TESLATransnational Ecosystem Laboratory & Actions

Aim of Project:

Aims to contribute to the creation of a transnational ecosystem supportive of entrepreneurship through leveraging the capacities and capabilities of the transnational partners to design and deliver a suite of supports to assist the growth and development of early stage, technology-based enterprises, with export potential (HPSUs)

Indicative Impacts:

•Accelerated internationalisation of HPSUs•Sector-specific business mentoring by national and international experts so as to drive the

development and expansion of companies into business sectors and markets which are

characterised as fast-growing•Providing exposure to developments in Entrepreneurial Finance, also Legal Negotiation for

Entrepreneurs

TESLA Project Partnership

1. BMW Regional Assembly – Lead Partner (Ireland)

2. Líonra – Regional Higher Education Network in BMW Region (Ireland)

3. Cork Institute of Technology (Ireland)

4. European BIC Network (EBN, Belgium)

5. INI-Novation (Darmstadt, Germany)

6. Tilburg University (Netherlands)

7. Bangor University (Wales)

8. Laval-MayenneTechnopole (France)

Structure of the Project

Ten Project Actions:- Creative Industries - EBN, Bangor, Tilburg- New Product Design & Development – CIT, Bangor, LMT- Mentor Plus – Líonra, EBN, INI-Novation, LMT- Innovation Outreach – Líonra, Bangor, INI-Novation- Internationalisation – CIT, EBN, Líonra, INI-Novation, LMT- Co-Incubation/Softlanding – EBN, INI-Novation, Líonra, CIT, LMT- Spin-ins – CIT, Tilburg, Líonra, LMT, Bangor- Entrepreneurial Finance – Tilburg, CIT, INI-Novation- Transnational Placements – LMT, Líonra, CIT, EBN, Bangor, INI-

Novation- Public Procurement – Bangor, Tilburg

Intended Beneficiaries of the Project

• Potential HPSUs/HPKIEs, that can demonstrate rapid development in recent years.

• Have formulated a viable growth plan for the business with a particular commitment to internationalising the business.

• Enterprises with strategic objectives that can be assisted through TESLA interventions.

Modalities of implementation of Actions

• Call for participating enterprises will be published about two months prior to commencement of the Action.

• Competitive entry criteria will apply based on a written application and a completed Needs Assessment document.

• Enterprises may apply for entry to more than one Action.

Indicative Support for CompaniesSoft-Landing/Co-Incubation

• Assists export-led enterprises in gaining market intelligence and access to export markets in those countries partnering on the TESLA Project.

• Participating enterprises will have the opportunity to be received by a ‘trusted friend’ in another country who will provide the company with key business information such as funding, regulatory frameworks, procurement, Trade Fairs, Exhibitions, etc

Internationalisation

• Conduct Gap Analysis on International Skills needed by the participating HPSU• Services of a Sectoral Internationalisation Expert• Services of country-specific Internationalisation Expert• One to one follow-up by the Experts

Mentor Plus

• Selected enterprises will be assigned mentors with sector specific knowledge and expertise drawn from a composite National/International panel of mentors in order to accelerate the growth & development of the business.

• Enterprises will be assigned a fixed number of mentoring sessions to address

the priority needs of the enterprise as identified through an analysis of the Needs Assessment document completed by each company when applying for entry to the programme.

• Mentoring support will be provided across a range of business topics e.g. Business Planning/Strategy, Finance, Market Research, Sales & Marketing, Internationalising the business, IP and Branding ………..

New Product Design & Development

• Aimed at providing a comprehensive suite of supports on new product design and development

• Conduct Gap Analysis of the New Product Design & Development capabilities within the company

• NP D&D services delivered by an on-site expert• New Product Design & Development process design may

include:

- Prototype development

- Hardware & schematic design

- Software design

- Industrial design

Innovation Outreach Pilot Action

• Targeted at areas with no Third Level physical presence; the initiative will probably localise in Cavan town and serve Monaghan and Longford.

• Knowledge-led enterprise development benefits from close involvement with Higher Education institutions and their associated commercialisation capabilities also through their capacity to drive innovation and competitiveness.

• The Strategic intent is to develop strong innovation and outreach relationships with knowledge intensive companies with the aim of shortening the time to market particularly export markets.

• The Action will provide: Appropriate training and mentoring for selected companies Access to a Business Development Manager to support the enterprises with:

– Developing Business Plans– Conducting Market Research– Developing Sales & Marketing Plans– Procuring Entrepreneurial Finance

Spin-In Programme

• The ‘Spin-In’ initiative is a form of corporate venturing that facilitates larger indigenous companies and MNCs to spin-in new business ventures to Incubation Centres through a support programme that will encourage staff to be more entrepreneurial within their place of work

• The Spin-In approach allows the large parent corporate to concentrate on maintaining market strength while pursuing new products/markets at low risk to the parent corporate’s reputation

• Programme will consist of Workshops for targeted companies followed by intensive supports from a corporate Venturing Expert

Entrepreneurial Finance

• The Entrepreneurial Finance Action will through a series of interactive workshops raise awareness among entrepreneurs/HPSUs and investors of the changes taking place in the venture capital industry with emphasis on particular funding opportunities suitable for start-ups.

• Participating companies will learn how to encourage investors to invest in their particular company also to respond credibly to the needs of the investor(s)

• Topics to be covered include:– Sourcing of finance, crowd funding, angel investors, super-angel investors ,

venture capital funds, corporate investors– Venture capital contracting– Negotiating financing contracts– Case studies of financing start-ups in Europe

Public Procurement Action

• The Public Procurement Action will prepare and assist early-stage companies to compete for Public Procurement contracts for goods, services and solutions.

• Public Procurement procedures are complex to navigate and HPSUs must have access to practical advice and guidance in order to prepare a competitive Public Tender.

• Participating companies will be able to access Workshops which will be led by National and International Public Procurement Experts. The Workshops will be complemented by one-on-one clinics involving the HPSU and the procurement expert.

• A “tender surgeries” program involving transnational procurement experts will provide feedback on draft tenders and will offer advice on how the tender document can be improved in order to enhance prospects for a successful bid.

Creative Industries

• This Action focuses on creative entrepreneurs operating within one of Europe’s most dynamic industry sectors.

• The Action will lead to the creation of a Network which will provide the business supports needed by the Creative Entrepreneurs to expand their small-scale enterprises into HPSUs capable of generating employment within the wider North West Europe area.

• Support to be provided include:– Start-up toolkit– Workshops– Creative industries community support framework

Transnational Placements

• Aimed at promoting temporary placement of Innovation Centre Managers, Tech Transfer Officers, Commercialisation Managers, in accredited Innovation Centres in partner countries.

• This initiative is seen as an important tool in further developing the skills and knowledge of staff through exposure to new areas of expertise, processes and business methods in enterprises and Centres that have developed these capabilities.

TESLA Budget

• Overall Project Budget: €3,832,440• ERDF Co-financed by North West Europe

Interreg IVB Programme at 50% of costs

→ Total Grant €1,916,220• Ireland’s allocation of the : €1,484,216 shared

between BMW Assembly, Líonra and CIT• Delivery Timeframe: May 2012 – May 2015

Project Outcomes

• 612 firms will be engaged in the 10 initiatives

• 55 new products designed and/or developed

• 45 HPKIEs will be established

• 68 support workshops will be hosted

• 850 expert days will be provided to firms