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Research Policy & Development

Danube Chance 2.0

Embracing failure to facilitate second-chance entrepreneurship in the Danube region

DanubeChance2.0 delivers innovative policy designs and create create the first "Second-chance Entrepreneurship Strategy for the Danube region"

DanubeChance2.0 delivers innovative policy designs and gives formerly bankrupt entrepreneurs a second chance in the Danube region. In Europe, 200,000 businesses face insolvency every year, resulting in 1.7 million jobs lost.In the Danube region, the number of business failures rose by 3.6 per cent last year. Even though only 4-6% of bankruptcies are fraudulent, public opinion makes a strong link between business failure and fraud. Many honest entrepreneurs whose businesses have gone bankrupt feel discouraged to re-start due to the stigma and difficulties or discrimination faced after a bankruptcy.

Acting as a policy driver, DanubeChance2.0 brings together a multi-disciplinary quadruple-helix partnership of 12 partners and 5 ASPs to create the first "Second-chance Entrepreneurship Strategy for the Danube region". DanubeChance2.0 aims to facilitate improved policy learning between: policymakers and government agencies; research institutes and universities; financially distressed enterprises currently involved in insolvency procedures, or entrepreneurs who have already gone bankrupt but ready for a fresh re-start; business accelerators; and the public.

The project provides a path for more legitimate entrepreneurs whose first businesses have failed to re-enter the market through delivering 130 hours of "blended" learning experiences at the ”’Trial and Error‘ Re-Design Transnational Academy”,and the launch of the first "Business Re-Structuring Initiative", which provides business acceleration support for approximately 60 legitimate entrepreneurs whose first projects failed. A Second-chance Entrepreneurial Transnational Community Pool of Experts provides mentoring to second-chance entrepreneurs beyond the lifetime of the project.

Project co-funded by European Union Funds (ERDF, IPA, ENI), total ZSI amount: 180.800€ out of which 85% are covered by the ERDF which amounts at: 153.680€

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Section: Research Policy & Development

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Tags: Danube Region, entrepreneurship, social entrepreneurship, Southeast Europe

Type: Policy Advice

Program: Interreg - Danube Transnational Programme

Project Status: In progress

Start/End: 07/2018 - 06/2021

Project Duration: 36 months

Website: http://www.interreg-danube.eu/ ... echance2-0