How to trigger growth of new technology based entrepreneurship planning for early stage capital and incubation support measures in Latvia
|
|
- Bertram Byrd
- 6 years ago
- Views:
Transcription
1 How to trigger growth of new technology based entrepreneurship planning for early stage capital and incubation support measures in Latvia Valdis Avotins, Viesturs Sosars, Dairis Calitis ESTER 1Workshop in Riga, September 23, 2005
2 Agenda ESTER project Organisation Risk capital program Technology incubator & seed program Future steps 2
3 ESTER project The project Creation of Early Stage Financing Sources for Small Eastern European Countries Following the Yozma Model with an acronym ESTER was initiated by University of Pavia and took place in 3 small Eastern European countries: Slovakia, Estonia and Latvia early stage support experts from Israel and Italy provided advice LIDA represents Latvia s side 3
4 Main objectives Analysis of business environment in the context of support for entrepreneurial activity, both general and technology-based Identification of real and perceived needs of potential technology-based entrepreneurs and main barriers for startingup a technology company Identification of potential financiers for early stage investments and evaluation of their perception of market needs and possible incentives Drafting of policy suggestions to the situation of early stage support in the small Eastern European countries Promotion and dissemination of these suggestions to the local and regional business and political communities and academia 4
5 Project stages Analysis of back-ground cond. Existing & potential entrepren. Supporting activities of entrepreneurship (TI) Suggestions to policy makers of entre-preneurship Potential financiers Models of early stage and VC financing 5
6 Institutional structure Setting of project objectives for Latvia Project partner meetings - 4 Operative Project Management Team meetings 19 Focus and discussion group meetings - 11 Coverage in mass media 8, TV& radio 2, press releases 2, presentations at conferences, seminars 14 Study visits - 2 Coverage in Excellent News Close co-operation with Ministry of Economics, WB experts, private sector and wide experts circle 6
7 Existing situation Dynamic growth but from low starting point, mainly based on primitive process innovations One of lowest GDP level in EU Mainly export of low processed materials with low value added Competitive advantages not fully utilised Necessity to increase commercial output of knowledge potential and knowledge usage Poor NTBC development and technology transfer capacity 7
8 Challenge in Israel (forecast) exports ($millions) Dr.Eli Opper, Chief Scientist Software Citrus? Nano biotech
9 Financial instruments Hightech Seed capital National/ EU grants Venture capital Equity capital Collateral loans Middletech Business Angels Seed capital National/ EU grants Venture capital Collateral loans Equity capital Mezzanine/ sub.loans Collateral loans Lowtech Micro-loans Business Angels Seed capital Mezzanine/ sub.loans Collateral loans Equity capital Collateral loans Starting-up Fast growth Slow growth 9
10 A. RISK CAPITAL SCHEME Reasonable investments in LVL , , , , , , m m... 5 m... NLBDF 33 projects 1995 First risk Capital investment projects financed 2004 via Risk Capital No Start-up investments No Seed money BSEF, BALTCAP, NCH, BALEF 34 projects 10
11 VC Program s objectives Facilitate entrepreneurship promoting access to risk capital financing Facilitate the establishment and development of new venture capital funds, motivate them invest in SME`s by offering state aid to private investors Attract foreign private investors to invest in Latvia Risk Capital in Latvia 11
12 PPP: Founding of VC Fund Fund of Funds Limited by 70% or 5,0 million Private Investors At least 30% of total investment in new VC fund Budget 15.0 MEUR State Support to Private Investors Target : 50/50 Investment Fund ~ million Decisions Private management 7-10 years 3 new funds 12
13 Restrictions for investment SMEs registered in Latvia Maximum investment about 1m in one project Maximum 285k in the first investment tranche Time between trenches at least 12 months Some sector restrictions (EU regulations) 13
14 Return Distribution Mechanism 1. Fund s management expenses; 2. Repay the original capital invested by private investors; 3. Repay 25% of the original capital invested by the state; 4. Priority return (hurdle rate) on private investors capital (6%); 5. Repay the remaining 75% of the state s invested capital; 6. Hurdle rate return (6%) on the state s invested capital; 7. Remaining profit, if any to private investors and FMC 14
15 Selection of Fund Managers Open tender procedure, main criteria: Amount of management fee Experience and professionalism of team members Involvement of private investors and share of private funds Business plan Program launched by Latvian Guarrantee Agency : 15
16 B: Background Existing market gap and low local entrepreneurial spirit results in few Investments particularly in high growth Start-ups The Need: sharing investor risk to encourage investments and increase the number of high growth start-up companies Solution: outsourced integrated service to motivated professional venture teams 16
17 B. The designed draft Growth4Future Scheme 1. Technology incubator grant 2. Pre-seed grant Think for month 3. Seed soft loan Management companies or Operators of TI s private companies providing space & infrastructure, management and S&M advice, basic business services and private investment structuring in exchange for equity position in the tenant company Target groups: Potential entrepreneurs from industry Potential entrepreneurs from academia Repatriating scientists and R&D personnel Regional inventors Tested in Israel, with WB experts, EU experts, local expert panels 17
18 New forms of Business Incubation in late 1990s has been driven to multiply the number of succesful, fast-growth, high technology businesses in US a) Its led by serial entrepreneur; b) it has its own seed fund drawn from founder s own, VCF or corporate partner s capital; c) it may have specific sector focus Conventional incubators offer heat, light and dial tone, but Smart Venture Investment claim to offer more, developing ideas and incubating them in-house as well as providing late seed capital and A, B and C round investment. Incubation today is seen as a way in which capital can be efficiently applied to support new technology businesses Gill D., Martin C., Minshall T., Rigby M. Funding Technology. Lessons from America
19 Naiot, Israel at a glance An Incubator working under Israel s OCS TIP (operational grant 1.8MUSD per 6 years; 35% of total TI budget) Acts as a VC willing to take higher development risk Fully owned by the OHTG, acquired in 1997 Makes 4 to 6 $500K investments annually, 8-10 NTBC in incubator Graduated companies raised >$140M Best Incubator Award five years in a row Hands-on management Investing in Medical Devices (70%), software (20%) and miscellaneous (10%) Seed finance: 200 kusd from Private HT matched with 300 kusd public loan 19
20 Technology Incubator Model Pre-seed The idea! Supporters: Self, friends and family (loans, equity and time) Incubator informally provides: -advice -contact network -seed grants (up to Ls 2,000) Experts validation INCUBATOR SIA (publicly supervised, privately managed) Seed Business plan, company formation, Business concept proof of concept or prototype Start-up R&D, customer acquisition Supporters: Self, friends and family (loans, equity and time) Supporters: Incubator (as in Seed Self, friends and family stage but with higher (loans, equity and time) intensity) Incubator formally provides: Angels (advice, coaching, -advice network, loans and equity) -coaching Banks (banking services, -training short-term loans) -contact network State and City (grants, -work space loans, g tees, indirect -financing (public and private equity) sources for loans, equity and grants) Up to 3 years Expansion Revenue and then profit Supporters: Self (loans, equity and time) Angels (advice, coaching, network, loans and equity) Venture Capital and Private Equity investors (loans, equity, advice, coaching, contact network, MIS, reporting, strategic mgt, corporate governance) Banks (banking services, short and long-term loans, leasing, trade finance, acquisition finance) State and City (grants) 20
21 Political Goals 1. Improve the competitiveness of Latvia by facilitating development of high & medium tech industries; 2. Create a potential for participation in future technologies (prestige, future competitiveness); 3. Development of new sustainable export industries (Israeli & Finnish experience); 4. Create economic champions / change the attitude of society towards technology commercialization. High growth high-tech company establishment is more expensive and it shows remarkable return after 8-10 years : longer establishment cycle; specific infrastructure required; specific knowledge needed. 21
22 1. Technology Incubator grant 9 year program (3x3 support periods) Public private partnership model Decisions made by TI private operators (PO) Grant is paid to TI operator as 30% (150 k EUR) fixed rate and 35 keur per one tenant, minimum 2 tenants are required, quarterly payments Public grant up to 100% (max. 500 k EUR) of TI s annual budget Based on Venture business not traditional incubation! 22
23 2. Pre-seed: TFM to validate a business plans before starting a new company and to leverage private equity finance in later stages To provide confidence An individual person with a business project entailing fast growth (turnover increase to at least 40-50% per year) for 0-24 months Fellowship financing covers up to 100% of eligible costs, 1 month Form of intervention Performance based grants up to 3 keuro 23
24 3. Seed I Proof of Concept soft loan Investment management: TI PO To reduce risk of seed investment To provide early stage finance to NTBC to validate business concept, study market and produce prototype Max soft-loan is LVL if statutory capital is paid 100% publicly financed, monthly payments duration is up to 6 months Forms integral part of seed II soft loan later 24
25 3. The seed program - II Investment management: TI PO Recipients young (<6 month) SMEs after business concept validation max soft loan 280 K EUR, matching with private equity investment 70%:30%, incl. seed I soft loan (total budget 400 k EUR) converts to non-refundable grant in the case of failure Project duration 6-24 months when sales appear, 5% from annual turnover should be paid back until all loan is repaid Would you apply as TI PO? - 5 from 10 would apply: 2F and 3 Local! 25
26 Outcomes 6 Years Integrated system of NTBC support created 2 TIs with 80% capacity operational and experienced, side policy measures implemented (TTC, EMP etc.) No of approved projects in TI - 86 No of successful NTBC - 46 No of NTBC graduates from TI 36 Survivals NTBC (70% from grad) - 25 No of high growth companies created Number of successful IPOs, M&As, investments in the next rounds 14 Private investment during incubation 4.0 MEUR Total private investment in next rounds 12 MEUR Sales reached (av 0.5x16) 12 MEUR Jobs created 150 Export volume reached (80% from sales) 9 MEUR 26
27 Selection criteria 1. For TIs operators TI management experience and professionalism of team members in new high growth SMEs creation Businessplan Amount of offered financing Planned running costs per SME, share of private coinvestment 2. For SMEs Registrated commercial entity in LR, younger than 6 months, planned growth over 50% Not yet in market, IPR owner or exclusive user High- or medium-tech Explicit orientation towards global market (export) Worked out draft business or / and technology plan Manageable company Significant milestones for 24 months 27
28 Existing/ approved Launch expected Planning initialised in 2006/7 OTHER SUPPORT Entrepreneurship promotion TTO IPR protection in start-ups Market exposure MARKET INTELLIGENCE NEW PRODUCTS BUSINESS SUPPORT FINANCING TFM scheme SEED SCHEME TECHNOLOGICAL INCUBATION START-UP SCHEME VENTURE CAPITAL SAP Ideas Validation Prototyping Fast growth 28
29 Side measures for Deal flow Entrepreneurship motivation scheme - outflow of 300 business ideas, 100 marketing plans, 50 business plans; Reposition of entrepreneurial / innovation culture : by informative seminars, work shops, presentations, publications in media, etc; Awareness creation program; Think for month (pre-seed grant); Innovation assistant grant scheme; motivation scheme for inventors in universities and R&D institutes; Entrepreneurship / innovation courses and innovation MBA program in RTU; Technology transfer centre; Business labs and Liaison offices in universities; Ventspils school of entrepreneurship (Chalmers model) 29
30 30 Thank you for attention!
Access to finance for innovative SMEs
A policy brief from the Policy Learning Platform on SME competitiveness July 2017 Access to finance for innovative SMEs Policy Learning Platform on SME competitiveness Introduction Entrepreneurship is
More informationEFB Position Paper: Fostering Long-Term Entrepreneurship
EFB Position Paper: Fostering Long-Term Entrepreneurship Entrepreneurship: any attempt at new business or new venture creation, such as self-employment, a new business organisation, or the expansion of
More informationEuropean Investment Fund in Support of Tech Transfer
European Investment Fund European Investment Fund in Support of Tech Transfer This presentation was prepared by EIF. Any estimates and projections contained herein involve significant elements of subjective
More informationCOSME. 31 January 2014 Tallinn, Estonia. Andreas Veispak DG Enterprise and Industry - European Commission
COSME 31 January 2014 Tallinn, Estonia Andreas Veispak DG Enterprise and Industry - European Commission Outline 1. Building on the CIP 2. What is COSME aiming at? Improving access to finance Improving
More informationINNOVATIVE ENTREPRENEURSHIP AND BASIC FUNDRAISING CONCEPTS
INNOVATIVE ENTREPRENEURSHIP AND BASIC FUNDRAISING CONCEPTS Fundraising Education and Pitch training Seminar www.seedforum.org I HAVE AN IDEA! Shall we get some money for it? Ideas worth investing in Improve
More informationAzores. FAQs. FAQs Azores. portugalventures.pt
Version 3.0 Release date: September 2017 Portugal Capital Ventures, S.A. 1 1. What is Ventures? Ventures is a venture capital investment programme targeting entrepreneurship in the. SDEA and Portugal Ventures
More informationRAPIDE - Action Groups
Subject: Themes for Dear RAPIDE Partners! Below you ll find the general description of all RAPIDE Action Groups and the preliminary distribution of RAPIDE partners along these different Action Groups.
More informationThe EIT and Entrepreneurship: s
The EIT and Entrepreneurship: s Why entrepreneurship is a must for a KIC proposal Daria Golebiowska-Tataj Executive Committee - EIT Governing Board EIT Entrepreneurship Seminar 07.05.09 EIT Mission To
More informationEIT: Making innovation happen! EIT Member State Configuration meeting. Martin Kern EIT Interim Director. 17 October 2017
EIT: Making innovation happen! t EIT Member State Configuration meeting Martin Kern EIT Interim Director 17 October 2017 t EIT Achievements & Results Our vision is to become the leading European initiative
More informationBusiness acceleration schemes for start-ups
Business acceleration schemes for start-ups Focus on internationalisation A Policy Brief from the Policy Learning Platform on SME Competitiveness Introduction Business acceleration programmes, which aim
More informationInnovation Academy. Business skills courses for Imperial Entrepreneurs
INNOVATION ACADEMY Innovation Academy Business skills courses for Imperial Entrepreneurs Innovation Academy Business skills courses for Imperial entrepreneurs Imperial Innovations has launched Innovation
More informationEstonian Entrepreneurship Growth Strategy 2020
Estonian Entrepreneurship Growth Strategy 2020 Flight plan Where We Stand Role of Entrepreneurship Growth Strategy Attracting FDI Where We Stand Our strenghts The Estonian economy is internationally integrated
More informationValuating intellectual property in innovation support. OSEO s experience
Valuating intellectual property in innovation support OSEO s experience : French public SME support institution Three major business lines: Innovation support Guarantees on bank financing Direct Financing
More informationCOSME Seminar on Participation in COSME for Enlargement and Neighbourhood Countries
COSME Seminar on Participation in COSME for Enlargement and Neighbourhood Countries 3 December 2013, Brussels Edward Tersmette International Affairs and Missions for Growth (ENTR.A2) DG Enterprise and
More informationBussines driven innovation
Bussines driven innovation Start-ups, Scale-ups and Entrepreneurship in Romania Prof. Adrian Curaj 22.11.2016 11/29/2017 1 Overview 1. Research Driven Innovation 2. Start-ups, Scale-ups and Entrepreneurship
More informationI 2 Program Frequently Asked Questions
I 2 Program Frequently Asked Questions What is the Genome BC Industry Innovation (I 2 ) Program? The I 2 Program offers repayable growth capital to businesses (with less than 500 employees), commercializing
More informationJOB VACANCY AT EIT FOOD / CLC North-West
JOB VACANCY AT EIT FOOD / CLC North-West JOB TITLE: Programme manager BUSINESS CREATION European Institute of Innovation and Technology (EIT) Food is a young and fast growing organisation focusing on entrepreneurship
More informationitechpreneurship Creating Chaos to Avoid Chaos
TM itechpreneurship Creating Chaos to Avoid Chaos 3 KAMRAN ELAHIAN INNOVATION CATALYST Global High Tech Entrepreneurship 25 years Venture Capital 15 years Global Philanthropy 22 years Global Catalyst Foundation:
More informationSIB Net Small Innovative Business Promotion Network NEWSLETTER. Spring 2011, No2
SIB Net Small Innovative Business Promotion Network NEWSLETTER Spring 2011, No2 Month Day Year Vol. 1 Issue 1 SIB Net project ensure complex activity package to increase creativity, business readiness
More informationTHE WORLD BANK EXPERIENCE ON RESEARCH & INNOVATION IN THE WESTERN BALKANS
THE WORLD BANK EXPERIENCE ON RESEARCH & INNOVATION IN THE WESTERN BALKANS Paulo Correa Practice Manager Financial Instruments Supporting Innovation Workshop March 1 st - 2 nd, 2017, Belgrade, Serbia TABLE
More informationSynergy with similar projects/initiatives in WBC countries
Synergy with similar projects/initiatives in WBC countries Project Acronym: WBCInno Project full title: Modernization of WBC universities through strengthening of structures and services for knowledge
More informationENTREPRENEURSHIP. Training Course on Entrepreneurship Statistics September 2017 TURKISH STATISTICAL INSTITUTE ASTANA, KAZAKHSTAN
ENTREPRENEURSHIP Training Course on Entrepreneurship Statistics 18-20 September 2017 ASTANA, KAZAKHSTAN Can DOĞAN / Business Registers Group candogan@tuik.gov.tr CONTENT General information about Entrepreneurs
More informationMacro-Regional Innovation Week September 2016 Trieste, Italy Technology Transfer: An Ecosystem Approach
Macro-Regional Innovation Week 26-30 September 2016 Trieste, Italy Technology Transfer: An Ecosystem Approach Anwar Aridi, PhD Innovation Specialist Europe and Central Asia (ECA) Trade & Competitiveness
More informationInnovation and Prosperity
Islamic Republic of Iran Presidency Innovation and Prosperity Fund An Overview of Iran s Innovation and Prosperity Fund for Startups Key Trends of Iran s STI in a glimpse *Unctad Report,2016 Key Trends
More informationFinancial Support Business Start Ups and Growth Companies. September 2011
Financial Support Business Start Ups and Growth Companies September 2011 1 1 2 Our Role Financial Support Agenda 3 Other Support 4 Access Support 2 Irish owned enterprise Policy analysis and advice Inward
More informationepp european people s party
ADOPTED AT THE EPP CONGRESS - MALTA, 29-30 MARCH 2017 01 The European People s Party has a long-standing record of supporting entrepreneurial spirit through concrete measures and programmes at European
More informationTHE ITALIAN AGENDA POLICIES AND STRATEGIES FOR INNOVATION STEFANO FIRPO
THE ITALIAN AGENDA POLICIES AND STRATEGIES FOR INNOVATION STEFANO FIRPO ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT HEAD OF MINISTER S TECHNICAL SECRETARIAT INNOVATIVE STARTUP ESTABLISHED FOR NO LONGER THAN
More informationName of the Business Incubator: Kalisz Business Incubator Foundation. Telephone: Fax:
BEST BUSINESS INCUBATOR IN Poland 1. Name of the business incubator and name of its head: Name of the Business Incubator: Kalisz Business Incubator Foundation Name of the Head: Mr. Piotr Sadowski Address:
More informationThe Israeli Renewable Energy and Energy Efficiency Industry
The Israeli Renewable Energy and Energy Efficiency Industry Status update and policy recommendations for leveraging Israel s R&D and industry potential - EXECUTIVE SUMMARY - October 2015 Executive Summary
More informationFinancial Instruments in Tourism Development
Financial Instruments in Tourism Development Neil MacCallum Senior Expert Advisor OECD LEED Centre Trento Overview Agenda Overview Coverage Strategies for development Private sector involvement Instruments
More informationMaking innovation happen!
Making innovation happen! Presentation on the EIT s 2018 Call for KICs t Manufacturing 3 July 2017 EIT s 2018 Call for KIC Proposals EIT Urban Mobility* Smart, green and integrated transport EIT Manufacturing
More informationInnovation Strategies and Innovation Management
Innovation Strategies and Innovation Management engage AG, September 7 th, 2017 Peter Häfner engage AG, 2017, page 1 Innovation Strategies and Innovation Management engage AG engage AG, September 7 th,
More informationOther types of finance
Other types of finance Sources as diverse as subsidies, loans and grants from governments and international organizations can be important resources for innovative entrepreneurs. Grants and subsidies are
More informationinnovationisrael.org.il Endless Possibilities to Promote Innovation
innovationisrael.org.il Endless Possibilities to Promote Innovation CONTENTS 4 Israel Innovation Authority Vision, goals and strategy Organizational structure For the benefit of entrepreneurs and companies
More informationLatest statistics August 2015
Latest statistics August 2015 Erasmus for Young Entrepreneurs is a European exchange programme for entrepreneurs initiated by the European Union in 2009. The programme seeks to give an opportunity to new
More informationDriving Jobs through Innovation:
Driving Jobs through Innovation: Fostering Science Entrepreneurship Priming Scientists into Entrepreneurs February 3, 2012 The is a product of Neworks, LLC www.neworks.biz 1 What Do Scientists Do? Research
More information1. SUMMARY. The participating enterprises reported that they face the following challenges when trying to enter international markets:
1. SUMMARY Growth-oriented entrepreneurs, especially those in small countries and those that are highly innovative, often look to international markets to grow their business. From a development perspective,
More informationThe Access to Risk Finance under the European Funding Programmes WEBINAR
Health Market The Access to Risk Finance under the European Funding Programmes WEBINAR 29 th of September 2014 Antonio Carbone - APRE H2020 NCP Access to risk finance, SME & ICT Objective To matchmake
More informationThe Agora Model for Job Creation in Nicaragua. Paul Davidson October 26,
The Agora Model for Job Creation in Nicaragua Paul Davidson October 26, 2006 pdavidson@agorapartnerships.org www.agorapartnerships.org The employment issue that the project is trying to address: The Missing
More informationSTRATEGY GUIDELINES OF BUSINESS & INVESTMENT DEVELOPMENT ( )
STRATEGY GUIDELINES OF BUSINESS & INVESTMENT DEVELOPMENT (2013-2020) 2020) Tirana, May 29, 2012 Current situation Vision, policies and policy s aim Policy objectives and products Costs and financial resources
More informationBusiness Environment and Knowledge for Private Sector Growth: Setting the Stage
Business Environment and Knowledge for Private Sector Growth: Setting the Stage Fernando Montes-Negret Sector Director Private and Financial Sector Development Department, Europe and Central Asia (ECA)
More informationBusiness Incubator Initiatives in the Caribbean Region
Business Incubator Initiatives in the Caribbean Region By Roshan Seebaluck Team Leader Business Incubation Expert IBM /Integra November 26, 2007 Agenda 1 European Union SFA 2005 2 Technology Innovation
More informationPromoting Entrepreneurial Spirit Case Studies
Promoting Entrepreneurial Spirit Case Studies Stefan Thuis TU Dortmund stefan.thuis@cs.uni-dortmund.de Content 1) Entrepreneurship programmes of EU 2) EXIST Entrepreneurship out of Science 3) G-Dur A network
More informationadvancing with ESIF financial instruments The European Social Fund Financial instruments
advancing with ESIF financial instruments The European Social Fund co-funded by the European Social Fund are a sustainable and efficient way to invest in the growth and development of people and their
More informationGood Practice examples
examples in start-up activities initiatives collected Business Academy South West Denmark VET4Start-Up Erasmus+ KA2 Strategic Partnership VET Project Project no. 2014-1-IT01-KA202-002487 CUP G36G14000530006
More informationTerms of Reference (ToR) Jordan Innovative Startups and SMEs Fund (ISSF Company) Manager
Terms of Reference (ToR) Jordan Innovative Startups and SMEs Fund (ISSF Company) Manager I. ASSIGNMENT BACKGROUND 1. The Innovative Startups Fund Company (ISSF Company) aims to increase early stage equity
More informationSTANDARD SUMMARY PROJECT FICHE. To increase the competitiveness of Slovak industry on the international markets.
STANDARD SUMMARY PROJECT FICHE 1. Basic information 1.1 CRIS Number: 2002/000.610-12 1.2 Title: Industry Development Grant Scheme (IDGS) 1.3 Sector: Economic and Social Cohesion (ECOSOC) 1.4 Location:
More informationTrading our way out of trouble. Liberalisation and trade past, current and future policy trends
Trading our way out of trouble. Liberalisation and trade past, current and future policy trends Christoph Steck Director Public Policy OECD ICCP workshop on ICT & Innovation Paris, 11.12.2008 Innovation
More informationAction Plan for Startup India
M.M.K. Sardana * [Abstract: This Note elaborates the Action Plan Government of India for the Startups.] People have the potential to work hard and all they need is a promising start. Many people have ideas
More informationFrom Technology Transfer To Open IPR
From Technology Transfer To Open IPR The traditional models to release the research finding from many institutions like Universities, are in most of the cases badly outdated and broken. Leading a big portion
More informationEuropean Investor Gate (EIG)
European Investor Gate (EIG) 611076 FP7-ICT-2013-10 Coordination and Support Action 11.5(b): Cross border services, investment readiness and legal advice for ICT SMEs, start-ups and entrepreneurs Work
More informationDIGITAL MADE IN ITALY
DIGITAL MADE IN ITALY The leading innovation hub European Mid Small Cap Forum Alberto Fioravanti, Digital Magics Founder and Executive Chairman Alessandro Malacart, Digital Magics Managing Director Corporate
More informationTowards a Common Strategic Framework for EU Research and Innovation Funding
Towards a Common Strategic Framework for EU Research and Innovation Funding Replies from the European Physical Society to the consultation on the European Commission Green Paper 18 May 2011 Replies from
More informationFinancing technology transfer & Seed finance. Discussion document for the workshops EUROPEAN COMMISSION
EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR ENTERPRISE AND INDUSTRY Financing SMEs, entrepreneurs and innovators Financing technology transfer & Seed finance Discussion document for the workshops Brussels,
More informationProviding the right framework in a world of increased competition : the role of government and industry bodies
Providing the right framework in a world of increased competition : the role of government and industry bodies Brian Nicholson Director Centre for Development Informatics Agenda Background A model for
More informationPanel: Regional Investors and Financial Intermediaries
Panel: Regional Investors and Financial Intermediaries Workshop on Investment Vehicles and Financial Investments supporting Technology Transfer and Innovation Belgrade, 1-2 March 2017 Background and expertise
More informationStudying and promoting Entrepreneurship at the NTUA: A brief account
Studying and promoting Entrepreneurship at the NTUA: A brief account Yannis Caloghirou, NTUA The 12 th annual Infostrag Ermoupolis Seminar, Ermoupolis Syros, July 7-9, 2017 Studying Entrepreneurship Research
More informationCo-creating cross-border innovation ecosystems: Lessons from the EIT. Jose Manuel Leceta Ingenio, 2014
Co-creating cross-border innovation ecosystems: Lessons from the EIT Jose Manuel Leceta Ingenio, 2014 INTRODUCTION WHY A DIFFERENT APPROACH TO INNOVATION IN EUROPE IS NEEDED. WHY THE EIT? AGE DISTRIBUTION
More informationOPEN. for your business
OPEN for your business The aws universe Boosting innovation: Austria Wirtschaftsservice GmbH (aws) is the Austrian Federal promotional bank. Our mission is to support young innovative start-ups, founders,
More informationECOSYSTEMS AND NEW TOOLS FOR FUTURE AT BUSINESS FINLAND TEIJA LAHTI-NUUTTILA
ECOSYSTEMS AND NEW TOOLS FOR FUTURE AT BUSINESS FINLAND TEIJA LAHTI-NUUTTILA STRATEGIC INTENT FOR FINLAND We Catalyze New, Sustainable Growth through Innovation, and International Collaboration 1 2 Global
More informationHorizon 2020 Financial Instruments for the Private Sector, Especially SMEs An Overview
Horizon 2020 Financial Instruments for the Private Sector, Especially SMEs An Overview Samuël Maenhout Policy Officer of Unit for "SMEs, Financial Instruments and State Aid" (B.3) DG Research and @ 'Bridging
More informationMinsk September Startup Funding Best Practice aws/austria
Minsk September 2017 Startup Funding Best Practice aws/austria aws - Who we are Austria s federal promotional bank - over 60 years of know-how in entrepreneurial, economic and innovation support. Our mandate
More informationOPERATIONAL PROGRAMME INNOVATION AND COMPTITIVENESS
OPERATIONAL PROGRAMME INNOVATION AND COMPTITIVENESS 2014-2020 Synergies between European Structural and Investment Funds & Research and Innovation Funding: The Stairway to Excellence Sofia, 14 th of July
More informationMaking the Greek Startup Ecosystem Happen - Now
Making the Greek Startup Ecosystem Happen - Now Presentation on SEV Conference: Designing the Future with Investments APRIL 2018 1 Copyright 2017 by The Boston Consulting Group, Inc. All rights reserved.
More informationCIP Innovation and entrepreneurship, ICT and intelligent energy
MEMO/06/226 Brussels, 1 June 2006 CIP Innovation and entrepreneurship, ICT and intelligent energy CIP is a programme for SMEs bringing together several existing EU activities that support competitiveness
More informationAn Outlook of the Chilean Venture Capital Industry
An Outlook of the Chilean Venture Capital Industry Rodrigo Castro Chairman Chilean Venture Capital Association Chile Day 2017 London UK Content 1 What is Venture Capital? 2 Venture Capital Timeline in
More informationETH Innovation & Entrepreneurship Lab
ETH Innovation & Entrepreneurship Lab Friday, 24 November, 2017 Dr. Tomas Brenner Innovation & Entrepreneurship Lab, ETH Innovation & Entrepreneurship Lab ETH Tomas Brenner 18. Oct. 2017 1 Missions of
More informationOperational Programme Entrepreneurship and Innovations for Competitiveness Regional Office of CzechInvest for South Moravia region
Operational Programme Entrepreneurship and Innovations for Competitiveness Regional Office of CzechInvest for South Moravia region Ing. Hana Rozkopalová regional project manager Brno, 15. April 2015 OP
More informationLocal innovation ecosystems
Local innovation ecosystems Lessons learned from local governments September 2017 Contents 1. Executive summary... 3 2. Key findings... 3 3. Challenges and bottlenecks to local innovation systems... 4
More informationSEED SUPPORT SYSTEM (NIDHI-SSS)
NATIONAL INITIATIVE FOR DEVELOPING AND HARNESSING INNOVATIONS (NIDHI) SEED SUPPORT SYSTEM (NIDHI-SSS) GUIDELINES AND PROFORMA FOR SUBMISSION OF PROPOSALS Government of India Ministry of Science & Technology
More informationRepublic of Latvia. Cabinet Regulation No. 50 Adopted 19 January 2016
Republic of Latvia Cabinet Regulation No. 50 Adopted 19 January 2016 Regulations Regarding Implementation of Activity 1.1.1.2 Post-doctoral Research Aid of the Specific Aid Objective 1.1.1 To increase
More informationENTERPRISE LEIDEN FUND
ENTERPRISE LEIDEN FUND Enterprise Leiden Fund provides a loan to ambitious and enterprising people. The funding enables you to focus on enhancing your entrepreneurial skills and developing the business
More informationIs the EIT a model for realizing the knowledge triangle?
Is the EIT a model for realizing the knowledge triangle? Alexander von Gabain Chairman of the EIT Governing Board 30th Conference of Rectors & Presidents of European Universities of Technology, Sept 2011,
More informationDeclaration on a Pan-European Ecosystem for Innovation and Entrepreneurship
Declaration on a Pan-European Ecosystem for Innovation and Entrepreneurship July 2018 As the Fourth Industrial Revolution fundamentally reshapes the ways we live, work, and relate to one another, Europe
More informationNEWSLETTER. Cross-border business idea contest: Innovative business ideas wanted. Autumn 2010, No1. Business Angels Network - to be or not to be
SIB Net - Small Innovative Business Promotion Network NEWSLETTER Autumn 2010, No1 Success stories from Latvia Pre-incubation Cross-border business idea contest: Innovative business ideas wanted Business
More informationIntroduction & background. 1 - About you. Case Id: b2c1b7a1-2df be39-c2d51c11d387. Consultation document
Case Id: b2c1b7a1-2df4-4035-be39-c2d51c11d387 A strong European policy to support Small and Medium-sized enterprises (SMEs) and entrepreneurs 2015-2020 Public consultation on the Small Business Act (SBA)
More informationFinance 4 Growth Sources of Finance
Finance 4 Growth Sources of Finance Donnchadh Cullinan 13 th June 2012 The Funding Journey Donnchadh Cullinan 13 th June 2012 The Funding Journey The Foundations: A well prepared business plan with milestones
More informationFrequently Asked Questions
Fast Track to Innovation Pilot (2015) Call opening: January 6, 2015 First Cut-off Date: April 29, 2015 Frequently Asked Questions Official European Commission document December 2014 Contents A. Eligibility
More informationThailand 4.0: SMEs in the Context of Thailand 4.0
2016/SMEMM/010 Agenda Item: 3.1.2 Thailand 4.0: SMEs in the Context of Thailand 4.0 Purpose: Information Submitted by: Thailand 23 rd Small and Medium Enterprises Ministerial Meeting Lima, Peru 9 September
More informationTHE BETTER ENTREPRENEURSHIP POLICY TOOL
THE BETTER ENTREPRENEURSHIP POLICY TOOL SOCIAL ENTREPRENEURSHIP SELF-ASSESSMENT STATEMENTS Social Entrepreneurship Culture Institutional Framework Legal & Regulatory Frameworks Access to Finance Access
More informationPaper on Business Incubator Framework
HIGHER EDUCATION H-9, Islamabad (Pakistan) Phone :(051) 90400000 Paper on Business Incubator Framework 1 Table of Contents Background 3 Advantages of Academic Affiliated incubator 4 Incubator Structure
More informationUniversities and EDOs
Universities and EDOs Working together for Economic Development Greg King greg.king@gatech.edu 478.471.5398 Agenda Why Work with A University? Describe the Evolving University Context and Missions Roles
More informationSourcing Innovation From the Migration of Companies To, From and Between Emerging Markets
Sourcing Innovation From the Migration of Companies To, From and Between Emerging Markets Tom Sweeney CEO & Managing Director STEM 7 Capital Partners Ltd Big Trend: The Globalization of the Commercialization
More informationDeveloping an Entrepreneurial Culture for Faculty, Researchers, and Students
Proceedings Teaching Entrepreneurship to Engineering Students Engineering Conferences International Year 2003 Developing an Entrepreneurial Culture for Faculty, Researchers, and Students Abigail Barrow
More informationA Technology focus for science parks but what about the clients? UKSPA 30th Anniversary Summit. Roger Pitfield Director Horizon Europa Ltd
A Technology focus for science parks but what about the clients? UKSPA 30th Anniversary Summit Roger Pitfield Director Horizon Europa Ltd What s changed for SME s Support for Research and Innovation from
More informationThe Start-up and Scale-up Initiative
The Start-up and Scale-up Initiative Content 1. - Results of the public consultation & how to interpret them 2. - Barriers & how to overcome them 3. Ecosystems & how to connect them 4. IP Rights & how
More informationJOB VACANCY AT EIT FOOD
JOB VACANCY AT EIT FOOD JOB TITLE: Junior Communication Manager, CLC West (Leuven) European Institute of Innovation and Technology (EIT) Food is a young and fast growing organisation focusing on entrepreneurship
More informationSynergies between the EIT, its. Innovation Communities and the NCPs A sustainable energy future for Europe, by EIT InnoEnergy
Synergies between the EIT, its Innovation Communities and the NCPs A sustainable energy future for Europe, by EIT InnoEnergy Agenda www.innoenergy.com 1 Our mission Our structure and locations Our activities
More informationportugalventures.pt
Rules and Regulations Version 3.0 Release date: September 2017 Portugal Capital Ventures, S.A. 1 Article 1 Purpose 1.1 Ventures is a venture capital investment fund created under the scope of the Azorean
More informationCompany Profile. Plan Project and Grow
Company Profile Plan Project and Grow Your guide to global market access and management of models oriented to International business P&F Technology was founded in 2003 by the experience of the owners in
More information7. Ownership and Management of Incubators
A high-technology incubator in Belo Horizonte (Brazil) plans to develop revenue sources from consulting and other high-value services to clients also outside the incubator to reduce its reliance on rental
More informationCHAPTER 2 TECHNOLOGY BUSINESS INCUBATORS GLOBAL SCENARIO
22 CHAPTER 2 TECHNOLOGY BUSINESS INCUBATORS GLOBAL SCENARIO The business incubators were first established in United States of America during late 1970s. Growth accelerated in 1970s and 1980s largely as
More informationOECD LEED Local Entrepreneurship Review, East Germany : Action Plan Districts Mittweida (Saxony) and Altenburger Land (Thuringia)
This "ActionPlan" builds on recommendations given in the draft summary report on the districts Mittweida (Saxony) und Altenburger Land (Thuringia), March 2006, presented at a regional workshop on 20 March
More informationThe 10 billion euro question. How to most effectively support innovation in Poland. Marcin Piatkowski Senior Economist The World Bank, Warsaw
The 10 billion euro question. How to most effectively support innovation in Poland Marcin Piatkowski Senior Economist The World Bank, Warsaw Seville, November 2, 2011 Outline Economic growth in Poland
More informationHEAR MORE AT A FREE ANGELS AND GOVERNMENT FUNDING SEMINAR
We have answered the call from small business clients! With over 1200 funding opportunities available to businesses in Australia, this guide is designed to break those down and help you find the right
More informationAn Overview of the Polish Startups and Start in Poland Program
An Overview of the Polish Startups and Start in Poland Program Dr inż. Janusz Marszalec, MBA Founder & CEO, Edison Centre Lecturer, Warsaw University of Technology Seminar Current Trend in Start-ups and
More informationEU support for SMEs through COSME Brussels, 16 May 2018 Finnish Liaison Office for EU R&I
EU support for SMEs through COSME Brussels, 16 May 2018 Finnish Liaison Office for EU R&I Giacomo Mattinò, Head of Unit DG GROW.H2: Enterprise Europe Network and SME Internationalization What is DG GROW?
More informationBusiness Incubation. Entrepreneurship and Innovation
Business Incubation as a Tool for Promotion of Entrepreneurship and Innovation Advancing Innovation in ECA 2007 Regional Conference of ECAbit Yerevan, Armenia, September 17, 2007 Valerie D Costa, infodev
More informationIP MANAGEMENT OF STARTUPS FROM A UNIVERSITY
IP MANAGEMENT OF STARTUPS FROM A UNIVERSITY INNOVATION AND RELATIONS MANAGEMENT (IRM) INNOVATIONS- UND RELATIONSMANAGEMENT (IRM) KIT The Research University in the Helmholtz Association www.kit.edu KIT
More information2012/SMEMM/010 Agenda Item: 2.4. SMEWG Chair Report. Purpose: Information Submitted by: SMEWG Chair
2012/SMEMM/010 Agenda Item: 2.4 SMEWG Chair Report Purpose: Information Submitted by: SMEWG Chair 19 th Small and Medium Enterprises Ministerial Meeting St. Petersburg, Russia 2-3 August 2012 Item 2.4
More information