Co-designed impactful financial instruments for boosting innovation in SMEs and start-ups
Programme 2021 - 2027 Interreg VI-B Central EuropeDescription
FI4INN network of partners and their associated partners for long term policy collaboration(EN)
Regional piloting of co-design innovative financing schemes for SMEs and startups(EN)
Solution(EN)
Strategy for innovation investments' gretear accountability through M&E(EN)
Jointly developed regional action plans (EN)
Website: https://www.interreg-central.eu/projects/fi4nn/
Thematic information
Priority: (VI-B_CE_1) Cooperating for a smarter central Europe
Priority specific objective: RSO1.1. Developing and enhancing research and innovation capacities and the uptake of advanced technologies
Priority policy objective (Interreg specific objective): PO1 A more competitive and smarter Europe by promoting innovative and smart economic transformation and regional ICT connectivity
Type of intervention: 024 Advanced support services for SMEs and groups of SMEs (including management, marketing and design services)
Partners (10)
Lead Partner: Friuli Innovazione
PIC (Participant Identification Code): 986221602
Partner’s ID if not PIC: IT02159640305
Address: Linussio, 33100 Udine, Italy
Legal status: public
Organisation type: Business support organisation
Website: http://www.friulinnovazione.it
Total budget: EUR 306 800.00
Partner’s programme co-financing: EUR 245 440.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 61 360.00
- Express Innovation Agency VMV Nonprofit Zártkörűen Működő Részvénytársaság
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Name: Express Innovation Agency VMV Nonprofit Zártkörűen Működő Részvénytársaság
Department: Sectoral Agency
PIC (Participant Identification Code): 887408478
Partner’s ID if not PIC: HU26231019
Address: Pozsonyi út, 1133 Budapest, Hungary
Department address: Wesselényi utca , 1077 Budapest, Hungary
Legal status: public
Organisation type: Sectoral agency
Website: http://www.xiagency.hu
Total budget: EUR 210 000.00
Partner’s programme co-financing: EUR 168 000.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 42 000.00
- Zadruga za etično financiranje
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Name: Zadruga za etično financiranje
Department: Consulting
PIC (Participant Identification Code): 938976685
Partner’s ID if not PIC: HR26856588936 | 0281136 | Register of not for profit organisations, Ministry of finance, Croatia (EN)
Address: Ilica, HR-10000 Zagreb, Croatia
Department address: Zavrtnica, HR-10000 Zagreb, Croatia
Legal status: private
Organisation type: Other
Website: https://www.zef.hr
Total budget: EUR 117 600.00
Partner’s programme co-financing: EUR 94 080.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 23 520.00
- Build! Gründerzentrum Kärnten GmbH
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Name: Build! Gründerzentrum Kärnten GmbH
PIC (Participant Identification Code): 890230984
Partner’s ID if not PIC: ATU56839915 | FN 223919v | Company registration number (EN)
Address: Lakeside B01, 9020 Klagenfurt am Wörthersee, Austria
Legal status: public
Organisation type: Enterprise, except SME
Website: https://build.or.at/
Total budget: EUR 211 680.00
Partner’s programme co-financing: EUR 169 344.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 42 336.00
- Finpiemonte S.p.A.
-
Name: Finpiemonte S.p.A.
Department: Financial instruments and grants
Partner’s ID if not PIC: IT01947660013
Address: Galleria San Federico , 10121 Torino, Italy
Department address: Galleria San Federico , 10121 Torino, Italy
Legal status: public
Organisation type: Sectoral agency
Website: https://www.finpiemonte.it/
Total budget: EUR 263 900.00
Partner’s programme co-financing: EUR 211 120.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 52 780.00
- Impact Hub GmbH
-
Name: Impact Hub GmbH
PIC (Participant Identification Code): 954310057
Partner’s ID if not PIC: ATU66357747
Address: Lindengasse , 1070 Vienna, Austria
Legal status: private
Organisation type: Business support organisation
Website: http://www.impacthub.net
Total budget: EUR 152 040.00
Partner’s programme co-financing: EUR 121 632.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 30 408.00
- Agentura pro podporu podnikání a investic CzechInvest
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Name: Agentura pro podporu podnikání a investic CzechInvest
PIC (Participant Identification Code): 997740740
Partner’s ID if not PIC: CZ71377999
Address: Štěpánská, 120 00 Prague, Czech Republic
Legal status: public
Organisation type: Other
Website: https://www.czechinvest.org/
Total budget: EUR 169 092.00
Partner’s programme co-financing: EUR 135 273.60
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 33 818.40
- Gospodarska zbornica Slovenije-Združenje kemijske industrije
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Name: Gospodarska zbornica Slovenije-Združenje kemijske industrije
PIC (Participant Identification Code): 999780165
Partner’s ID if not PIC: SI73354376
Address: Dimičeva ulica, 1504 Ljubljana, Slovenia
Legal status: private
Organisation type: Business support organisation
Website: http://www.gzs.si
Total budget: EUR 189 000.00
Partner’s programme co-financing: EUR 151 200.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 37 800.00
- SERN - Startup Europe Regions Network
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Name: SERN - Startup Europe Regions Network
PIC (Participant Identification Code): 913040049
Partner’s ID if not PIC: BE 0567 89 26 02
Address: Av. des Arts, 1000 Bruxelles, Belgium
Legal status: private
Organisation type: Other
Website: https://startupregions.eu/
Total budget: EUR 270 000.00
Partner’s programme co-financing: EUR 216 000.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 54 000.00
- Agencja Rozwoju Regionalnego S.A.
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Name: Agencja Rozwoju Regionalnego S.A.
Department: International Projects Department
Partner’s ID if not PIC: PL5470168981
Address: Cieszyńska, 43-382 Bielsko-Biała, Poland
Department address: Cieszyńska, 43-382 Bielsko-Biała, Poland
Legal status: public
Organisation type: Sectoral agency
Website: http://www.arrsa.pl
Total budget: EUR 201 600.00
Partner’s programme co-financing: EUR 161 280.00
Partner’s programme co-financing rate: 80.00%
Partner contribution: EUR 40 320.00
Partners map

Lead partner

Project partner
Summary
Project acronym: FI4INN
Project ID: CE0100233
Project start date: 2023-06-01
Project end date: 2026-05-31
Project status: ongoing
Relevant linked projects:
- In Slovenia there are 2 relevant initiatives:
- 1) Public Tender for Co-Financing projects for the supporting of enterprise investments in research, development, and innovation on the TRL 6-8 scale.
- This tender will be included in the Recovery and resilience fund (RRF) as well as in the cohesion policy in Slovenia.
- Applicants for this initiative can be SMEs and Large companies; consortia of companies and research organizations. It is expected to support 95 research and development projects.
- They will support the development of new or improved products, processes, or services with high added value and a high potential for commercialization. In this way, supported projects will contribute to increasing productivity (including material and energy productivity) and the competitiveness of the economy.
- The subsidy amount can go up to 500,000€ / project and the project duration can go up to 2 years.
- 2) P2: Incentives for starting innovative companies – this tender is open each year.
- The P2 tender is a subsidy intended for co-financing the start-up of innovative companies, the development of a minimum viable product, and the launch of innovative products on the market.
- The purpose of the P2 financial incentive is to develop supported companies and successfully transfer the development ideas of entrepreneurial individuals and groups into market-successful companies and create new innovative companies with growth potential, with emphasis on development and commercialization of products, processes, and services.
- Maximum financing is 54.000 euro per project and it lasts around 2 years. (EN) | There is a clear synergy between FI4INN and these 2 initiatives:
- The first initiative "Public Tender for Co-Financing projects for the support of enterprise investments in research, development, and innovation on the TRL 6-8 scale" will directly benefit the Work Package 2 " Experimenting new approaches to co-design inclusive financing schemes". This initiative intends to give support to the development of new or improved processes, or services with high added value and a high potential for commercialization, and since the main goal of the WP2 is to build and test new approaches to Financial Instruments' design, driven by inclusive co-creation methodology and multi-stakeholder engagement strategies the initiative will create added value to this WP objective.
- The second initiative "P2" would have a direct impact on Work Package 1 "Promoting the adoption of innovative financial schemes for innovation". This is because the main goal of this WP is to collect knowledge on existing innovative financing initiatives in order to help identify specific opportunities and barriers on the market, which in turn, will help to bridge the gap between the market and the support mechanisms for business-driven innovations. (EN), At the moment ZEF is partnering with several EU-funded projects that are close in line with our proposal in the FI4INN project:
- 1) Interreg CE Social Impact Vouchers project - ZEF is contributing to the implementation of the financial instrument (impact investment fund) to support the employment of disadvantaged groups.
- 2) ESF Croatia - Implementation of the methodology for measurement of the social and environmental impact of companies through ECG (Economy for Common Good Methodology) which is fully in line with provisions of 2014/95/EU non-financial reporting directive as well as with guidelines and working documents that are currently in circulation and that will serve as a basis for the expansion of the directive that is expected to happen in the coming 1-2 years per EU Taxonomy.
- 3) ZEF is active in the establishment of the first European-level digital ethical bank that could also be another element in the creation of a European financial ecosystem for social and impact-oriented enterprises. (EN) | The first initiative/ financial instrument could serve as a complementary instrument in the design of the financial ecosystem for a transition towards an impact-based economy and to support and bolster social economy entities.
- The second initiative (ESF Croatia) has direct synergy with the Work Package 3 "Improving financial schemes impact through effective monitoring strategies" since the aim of this WP is to make sure financial instrument owners learn up-to-date, evidence-based approaches to measure the medium and long-term financial, economic, environmental and social impact of supporting schemes.
- At last, the third initiative is related not only with the third Work Package (since it has a common objective - "creation of a European financial ecosystem for social and impact-oriented enterprises") but also with the first Work package since it aims to promote the adoption of an innovative financial scheme for innovation. (EN), The Technology Incubation programme, launched in January 2022 in the Czech Republic will bring a number of practical tools to support 250 technological start-ups with high potential in the next 5 years.
- It connects public support with private know-how in order to increase the country's innovation potential. The project also aims at the internationalization of companies and their application in foreign markets. The key technological areas of the project’s focus include eco-innovations, AI, future mobility, space, or creative industries.
- Technology Incubation will help to develop the key industry sectors, raise the innovation potential of the SMEs and help them overcome administrative and legislative barriers. The programme takes place in Czechia, however foreign start-ups are still able to apply. Furthermore, CzechInvest is preparing a complementary programme for the Internationalization of start -ups which will aim to help dozens of innovative start-ups to go abroad and gain experience from locations such as Silicon Valley, New York, Singapore, etc. (EN) | These programmes and their application processes will serve as an inspiration for devising easier, more understandable rules of application processes to different financial instruments for SMEs and thanks to their more hands-on approach to communication with the target group, also for devising clearer communication methods with potential applicants.
- This initiative is directly linked with Work Package 1 of FI4INN's work plan, which is "Promoting the adoption of innovative financial schemes for innovation". (EN), Innova-Fi: Financial Instruments for Innovation Interreg Europe program. Under Innova-FI, partners were seeking to improve the design and implementation of Financial Instruments as a delivery mode of Structural Funds, so that they best meet and serve the financing needs of innovative and RTDI-driven businesses in all the stages of their start-up and growth. Innova-FI partners have done this by learning about the innovation landscape, and how it was being publicly financed, in partner regions. The consortium examined together identified challenges, such as: designing FIs that are well adapted to the different phases of the business; moving away from a grants culture, very much established in the RTDI and innovation field; achieving a better alignment of FIs with other support measures or creating cross-border instruments. (EN) | The Innova-FI project tackles the issue of design, efficiency and effectiveness of financial instruments supporting the development of innovation in SMEs. FI4INN consortium will build up on the Innova-Fi experience on Peer-learning activities and local support group creation & facilitation. Innova-Fi is currently in monitoring phase and action plan implementation – there are possible synergies and interactions with FI4INN activities that’ll bring an added value and strengthen the impact of the project. Foreseen Pilot Actions can be a follow-up of activities of already established cooperation of relevant financial institutions in the regions.
- FI4INN partners that also cooperated in the frame of Innova-Fi – FINN, ARRSA and SERN – will build multi-stakeholder engagement strategies on the knowledge and experience gained within the implementation of Local Support Group format of Innova-Fi and will share it among the partnership.
- Activities foreseen in the FI4INN will roll-out territorial, jointly developed solutions and bring an added value for already established alliances. Network of contacts created within Innova-Fi on the European level, covering regions outside the CE area, will be the possibility to leverage the effect of undertaken activities and can be a relevant audience of institutions dealing with financial instruments to present FI4INN project in the wider territorial scope. (EN), SmartFi: Smart methods to improve the performance of financial instruments for SMEs, H2020-INNOSUP-05-2018-2020;
- The main objective of the project was to improve the efficiency and minimize the risk of financial instruments for innovation for SMEs
- through the integration of design thinking skills and processes into the design and management of the financial instruments in order to become user-friendly. Given that all partners design and implement financial instruments for SMEs, SmartFI project aimed to help the partners overcome a common challenge: to increase the satisfaction of the SMEs participating in financial instruments and the number of the participating SMEs. (EN) | The main goal of the project was to improve the efficiency and minimize the risk of FI provided for innovation for SMEs. It was through the integration of design thinking skills and processes into the design and management of the FIs to become user friendly. FI4INN will use and re-think the results of the SmartFi final document - Design Option Paper - in terms of end-users’ involvement and multi-stakeholder engagement strategies implementation in the FI design.
- The “Design Option Paper” is a toolbox/guide that helps innovation agencies and financial institutions to:
- - Minimize investment risks of the financial instruments by developing a method that
- can be used during the investment decision phase of all financial products
- - Create user-friendly financial instruments by using the tool Financial Instrument Blueprint that will be developed
- - Understand what are the needs of their target groups (SMEs) by using “Persona tool”
- - Map SMEs journey when participating in a Financial Instrument by using the “Business Journey Tool”
- - Identify the level of SMEs satisfaction per type and stage of a financial instrument
- - Find the gaps/ issues and improve the process/ structure of the Financial Instruments
- - Learn to test the new financial instrument before the full launch in the market by using “Prototyping Methods”
- ARRSA, who was involved in SmartFI, will share the guidelines developed and will use them as a base for the implementation of WP 2. The Twinning+ methodology itself, used for the preparation of the DOP by SmartFI partnership, will be used for the implementation, further elaborated, and adjusted to the project scope of WP 2 of FI4INN project.
- The challenge indicated in SmartFI will be further examined in the FI4INN. Measuring the impact and monitoring & evaluation strategies that are at the scope of WP 3 will bring an added value for the SmartFI results by the complementary knowledge of the post-investment phase. (EN), FI-COMPASS European platform on financial instruments:
- Fi-compass is a European platform on financial instruments under the European Structural and Investment Funds, promoted by the EC in partnership with the European Investment Bank.
- It is aimed at providing practical know-how and learning tools on financial instruments. These include ‘how-to’ manuals, factsheets and case study publications, as well as face-to-face training seminars, networking events, and video information. Finpiemonte has been actively participating in the platform. (EN) | Finpiemonte has been actively participating in the platform and it could promote the FI4INN outputs to FI-COMPASS platform for a fruitful exchange of experiences. Also, in the conception and collection of Finance Schemes and instruments for the knowledge center, FI-COMPASS can be an inspiring example of such type of tool. (EN), IFISE project – Innovative financial instruments in support to the social economy
- Finpiemonte was coordinator of the IFISE project (September 2017-June 2019) financed by DG Regional and Urban Policy to design innovative Financial Instruments in support to the Social Economy.
- IFISE was a Multi-regional assistance (MRA) project under the Fi-compass action, for the assessment of the potential use of financial instruments supported by the European Regional Development Fund (ERDF) and the European Social Fund (ESF). (EN) | There are some synergies between FI4INN and IFISE project:
- - In A1.2, FI4INN will benefit from the Assessment Of The State Of The Art Of Financial Instruments analysed in IFISE project;
- - In D.1.2.2, a training scheme for capacity building, for the implementation of innovative FIs for the social economy develppped in IFISE, will use as sourse of best practices;
- Finally, the IFISE handbook with guidelines for the setting up of social impact focused FIs could provide useful insights for FI4INN.
- (EN)
Total budget/expenditure: EUR 2 091 712.00
Total EU funding (amount): EUR 1 673 369.60
Total EU funding (co-financing rate): 80.00%
Co-financing sources:
- ERDF: Amount, EUR 1 673 369.60. Co-financing rate, 80.00%.
Investments, deliverables, policy contributions
(bullets are inserted automatically and may be incorrectly placed)
Deliverables:
- Analysis of SME satisfaction with the current opportunities
- Recommendations to simplify FIs access
- Virtual knowledge center for innovative support schemes
- 3 transnational knowledge transfer workshops on innovative intervention models
- D1.2.3 - Lessons learnt report to implement diversified portfolio of financing schemes in CE regions
- FI4INN Communication strategy and exploitation plan
- 8 Dissemination Events (live, hybrid or online)
- Memorandum of Understanding for long term cooperation
- Guidelines to effective multi-level stakeholders’ engagement in financial ecosystems.
- Agreements signed by regional stakeholders
- Handbook embodying a framework for the pilots' development.
- Report on piloting scope, approach and transnational peer review mechanism
- 7x Regional piloting concepts, time plan and expected results
- Pilot results validation workshop
- Four regional events targeting central Europe inner peripheries
- Seven online technical sessions on innovative financing schemes co-design
- Two transnational conferences where the FI4INN pilot results will be showcased
- Report about survey exercise on monitoring FI in CE regions
- SWOT analysis of FIs Monitoring & Evaluation
- Guidelines on setting significant KPIs to evaluate the process.
- Guidelines on setting significant KPIs to evaluate the FI beneficiaries’ performance.
- Toolkit for designing a robust but lean M&E strategy applicable to FIs
- Transnational event about how to improve financing schemes life cycle for a greater accountability
- Regional action plans description (FVG, Carinthia, 1 region tbd in Slovenia and 1 in Hungary)
Contribution to wider strategies and policies:
- EUStrategyDanubeRegion FI4INN is in line with the Priority Area 07 "To develop the Knowledge Society (research, education and ICT) and to the Priority Area 08 "To support the competitiveness of enterprises" and with its main actions, such as to foster cooperation and exchange of knowledge between SMEs, academia and the public sector in areas of competence in the Danube Region; to improve business support to strengthen the capacities of SMEs for cooperation and trade.
- TerritorialAgenda2030 AGENDA 2030 has several scopes in line with the project FI4INN, such as effective regional innovation systems, higher levels of research, development and innovation activities and also skilled labour force, as well as good entrepreneurial and natural environments. In circular value chains there is emphasis on competitiveness and creativity of their enterprises and start-ups as well as on local assets, characteristics and traditions, cultural, social and human capital and innovation capacities, least are also mentioned in chapter “Better balanced territorial development utilising Europe’s diversity” together with global competitiveness across Europe. Also Smart specialisation strategies and European research and innovation policies, such as Horizon Europe or the Joint Programming Initiative Urban Europe, can play an important role in the circular economy transition. Since the EIB Group can play an important role in financing sustainable investments of all sizes in areas covered by the Territorial Agenda, it is invited to contribute to pilot actions, in particular to support the development of better funding approaches in the territorial context complementing the European Commission. This can include supporting place-sensitive investments through lending, grant-loan blending and advising Member States and key players about territorial project preparation and implementation as well as the use of financial instruments.
- EUStrategyAlpineRegion FI4INN will contribute to the 1st Thematic Policy Area "Economic Growth and Innovation" where the project is in line with two priorities: 1. Developing innovation and research, 2. improving and developing support for enterprises. Through developing new financial mechanisms, the project is connected with both of them. FI4INN may impact in particular on the action 1 "Development of an effective ecosysten for R&I" that is one of the key topic of the project.
- EUStrategyAdriaticIonianRegion FI4INN is providing answers to the topic raised in the Pillar 1 Blue growth, namely “Blue technologies”, whereas is mentioned that the Strategy should promote joint innovation investments aiming at widening the pool of resources and knowledge bases or at accessing complementary assets.Provided this, FI4INN is also in line with the 1st Thematic Policy Area: Economic Growth and Innovation whose objective is to ensure a "Fair access to job opportunities, building on the high competitiveness of the Region" and in the particular it will contribute to the actions addressed to create links between the research centres and the business, improving and developing support for enterprises.
- EUStrategyBalticSeaRegion FI4INN is in line with the objective 3 of the strategy, which is focused on increasing prosperity and support the companies of the area in improving their market uptake and competitiveness on the global market. FI4INN is also matching with the issues reported in Policy Area “Innovation” and may impact in particular on the Action 3, whereas the scope is to connect Baltic Sea region innovation ecosystems and promoting access to public, research and business groups, to engage them in the collaborative process of co-creation to bridge the existing knowledge, skills and market access gaps for SMEs. Moreover FI4INN may contribute to the increase of joint innovation investments aiming at widening the pool of resources and knowledge bases or at accessing complementary assets.
- Other The project is in line with the Next-generation EU initiatives, funding a set of interventions in each target country addressed to support the EU countries affected by COVID-19. Europe will be greener, more digital, more resilient, and a better fit for the current and forthcoming challenges. Single market, innovation, and digital is one of the priorities of intervention.
Programme Common Output Indicator:
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RCO 084 - Pilot actions developed jointly and implemented in projects, Measurement unit:
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RCO 116 - Jointly developed solutions, Measurement unit:
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RCO 083 - Strategies and action plans jointly developed, Measurement unit:
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RCO 087 - Organisations cooperating across borders, Measurement unit:
Delivered output indicator(s):
- (RCO87) Organisations cooperating across borders: 20.0
Programme Common Result Indicator:
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RCR 084 - Organisations cooperating across borders after project completion, Measurement unit:
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RCR 104 - Solutions taken up or up-scaled by organisations, Measurement unit:
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RCR 079 - Joint strategies and action plans taken up by organisations, Measurement unit:
Project part of European Union Macro-Regional or Sea Basin Strategy: EUSBSR
EUSBSR Priority (Policy) area / Horizontal action:
EUSBSR Degree of compliance:
Project part of European Union Macro-Regional or Sea Basin Strategy: EUSALP
EUSALP Priority (Policy) area / Horizontal action:
EUSALP Degree of compliance:
Project part of European Union Macro-Regional or Sea Basin Strategy: EUSDR
Project part of European Union Macro-Regional or Sea Basin Strategy: EUSAIR
EUSAIR Priority (Policy) area / Horizontal action:
EUSAIR Degree of compliance:
Information regarding the data in keep.eu on the programme financing this project
Financing programme
2021 - 2027 Interreg VI-B Central Europe
Last month that data in keep.eu was retrieved from the Programme's website or received from the Programme
2025-03-31
No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)
100 / 100 (100%)
No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)
1 017 / 1 074 (94.69%)
Notes on the data
Programme's webpage last visited on 2025-03-17.