The European Commission invites comments on use of state aid rules for supporting risk capital investments. The review of the risk capital guidelines starts with this public consultation, seeking stakeholders' views on the functioning of the guidelines since their adoption in 2006 and in particular on market developments concerning the supply of equity and debt finance to small and medium sized enterprises (SMEs). Submissions can be made until 5 October 2012.

The European Commission launched a public consultation seeking views from Member States and other stakeholders on the application of the risk capital guidelines and on SME access to finance at large. Submissions can be made until 5 October 2012. Moreover, the Commission will examine how the guidelines can support the state aid modernisation initiative (SAM) project, designed to foster growth - in particular by facilitating well-designed aid targeted at genuine market failures - and to speed up, simplify and refocus state aid control. The guidelines will be reviewed with a view to best channelling public resources towards access to appropriate finance for innovative and growth-oriented SMEs. The 13 of July 2012, the Commission also launched a public consultation on the application of procedural rules in state aid investigations.

In particular, the consultation seeks to gather information on market developments concerning the supply of equity and debt finance to viable SMEs. The questionnaire also contains questions on general policy and on the use and effectiveness of public financing in Member States; and contains more detailed questions on the experience with the application of the current guidelines.

In the light of the submissions received and its own experience in applying the guidelines, the Commission will propose revised draft guidelines in 2013, with a view to contributing to the objectives of the Europe 2020 strategy for a smart, sustainable and inclusive growth.