Conselleria de Economía, Industria, Turismo y Empleo How we became a EER region Consellería de Economía, Industria, Turismo y Empleo

Conselleria de Economía, Industria, Turismo y Empleo

How we became a EER region

Consellería de Economía, Industria, Turismo y Empleo


Key info about Valencian Region

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5,1 million inhabitants; over 22 million tourists

Valencia’s GDP accounts for nearly 10% of Spain’s GDP.

13.5% of foreign citizens who live in Spain

5 commercial seaports and 2 international airports

514km of coastline


Innovative Entrepreneurship: we had an excellent platform to start with

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Regional Ecosystem to support innovative entrepreneurship

4 EuropeanBusiness

Innovation Centers(CEEIS)

8 BusinessIncubators/Accelators

Young Entrepreneur Associations

5 Science Parks

9 Universities and

Business schools

14 Institutes of technology

Business Angels network

Chambers of

Commerce


However, we visited Boston, Helsinki and Tel Aviv ecosystems to study best pratices

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After learning from the best, we completed a swot analysis…

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OPORTUNITIES1. Development of intensive-knowledge services and

high-tech industry as new economic engines 2. Transformation through continuous innovation of

traditional sectors: Hi-tech to Low tech 3. Campus of International Excellence: repercussion of

the university system 4. Self-employment as a driver of the economy and in the

fight against unemployment 5. Good interplay between the public and private agents

of entrepreneurial system. 6. Emergence of new sectors with high growth potential

(renewable energy, health care, tourism, environment, ICT, chemistry and logistics)

7. Attraction of new customers and investors from emerging countries in process of internationalization: increasing attraction of foreign capital

8. Start of administrative deregulation for business creation

STRENGTHS1. Geo-strategic position in the Mediterranean area:

Mediterranean Corridor 2. Powerful tourism sector: Tourism as a role of raising

the profile of the region. 3. Experience in foreign markets, especially in sectors such

as automotive, food,&agriculture, footwear & ceramic4. Important network of traditional SME’s with capacity

for growth and expansion by using new technologies: nanotechnology, biotechnology and advanced manufacturing technologies

5. Strong innovative capacities along with excellent scientific and academic infrastructure

6. Large availability of human capital/resources due to improvements in education. Better academic and training levels of entrepreneurs

7. Provision of industrial land in attractive conditions and excellent access

THREATS1. Short and medium-term perspectives of slow economic

growth in and other advanced economies. Weak restarting up of domestic demand

2. Credit and liquidity constraints. Concentration of Venture Capital in and

3. Strong migration of human capital of excellence4. Limitation of productive and commercial expansion of

Valencian companies due to their small size and low level of cooperation

5. Scant consideration for entrepreneurship and fear of failure in entrepreneurial activity

WEAKNESSES 1. High unemployment rate, low education level of the

unemployed2. Issues of productivity levels and improvements pace: loss

of external competitiveness3. Scarce use of human capital, high rate of over-

qualification and low level of spending on R + D + i 4. Insufficient business vocations with appropriate training5. Difficulties for companies to grow accordingly to the

market 6. Shortage of big/international companies, as driving forces

in the global economy and in the training of executive boards.


…and we started defining the basics

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“Valencian Region is to promote entrepreneurship culture and enable sustainable, smart, and inclusive entrepreneurs through its Industrial and Economic policy, which should offer citizens and companies a better environment to create new companies and better quality jobs “

MISSION


To become a European Reference in Entrepreneurship because of:

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1. A coordinated collaborative and cross-cutting model among public administration, education entities, private sector.

2. A sound entrepreneurial culture in society and in businesses. By educating, promoting the desire to undertake as a contribution to the development of society, the improvement of quality of life and of our society, emphasizing the social aspect of job creation.

3. A high attraction to talent as a source of innovation and wealth creation.

4. A high rate of technology transfer among universities, research institutes and companies.

5. A wide consensus on strategy (Entrepreneurial Valencian Council)

VISION


We have defined our own cross cutting strategy to boost entrepreneurship

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1. Development of an attractive, sustainable, effective and

efficient Entrepreneur Ecosystem

Governance

International attraction

Entrepreneur Helpdesk

Specialization, efficiency and support throughout the cycle: idea, start-up, consolidation,

accelerationAdministrative simplification – efficiency

2. Boosting intensive knowledge entrepreneurship in emerging

and traditional sectors

Technology transfer. Interconnection supply – demand

Global Dimension for entrepreneurship & innovation

Entrepreneurship for a better Climate sustainability

3. Innovative and entrepreneurial culture committed to the region

Entrepreneurial and innovative culture

Entrepreneurship as a Goal for the Universities

Communication


Action Plan. Small Business Act Forward-looking strategy to increase the innovation potential of small enterprises.

We completely assist our SME together with our 4 Business Innovation Centers (BICs) located in Valencian Region in coordination with the key role played by our Universities(5), our 5 Scientific Parks and our 14 Technological Institutes.

Start Points helpdesk (customer service desks for entrepreneurs). Our objective: deploying throughout all our Regional territory 50 Start Points helpdesks located within public administration bodies, municipalities, private entities, professional associations, business associations or chambers of commerce.

Looking for administrative simplification and efficiency, during the EER

year CRM Entrepreneur e-CENSUS Software Development/file of the entrepreneur will be running.

‘Top Ten laws project’ to highlight our commitment to derogate laws that generate barriers for business.


Action Plan. Financing In our cross cutting strategy, boosting early stage investment is essential. Good teams/projects have to have the opportunity to overcome death valley

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Death

Valley


Action Plan. Financing The regional government has deployed financial instruments to support start ups all along their initial stages under a private co-investment basis

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Subordinated loans

Participation in VC Funds

Entrepreneurs, friends and family

Business Angels

Venture Capital funds

Venture Capital funds

Instruments To co-invest with

Other instruments: microcredit

Conselleria de Economía, Industria, Turismo y Empleo12

114 deals11M€

39 deals6 M€

6 deals2 M€

Action Plan. Financing In 3 years, regional government has co-invested 19,4M€ in 159 companies; the total amount including private investment has reached 59M€

*

* Only 1 year in place

Conselleria de Economía, Industria, Turismo y Empleo13

MITEF Inveready

Fondo 5M€ 10M€* 3M€ 17M€

Investment profile

Technology transfer

Innovation driven

companies

TICSoftware

Online services

Biotech

Office in Valencian Region

No office in Valencian

Region but investment

commitment 2x

Action Plan. Financing We also participate directly in private funds. We are currently looking for new participations in VC funds

http://www.clavemayor.es/index.php


Action Plan. Empowering entrepreneurship culture

Promoting social recognition of the entrepreneur’s figure and ensuring the transmission of entrepreneurial success is a must for us.

Promoting entrepreneurial attitudes, values, acquisition of skills leading to entrepreneurship. More than 7.740 students have already participated, at 15,480 hours. Next two years, it will be implemented with a similar participation.

Development of training programmes with special attention to teachers and professors through our Summer Camp programmes.

Closer cooperation, especially between higher education and enterprises: “the Patents Bank”. This initiative, one of the major strategic bets for technology transfer, was born in 2013 for promoting the encounter between entrepreneurs, businesses and generating innovative knowledge centers, (http://www.bancodepatentes.gva.es/).

http://www.bancodepatentes.gva.es/


Action Plan: Governance and consensus

Valencian Entrepreneur Council VEC. It is a remarkable figure of our Action Plan, because of its transversal and coordinative role.

In charge of designing a more efficient strategy for the promotion of entrepreneurship, policies management and results.

Made up of representatives from public administrations, academic institutions, social and economic institutions such as technological institutes, chambers of commerce, industry and navigation, business organizations, young entrepreneurs, cooperatives and autonomous workers’ organizations.

Acting as an advisory body, the Council shall be responsible for making proposals to help improve legislation on entrepreneurship, as the center of regional government measures

Consistent with the better implementation of the SBA and the entrepreneurial strategy.


Some relevant events

The most important event on innovation in Europe, EMTECH, improving innovation potential in SMEs. Organized by the Spanish edition of the MIT magazine Technology Review, it is considered one of the most important events in the world on technology and entrepreneurship.

The Entrepreneur’s Day which will celebrate its 10th anniversary in 2015, and (Do Networking/ Get Involved 16 workshops per year), mobilizing more than 43.000 entrepreneurs since 2006.

Sustainability is one of our key points. Valencian Region participates as one of the 6 Regions in CLIMATE KIC, one of the three Knowledge Innovation Communities (KICs) created in 2010 by the European Innovation and Technology Institute (EIT).

Iberian Techtour. International investors and top Startups from Spain and Portugal met in Valencia and Lisbon the 1st October 2014 .


This strategy is completely aligned with our industrial policies and our sectorial specialization (RIS3)

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Materiales avanzados y nanotecnolog

ías

Turismo y calidad de

vida

Promoción de la salud y

sanidad eficiente

Agroalimentación,

cosmética y productos

hogar

Hábitat: La vivienda y su

entorno

Automoción y movilidad

Bienes de equipo

Fabricación

avanzada

TIC BiotecnologíaMicro y

nanoelectrónica y

fotónica

Tecnologías energéticas y

medioambientales

Logística

Bienes de consumo

personalizado

ÁREAS ESPECIALIZACIÓN TECNOLÓGICA

EJES DE DESARROLLO

PRODUCTOS INNOVADORES

CALIDAD DE VIDA

PROCESOS AVANZADOS DE FABRICACIÓN

EJE DE SOSTENIBILIDA

D

EJE 1CALIDAD DE VIDA

EJE 2PRODUCTO INNOVADO

R

EJE 3PROCESO

S AVANZAD

OS DE FABRIC.


Let´s keep it clear…

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Some good results have already been achieved…

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Nevertheless, we are just at the beginning of a transformational change

Valencia Region´s strategy awarded as “Entrepreneurial European Region 2015”

+30 new companies are created per day

Top 3 in number of start ups in Spain; n#1 in terms of accelerators, incubators and co-working spaces

1 out of 4 people in adulthood is engaged in any of the stages of the entrepreneurial process (intention, emerging activity, new or consolidate activity). GEM report

+120 start ups are accelerated by experienced incubators/accelators

Together with London, Singapore, Seoul and Rio de Janeiro we have been selected to develop the REAP at MIT (Regional Entrepreneurship Accelerator Program)

Documents

Conselleria de Economía, Industria, Turismo y Empleo How we became a EER region Consellería de Economía, Industria, Turismo y Empleo