Early Warning Europe

ended

"The overall objective of this proposal is to promote entrepreneurship and growth of SMEs across Europe. A key element is to create strong framework conditions for entrepreneurs and businesses across sectors that can help them face key challenges, including managing a crisis, dealing with bankruptcy and getting a second chance. More specifically, we will: 1) Promote policy development and implementation of innovative policy measures relating to bankruptcy and second chance across Europe by establishing a ""European Network for Early Warning and for Support to Enterprises and Second Starters"". The Network will include key organisations, experts, policy makers and stakeholders from all 28 EU member states. Furthermore, the Network will be continued after the finalisation of the project in 2019. 2) Apply a proactive approach to helping entrepreneurs and company owners by identifying and contacting companies in distress using the available means in the form of data bases and networks. We will also develop and test an innovative data-driven method to identifying companies in distress using machine learning and big data, which will set the future standard for identifying and helping companies in distress (Next Generation Early Warning). 3) Help companies in distress by setting up Early Warning mechanisms providing advisory and support services to companies in distress in four target countries: Spain, Italy, Poland and Greece. The results and learning points from the target countries will be used for inspiration and in particular to promote and support the implementation of Early Warning mechanisms in other European countries."