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The FAME initiative: access to finance for creative industries

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TCI ANNUAL GLOBAL CONFERENCE – OCT 18TH …

TCI ANNUAL GLOBAL CONFERENCE – OCT 18TH
Workshop Title: Creative & cultural industry clusters

Published in Economy & Finance
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  • 1. TCI ANNUAL GLOBAL CONFERENCE – OCT 18THWorkshop Title:Creative & cultural industry clustersThe FAME initiative: access tofinance for creative industries FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 2. Filas support in the life cycle of a company POR ERDF  Venture Capital 20 M € POR ERDF  Voucher  schemes 4 M € POR ERDF  Micro‐innovation 30 M € POR ERDF Spin‐ Off start‐up 4M€ FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 3. FILAS Cluster management - DTA 2004 -DTA- Aerospace Technological District 2008 - DTB – Bioscience Technological District 60 M € DTA budget • Linkages with large 77 M€ DTB budget Pros companies Lessons • Big R&D projects learntTop-down approach • No sustainability towards regional Cons • No direct and clearcompanies impact Rich call for proposal for R&D projects and Business Development ADDITIONAL BUDGET 2011-2014 DTA- 10 M € 2011-2014 - DTB – 30 M € FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 4. FILAS Cluster management - DTC2008 -DTC- Cultural Heritage and Tourism District 13 M € budget • Creativity applied to traditionality towards Pros innovative sectors Lessons learnt (mobile cultural tourism) 5 pilot projects launched through call for tenders at EU Cons • No sustainability level; 10 projects Use of EU, national and regional financial resources FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 5. DTC – cultural sitesCaprarola CerveteriPalazzo Farnese Monumental necropolis3D reconstruction Mobile AppTalking pictures Virtual reconstruction inside 5Sound and light show tombs Etruscan story-tellingDigital Bus SperlongaLocal maps with geographic The imperial villa of Tyberius and theinformation “Coastline of Ulysses”Guided tours enhanced by Water Jet Screeningsvirtual reconstructionsDigital SignageSolar PanelsImmersive Video CameraAccessibility for Disabled FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 6. Filas - cluster management approach The 6 stages of social innovation Challenge Proposals Social and  systemic  Prototypes change Sustainability ScalingSource – elaboration from The Open Book of social innovation – NESTA 2010 FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 7. The social innovation concept for FILASINNOVATION:What is desirable to use? What is possible with technology? What is viable in the marketplace? FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 8. FILAS Cluster management - DTD2012 -DTD- Digital and Creative Industry District Little financial resources needed Small  Clear sustainability financing,  Direct results on the Evaluation of  which follow territory best solutions step by step Assessment of real the  development problems/needs of the project Launch of a  call (address need/problem) FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 9. FILAS Venture Capital methodology Matching of competencies and money Clear interlinked roles and actions Good understanding of markets Fast decision making Need of a fast ROIMarket failure approachBiz/social job creation approach FAME ‐ FACILITATING ACCESS  Public money Private money & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 10. FILAS Venture Capital instrumentDirect co-investment with Biz Angels and private investors 20 M € budget Spin off and spin out Early stage and expansion support Subsidiarity and complementarity Smart co-financing mechanism FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 11. FILAS VC advantages for investors IndependentRisk mitigation evaluationEquity kicker Joint scouting and evaluation phases FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 12. The FAME intiative Facilitating Access &FAME Mobilisation of European finance for Creative industries FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 13. WHY FAME?From a Regional …Pan-EU approachapproach to a… FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 14. FAME objectives FILLING THE FUNDING GAPFAME 4 COMPANIES FAME 4 INVESTORS Specialised Coaching, Leverage strategy – training, tools and in-kind Co-investment models support FAME Pan-EU fund Pitching events for creative industries FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 15. FAME next events1. Copenhagen (Denmark) November 12th –14th 2012 - FAME coaching/pitching event in concomitance with the Creative Business Cup finale http://www.creativebusinesscup.com.2. Heidelberg (Germany) March 19th – 20th 2013 FAME coaching/pitching event in concomitance with the Heidelberg Innovation Forum http://www.heidelberger- innovationsforum.de/index.php?id=139&L=33. The 3rd and last FAME coaching & pitching event will be organised in Rome in June/July 2013. Putting together International companies, financial Only the best creative dimension investors, clusters and industries SMEs stakeholders FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 16. Who are we looking for? Strategic partner organisations to leverage regional/national funds (guarantee, early stage) on Creative Industries FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 17. No clear future butstrong committment and safe sailing FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN  FINANCE FOR CREATIVE INDUSTRY  GROWTH
  • 18. FAME ‐ FACILITATING ACCESS  & MOBILISATION OF EUROPEAN 06/11/2012 FINANCE FOR CREATIVE INDUSTRY  GROWTH