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  • Locations with high concentrations of VC back companies Locations where Amadeus has held portfolio companies
  • Locations where Amadeus has held portfolio companies
  • Transcript

    • 1. Funders’ Forum A Venture Capitalist’s View Why Universities need to care about Capital Markets Anne Glover - CEO Amadeus Capital Partners Limited November 27 th 2006
    • 2. US Venture Capital Commitments vs. NASDAQ Source: VentureSource/Thomson Venture Economics, Bloomberg Venture Capital Fund commitments are correlated with the level of the NASDAQ index
    • 3. UK Total High Tech VC Investment (All Stages, £m) Source: BVCA £m UK Venture Capital investment followed the same pattern
    • 4. UK University Spin-out Company Formation Activity Source: Spin-out Monitor,Library House,2005 …… .as did University spin-outs
    • 5. European Renaissance Trailing 12 months Number of Venture backed IPO’s Source: VentureSource Number of IPOs in Europe are outpacing those in the US for the first time since Q4 2001. Sarbanes Oxley Effect
    • 6. The UK’s Unique Opportunity
      • Strong Science Base
        • Over 36 research based Universities
        • Several in the top 50 globally
      • Strong private equity industry
        • Second only to the US in maturity, scale and success
        • Approximately one-third of all invested venture capital in Europe
      • Strong capital markets
        • LSE is the most sought after listing location for foreign companies
        • AIM is providing growth capital previously missing for UK companies
      • Supportive Government
        • R&D tax credits
        • Favourable macroeconomic and fiscal environment
        • Broad and active support for the knowledge intensive sectors
    • 7. An opportunity …… …………….to accelerate technology innovation
      • Which happens in clusters like
      • Silicon Valley, Route 128, North Carolina
      • Oxford, Cambridge, London
      • Munich, Paris, Stockholm, Helsinki,
      • BUT
      China and India will catch up in innovation and the US will fix its red tape
    • 8. UK & Ireland Technology Clusters
      • Comprised of
        • World class universities
        • Corporate research facilities
        • Technology consultancies
        • Supportive local government
        • Flexible infrastructure (science parks, leased offices etc)
        • Business angel communities
        • Local venture capitalists
        • Successful large and small companies
        • Multiple job opportunities within a specific career area
        • Multiple networks to facilitate knowledge sharing
        • Attractive social communities
      Technology start-up activity requires an eco-system to develop successfully
    • 9. Continental Technology Clusters
      • Most other European countries have two or fewer world class clusters
      • All have less access to capital – business angel, VC and public market than in the UK
      • Many do not yet have the entrepreneurial track record of the UK
      But the real competition is global not regional
    • 10. Venture Capital Expansion into or across Europe
      • Only the Europeans are seriously interested in expanding within Europe
      Source: Global Trends in Venture Capital 2006 Survey, Global report sponsored by Deloitte Touche Tohmatsu
    • 11. University and Venture Capital Collaboration
      • The brutal fact is that not all Universities will spawn a cluster in all fields - and each must focus on only a few commercial areas
      • Business and entrepreneurs can now access talent globally, but can be attracted by many factors the UK has to offer:
        • Clear intellectual property rules
        • World class research and talent
        • Diverse commercial activity in its sector
        • Supportive Government policy
        • Good infrastructure
        • Availability of a ‘chain’ of capital – business angels, venture capitalists and public market
      The UK must build a few world class clusters that can compete with Silicon Valley today …… . And Shanghai tomorrow

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