Gvc Commercialization Of Technology Esyne


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Gvc Commercialization Of Technology Esyne

  1. 1. “ Catalytic Entrepreneurship with Social & Venture Capital” Prof. James Dimitrios Constantine Seferis GloCal Systems Management (GSM) Manager of GloCal Investment Ventures Enterprise (GIVE-TANEO FUND) Partner of Archimedes Center of Innovation and Creation (ACIC) www.glocalventurecapital.gr
  2. 2. People Equipment Project SET-IN-PLACE SORT STANDARDIZATION SUSTAIN SHINE SIX SIGMA QUALITY-PLATFORM(5 S + 6  Research Polymeric Composites Laboratory Team Education Engineering Business Environmental CO-WORK B E D R (Business, Education, Design & Research)
  3. 3. GloCal maintains a relationship with many affiliates through the Business Education Design and Research (“BEDR”) Global Group Network, “ BEDR” has been in existence since the late 1990s. Affiliates include globally located customers, manufacturers, and suppliers to the commercial aerospace industry, chemical manufacturers, universities, and banks. In 2008 the following organizations were associated with us: Academy of Athens, Greece AEROFLEX, Arlington, Virginia, USA Advanced Fiber Techniques, Canada Airbus, France, Germany, USA Air Force Office of Scientific Research, USA Alenia Aeronautica, Italy A.G.L.O.C.A.L.P. Academy of GloCal Processes, Tokyo, Japan Archimedes Center for Innovation & Creation, Greece Arizona State University, USA Athena Partners, USA Athens University of Economics & Business, Greece Athens Laboratory of Business Administration (ALBA) Biorasis, Connecticut, USA Swiss Italian Bank Corporation (Formerly, Banca del Gottardo, Switzerland) BKB Trading Company, Japan BAIM/BAIMTECH Davis. Wright and Tremaine, USA C.C. Cramer, Germany Central European University, Hungary CIRA (Centro Italiano Ricerche Aerospaziali), Italy CSIRO (Commonwealth Scientific and Industrial Research Organization), Australia Composite Systems Technology (CST), USA CYTEC Engineered Materials, USA easyJet/easyGroup, United Kingdom Ecole Polytechnique Federale de Lausanne, Switzerland Ecole Superieure de Commerce (ESC) de Lille, France Ecole Superieure de Commerce (ESC) de Toulouse, France Ecole des Hautes Etudes Commerciales (EDHEC), France Robert Edson Swain, Archtects and Design Eleftheroudakis Bookstore, Greece Eurobank, Greece Cyprus Bank, Cyprus Federal Aviation Authority (FAA), USA Foundation for Research Experiential Educational Developmental Operational Management, (FREEDOM), USA Future of Flight Museum, Everett, Washington, USA GloCal Network Corporation Polymeric Composites Laboratory GloCal University GloCal Investment Ventures Enterprize (G.I.V.E.) GloCal Systems Management (G.S.M.) Hellenic Aerospace, Greece Hexcion, Houston, Texas Hexcel Heatcon, Tukwila, Washington, USA Indian Institute of Technology, India Itochu Trading Company, Japan
  4. 4. Japan Times / NIFCO JCH Consultants INC, USA Japan Aerospace KYOWA, Japan Kanazawa Institute of Technology, Japan Korean Air Lufthansa, Germany Microsoft METSO MITSUI Cosmetics, Japan Nanophase Technologies, USA NASA, USA Nanoridge, Houston, Texas, USA National Aerospace Laboratory of Japan National Research Council – US Academies Science Museum of the national academy of sciences National Building Museum, USA National Science Foundation (NSF), USA National Technical University of Athens, Greece Olympic Airways, Athens, Greece Pacific Northwest National Laboratory, USA Patria Aerospace Structures, Finland Perkin Elmer, USA Philosophy in Business (PIB), USA PORTEON, Portland, Oregon, USA Process Administration Institute (PAI), France RMIT University, Australia Scaled Systems Technology, Ireland Sefko Greece-USA-Finland Seiko, Japan Seoul National University, Korea Setaram, France Stematix, Houston, Texas, USA Stony Brook University Suk-Kwang Co., Korea Sung-Kyun-Kwan University, Korea TANEO (New Economy Development Fund), Greece TA Instruments, USA TAKU River, Alaska, USA The Boeing Company, USA Boeing Commercial Airplane Group Boeing International Phantom Works Group 787 Program Tokyo University of Science, Japan Toray Industries, Inc., Japan University of Connecticut, USA University of Cyprus, Cyprus University of Delaware, USA University of Lecce, Italy University of Patras, Greece University of Perugia, Italy University of Tokyo, Japan War Museum, Athens, Greece Xerox, USA
  5. 5. INTRODUCTION to The Seferis Group of Companies and Non-profit organizations Integrative Global/loCal Networked System
  6. 6. Polymeric Composites Laboratory GloCal Investment Ventures Enterprize GloCal Systems Management The SEFKO Group Trade & Brokering Non-profit/ NGO Group Socio-economic developemnt Japan The Systems Group Technology & Finance The GloCal Group Services &Partnerships Development, Scaling, Sustainability with People Partnerships Processes U.S.A. Finland France Greece Ireland The GloCal Network Corporation An Integrative Global/loCal Networked Development Corporation Business Education Design and Research B.E.D.R – a Global Group Network P. C. L. G. I. V. E. G. S. M. The Structure of GloCal
  7. 7. Professor James Dimitrios Constantine Seferis INTEGRATED GROUPS SEFKO Trade & Brokering Ari Vihersaari SYSTEMS Tecchnology & Finance Chris Velisaris GloCal Partnerships & Services James C. Seferis NPO Socio-Economic Development Nikos Floros SEFKO LLC Seattle U.S.A. Composite Systems Technology USA GloCal Network Corporation Seattle, U.S.A. F.R.E.E.D.O.M. U.S.A. SEFKO EPE Athens, Greece SEFKO Oy Tuusula, Finland GloCal Systems Management Athens, Greece Scaled Systems Technology Dublin, Ireland GIVE-TANEO Fund Athens, Greece ARCHIMEDES Athens, Greece Process Admin. Institute Paris, France AGLOCALP Tokyo, Japan Polymeric Composites Lab Shubang Gan GloCal Venture Capital SEFKO GloCal Systems China
  8. 8. GloCal Venture Capital Funds <ul><li>GIVE – TANEO FUND => Greece </li></ul><ul><li>(closed end) </li></ul><ul><li>GIVE – EUROCY => Europe from Cyprus </li></ul><ul><li>(open end) </li></ul><ul><li>GIVE – L3C => U.S.A. </li></ul><ul><li>January 2010(open end) </li></ul><ul><li>GIVE – BRICK => China </li></ul><ul><li>2011(closed end) </li></ul>
  9. 10. EARLY-STAGE CAPITAL CONTINUUM – VALUE-CREATION STAGES Value or revenue Time Cumulative company age Years 0.5-1.0 1.5-4.0 2.5-7.0 Typical funding Attributes of business <ul><ul><li>Business idea/ concept </li></ul></ul><ul><ul><li>Technology (invention or IP) de-velopment </li></ul></ul><ul><ul><li>Business plan </li></ul></ul><ul><ul><li>Some proof-of-concept or prototype of technology </li></ul></ul><ul><ul><li>Expressions of customer interest </li></ul></ul><ul><ul><li>Refined revenue/profit model & business plan </li></ul></ul><ul><ul><li>Product (service) developed and manufactured </li></ul></ul><ul><ul><li>Customer validation, customer adoption and at least some revenue </li></ul></ul><ul><ul><li>Realistic plan for positive cash flow and/or profitability </li></ul></ul><ul><ul><li>Revenues/customers </li></ul></ul><ul><ul><li>Clear timeline to positive cash flow/profitability and/or </li></ul></ul><ul><ul><li>establishment of positive cash flow/profitability </li></ul></ul><ul><ul><li>Scaled execution of growth plan </li></ul></ul>Value Revenues Financing round -1 0 First Second Third Fourth/bridge Financing stages Stage duration Years 0.5-1.0 1.0-3.0 1.0-3.0 $25-100 thousand $100-250 thousand $250 thousand-2 million $1-3 million $3-5 million $5-50 million Pre-seed Early-stage VC Later-stage VC Seed Targeted liquidity event
  10. 11. EARLY-STAGE CAPITAL CONTINUUM – COMPANY ATTRIBUTES Typical funding* Employees <ul><ul><li>None (only </li></ul></ul><ul><ul><li>founder/s) </li></ul></ul><ul><ul><li>1-5 </li></ul></ul><ul><ul><li>3-20 </li></ul></ul><ul><ul><li>20-100+ </li></ul></ul>Manage-ment <ul><ul><li>Founders and/or project leader </li></ul></ul><ul><ul><li>CEO (professional management) </li></ul></ul><ul><ul><li>Other key senior team members </li></ul></ul><ul><ul><li>CEO plus full team </li></ul></ul>Marketing/ sales <ul><ul><li>Market assessment </li></ul></ul><ul><ul><li>Market research </li></ul></ul><ul><ul><li>Market-entry strategy </li></ul></ul><ul><ul><li>Distribution network </li></ul></ul><ul><ul><li>Market-expansion strategy </li></ul></ul><ul><ul><li>Market entry </li></ul></ul><ul><ul><li>Distri-bution strategy </li></ul></ul>Technology-specific milestones (medical device example)* <ul><ul><li>Proof of concept </li></ul></ul><ul><ul><li>Regulatory path outlined </li></ul></ul><ul><ul><li>Clinical thought leaders identified </li></ul></ul><ul><ul><li>Product complete </li></ul></ul><ul><ul><li>Next generation under way </li></ul></ul><ul><ul><li>Clinical studies </li></ul></ul><ul><ul><li>Regulatory path defined and clear </li></ul></ul><ul><ul><li>with possible FDA approval </li></ul></ul><ul><ul><li>Next generation developed </li></ul></ul><ul><ul><li>Clinical study complete </li></ul></ul><ul><ul><li>FDA approval </li></ul></ul>Financing round -1 0 First Second Third Fourth/bridge Financing stages $25-100 thousand $100-250 thousand $250 thousand-2 million $1-3 million $3-5 million $5-50 million * Amounts may be understated for medical device example Jobs 1 3 7 12 40 100 300 Pre-seed Early-stage VC Later-stage VC Seed Targeted liquidity event
  11. 12. EARLY – STAGE CAPITAL CONTINUUM – SOURCES OF FUNDS Typical funding Financing round -1 0 First Second Third Fourth/bridge Financing stages $25-100 thousand $100-250 thousand $250 thousand-2 million $1-3 million $3-5 million $5-50 million Pre-seed Early-stage VC Later-stage VC Seed Average funding size $30 thousand $150 thousand $1 million $2 million $4 million $10+ million Targeted liquidity event
  12. 13. GloCal Venture Capital Potential Core Investments (November 2009) <ul><li>ECOGREEN POWER S.A. </li></ul><ul><li>PolyNanoTech </li></ul><ul><li>eduDOTcom </li></ul><ul><li>XI-LA COMPOSITE AEROSTRUCTURES </li></ul><ul><li>AMAP </li></ul><ul><li>e-Garage </li></ul><ul><li>Healthylogics </li></ul>
  13. 14. GloCal Venture Capital PRESENCE GloCal Venture Capital In Greece is composed of GloCal Investment Ventures Enterprise (GIVE-TANEO) Fund managed by GloCal Systems Management (GSM) with membership in European Venture Capital Association(EVCA) in partnership with Archimedes, Center for Innovation and Creation a non-profit corporation GloCal Venture Capital In the U.S . is part of GloCal Network Corporation a Delaware corporation with offices and laboratory in Seattle, Washington dba(doing business as) GloCal Venture Capital In the states of Delaware and Washington . with membership in National Association of Start-up and Venture Funds (NASVF) in partnership with Foundation for Research Experiential Educational Developmental Operational Management (F.R.E.E.D.O.M.) a 501 © non-profit corporation
  14. 15. as Chief Science and Technology Advisor to Poly Nano Tech. net (U.S., Greece, Cyprus, Korea) Composite Systems Technology (CST) Established as an (S) corporation in 1983 by Dr. J.C.Seferis and now part of system group (Seattle, Dublin, Athens) has formed dba(doing business as) Poly Nano Tech. net in Boston, Massachusetts (PNT) to commercialize technology from CST membership in the Massachusetts Institute of Technology(MIT) consortium Nano-Engineered Composite aerospace Structures Under the leadership of Professor Brian L. Wardle
  15. 16. First round of financing (12months) Euro 2,500,000 Preliminary details: GIVE-TANEO Fund of Greece will fund Poly Nano Tech.gr under the leadership of: - Dr. Teni Boulikas as CEO (Founder & CEO of Regulon S.N. and Dedrigen S.A.) - Dr. Charalambos C. Doumanidis, Vice President and Chief technology officer of Poly Nano Tech.net (Professor, University of Cyrus / former Director of NSF Nanotechnology Initiative) - Dr. Constantine Paleos, Chief Scientific Officer, (Dedrigen and NCSR “Demokritos” (ret)) In collaboration with: - Dr. Dimitrios Niarchos, Chairman of the Board National Center for Scientific Research (NCSR) “Demokritos” - Dr. Athanasios Mamalis, Professor National Technical University of Athens and NCSR “Demokritos” - Dr. Nick Kanellopoulos, Director, European Center of Excellence on Nano-Porous Solids and Materials for Environmental Separation Laboratory, NCSR “Demokritos” - Dr. Achileas Kanellopoulos, President of American University in Athens (1)
  16. 17. GloCal Venture Capital in Greece and U.S. will be lead investor and solicit additional participation from other Venture Capital funds, NECST members, and State Economic Development Agencies Preliminary details: Poly Nano Tech.gr will establish (incorporate): Poly Nano Tech. U.S.A. in partnership with CST and Professor Brian L. Wardle Poly Nano Tech. Cyprus in partnership with ADT Nano and Professor Charalambos C. Doumanidis Poly Nano Tech. Korea in partnership with J.D. Tech and Professor Jae Do Nam (2) (3) (4)
  17. 20. -GloCal University -Polymeric Composites Laboratory -Designed Composites Composite Systems Technology (CST) SEFKO E Π E (Greece) P.A.I. A.C.I.C. A.G.L.O.C.A.L.P. SEFKO Oy F.R.E.E.D.O.M. SEFKO LLC SST GIVE / GSM