TECNALIA Ventures Connection of early stage smart investors with technological start-ups in entrepreneurship ecosystems TTO Circle, Donostia, 26.05.2016

Unique Tecnalia’s Ecosystem

Valley of Death

Public funding

Private investment

Problem & needs

Spin-offs Licences

Shape bright ideas into attractive investments

Disruptive Technologies

Entrepreneurs Investors

IMPACT : Acceleration incubation programme

Identify &

Attract

Mark & Select

Protect Accelerate &

Develop

Commercialise escalaTe

Entrepreneurship Ecosystem

Identify &

Attact

Match &

Select

Protect Accelerate &

Develop

Commercialise escalaTe

Market Contracts, Sessions with customers

Entrepreneurs Venturing (TV)

Tech. Projects European & other projects

Start-ups w/ entrepreneurs

Diversified businesses w/ SMEs & corporations

Tech. licensing w/ SMEs and corporations

Investors Entrepreneurs Management

Investors & Corporate Venture

MINDS MANAGEMENT MONEY

Meeting point

• MINDS technology applied to resolve problems that matter

• MANAGEMENT entrepreneurial teams willing to convert disruptive technologies into ready-to-invest business opportunities

• MONEY seeking to transform technology based investment opportunities in business value and growth

R&D Valorization Ecosystem (II)

Confidencial © 2012 TECNALIA

Tecnalia Spin-off Policy

1. Clear and differential value proposition defined in terms of product or service that resolves a large P&L problem to a clearly defined market segment with a global reach.

2. Smart Team

3. Smart Capital (Corporate Venturing; BAs; VC; Family Offices)

4. Smart Partners (Channel)

5. Incentives aligned:

• Technology and know-how are transferred to the spin-off

• Exec Team in the spin-off is employed directly by the spin-off with equity-stock-options-ratchet schemes but no right to return to Tecnalia

6. Clear exit roadmap for Tecnalia (and hence for the investor!)

www.tecnalia.com/tecnalia-ventures