IISP Investment Readiness Workshop
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IISP Investment Readiness Workshop

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IISP Investment Readiness Workshop IISP Investment Readiness Workshop Presentation Transcript

  • The programme is funded by the European UnionIntegrated Innovation Support Programme Investment Readiness Workshop 05 July 2012
  • The programme is funded bythe European Union Agenda Outline1. Purpose of Investment Readiness Training2. Overview of proposed approach – Background – Proposed Model3. Key planning issues – Design – Management4. Discussion5. Conclusions and recommendations Integrated Innovation Support Programme (IISP) 2
  • The programme is funded bythe European Union What is Investment Readiness? The EC Communication on Financing Innovation and SMEs defines Investment Readiness as: “The entrepreneur‟s understanding of the concerns of banks, business angels and venture capital funds. In particular, this includes knowledge about communication with investors and about how to structure business plans to secure external finance.” (p.23) Integrated Innovation Support Programme (IISP) 3 View slide
  • The programme is funded bythe European Union OECD Investment Reform Index Policy Framework Integrated Innovation Support Programme (IISP) 4 View slide
  • The programme is funded bythe European Union Progress Already in Serbia…. Integrated Innovation Support Programme (IISP) 5
  • The programme is funded by The Investment Readiness Value Chain the European Union STAGE 7: EXIT STAGE 6: GROWTH DEVELOPMENT CAPITAL STAGE 5: CORPORATE FINANCE SBAN & STAGE 4: INVESTMENT Showcasing SPEA Links to investors Web-streaming ActivityINVESTMENTREADINESS STAGE 3: READINESS Workshops Main Focus of Assessment Panels 1:1 Consultancy –Green, Pathfinder Project Activity Build investment proposition & pitch STAGE 2: DIAGNOSTICS Grant, Debt, Equity, None ? Existing Serbian STAGE 1: AWARENESS Activities Investment options STAGE OF BUSINESS DEVELOPMENT Integrated Innovation Support Programme (IISP) 6
  • The programme is funded bythe European Union IR Programme Targets• Planned Start: ~ December 2012• 100 SMEs receive training• 20 SMEs receive investment readiness coaching• Programme training materials• Marketing of programme• Quality assurance system• Trainers trained (x10) Integrated Innovation Support Programme (IISP) 7
  • The programme is funded bythe European Union Programme will build on…• NARD Network – Business Start-Up training - Funding sources, and Business Planning – Support to Development Fund loans• Chamber of Commerce Workshop Programme, e.g. – Management of working capital in the company - overcoming the challenges of liquidity – Cashflow analysis and reporting – Applied Business Finance - Financial Alternatives• SBAN & Others Integrated Innovation Support Programme (IISP) 8
  • The programme is funded bythe European Union Target GroupsInnovative, growth oriented SMEs requiring investment – Equity – e.g. business angels, venture finance – Loan – e.g. medium and long term bank loans – Grant – e.g. Innovation Fund, FP7 etcTwo Target Groups:• Emerging Business – 100 SMEs trained• Growth Business – 20 SMEs coached Integrated Innovation Support Programme (IISP) 9
  • The programme is funded bythe European Union IR Programme Objectives• Raise awareness of investment opportunities• Develop understanding of needs of potential investors• Making SMEs attractive to investors• Formulating business investment propositions• Presenting SME „pitches‟ to win the investment• Successful legal/contractual conclusion of deals Integrated Innovation Support Programme (IISP) 10
  • The programme is funded bythe European Union Delivery Proposal• The emerging companies will receive: – 6 days group training (split into 3 x 2-day workshops, delivered in 3 regions and Belgrade)• The growth companies receive: – Up to 6 days group training (delivered in Belgrade) – Up to 2 days coaching Integrated Innovation Support Programme (IISP) 11
  • The programme is funded bythe European Union Emerging Business Group – 100 SMEs Understanding Investment Opportunities (2 days) •Investment options for Serbian businesses •Investor demands and expectations •Assessing your business’s appeal to investors. •Legal/contractual issues Developing Your Business Model (2 days) •Preparing a business strategy and business plan to appeal to investors. •Covering topics such as product development, patents and intellectual copyright, marketing, financial projections, management structure, HR planning etc Planning Your Investment Proposition (2 days) •Clarifying your business’s investment requirements and your offer to investors. •Delivering your pitch and handling questions. •Negotiating and finalising a deal. Integrated Innovation Support Programme (IISP) 12
  • The programme is funded bythe European Union Growth Businesses – 20 SMEs Understanding Investors (2 x 1 ½ days 20 participants)•Current investment options for Serbian businesses•Investor demands and expectations•Assessing and enhancing the appeal of your business to investors•Legal/contractual issues Individual Coaching (2 x ½ days for each participant)•To develop the proposition, and plan steps to enhance the attractiveness of the business Presenting Your Proposition (3 sessions for 20 participants)•Developing your pitch•Preparing written information•Presentation skills and visual aids•Handling questions•Negotiating an investment deal Individual Coaching (2 x ½ days for each participant)To polish the presentation and supporting materials, and practise handling investment negotiations. Integrated Innovation Support Programme (IISP) 13
  • The programme is funded bythe European Union Programme Promotion• Announcements through BSO and BISO networks• Public announcement through the MoERD website• Press and mass media awareness• Promotion to SMEs that have applied to MoERD, NARD, MoES direct support programmes and Innovation Fund• Flyers and promotional materials through financial intermediaries (banks, microfinance institutions etc.) Integrated Innovation Support Programme (IISP) 14
  • The programme is funded bythe European Union Selection of Participants• Application Forms• Use of Marketing and Promotional tools for „Self Selection‟• Use of written selection criteria• Transparent selection process• Initial assessment of overall suitability for participation in investment readiness• Assessment of whether an SME is more suited to the „emerging‟ or „growth‟ training track. Integrated Innovation Support Programme (IISP) 15
  • Implementation Worksteps - PlanningThe programme is funded bythe European Union• Design of investment readiness programme• Establish selection criteria• Training materials, and consultant guidelines• Identification and selection of trainers and consultants• Programme evaluation process and KPIs• Procedures and systems for consultancy support.• Responsibilities for management and monitoring• Quality control and feedback mechanism Integrated Innovation Support Programme (IISP) 16
  • The programme is funded bythe European Union Promotion and Delivery• Promotion of the programme• Training logistical support• Website content• Select programme participants• Deliver emerging business training• Deliver growth business training and coaching Integrated Innovation Support Programme (IISP) 17
  • The programme is funded bythe European Union Main Outputs and Results• 100 SMEs receive training• 20 SMEs receive follow-on IR training and coaching• Selection criteria• Training and promotional materials• Client contact management system• Quality system and procedures• Evaluation process and guidance• Programme backup logistical support process• Report on programme delivery Integrated Innovation Support Programme (IISP) 18
  • The programme is funded bythe European Union Guideline Questions for Discussion• Stakeholder involvement – who and how?• Focus – balance between loan/equity promotion?• Format for delivery – timing, mode, trainers?• Investment process – emphasis on preparation/pitch?• Programme length – training fatigue? Modular approach?• Market segmentation – appropriateness of 2 track approach?Other Recommendations?.... Integrated Innovation Support Programme (IISP) 19