program vencro ante mamić business innovation center of croatia - bicro
TRANSCRIPT
Program VENCROProgram VENCROAnte MamićAnte Mamić
Business Innovation Center of Croatia - BICROBusiness Innovation Center of Croatia - BICRO
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
ContentContentss
Sources of Capital Risk Capital Business Innovation Center of Croatia –
BICRO BICRO-a Programs VENCRO Program Conclusion
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
Sources of Sources of CapitalCapital
Public Offering Private Placements Joint Venture Risk Capital Strategic Alliance Merger
Acquisitions Franchising Licensing Loans Grants Bonds
for young innovative companies
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
Risk CapitalRisk Capital
equity and quasi equity financing to companies during their early-growth stages
includes: business angels venture capital alternative stock markets specialized in SMEs
including high growth companies
- informal investments
• Copernicus Capital - 30M $
• Seaf Croatia - 8,2M $
• Horizonte Venture Management - 20M €
• Quaestus Private Equity Partneri - 35M €
• HBOR - 8,22M €
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
Seed-stage
Early-stageExpansion / Development Capital
Venture Capital
Venture CapitalVenture Capital
Tech Transfer / Incubators
Business Angels / Pre-Seed
Mid-stage
Later-stage BUY-OUT
Stock Exchange, Public Equity
Risk Capital
Private Equity
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
VC investicijaVC investicija
Commercial bank
Loan
Venture Capital Fund
Company
EXIT
1.IPO
2.M&A
3.MBO
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
ExamplesExamplesWhat is BICRO doing?
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
BICRO BICRO LtdLtd..
Vision
Mission
BICRO is the key organization within the national BICRO is the key organization within the national innovation system whose basic role is development and innovation system whose basic role is development and implementation of government support programs aimed implementation of government support programs aimed at strengthening technology development as the main at strengthening technology development as the main generator of sustainable economic growthgenerator of sustainable economic growth
Successful and efficient support to technological Successful and efficient support to technological development and commercial use of research outputs development and commercial use of research outputs by creating financial, material and other conditions for by creating financial, material and other conditions for existing and newly established companies in order to existing and newly established companies in order to increase their competitiveness or facilitate introduction increase their competitiveness or facilitate introduction of new products or services to the market.of new products or services to the market.
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
ProgramsPrograms
Demand for Venture Capital
Supply of Venture Capital
Demand for Venture Capital
RAZUMthe program ensures initial funding of newly established knowledge-based companies and research and development of new products and services in existing companies
TEHCROthe program supports development of technology infrastructure
VENCROthe program supports establishment of venture capital funds
IRCROthe program stimulates cooperation between the industry and various research institutions
KONCROthe program ensures easier access to technological know-how and management skills
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
Program VENCROProgram VENCRO
using BICRO Government of Croatia will invest 4,5 M€ in one venture capital fund
the fund will be managed by a private sector management company selected through a public call for proposals (NN 13/07)
the goal is to raise at least 10,5 M€ from institutional investors achieving a minimum acceptable size of 15 M€
30% of the fund is reserved for investments in the technology sector
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
ConclusionConclusion
At a time when developing countries are increasingly losing manufacturing jobs to low wage countries, and when low wage countries seek industries that depend on more than just cheap labor, creating a venture capital market has become the holy grail of economic development.
Ronald J. Gilson (2002)
21.06.2007Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split
Thank youThank you
Business Innovation Center of Croatia - BICRO
[email protected] [email protected]
[email protected] [email protected]
www.bicro.hr