technology incubator program ’s draft model

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Technology Incubator Program ’s draft model. Valdis Avotins, LIDA. Aims of the presentation. To present draft model of the program Receive feedback/ comments to the model Discuss linkage with pre-seed and seed scheme. Technology Incubator Scheme. Why? Goals Selection criteria - PowerPoint PPT Presentation

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  • Technology Incubator Programs draft model Valdis Avotins, LIDA

  • Aims of the presentationTo present draft model of the programReceive feedback/ comments to the modelDiscuss linkage with pre-seed and seed scheme

  • Technology Incubator SchemeWhy?GoalsSelection criteriaFinancingDecision mechanismSupporting measures

  • GoalsStimulate development of new technology intensive SMEs by supporting innovative entrepreneurs in the early stages of technological entrepreneurshipStimulate export of technology intensive productsMotivate scientists and engineers that once left Latvia to establish business in LatviaFacilitate attraction of VCF investments in R&D / technology intensive NSMEsIt is not regional instrument

  • It is necessary becauseThe lowest amount of SMEs (18 per 1000 inhabitants) among the EU candidate countries Mental and psychological barriers to establish first companyNo sufficient support / guidance available to inventorsFew R&D intensive projects among NSMEsNo real success in existing few incubators

  • Target groupsEngineers and designers from private sector (industry) Academy (scientists, PhD students, engineers from universities) High-level scientists and specialists that have left Latvia, including engineers abroad

  • Selection Criteria for New SMEs Evaluation done by private TI operator:Knowledge intensive SMEs (R&D investment exceeds 3% from annual turnover) Explicit orientation towards global market (export) Market potentialManagement capabilityAcceptable time scaleIPR transferred to NSMEs (signed commitment letter)

  • SMEs liabilitiesThe SME has a liability to repay the received grant as regular payments from salesIt is done by paying ~3% of yearly revenues till the 100% of the received grant is repayed These revenues government re-circulates within TI support program.

  • TI services to SMEsbasic infrastructure basic (management, marketing, strategy) services specialized technology services Provision of financing for new SMEs IPR services

  • Grant model to private TI operatorapproved TI activity business plan This grant is given max for 3 years. It can be used only for ensuring TI activities and not for investing in new SME Up to 75% of operations costs = 25% private financing requiredNext project 3Y period grant reduced (e.g. 65%)Maximal grant for one TI is 350 000 EUR per year

  • Selection criteria for TI applicantsEvaluated by SAP Commission:TI business plan (deal flow)TI management experience Experience of TI manager / team Amount of offered financing for TI operationAbility to invest 20% in NSMEsAvailability of infrastructure

  • Eligible costsManagement costsbasic (general) services and consultationsspecialized technological services and consultationsfinance management consultationstraining of employeesmarketing expensesIPR protection costs

  • Split of sharesRegistrationauthor of technology idea (inventor) not less than 50%;TI operator 20%;Management, employees, mentors up to 10%;After registrationRised capital during next 24 monthTI is allowed to investNegotiations with strategic partner ongoing

  • Performance evaluation1. For TI operation:number of approved projectsnumber of created new SMEsamount of services providedexport volumenumber of created working placesnumber of stable SMEs in the long runvolume of attracted capital2. For new SME operation:number of created new SMEsexport volumeamount of taxes paid to the governmentnumber of created working placesincrease in the volume of realization

  • Supporting measuresEntrepreneurship motivation schemeAwareness creation programDissemination of success stories / best practices

  • VENTURE CUP W-Sweden

  • EMP scheme

    Business idea

    Coaching

    Business plan

    Company

    30. 09.2 pages

    PR campaignApplicationsEvaluation and competitionDivision of participants

    15.10.-31.03.

    Entrepreneurship courseCompetition of marketing plans,Self-teaching, seminars, mentors

    31.05.30 pages

    MentorsNew entrantsCompetitionIndividual feedbackPrizes as starting capital

    ContactsBusiness labsConsultations

  • EMP scheme

    Mentors

    Businessidea

    Business plan competition

    Division of participants

    High quality business plans to start a new company

    Business idea competition

    Marketing plan competition

    Incubators, business labs, greenhouses and other infrastructure to start a new company

    Entrepreneurshipcourse

    Self-teaching & workshops

    New entrants

  • Thank you for attention!

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