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Achievements & Learning Points
A presentation to the FITT Conference, Brussels by
David Moir, St John’s Innovation Centre,
Cambridge UK
10th May 2011
Partnership & Objectives
• A Consortium of 9 organisations from 5 EU countries including 2 universities, 2 business incubators, 2 specialists in early-stage financing, 2 incubator networks and a communications specialist.
• A Partnership of 45 leading-edge business & technology incubators, 8 ICT clusters, 5 early-stage investors and 4 stakeholders across 28 European countries plus an Advisory Council of 8 policy experts from across Europe.
• A set of objectives focused on:-o assisting 400 European SMEso assembling a powerful toolkito establishing the Entrepreneurship & Innovation Exchange (EIX)o investigate and contribute to new early stage funding modelso investigate & enhance networking between clusters and incubatorso evolve & deliver strong policy advice
OUTCOMES – the EIX & Tools
Entrepreneurship & Innovation Exchangeo EIX at the heart of ACHIEVE More (http://eandix.ning.com/ )
o 535 members, 49 countries (EU, Brazil, NZ, Bahrain)o Entrepreneurs, incubators, investors, clusters, researcherso Hub for blogs, documents and tool sharing
Tools o ISMA 360 © - Marketing strategy development
- 100+ coaches trained, 300+ SMEs coachedo Investor Readiness - 2-day course “to understand how investors think”
- Now run by many incubators in the EIX: Delft, Gate Garching, Timisoara
- 41 training sessions, 752 businesses 59 investments, total €9.9m disclosed
OUTCOMES – PPP Seed Funds
Fund Type Size Public:Private
Sources of Funding Managed by
Invest per company
Chalmers Centre of Excellence
€17m 1:2 EIF, Chalmers U of Tech, Länsförsäkringar Alliance, 6th Swedish National Pension Fund, alumni
Chalmers Innova-tion
<SEK0.5m (€45k) in incubation Phase. < SEK1.5m total
Main Port Industry Specific
€8m 1:1 TechnoPartner, Delft U of Tech, Rabobank, KLM, Schipol Group
Rabobank Average may not exceed €800,000
NE Angel Regional €19.5m 1:1.3 NE Finance, local angels
Rivers Capital
£50k to £150,000
OUTCOMES – Networking & Media.
Cluster – Incubator Networkingo Progress on understanding & exploitation of complementarities between
incubators and clusterso Survey shows fields of activity for further cooperation
Media Communications Strategyo Support European policy of applauding:o Starting own business / Willingness to take riskso Media Library:o 43 films (each available in English, French, German, Spanish, Italian &
Polish versions) document experiences in incubators, start-ups and ICT clusters in 6 countries
o Films downloaded >7,000 times
OUTCOMES – Overall Impact
External Funds Leveraged > €54.4M
Total SMEs Impacted 1002 (direct) + 772 (indirect) = 1774
Percentage of Target 400 SMEs 251% (direct) + 193% (indirect) = 444%
CONCLUSIONS
Our Policy Recommendations focus on 5 areas:-o Support of Skills Needed for KIS Ventureso EIX Networking Platformo Establishing PPP Seed Fundso Clustering Better Practiceo Media Communications Strategy
Paramount in terms of Future Lessons are:-o Tools – Effectiveness of “train-the-trainer” approacho EIX – the power of social networking but ...o Seed Funds – investor education (understanding KIS)
– importance of tax breaks
– cross border lessons