Newsletter of the competitiveness clusters – November 2012 1 / 10

November 2012

Collaborative R&D projects (FUI) > What is a good project eligible for the single interministerial fund (FUI)?

Collaborative R&D projects (FUI) > The 77 R&D projects in the 14th call for projects under the single

interministerial fund

Horizon 2020 > The Competitiveness Council has come to an agreement on the financing model for R&D and innovation projects

Publication > The November 2012 edition of the monitoring bulletin for State aid available to competitiveness clusters

Engineering / Services > Credinext: A more objective valuation of certain financial products

International inter-cluster partnership > Launch of the “Textile 2020” European project, towards a European textile “super-cluster”

Training > The 1st

Training forum in the fields of plant chemistry and industrial biotechnologies

Newsletter of the competitiveness clusters – November 2012 2 / 10

COLLABORATIVE R&D PROJECTS (FUI)

What is a good project eligible for the single interministerial fund (FUI)?

How to encourage more economic effects from short and medium-term projects? What priorities for each of the

participants: companies, competitiveness clusters and public authorities?

The specifications of the calls for projects for the single interministerial fund (FUI) have recently changed. While its objectives remain to create value through R&D, various criteria have been clarified for any future projects:

The importance of indicating the economic effects expected from projects in the short and medium terms;

The ability of the companies, particularly SMEs, to perform R&D works;

The interest value of properly positioning the project within the company’s overall development strategy;

The major role of the competitiveness clusters in supporting the innovative SMEs that are partners in collaborative projects, in the follow-up of the performance of these projects and in the valuation of all of their effects, notably economic.

These adjusted criteria will take effect as of the 15th

call for projects.

COLLABORATIVE R&D PROJECTS (FUI)

The 77 R&D projects in the 14th call for projects under the single interministerial

fund

The 77 projects in this call for projects involve 23 regions. They are highly collaborative, with considerable involvement

from SMEs and mid-cap companies. They involve a variety of fields, as the FUI encourages. Demonstration, figures in

support.

55 involved competitiveness clusters

23 involved regions

The amounts of the investments and aid

State aid of €61 million and a €54 million co-financing intention from the regional authorities.

An average investment basis of €4 million for the selected projects, for expected aid amount of €1.5 million. Amongst these projects, 3 requested aid of less than €750,000, while three others represented an expenditure amount that was twice as high as the average.

Newsletter of the competitiveness clusters – November 2012 3 / 10

Primarily technological projects

100% of the submitted and therefore selected projects focus on technological innovations, even though the FUI is open to any type of project.

Highly collaborative efforts

The projects include an average of 7 partners, including 2/3 companies, while the specifications called for a minimum consortium of 3 partners.

Strong involvement of SMEs and mid-cap companies

49% of the SMEs are at the helm of a submitted project. This rate increases to 61% if we consider both SMEs and mid-cap companies.

Mid-cap companies

Major groups

Laboratory/Research

Small- and medium-sized businesses

Submitted project Submitted project Selected project Selected project Partners leaders partners leaders Total = 1040 Total = 154 Total = 519 Total = 77

La répartition des partenaires (FUI 14)

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Partenaires des

projets déposés

Total = 1040

Chefs de file des

projets déposés

Total = 154

Partenaires des

projets sélectionnés

Total = 519

Chefs de file des

projets sélectionnés

Total = 77

ETI

Grands groupes

Labo/recherche

PME

Newsletter of the competitiveness clusters – November 2012 4 / 10

The selected fields

The selected projects (1) are in a great variety of fields, as encouraged by the FUI: information and communication technologies (ICT) for 35 submitted files, health (20 submitted files), energy (12 submitted files) as well as materials (12 submitted files).

Distribution of the fields of the submitted and selected projects (FUI 14)

Mechanics

Chemistry

Consumer goods

Building and civil engineering

Food-processing

Electronics

Safety, risk, environment

Transport

Materials

Energy

Health

Information and communication technologies

Submitted projects Selected projects Total indicated fields = 102 Total indicated fields = 45

1Please note that these data are not complete. Of 154 submitted projects, only 102 indicated their fields.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Projets déposés

Total thématiques renseignées = 102

Projets sélectionnés

Total thématiques renseignées = 45

Mécanique

Chimie

Biens de consommation

BTP

Agro-alimentaire

Electronique

Sécurité, risques, environnement

Transports

Matériaux

Energie

Santé

TIC

Newsletter of the competitiveness clusters – November 2012 5 / 10

HORIZON 2020

The Competitiveness Council has come to an agreement on the financing model for

R&D and innovation projects

Meeting in Luxembourg on 10 October 2012, the European research ministers came to an agreement on abandoning

the “complete cost” option in effect under the 7th RTDFP.

During a discussion initiated by the Cypriot presidency, the Competitiveness Council ratified a “partial general approach” relative to the rules for participating in the R&D Horizon 2020 framework programme. The European research ministers came to an agreement on abandoning the “complete cost” option in effect under the 7

th RTDFP. The Competitiveness Council

further approved a reimbursement of the indirect project costs, on the basis of 25% of the eligible direct costs, which is 5% more than what was included in the Commission’s proposal. During the discussion, an agreement was reached for certain expenses related to major research infrastructures to be included in the calculation of the direct costs, when the participant is a non-profit organisation.

The Council also approved the introduction of a distinction in the financing provisions for activities that the

Commission refers to as “near-to-market” and that it proposes to fund in the amount of 70% of the eligible direct costs.

The Council decided that projects led by public entities or non-profit organisations would benefit from the same funding rate of 100% for research projects and near-to-market projects. For the latter projects, companies will be eligible for an aid rate of 70%.

After a proposal from France that wished to facilitate the participation of competitiveness clusters in European

projects, the Council decided to allow participants to use a guarantee from another legal entity whose financial

capacity will be verified in compliance with the applicable rules.

The Commission proposed a midterm assessment “on the impact of the new funding approaches in order to avoid

possible undesirable effects relative to the programme’s attractiveness”.

These participation rules will next be considered by MEPs. On 28 November 2012, in the Industry, Research and

Energy Committee, they will be examining the report on the participation rules by German Member Mr. Christian

Ehler, the conclusions of which are far from the approach ratified by the Council, notably with regard to the issue of

complete costs. After the Commission’s vote, the Parliament must then adopt the text. A dialogue will then follow

between the Parliament, the Council and the European Commission, most likely in early 2013.

The other decisive factor for Horizon 2020 is the adoption of the multi-year financial framework for 2014-2020. Its

amount will determine the envelope reserved for the RTDFP, that the European Commission proposes to raise to €88

billion. Currently being negotiated, it will be discussed during the extraordinary budget summit in Brussels on 22 and

23 November 2012.

The Horizon 2020 programme

Newsletter of the competitiveness clusters – November 2012 6 / 10

PUBLICATION

The November 2012 edition of the monitoring bulletin for State aid available to

competitiveness clusters

In the news this month: the European Commission has authorised the innovation aid scheme in the naval construction sector, submitted by France on 17 July 2012. This new scheme takes into consideration the modifications resulting from the supervision adopted by the European Commission in 2011. This involves aid for naval construction. With a total budget of €56 million, the scheme will be in effect until 31 December 2013.

The monitoring for November 2012

The monitoring results since January 2011

+61%

Amongst the leaders of R&D projects submitted within the framework of the 14

th FUI call for projects, 61% are SMEs and mid-cap companies.

Newsletter of the competitiveness clusters – November 2012 7 / 10

ENGINEERING / SERVICES

Credinext: A more objective valuation of certain financial products

Benefiting from the latest innovations in terms of mathematical models applied to finance, allowing investors in

derivative financial products (*) to access valuation tools similar to the ones used in a trading room, reducing financial

risks while providing for a more objective valuation.

The Finance Innovation competitiveness cluster approved the Credinext

project that then received a subsidy as part of the 5th call for projects

under the single interministerial fund (FUI).

The context

A derivative financial product (*) is a financial instrument for which the value fluctuates on the basis of the evolution of the rate or price of one or more products referred to as underlyings, listed on one or more bourses. This is a contract between two parties that establishes future financial flows on the basis of a real or theoretical underlying asset, that is generally financial.

Transactions involving these products have seen a sharp increase since the early 1980s. They now represent the bulk of the activity of financial markets. Intended to provide for better management of existing risks, derivative products in reality generate new risks linked to strategies that are themselves increasingly risky, due to a lack of information similar to what trading rooms can access.

A better valuation of derivative financial products

The Credinext project intended to provide a response to the need for a better understanding of the valuation and risk of derivative financial products. It targeted access to similar information as would be available to a trading room, in order to provide greater accuracy in the calculation of the valuation and its future evolution.

The R&D efforts involved modelling the possible evolution of market prices and financial markets. The intent of these efforts was to design new mathematical valuation methods and models using the latest advances in the domain of probabilities and digital calculation applied to finance.

The targeted industrial outlets included:

The design of a software program, Price-it Online, an Internet platform populated by daily market data that automatically provides independent valuations of derivative financial products.

Copyright : PricingPartners

Newsletter of the competitiveness clusters – November 2012 8 / 10

The integration of these mathematical valuation models, developed by PricingPartners, into the Kondor+ software program from Mysis in order to access worldwide distribution.

The project’s partners

The project initiator is PricingPartners (innovative SME created in 2005).

The four applied mathematics laboratories from the ‘Ecole Polytechnique (CMAP), the Ecole nationale des Ponts et Chaussées (CERMICS), the INRIA (EquipeMathfi) and the University of Marne La Vallée developed new mathematical algorithms that take into account recent changes in the financial markets (liquidity, correlation, risk, etc.).

Misys, formed by the merger of Misys and Turaz.

Lunalogic (SME).

Description of the completed works

The project was divided into 3 major topics:

2 algorithmic research topics focusing on the modelling of the underlyings, and of the default non-liquidity and risk phenomena.

1 more applied topic with the development of a software suite of mathematical models, of an independent valuation platform, Price-it Online, and of an advanced scientific modelling module in Kondor+, fromMisys Global Risk.

Initial effects

Results, products, prototypes, demonstrators, services resulting from the R&D works

The project led to the creation of 14 software deliverables in the private domain (PricingPartners or Mysis) and in the open source domain (Premia consortium). These results follow from:

the integration of new algorithms into the Premia open source software program,

the enhancement of the PricingPartners proprietary modelling financial library,

the production of a prototype of the Price-it Online independent valuation platform,

the set-up of a scientific modelling module for financial flows within the Kondor+ software program.

Publications, conferences: 23 publications in international magazines, 42 conferences and seminars.

Theses: 3

Jobs created: 19 jobs created during the project, with 14 continued after its end.

In perspective: the developments on the Price-it Online independent evaluation platform have been actively marketed since 2010, and this activity will represent more than 45% of the company’s sales figure in 2012, with more than 30 customers on the platform.

Newsletter of the competitiveness clusters – November 2012 9 / 10

INTERNATIONAL INTER-CLUSTER PARTNERSHIP

Launch of the “Textile 2020” European project, towards a European textile “super-

cluster”

Eight European competitiveness clusters and textile clusters have come together under the “Textile 2020” common

banner in order to develop new markets and technological partnerships in 5 target countries.

Textile 2020 brings together eight main competitiveness clusters and textile clusters from six European countries.

France is represented by the Techtera and Up-tex competitiveness clusters.

The European Commission is funding this project on the basis of a total budget of €750,000. The project targets the creation of the first European world-class “meta-cluster” in the textiles and advanced materials sector. The objective is to speak on the worldwide stage with a single voice, for greater visibility. The aim is also to allow the members of these eight clusters to develop new markets and commercial and/or technological partnerships. Globally, the partners represent more than 860 companies, research laboratories and technical centres.

Textile 2020 has set out an action calendar (trade fairs, professional trips, workshops) in the five target countries: Japan, South Korea, Canada, Brazil and Tunisia. For its part, the French cluster Techtera will organise a mission to Japan and South Korea.

The project’s eight partners are: NFID (Nord-Pas-de-Calais, France) project leader, AEI (Catalonia, Spain), Clutex (Liberec, Czech Republic), Inntex (Saxony, Germany), NWTexnet (United Kingdom), Po.in.tex (Piedmont, Italy), TCoVR (Valencia, Spain), Techtera (Rhône-Alpes, France) and UP-Tex (Nord-Pas-de-Calais, France).

TRAINING

The 1stTraining forum in the fields of plant chemistry and industrial biotechnologies

This forum provided an opportunity to discuss everyone’s practices, as well as the changing demand in terms of skills

and training.

More than 30 work placement offers, 2 job offers,more than 15 scientific

collaboration projects,many proposals to host apprenticeship contracts, an

industrial partner identified for pedagogical instruction, more than 10 training

approval requests by the Industries agro-ressources (IAR) cluster… These

were the result of the 59 business meetings organised on the occasion of

the 1st“Training forum in the fields of plant chemistry and industrial

biotechnologies” by the IAR cluster, at the University of Reims Champagne-

Ardenne.

Newsletter of the competitiveness clusters – November 2012 10 / 10

For the first time, the IAR cluster brought together training institutions, interface structures and industrialists at the

same time and at the same place, in order to provide them with an opportunity for exchanges with regard to how to

align current and future industrial needs with the existing training tools (initial and continuous training,

apprenticeships…). In all, 117 people attended.

This forum notably proposed: lectures on actions carried out in the regions that have an impact on skills development, a roundtable dealing with territorial policies in favour of the development of skills and training opportunities, get-togethers within an exposure area, as well as business meeting between training institutions and industrial companies.

This event provided an opportunity to discuss everyone’s practices, as well as the changing demand in terms of skills and training.

After this event, the IAR cluster announced that a new edition of this forum would be held in Picardy (France), in 2013.

Guillaume Jolly, Skills & Training Manager, IAR cluster

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Legal mentions

This newsletter is published by the DGCIS and DATAR.

Address: 8, rue de Penthièvre, 75 008 PARIS

Director of publication: M. Patrick Crézé

Editor in chief and copy: Martine Maillard

Editorial committee (in alphabetical order): Delphine Abramowitz, Constance Arnaud, Rémi Arquevaux, Véronique Barry, Ana Dujmovic Blua, Aurélie Faitot, Olivier Hébrard, Caroline Mischler, Fabienne Ragache, Laetitia Tailliez, Sofiène Lourimi and all of the associated competitiveness clusters

Design and production: Stratis

Photos: Stratis, PricingPartners.

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