Projekt współfinansowany przez Unię Europejską

w ramach Europejskiego Funduszu Społecznego

Innovation – relict of the XX century capitalism?

Where are we going to after the big crisis of the XXI century

Technology vs Talents

Will we learn something?

Andrea Di Anselmo – Vice President META Group

Experience

Recognize a mistake the second time you make it

What we learned

“Compare” not “consider”

Have a “global” vision

Have a long term plan and consistent resources

Content matters more than container

Knowledge based economy

Triple helix

World class clusters

Nano technologies

Mechatronic

Biotech

ICT

WEB 2.0

Who are we?

– San Francisco? London? Lyon? Helsinki, ….. ?

Young people are leaving our cities

Our SMEs stay “micro”

We get older and older…..

Is technology a solution?

Is a SMEs driven approach a solution?

We must make the best out of what we have:

Our young talents,

their ambitions and willingness to risk

Source : Richard Florida

Knowledge – creativity - as driver for development

Knowledge - creativity driver for development

The competitiveness of our regions – as in other countries – needs to rest on the “creativity” of the women, men and companies established there

Contrary to raw materials, the creativity of a population is an inexhaustible, renewable resource provided that its learning is promoted and its fulfillment is encouraged while rooting talents in the territory

To retrain this competitive advantage, public authorities and the private sector will self-evidently need, each in their own area of competence, to pay attention to competitiveness factors

the quality of human resources, including their varied nature and mobility;

the attractiveness of both regions and their universities for talents, RTD and innovation-related activities;

the financing of creative industries and the protection of intellectual property rights;

the ability to mainstream new technology into traditional industries or to develop new uses for existing products in the absence of new market development opportunities;

leveraging creativity and talent as key regionalmarketing campaign arguments;

Investing in new markets (alternative energy sources, wellness, eco-development, etc.);

implementing public and business support service policies (public procurement) that are suited to the needs and demands of companies conducting knowledge intensive activities or rooting their future development in intangible capital;

Better framing the role of universities in local development.

Favor and stimulate:

– the spirit of enterprise and innovation

– the development of talent, and the ability to attract and retain talents

– cross-fertilization of expertise

– market applications of research results

– risk capital investment

– internationalization of thinking and planning

– openness and reward.

Only when these conditions are met can there be any

real assurance that knowledge will generate new

knowledge without exhausting the possibilities of the

sectors concerned

Entrepreneurship &

Knowledge based SMEs

“Europe needs to foster entrepreneurial drive more effectively.

It needs more new and thriving firms to reap the benefits of market opening and to embark on creative or innovative ventures for commercial exploitation on a larger scale”

….”Entrepreneurship is crucial to competitiveness”.

The Green Paper on Entrepreneurship in Europe, COM(2003) 27 final

Investing in talents

The purpose

The “Ponte sul Distretto” aims at:

promoting companies

job creation

technological development

The “Ponte sul Distretto” is addressed to unemployed graduates, living in Umbria, who have a

project of research, giving them the opportunity to work on and test their idea within a firms for a

period of 18 months

providing brilliant young researcher with fellowshipsBy

A model for Knowledge Transfer

Graduates

New Knowledge

Job practice

Creating a

“bridge”

Companies

SMEs

A model tailored around the person

A full set of

coordinated servicesFellowships

Umbria Region has committed to Meta:

O The promotion of the initiative

O The matching between hosting subjects and graduates

O The assistance in defining and writing the projects

O The tutoring for the whole duration of the projects

O The administrative and account management

A model of local development

Financed with European Structural Fund

POR Ob.3 2000-2006 Misura D4 – CIPE resources

With particular focus on fields related to the

Umbria Industrial District:

Advanced mechanics

Mechatronics

Special materials development

Micro/nano technologies

Results

Projects presented: 460

Projects financed: 215

New call for proposals launched in 2008

800 project presented

Some results

Projects by research domains

Energy

5%New Materials

5%

ICT/ Microelectronics

15%

Training/

Organization/ Human

Resource

3%

Mechanics/

Mechatronics

7%Nanotechnologies

3%

Environment/

Agriculture/ Building/

Geology

12%

Economy/ Finance/

Marketing

5%

Socio-Economy/

Communication/

Humanistic

11%

Biotechnologies/

Organic Chemistry

7%

Inorganic Chemistry

5%

Medicine/ Veterinary/

Pharmacology

8%

Aerospace

3%

Other

11%

Example

Design Knowledge Basins

Awareness raising Opportunity recognition Matchmaking Incorporation

Design Graduates Companies

Knowledge

fair

Quick Scan

Business aperitif

Compass to market

Investment forums

Risk taking and risk reward

Knowledge intensive companies need (a lot

of) money!

3 Fs (Fools/Founders, Family, Friends) are not

enough!

…All money is not the

same!!!

(Christian Saublen, Eurada)

Early Stage Financing

Pre-seed up to

0,5 $ Mln Seed up to

1-2 $ Mln

Start up

5/10 $ Mln

Second Round

10/12 $ Mln

Expansion Capital

10/50 $ Mln

Turnover

Cumulative Cash Flow

Business Angels

Venture Capital

Product

definition

No turnover

Product

Completion

Initial

commercial

feedback

Venture Capital

Product

Consolidation

Structuring of

commercial

channels

Strategic

Partnerships

Continuous

ideas/concepts/

products innovation

Consolidation of the

organisation

Partnerships and

acquisitions

EARLY STAGE RISK FINANCE (and more)

Proof of concept

funds

Seed funds

SEED FINANCING

EARLY STAGE FINANCING

START UP FINANCING

Spin-off and Start–ups

with no more than 36 months

Located in Emilia Romagna

Intervention modalities

Equity Investment

Temporary/minority position

(max. 45%)

Successive rounds investments

300 - 500.000 € average per

investment up to 1 million €

9 years up to 17 December

2013

(Possible to apply for two years of grace

to let the fund to complete its exit )

Fund Duration

Some figures…

7 investments

20% of the proposals from out of the

region/country

A solid network with the regional

stakeholders (7 MoU already signed)

PharmEste srl: Academic Spin-off of University of Ferrara in the field of Pharmaceutics, heading the reduction Neuropath Pain and Vesicular Hyperactivity.

Techgenia Spa: spin-off from the system technologies unit of Solgenia Spa. Addressing the field of informatics reliability and security through network appliance, commercialising in internet and through the network of Solgenia Group in the USA and Latin America.

RaySolar: Innovative start-up realised by two researchers from Italian National Research Council (CNR) and two young economists to realise hi-purity solar grade silicon.

H.D.S. Headmost Division Service S.r.l.: Company operating in the field of Facility Management.

Intrauma: Innovative company in the medtech sector, producing and commercialising fixing products for the care of fractures.

Passpack: internet company who developed an online password manager software and a private suite, with impenetrable cryptography, for companies and privates.

Investments

5 keys to succeed

O Team

O Team

O Team

O Product

O Market

A poor team ruins a great project

“10% inspiration – 90% perspiration”

The team

O Ability to deliver

O Ambitions

O Expectations

VCs invest in 1% of what they see

O 20% results in a total loss

O 20% succeed

O 60% survive

Common “Issues”

O Too little market ambition(no willingness to go global from day 1)

O People think too small(be ambitious but do it by milestones)

O A Business is different from an R&D project

Thank you for the attention

a.dianselmo@meta-group.com

www.meta-group.com

Projekt współfinansowany przez Unię Europejską

w ramach Europejskiego Funduszu Społecznego