Technip joins 44 major groups in signing French SME pact

24-Apr-08

Technip, leader in the field of oil, gas and petrochemical engineering, construction and services, has joined the SME Pact. In joining the 44 major Groups that have signed the SME Pact, Technip has affirmed its determination to contribute to the growth of innovative small-to-medium size enterprises (SMEs). Membership in the Pact will give Technip access to the state-of-the-art expertise of a network of close to 2,000 SMEs for Research and Development programs and project execution. In the highly competitive oil services sector, where technologies are key competitive advantages, research and development is a vital part of strategy. The highly technological and inter-disciplinary nature of such R&D programs necessitates the sharing of the competencies and means of many economic factors, and in particular, SMEs which are an essential part of the French industrial fabric. This initiative was created in September 2007 by the OSEO (French public agency whose mission is to provide financing and assistance to SMEs) and the Comité Richelieu, aims to facilitate relations between SMEs and large corporations. The purpose of the SME Pact is to facilitate and strengthen relations between innovative SMEs and large enterprises in both the private and public sectors. It has a three-fold objective: " To increase the turnover of innovative SMEs " To enable open innovation and to develop competition for major accounts " To strengthen growth and employment. To accomplish this, several tools are provided to the signatory Groups and the 1,920 SMEs that have joined the SME Pact to date. In addition to relationship building within the framework of the SME pact, OSEO also offers financing adapted to the needs of innovative SMEs (innovation assistance, financing of intangibles, debt re-financing etc.). The SME Pact actively promotes innovation enabling the emergence of tomorrow's champions. The aim of this policy is to help French SMEs with growth potential to develop and conquer international markets.