Oséo officially launched from Anvar, BDPME and ADPME merger

The long awaited government initiated merger between the Agence Nationale de Valorisation de la Recherche (Anvar), Banque de développement des PMEs (BDPME) and the Agence de développement des PMEs (ADPME) has finally taken place. The move was announced at an internal convention held at the Louvre. BDPME finances bank investment credit and gives advances on public financing, while Anvar provides subsidies and loans on innovative projects. In May 2004, Nicolas Sarkozy announced the merger, which was aimed at providing investors with a single pathway to the extra benefits offered by both organisations. The institution is designed as a European example of political ambition in favour of SMEs and innovation. It promises to offer founders and heads of French start-up companies an extensive range of products and services, which are not currently available in the private sector. The body's new name derives from the French verb 'to dare', denoting what Anvar and BDPME chairman Jean Pierre Denis deems all French SMEs should do in order to succeed.

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