lowendalmasaï - funding innovation

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Lowendalmasa is an international management consulting company which helps enterprisesto improve their business through cost management efficiency that enhance their long term performance and finances their growth, while protecting human capital. We had a wide presence in Europe, with own offices in France, Italy, Spain, Portugal, UK, Germany and the Netherlands, and outside Europe in China and Japan. In Italy the Group offer is structured along the business lines: Innovation Financing, Labour Cost, Fiscal, Purchasing & Cost Performance and Working Capital. Furthermore we developed a widespread network which allows us to support our clients in most European countries plus USA, Tunisia, Israel, Turkey and India. On R&D advisory we are able to support our client France, Italy, Spain, UK, Germany, Netherland, Belgium, Turkey, Ireland, Poland, Serbia, Israel, Tunisia, India, China, Brazil. Lowendalmasa has 20 years of experience in consultancy and operates in R&D advisory since more than 11 years during which has gained experience in preparation submission and management of international and EU funding programs (including consortium definition), tax reliefs, patent box schemes. For info: gmele@lowendalmasai.com M. +39 348 6657917


  • 1. R&D Advisory A global approach to boost innovation Via A. da Recanate 1, 20124 Milano Tel. +39 02 80583223 Fax. +39 02 80583227 www.lowendalmasai.com
  • 2. Lowendalmasa - Copyright 2014 - 2 R&D Advisory Some opportunities Agenda Lowendalmasa at a glance
  • 3. We support our Clients at local and global level providing innovative solutions which lead to measurable and sustainable results Lowendalmasa - Copyright 2014 - 3 Amsterdam Paris So Paulo Mumbai Sydney Hanoi Shanghai Tokyo Astana Moscow Istanbul Tel Aviv Copenhagen Dsseldorf Prague Tunisi Izmir Consulting Office Sourcing Office Strategic Partner London Madrid Milan Rome Barcelona Lisbon Bratislava Oslo Geneva Thessaloniki 400 EMPLOYEES IN THE WORLD 2,500 ACTIVE CLIENTS FROM ALL BUSINESS SECTORS 20 YEARS OF EXPERIENCE Corporate Profile Enterprise Cost Management: we aim at reducing enterprise costs generating cash and lightening tax burden, without resorting to cuts or human capital reductions
  • 4. Our areas of expertise are characterized by an efficient combination of strategy and pragmatism Enterprise Cost Management Lowendalmasa - Copyright 2014 - 4
  • 5. Lowendalmasa remuneration model (fixed and variable fees) is orientated to success and based on tangible and measurable results Lowendalmasa garantees: Results Tangible and measurable results Partnership Operational support Coaching during implementation Doers, not sayers Lowendalmasa - Copyright 2014 - 5 Results % Lowendalmasa Variable Fee Lowendalmasai key assets Lowendalmasa key success factors Know How Successful methodology Cost optimization specialization Business sector expertise Collaboration with the Client Culture based on listening Relationship with operational contact people Lowendalmasa success fee is based on reached and validated results We always align our objectives with the clients Lowendalmasa aims at providing effective and durable results, as we base our success on the clients satisfaction
  • 6. We are proud of our prestigious Client portfolio, which includes both international groups and middle-sized dynamic companies Lowendalmasa - Copyright 2014 - 6 Transport Logistics & Services Automotive & Aerospace Banking Finance Insurance Energy and Oil & Gas Chemical-Pharma & Healthcare Food Beverage & HoReCa Retail Distribution and Consumer Goods Luxury & Fashion IT Electronics & Appliances Industry & Construction Advertising, Publishing & Services Our Clients
  • 7. Agenda Lowendalmasa - Copyright 2014 - 7 Lowendalmasa at a glance R&D Advisory Some opportunities
  • 8. Introduction on R&D tax reliefs and funding Tax reliefs and funding represent two aspect of a strategy to boost R&D and Innovation at international, country and local level Tax Relief Funding Lowendalmasa - Copyright 2014 - 8 Tax reliefs have been introduced since the 80s There are two main forms of tax incentives : Tax credit Either as a volume amount (x% of qualified expenditures) Or as an incremental amount (x% of expenditures above a base level, usually based on the expenditures of the 2 or 3 preceding years) Superdeduction R&D expenditures are multiplied by a coefficient before being subtracted to the operational result resulting in lower corporare taxation (superdeduction x tax rate = volume amount of R&D tax credit) Most countries have a definition of eligible project that are similar to the definition of the Frascati Manual Funding is a set of instruments to boost innovation and competitiveness overcoming potential market failures Such instruments exist worldwide at different levels: international, national, local Amounts and requirements depend on specific regulations mostly related to the achievement of technological targets There are two main forms of funding: Direct Funding: the contribution is a percentage of the project total budget and there is no obligation to return Credit Facility: The contribution has the form of a credit up to 100% of the total budget with no or facilitated interest rate
  • 9. Lowendalmasa - Copyright 2014 - 9 Solution above the existing state-of-the-art for products, processes and services Significant improvement between before and after the project Solution not obvious for someone having a good professional knowledge of the industry Risk of failure Education of R&D personnel (engineers, PhDs) Knowledge management Tests, experiments, trials, iterations INNOVATION TECHNICAL DIFFICULTIES SCIENTIFIC METHODOLOGY Eligible expenses R&D: a common definition Even though rules can be different, the R&D definition from Frascati Manual is accepted worldwide
  • 10. Our approach Thanks to its glocal approach Lowendalmasa is able to maximize the benefit emerging from international synergies and ensuring effectiveness at local level Get the chance to exploit hidden opportunities if observed at country level Lowendalmasa - Copyright 2014 - 10 One single team for a global world Anticipate issues instead of trying to solve them See funding and facilitations from a strategic point of view
  • 11. The added value Lowendalmasa - Copyright 2014 - 11 which means widening the innovation effort and reducing its cost Example Business Plan 2014 Scenario 1: as is A B C 2M 0,8M 0,7M 4 projects proposed The budget allows only the project A to be financed The others cannot be run D 0,5M Scenario 2: results Also project B can be run Result: one step beyond expectations! A B C 2M 0,8M 0,7M D 0,5M Identification of opportunities An EU funded programme gives the opportunity to rise up the 70% of project A 400k can be now allocated on Project B Through a tax relief is possible to get a 50% refund of project B A B C 1,5M D 2M 0,8M 0,5M
  • 12. Phase 4 Implementation Dossiers preparation and submission Lowendalmasa - Copyright 2014 - 12 Data Collection Interviews Understanding of the development strategy Kick-off Meeting Phase 1 Data collection Check-up of opportunities Overview of technical implications Feasibility study As Is Photography Phase 2 Assessment Phase 3 To be proposals Creation of possible scenarios Funding quantification Potential funds Follow-up and reporting Caring of institutional relations Support in creating partnership Methodology To properly meet clients needs Lowendalmasa developed a comprehensive methodology starting with a strategic overview Sworn certification of R&D expenses
  • 13. Agenda Lowendalmasa - Copyright 2014 - 13 Lowendalmasa at a glance R&D Advisory Some opportunities
  • 14. Lowendalmasa - Copyright 2014 - 14 R&D Tax Credit Tax Credit 50% of the increase in annual R&D expenses Total budget 600.000.000 Duration 2014 2015 2016 Up to 2.500.000 /year The credit can generate up to 7,500,000 of savings annual expenditure increase Potential benefits 2013 2014 2015 2016 = investment level = potential benefit Eligible activities Development of new products, processes and services or improvement of existing ones Base research Industrial research Experimental development Eligible expenses Labour cost Machineries Research in cooperation with Universities and Reasearch Centers Contractual research Acquired or licensed know-how and patents Italian R&D Tax Credit: some details The brand new enforced R&D Tax Credit is an incremental one with a potential benefit of 2,5m per year
  • 15. IRAP: R&D personnel cost deducton Thanks to a correct classification of R&D costs it can be possible to get a tax deduction related to the cost of employe