Tech Commercialization Project (TCP) in Kazakhstan Thomas D. Nastas Member International Science & Technology Board (ISCB) Tech Commercialization Project, Kazakhstan
What Gaps Exist in Peru? Research funding Public innovation funds Angel investors VC investors Basic & applied research Proof of concept & bench model Prototype Company formation (series A/B) Licensing or selling IP Product launch & growth
The Finance Chain in USA Research funding Public innovation funds Angel investors VC investors Basic & applied research Proof of concept & bench model Prototype Company formation (series A/B) Licensing or selling IP Product launch & growth
TCP Finances the Market Gap in Kazakhstan Research funding Market Gap: No/too little $ from public or private sources to finance proof-of-concept to commercialization: TCP makes tech ready for customers &/or angel/vc investors Angel & VC Investors Basic & applied research Proof of concept & bench model Prototype Company formation (series A/B) Licensing or selling IP Product launch & growth
Why Finance this Market Gap?
So Tech Meets Customer &/or Investor Needs to Prove that: Yes a Market Exists! Yes They Pay! Yes the Tech Works! Yes, Customers Get It!
And Tech & SMEs Are Ready for SRG 1Short-listed Round proposals (301) (23) received selected by by March May 19th, 31, 2011 Markets & Customers (& Venture Capital if Needed) JRG Proposals Short-listed (12) selected by May 19th, 2011
Financing Results (as of 15.11.2013) SRG + JRG Proposals (12) Selected: 15 June 2011 SRG 1Short-listed Round proposals (301) (23) received selected by by March May 19th, 31, 2011 1 3 3 1 1 3 agriculture medicine-pharma-biotech ICT-education nanotechnology construction oil-gas 10 Projects Financed in 2011 $10.5 million Committed $1 million/project 1 2 SRG + JRG Proposals (12) selected: 22 June 2012 2 1 1 3 2 agriculture medicine-pharma-biotech ICT-education nanotechnology electronics oil-gas metallurgy 12 Projects Financed $13 million Committed $1 million/project SRG + JRG Proposals (12) selected: 14 November 2013 12 Projects Financed $10.5 million Committed $875,000/project
Big Demand for Commercialization Financing In 2011 International Science & Technology Board (ISCB) received: 304 research proposals in Senior Research Group (SRG) 63 research proposals of Junior Research Group (JSG) 10 projects selected for finance, $10.5 million committed $1+ million/project In 2012 International Science & Technology Board (ISCB) received: 208 research proposals from Senior Research Groups (SRG) 24 research proposals from Junior Research Groups (JRG) 12 projects selected for finance, $13 million committed $1+ million/project In 2013 International Science & Technology Board (ISCB) received: 168 research proposals from Senior Research Groups (SRG) 32 research proposals from Junior Research Groups (JRG) 12 projects selected for finance, $10.5 million committed $875,000/project Details of TCP at this link (in English, Russian & Kazak)
Criteria for Selection (i) The quality of the proposed technology Is the proposed tech innovative? Can it contribute significantly to the state of knowledge in its field? How does the proposed research compare to established programs? (ii) The impact of the proposed program To what extent will the project enhance the infrastructure for research, commercialization, and partnerships with industry? What are the potential impacts on technology commercialization? Will the results be disseminated broadly to enhance scientific and technological understanding?
Criteria for Selection Continued (iii) The path to success Are the costs reasonable and are the time and resources (human and monetary) dedicated appropriate to the program and to accomplish the goals? Is the management plan appropriate? Are there any issues that might prevent the successful execution of the program? (iv) Alignment with commercialization aspect Does the proposed technology align with the goals of the Technology Commercialization Project, finance proof-of-concept thru market commercialization to customers?
What Gaps Exist in Peru? Research funding Public innovation funds Angel investors VC investors Basic & applied research Proof of concept & bench model Prototype Company formation (series A/B) Licensing or selling IP Product launch & growth
Next Steps To Scale the Start-Community in Peru & Make an Active Innovative Ecosystem?
Solution #2: For Investors Venture initiatives (e.g., deal flow funds) shaped to risk behavior of local investors + mentor to build an early stage tech portfolio Solution #3: For Development Finance Institutions & the Gov t Grant schemes which advance innovation thru commercialization improve the quality/quantity of IP for market acceptance, e.g., model to $85MM Tech Commercialization Project in Kazakhstan Solution #1: For Entrepreneurs Shape business models (e.g., clonentrepreneurship) to risk behavior of local investors + mentor entrepreneurs to sell risk then opportunity *ITE=Innovation, Technology & Entrepreneurship *ITE=Investment, Technology & *Click Entrepreneurship link to open & read
Thomas D. Nastas Nastas Bio + Nastas Funds (global) Tom@IVIpe.com www.scalingupinnovation.com www.ivipe.com http://www.linkedin.com/in/thomasnastas Tel. +1.517.899.1432/+7.985.923.4727 Innovative Ventures Inc. Michigan & Moscow (Russia)