ASTP-Proton Annual Conference May EIF s role in Technology Transfer. 15 May 2014 (ASTP - Oslo) Dr. Piyush Unalkat

Transcription

1 EIF s role in Technology Transfer 15 May 2014 (ASTP - Oslo) Dr. Piyush Unalkat 1 What is the EIF? The leading developer of risk financing for entrepreneurship and innovation across the EU Helping SMEs, microenterprises and European regions innovate and grow by making finance more accessible Fulfilling our dual goal and pursuing EU policy objectives as well as financial sustainability Addressing market needs by acting as a countercyclical investor in tough economic times Working with financial intermediaries across the 27 EU countries, EFTA and all Accession countries 2 1

2 EIF Current Investment Focus Strategic Challenges EIF resources EIF manages resources from different stakeholders European Investment Bank Risk Capital Mandate (RCM) EUR 5bn Mezzanine Facility for Growth (MFG) EUR 1bn European Commission Competitiveness and Innovation Framework Progr. (CIP) EUR 1bn allocated to equity and guarantees Risk-Sharing Instrument (RSI) EUR 120m Progress Microfinance EUR 200m National & Regional Funds 20 European and regional Funds-of-Funds including Germany, Portugal, Spain, Turkey, UK 14 Holding Funds supported by structural funds EUR 1.3bn 3 Involved throughout the business cycle Technology Transfer Accelerator Investing in VC funds Investing in Growth Capital Mezzanine Technology Transfer Proof of Concept Business Angels Seed Stage Early Stage Business Angels Expansion/ Development Capital Lower Mid-Market Instruments to stimulate innovation, competitiveness and cross-border investment Fill funding gap left by institutional investors Support VC ecosystem and decrease dependency on public finance Catalyse hybrid debt finance for growth European Commission Resources EIB / EIF Resources Member States / Private Sector Resources 4 2

3 Equity Highlights Equity signatures PE assets under mngt (EUR / m) 5 Bridging the gap between research and the market R&D Technology Transfer technology IP Marketable Product prototype IP University / Research Organisation Spin-out Licensing Market IP / Idea Collaboration (contract research) 6 3

4 Catalysing commercialisation Research organisations and their TTOs can seize opportunities to increase and catalyse their competitiveness for innovation Engage with industry, develop partnerships, and encourage contract research Build networks to meet economic reality; inward looking vs. outward Become active participants in longterm TT vehicles / funds Research organisations to provide commitments for participating in TT structures, financially and / or with other resources Outsource with qualified and experienced partners willing to work in close collaboration Identify and work with trusted (fund) managers who can help select the best opportunities with commercialisation potential 7 Long-term, sustainable vehicles with like-minded investors Close collaboration of investment vehicle with TTO Access to good science IP adequately protected under relevant legislation No direct financing of research Governance - no investor involvement in investment decisions Independence and non-competition of management team Adequate incentives to management team Alignment of interests with long-term focus, up to 15-20yrs Min critical size ca. EUR 20-30m. EIF can fund up to 50% 8 4

5 EIF Technology Transfer Investments Vintage Year Investment Country Fund Size (EUR m) EIF investment (EUR m) % Fund T-Source France % Louvain Vives I Belgium % Leuven CD3 (Centre for Drug design and Discovery) Belgium % IP Venture Fund UK % Chalmers Innovation Seed Fund Sweden % Manchester UMIP Premier Fund UK % Karolinska Development Sweden % * Strata/Mes Lithuania % Leuven CD3 II (Centre for Drug design and Discovery) Belgium % * Imprimatur Latvia % Louvain Vives II Belgium % Telecom Technologies Transfert (3T) France % Nauseca Belgium % * Practica Lithuania % * Eleven Bulgaria % * Lauchub Bulgaria % * Openfund Greece % * Piraeus Greece % Demeter Cleantech seed fund France % Elaia Alpha fund France % Cancer Research Tech (CRT) Pioneer Fund UK % Rockspring UK % INRIA IT Translation France % IP Venture Fund II UK % Grand Ouest d'amorcage Sante France % Auriga Bioseeds IV France % SINTEF Venture IV Norway % "TT Fund" (confidential) in progress EU % "TT Fund" (confidential) in progress EU % "TT Fund" (confidential) in progress EU % "TT Fund" (confidential) in progress EU % "TT Fund" (confidential) in progress EU % "TT Fund" (confidential) in progress EU % TOTAL (27 funds) % * Blue denotes Business Incubation / Acceleration Funds (% excl. incubation) 9 Contact EIF Dr. Piyush Unalkat 15 avenue J.F. Kennedy L-2968 Luxembourg T :(+352) F :(+352)