Download - ERIC Forum Annual Meeting
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ERICForumAnnualMeeting26January2021
Jean-DavidMALODirector
EICTaskforce
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What’sholdingbackEuropeaninnovation
2
• Strongresearchperformance nottranslatedintoinnovation• Lackofbreakthrough/disruptiveinnovationsthatcreate
newmarkets
Financinggaps(“valleysofdeath”)in• knowledgetransferfromproofofconcepttobusinessplan• scalingupforhigh-riskinnovativestart-ups
Innovationperformance
Innovationfunding
Innovationecosystem• Manynational&localecosystems,butfragmentedat
Europeanlevel• Someregionswithweakecosystems
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electricity
semi-conductors
antibiotics
airplanecar
smart phone
internet
barcode
sea container
digital platforms
social media
GPS3-D printing
CRISPR-cas
Hydrogen fuel cells
blockchain
the cloud
internet of things
autonomous vehicles
new batteries
artificial intelligence
quantum computing
graphene
liquid biopsies
gene therapy
PC
past future ?
Neurotechnologies
?
Whowillleadthenextwaveofbreakthroughanddisruptiveinnovation?
current
Synthetic chemicals
USlead(andAsia,EU)
EUandUSlead
telecomms
Wholeads?
ExamplestakenfromWIPO,MIT,WEF,OECD,etc.
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Venturecapitalraised.Data:Invest Europe,NVCA/Pitchbook.(1)EUdoesnotincludeHR,CY,MT,SI,SK.
Financinggap:venturecapitalUSvsEU
25,624,6
8,6
15,116,5
18,7
15,8
26,4
31,5
38,0
6,74,6
2,6 3,3 3,5 3,2 3,54,8 4,9
6,0
0
5
10
15
20
25
30
35
40
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
billi
on e
uro
United States EU(1)
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THEEUROPEANINNOVATIONCOUNCIL(EIC)SOFAR…
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TheEuropeanInnovationCouncil
Onestopshopforbreakthrough,deep-tech,market-creatinginnovators
Agilefundingfromideatoinvestment
Opentoallinnovators,inanyfield*,atanytime
Complementedbytargetedfundingon strategictechnologiesandinnovations
Targetinghigh-risk/high-impactinnovators selectedthroughEuropewidecompetition
Pathfinderforadvancedresearchonemergingtechnologies
Transitionfromproofofconcept/labtobusinessplan/commercialsetting
Accelerator toscaleupinnovationsbystart-ups&SMEs(<€2.5milliongrant,<€15millionequity)
Accesstobusinessaccelerationservices(coaches,mentors);tocorporates&investors;toecosystem&knowledgepartners
EICProgrammeManagerstodevelopvisionsforbreakthroughs,manageportfolios,andconnecttoecosystems
Crowdinginotherinvestors (VC,corporateVC,etc)
Buildingecosystemsandcommunities
*Exceptinnovationsintendedprimarilyformilitarypurposes
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TheEIC pilotphase(2018-20)underHorizon2020isnowclosetobecompleted
ü Pilotphasebudgetof€3.5billion(2018-20),€1.55billionin2020
ü Veryhighdemand: ~12000applicationsfromSMEs/startups in2020withrequestforover€38billionsupport
ü Highlycompetitive:2-3%successrateforfunding(butalso>3.900“SealsofExcellence”tofacilitateapplicantsaccesstootherfunding)
ü Introductionof“blendedfinance”(grant+equity)andestablishmentofEICFundtomanagedirectequityinvestments(pipelineof159companiesoverthepilotphase)
ü On6January2021,afirstbatchof42Europeanstartups andSMES hadcompletedtheduediligenceprocessandeachreceiveditsfirstequity“tranche”fromtheEIC Fund,foratotalof€178million;
ü SpecialsupportforCOVID relevantinnovations: 36Startups/SMEs awardedfundingofover€160m inMay;for‘GreenDeal’innovations:64startups/SMEs awardedfundingofover€300m inJuly;andforwomeninnovators:atleast25%ofstart-ups/SMEs invitedtointerviewtohavefemaleCEO
ü FirstEICprogrammemanagersinpost:IordanisArzimanoglou(health&biotech),EnricClaverol (medtech &devices), FrancescoMatteuci (materialsforenergy&environment);Antonio(Marco)Pantaleo(energysystems)
ü ExpandedBusinessAccelerationServices(multi-corporatedays,procurer’sdays,visitstoinnovationhubs,overseastradefairs,etc.)
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PerformanceofEICpilotPathfinderPortfolio(includingFETOpen&Proactive)
Applications
Health DigitalEnergy&
EnvironmentFood&
AgricultureManufacturing/Infrastructure Sum
Techno
logies
Biotech& bioengineering 95 3 3 5 4 110
Engineering 0 6 3 0 11 20Data 7 23 2 0 1 33
Materials 23 69 41 2 38 173Sum 125 101 49 7 54 336
Ø 2662 Peer-Reviewed Scientific Publications, 72% in high profile journalsØ 590 innovations, 451 addressing new and emerging markets
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PerformanceofEICpilotAcceleratorPortfolioOver5700startups &SMEssupportedsince2014(includingpreviousSMEinstrument)
37 acquisitions17 IPOs
(95% on European
stock exchanges)
€5,3 billionFollow up
investment
43 companiesvalued over
€100m(“centaurs”)
Main thematics of innovations funded:30% in Green Deal30% in Digital30% in Health
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WHATWILLTHEEICLOOKLIKEINHORIZONEUROPE?
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“FullEIC”underHorizonEurope(2021-27)KeyelementsfromHorizonEuropelegalbase(commonunderstanding)
ü EIClegallyestablished
ü Dedicatedbudgetand separateWorkProgramme.Mainlybottom-up,butalsotargetedfunding forstrategictechnologies/challenges
ü IndependentgovernancewithEICBoard&Presidenttosetstrategy,adviseonworkprogramme,overseeimplementation
ü Creationof“onestopshop”forimplementation(agency+EICFund)
ü Improvedfundinginstruments(Pathfinder,Transition,Accelerator)&BusinessAccelerationServices,learningfrompilot
ü Moreflexiblerulesforselectionandfunding(selectionbyportfolio,abilitytostoporreorient,linkstoInvestEU)
ü IncreasedroleforEICProgrammeManagerstodevelopvisionsforbreakthroughsandmanageportfoliosofprojects
ü FasttrackaccessforHorizongrantholders(incl.EuropeanResearchCouncil)andcertifiednationalschemes(“PlugIn”)
ü EICForumwithinnovationecosystemactors
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CHAIRMark Ferguson
Entrepreneur, Science Foundation Ireland
VICE-CHAIRHermann Hauser
Co-founder of Amadeus Capital Partners
Kerstin BockCEO of
Openers
Jo BuryManaging Director of Flanders Institute of
Biotechnology
Dermot DiamondPrincipal Investigator:
INSIGHT Centre for Data Analytics, Dublin City
University
Laura Gonzalez-Estefani
Founder and CEO at TheVentureCity
Jim HagemannSnabe
Chair Siemens AG, Chair AP
Moller Maersk A/S
Ingmar HoerrFounder and Chairman of
the Supervisory
Board of CureVac AG
Fredrik Hörstedt
Vice president of utilisation
Chalmers University of Technology
Heidi KakkoPartner of
BaltCapGrowth Fund
Bindi KariaEuropean
Innovation Expert + Advisor, Connector
of People and Businesses
Anita KrohnTraaseth
Former CEO Innovation
Norway
Jerzy LangerPhysicist, Emeritus
Professor at the Institute of Physics
of the Polish Academy of Sciences
Ana MaiquesChief
Executive Officer,
Neuroelectrics
Marja MakarowBiochemistry/
molecular biology, director
of BiocenterFinland
Carlos OliveiraSerial Entrepreneur,
Innovator, Executive President
of José NevesFoundation
Valeria NicolosiChair of
Nanomaterials and
Advanced Microscopy
Bruno SportisseChair and
CEO at INRIA
Kinga Stanislawska
Managing Partner and Founder of Experior
Venture Fund
Roberto Verganti
Innovation academic,
former RISE group
Martin VilligCo-founder of Bolt (formerly
Taxify)
Yousef YousefCEO of LG Sonic
EICAdvisoryBoard
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1. EIC to pioneer a European approach to global innovation challenges:ü Unique in combining advanced technological research (DARPA like) with innovation acceleratorü Hallmark of excellence for innovators (like ERC for researchers)ü Overcome system biases, e.g. in terms of high risk, gender, regions
2. EIC to crowd in private investors:ü Filling market gaps for financing high risk/ high impact ideasü 3-5 euro for every euro allocated by EICü Generating impacts from other EU and national programmes
3. EIC as funder & investor of choice for visionary ideasü Targeting deep-tech, interdisciplinarity, high risk to achieve high impactü Simple, fast applications focusing on the innovatorü High classmentoring and advice, as well as funding
EICAdvisoryBoardvisionstatement(27April2020)
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With the European Research Council• Joint working group between ERC Scientific Council and EIC Board• EIC as innovation equivalent of ERC• EIC as follow up support for ERC proof of concepts
With the European Institute of Innovation and Technology (EIT)• Memorandum of Understanding signed between EIT Governing Board and EIC Board• Letter of Intent signed between EIC and first wave of EIT KICs• Pilot actions for EIT KICs to test out collaboration mechanisms (supporting startups to access EIC
funding, Shared access to networks and services, Co-investments in startups)
With the Structural Funds• Improved “Seal of Excellence”: exempt from State Aid, direct award of Structural Fund support,
sharing of information on applicants (with consent)
BuildingKeyPartnershipsfortheEIC
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RELEVANCEFOREUROPEANRESEARCHINFRASTRUCTURE
CONSORTIA(ERICs)?
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ü ResearchInfrastructuresandTechnologyInfrastructuresareacrucialcomponentofinnovationeco-systems,providinguniqueservicesandscientificinstruments
ü ThebasicsciencediscoveriesmadebyRIcommunitieshaveledtomajorindustrialbreakthroughsandsocialtransformation
ü Theimmediateapplicationsofstate-of-the-artRIresearchinareaslikesensors,superconductivityorsupercomputermodelingwillberequiredtoacceleratethepaceofchangeandadapttonewrealities
ü Thepotentialofmorefundamentalresearchinareaslikephysics,astronomyandenergy(ITER)cannotbeignored
ü “Deeptech”natureofResearchInfrastructuresandTechnologyInfrastructuresparticularlyrelevantfortheEIC
Somebasicprinciples
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ü ATTRACT,aconsortiumofsixEIROforum infrastructures,ledbyCERN,setuptoexploretheinnovationpotentialofRIs bylaunchingtheirowncallforproposalsfordisruptiveinnovationindetectionandimagingtechnologies
ü Aneffectivemechanismtodetectandscaleupdeeptech?
ü €20millionbudgetprovidedbytheHorizon2020researchinfrastructures(RIs)programme
ü 170ideaswereselected,eachonebeinggranted€100,000.Projectsareongoing.
ü Afollow-upcalllaunchedin2020toscaleupthemostpromising5-7ideas
ü ProvidecontinuingsupporttoATTRACTorextendthemodeltootherdeeptechecosystemsunderEuropeanInnovationEcosystems?
TheATTRACTexperience
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Why?
ü InvolvementofRIs andTIs alreadyinEICPilot(especiallyinFET/pilotPathfinder)
ü EICwillbemajorpartofHorizonEurope(InnovationequivalentofERC,alongsideinnovationecosytems andEIT)
ü EIC focuson“deeptech”especiallyrelevantformanyERICs
ü TogetherwithEIC inthefieldofdisruptiveinnovation,ERICs tohelpcoverthecontinuumofneedsfromfundamentalknowledgecreationtotechnologydeployment
ü TogetherwithEIC,ERICs tosupporttheimplementationofEuropeantechnologyleadership
How?
ü FindwayssothatEICsupportedcompanies/projectscanaccessinnovationinfrastructures(testingfacilities,etc.)
ü ERICsaspartnersinEICPathfindertogeneratenewresults
ü ERICsteamstouseEICTransitiontoturnresultsintospin-outs/commercialopportunities
ü ERICsspin-outsasapplicantstoEICAcceleratorfordevelopmentandscaleup
ü RoleofEICProgrammeManagerstointeractwithRIswithintheirthematicportfolios
AnimportantroletoplayforResearchInfrastructures,inparticularERICs,insynergywiththeEIC (fordiscussion)
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