Founded in 2010, ETIC’s head office is based in Vaulx-en-Velin, a suburb of Lyon, a deprived but developing city. In 2012 ETIC opened its first centre there, ‘Le COMPTOIR’ - a 350 m² co-working space for social entrepreneurs as well as a conference centre, managed by ETIC but owned by the French ethical bank La Nef. Subsequently, in 2013, ETIC helped a large insurance company to create ‘Le BeeoTop’, a 6,000 m² office building for charities and NGOs in Paris, a building that ETIC manages to this day.
ETIC has also developed and invested in three further projects, raising €1.8m from 60 ethical shareholders and €1.7m from France’s state financial institution ‘La Caisse des depots’. This capital, combined with bank loans and crowdfunding, allowed them to finance:
- Mundo-M, in Montreuil (east suburb of Paris): 1,900 m² of office, meeting, conferencing space with an organic café that will open in March 2015 to house over 40 organisations
- Les Ateliers, in Castres, in the Southwest: 2,000 m² of office, meeting, conferencing space with a restaurant, fair trade and local food shop as well as a temporary exhibition space for local art and craftspeople. This will open in November 2015 and will house over 40 organisations
- Le Chateau, in Nanterre (west suburb of Paris): over 2,000 m² of office, meeting, conferencing space due to open end of 2016
- A project in Lyon is also underway.
ETIC’s investors are small private shareholders including employees and tenants, as well as business angels and social investment funds. Ethical Property Belgium has invested €220k and Ethical Property UK €10k as well as offered a €50k bullet loan.
ETIC is committed to cross-collaboration between the ethical property family members. We invested €90k in two systems to increase sharing across the family: a video-conferencing system and a social network named www.socialchange.eu
. Initially developed with Ethical Property in mind, those systems have now attracted other organisations who manage ethical spaces and networks.
For more information, visit www.etic.co,
call +33 (0)4 26 78 24 63
or visit www.facebook.com/etic.fr