmonization and inter-individual solidarity.

One can find an analogy to this situation in the famous Bolkestein directive and the equally famous Polish plumber. This directive (which was eventually passed but being very amended) was to establish the principle of country of origin (PPO). That is to say that a Polish worker (keep the example) performing a service activity in France was not subject to French law but Polish. Public opinion has greatly moved by this fact via protectionist fiber stressing, in particular, the risks very real competition distortion vis-à-vis domestic companies. Our ethnocentric vision has not identified at the time that this directive could understand, ultimately, suffering potential to work for these migrant workers, driven to temporary emigration by poverty or unemployment rates country and destined to become employees of second-home …

One can quite make the parallel between what was in the directive and hand ready to work practiced by consulting firms. Employees loaned to corporate clients are being applied the principle of the original company, creating the same excesses that pure sugar Bolkestein directive would have created: salaried second area and isolation on the one hand, social pressure downward on internal employees on the other hand (who are de facto compared to external service providers and are under threat of outsourcing, partial -licenciement and replacement by the sub-trance- or total – outsourcing in the case of computer ).

The workforce is ready to resume a strong element of fragility (thus pressurizing) employees on loan but also the employees of client companies who can be in competition internally (especially for positions involving no frame). Note that embrittlement is further increased by the phenomenon of inter or broken in the jargon, that is to say, the period between missions. The employee has to compete with colleagues and accountable to the extreme on employability among customers, creating again an extremely violent psychological pincer. It is also on this occasion held at a point of total availability and mobility even though his employer often made on this occasion demonstrated the total lack long-term management of its employees (internal assignment to menial tasks, consulting to stay at home in the office attendant- m2 are expensive, …).

Finally, the consulting firms themselves outsource often cascaded to the unexpected (won a big contract for example). It, therefore, has a real chain of subcontracting, increasing the isolation of employees. A more recent trend also shows that IT companies, to increase their flexibility, especially when facing times of crisis, encourage or put pressure on employees to work freelance. Finally, it comes down to push the system to the way that IT services companies become pure temp agencies based on an independent pool. Ironically, they then come back under the law.

After this finding on the labor loan and its consequences, I give you an appointment for a future post to dig this phenomenon on the part of corporate customers, including large enterprises, and the antiphon ‘focus is core business “(which itself echoes the necessary short-term shareholder) and see how the whole responds to a” global “economic need.