Networking Workshop Financial Instruments

Thank you for your kind invitation to the event. And for your excellent organisation. I really enjoyed the open and friendly atmosphere of our discussions and was happy to learn more about the activities of EIB, Bpifrance, Invega, Czech Ministry of Industry and Trade and others.

Vladimír Bílek, European Commission, speaker

 

Very fruitful discussion based on strong presentations with good content. Very interesting to see that lots of member states are about to implement FI for a stage of technology transfers from research organisations/ Universities. Proof of Concept /Spin-Offs lacking in (financial) support, this gap is identified.

Thanks a lot for hosting us and the great organisation!!!

Stefan Berend, Luxinnovation, participant

 

I liked the event very much because I could share my knowledge and learn from experience of others. The participation of the European Commission and the EIB was highly appreciated. I´ve found out some details which I am going to implement in our country.

Inga Beiliuniene, Invega, speaker

 

Financial Instruments networking workshop was very interesting from our perspective. Discussing the implementation of different variants of financial instruments by different innovation agencies was a good learning experience. It was good to hear about the obstacles and related local solutions during the journey.

Merve Yasaroglu, TTGV, participant

 

Very well organized workshop, very open and with a lot of time to discuss with each other. The participation of the Commission and EIF was very useful to ask and answer questions. Practical work is always very difficult to organize, but whatever is the result, the way to do it is the most important. Thanks a lot for this invitation to participate.

Laure Reinhart, Bpifrance, speaker

 

The workshop was really good and well prepared. I appreciate most the variety and experience of speakers, as well as e-materials – presentations in e-mail.

I hope we will be able to implement some of the best practices (eg Bpifrance). 

Aleš Boček, TA CR external partner


Date & Place: 16 May 2017, Prague

 

Length: 1 day, 09:00 - 16:00 CET

 

Host: Technology Agency of the Czech Republic, Evropská 37, Prague 6

 

Speaker: Vladimir Bilek, European Commission

              Jaroslav Tóth, European Investment Bank

              Martin Švolba and Pavel Laube, Ministry of Trade and Industry, Czech Republic

              Laure Reinhart and Christian Dubarry, experts BpiFrance, Bpifrance

              Inga Beiliuniene, Head of Project Management Division, INVEGA, Lithuania

 


Brief Description

In spite of the growing importance of entrepreneurial activities in creating new ventures and implementing frontier research, innovative SMEs face several barriers for accessing finance, such as asymmetric information and financing gaps between investors and entrepreneurs. They also suffer from resource constraints, insufficient collateral, and lack of a track record. The quality of a business plan, in terms of due diligence, can be a very influential factor in funding decisions.

 

These potential market imperfections justify public intervention in entrepreneurial financing. In addition to establishing framework conditions that foster investment in R&D and innovation, governments use a variety of instruments such as subsidized loans, tax incentives and public support to venture capital. Grants and subsidies are considered especially effective for mitigating financing constraints in young and small R&D-intensive, technology-based SMEs in the early stages of development. Seed funding can help entrepreneurs not only to gain access to finance but also to overcome the “valley of death” , as they have great difficulty obtaining project or debt financing or venture capital for projects that imply higher risks. (Source: OECD)

 

The main topics of expert sessions 2 (Improving Access to venture capital for innovative companies) and 3 (National and European funding for innovation, organized by Bpifrance), demonstrated well the latest development, but it was also evident, that experience of TAFTIE member agencies varies essentially. For some agencies, using the financial instruments faces legal or technical problems. As our preliminary analysis of interest shows, it seems that an exchange of information with agencies using other forms of financing that grants might be much appreciated.