investor readiness in the western balkans: challenges ... · 2 contract research financial...
TRANSCRIPT
Page 1
Andrea Basso
EU4TECH, MITO
Eva Baltar
JRC, European Commission
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Investor Readiness in the Western
Balkans: challenges, opportunities
and practical experiences.
Page 2
What is investor Readiness
► Minimal Viable Product (MVP)
► Strong competitive advantage
► Commercial traction
► Big and growing market
► Validated business model
► Credible and experienced team
► Able to properly present the
business idea
► Wiliness to accept investment in
exchange of equity
Characteristics that an investee should have to become an appropriate
funding opportunity (Gregory et al., 2012).
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 3
Opportunities - investments in WB
► The long-term EU perspective
► Strong macroeconomic stability
► Strategic geographic location
► Diverse economies
► Favorable tax regimes
► Low unit labor costs
► Well-educated population.
This project is funded by the European Union and implemented by
EY / inno/ T3I Ltd / MITO consortium
https://www.ebrd.com/news/2016/how-the-western-balkans-can-catch-up.html
Page 4
Innovation types
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 5
Challenges in Investor Readiness in the WB
► Equity aversion: potential advantages of
equity as funding and investor knowledge.
Equity finance is only marginally used in the
region
► Fundability: capability to demonstrate a viable revenue model, market traction, IPR issues, have a competitive strategy, etc.
► Presentation skills: effectively pitch their business ideas
► Networking: matching between entrepreneurs and investors.
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 6
Investors or Entrepreneur fault?
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Lack of
supply of
equity
finance
Lack of
readiness of
entrepreneurs
to attract
financing
Page 7
Boosting Investor Readiness
► Capacity building
► practical training programs
► Mentoring and coaching
► Institutional commitment
► government bodies, public organizations, universities and research centers
► Coach Investors
► on the peculiarities of technology-based projects to support better informed decision making,
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 8
Overview of EU4TECH
► Key objective: “to support and strengthen the technology transfer and innovation ecosystem in the countries of the Western Balkans”
► Coverage: Albania, Bosnia and Herzegovina, Kosovo*, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia
► Duration: January 2017 – December 2019
► Contacting authority: DG NEAR with technical support from JRC
► Consortium: EY (lead), Inno, T3I, MITO Technology
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 9
People on the ground
KE1/TL
• Dr. Julia Djarova (Key Expert 1: Team Leader)
• Mobile: +31 6 2908 4883
• Email: [email protected]
KE2
• Dr Lisa Cowey (Key Expert 2 Technology Transfer Expert)
• Mobile: SR: +381 61 6468 181
• Email: [email protected]
• Skype: lisacowey oxford UK
• Dr. Andrea Basso (Early Stage Investment Expert)
• Email: [email protected]
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 10
Overview of the project components
Inception/ Capacity
Building Strategy 0
Tech Transfer Training 1
Contract Research 2
Financial Instruments
policy platform 4
Investor readiness
training and
matchmaking 5
S&T Parks and
Incubators 3
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
► Technology Transfer Offices of Universities and Public Research Organisations/ HEIs
► High technology SMEs ► Science Parks ► Incubators ► Ministries responsible for research and innovation policies ► Local and international financial intermediaries such as business
angels, venture capital firms and the private equity sector
Target Groups
Page 11
The EU4TECH IR program
• holistic and lean approach focused on • Fundability
• Presentation skills
• Networking
• three specific tools: • business model canvas review (mainly for early stage and running
operations teams),
• the development or refinement of an investor pitch,
• development of an investor proposal. early stage, initial revenue generation startups, and a more articulated one for startups/SMEs in the scaling up phase.
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 12
Investment Readiness (Start-ups/ spinoffs) 5
125 35 100+
BEG
Investor mem. WS
PRN
BEG
Crowdfunding WS
Pitch WS BEG
Investor Forum
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 13
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 14
Stage of company
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 15 This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 16 This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 17
Andrea Basso
EU4TECH, MITO
Eva Baltar
JRC, European Commission
THANKS!
This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Page 18 This project is funded by the European Union and implemented by
EY / inno / T3I Ltd / MITO consortium
Contract Research
15 PROs
strategic plan/ road map for each
group.
instruments to accelerate and support
industry-academia collaborations
Technology transfer
For targets groups linked to the 15 PROs
2 Summer Schools on TT
Researchers
Individuals offering Tech Transfer
support
Mentoring support to CTTs (or similar)
1 support activity per country
S&T Parks and incubators
International and regional networking
Workshops/ meetings/ conferences
Regional level focus
Possible capacity building for PoC
activity
Policy Platform
Design of new regional level
instruments to support TT and
increased TRL.
Proof of concept
Seed funding
‘Blended’ instruments 3
2
4
1