JEREMIE (Joint European Resources for Micro to Medium Enterprises) is the European Union's development program for SMEs that offers several means of enterprise development. It was initiated by the European Commission and is financed by the European Investment Bank (EIB) and its venture capital arm, the European Investment Fund (EIF).

In Hungary. JEREMIE has been started with three subprograms. The venture capital program involves eight competing venture capital funds in two different frameworks (Domestic Funds and Co-investment) with the aim to increase the capital of, and thus provide financing to Hungarian SMEs.

The Domestic Funds include Biggeorge's-NV, DBH Investment, Central Fund, Euroventures, Finext Startup, Morando, PortfoLion and Primus. Co-investment is represented by Euriventures (earlier Etalon Capital).

Domestic Funds invest all over Hungary, except the country's Central Region, with the condition that no more than 70% of the funding comes from the EU; the rest is provided by private investors. The funds provide financing for SMEs and thus facilitate the implementation of innovative new ideas and scientific achievements. Profits from the investments are channeled back into the SMEs, resulting in even more efficient use of capital.

The advantages of JEREMIE funds include sustainability (a given part of funding is reimbursed using the returns of the investment), efficiency (combining structural funds with other sources of investment), flexibility (adaptation to the needs of the given country/region), expertise (controlling agencies taking advantage of the expertise of banks and the private sector), as well as facilitating partnerships between regions, banks and investors.

The most important is to point out that, by the end of 2013, these funds combined will invest more than $200 million, which is a great opportunity for Hungarian SMEs to drive their products to success.