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HI 3

• Group Co-Chairs Louis P. Berneman, Ed.D. Former MD of Penn CTTCurrently CEO of Texelerate

Nava Swersky Sofer Former CEO, Yissum

Dirk Radzinski CEO, Humboldt University Technology Commercialization

• Participants Omer Hiziroglu Innovent AS, TurkeyJohn Hamer Burrill & Co.Gary Evans Angle Technology

• IFC / World Bank Participants Corinne Figueredo IFCKent Lupberger IFC

• Facilitator Peter Tynan Dalberg

• IFC “Circulator” Gordon Myers

• Wharton Workshop Intern Thomas Cuvelier

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HI3: The Financing Challenge

Issues

• “Missing link” building

• Adaptation of developed technology into developing countries

• Healthcare, cleantech, ag, ICT

• Indigenous tech transfer

• Idea to commercial

• Commercialization

• Need an inquiry / research base

• Funding Needs:

• Proof of concept

• Market assessment

• Secure IP

• Develop skills

Entrepreneurs

Innovative System

•International tech transfer adapted locally•Market assessment•ROW license•Development of idea / bus.•Low-tech local innovation

•POC•Mkt asst•Secure IP•Commercialization

•Lower priority•Relevant skill set

•Human Capital•Culture

•Human Capital•Culture

•POC•Mkt asst•Secure IP•Commercialization

Human Capital is a pre-requisite to developing local capabilities and providing financing

Low Income Mid Income BRIC

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HI3: Possible SolutionsQuestion: How to get technology funded and adapted to local markets?

Tech Transfer Part I to Part II Countries Facility

• Identification of Technology• Purchase of ROW license• Identify local entrepreneurs• Fund market assessment• Sectors: cleantech, ag, healthcare• Virtual network, in-country office• Applicable to all part II countries

• BRIC/US/EU

• Low-mid incomeLow Income (limited indigenous innovation)

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Innovative Systems(country with research base)

Question: How to bring in private sector funding to fund the “missing link”?

Tech Commercialization Fund (Israel/EU-like model)

• Project, not necessarily company• PPP: public first loss (WB-Country Govt), private participation/matching• Downside protection• Upside boost: private sector investors can buy out public sector’s piece at cos• Royalty-based returns + develop skills & market

• Development of country’s unique sectors with international financing, local entrepreneurs

• Funding innovation system, human capital and skills development• Local entrepreneur training (e.g. Ghana B-School)

ROW IP

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HI3: Possible Solutions (cont.)

Private ?

Government

World Bank

Private

Government?

Public, e.g. European

Investment Fund / FoF

IFC

Patent cost

• Legal infrastructure?

• Fund mechanisms?

• Incentives for fund managers?

• Framework agreements (IFC, EIF)

> Led by private actors?

• Application process for private actors

• Private actor role as an incubator

POC / Seed / Early Stage

Question: How to bring in private sector funding to fund the “missing link”?

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Innovative Systems(country with research base)

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HI3: Identifying the Missing Links

Components of an Innovation Ecosystem

1. Entrepreneurship

2. SMEs, established businesses

3. Innovative technology, education, inquiry research base

4. Management

5. Market opportunity

6. IP

7. Funding

A successful intervention will identify and address the missing link: not necessarily funding