Presentation of the Access ICT Project- Internet of Things 2011 Congress - Brussels, Belgium
An overview of theACCESS ICT Project Miguel Trujillo, COO, EBAN 29 June2011
Introduction• FP7 supports ~2000 ICT R&D (budget €9.1bn)• 2013: 7.41% of EU Budget devoted to research and innovation*• Few FP R&D projects commercialise their results and spin out a viable business. Many new technologies, products and services never reach the market• BA and VC Funding can be an effective way of commercialising research and growing innovative product or services into successful businesses• Angels and VC investors always look for ICT innovations and business opportunities *Source: Green Paper : From Challenges to Opportunities: Towards a Common Strategic Framework for EU Research and Innovation funding
Who are we? EBAN: European Trade Association of business angels, seed funds and other early stage investors115 organizations - 26 countries – c. 25,000 investorsIt represents the interests of 2/3 of the business angelgroups operating in Europe Lead partner of ACCESS ICT
ACCESS-ICT: A project led by the investment community.• An initiative targeted at FP6& 7 funded early stage ICT SMEs and ICT research projects looking for funding from VC and angel investors.• ACCESS ICT is a free service funded by the EC (DG Information Society and Media), led by EBAN with the partnership of Angel Capital Innovations, the consultancy company of London Business Angels.
Why is EBAN involved in ACCESS ICT?1. Lack of investment readiness: entrepreneurs do not understand and fulfil investor requirements – Reasons: • Historically, knowledge transfer has been monetised by licenses - less costly to sell knowledge than create a business • The scientists that develop the new technologies: – Lack entrepreneurial aspirations – Lack management skills and market knowledge
Why is EBAN involved in ACCESS ICT?2. Almost 50% recorded investments in Europe by angels are in ICT Source: EBAN Statistics Compendium 2010
Why is EBAN involved in ACCESS ICT? 3. Increase cross border investment 4. Creation of a pan European network of investors in ICT 5. Identify key policy recommendations
Benefits for SMEs & Research Teams• Free coaching and mentoring to become investment ready• Access to tailor-made tools (eb. Tool Kit)• Participation in one-to-one clinics and evaluation of investment readiness.• Introduction to investors and funding events across Europe (locally+pan-European).
Benefits for Investors• Exclusive source of high quality deal flow based on ICT innovations• Opportunities to participate in targeted events, workshops and discussions lead by expert fellow investors• Access to network of ICT venture capital experienced investors, organised around EBAN
Policy Recommendations1. Increase capacity building of research projects and SMEs to strategically plan for investment2. Raise awareness Europe-wide concerning the role of angel and venture capital investors.3. Streamlining the road to market and contact with investors • Involving investors in selection panels for R&D projects • Ensuring that proposals include focus on commercialization and investment potential4. Leverage private sector involvement in the market • Stimulate the growth of more early stage equity investments in ICT SMEs through new business angel-led co-investment funds, including cross border to leverage both angel finance and business building skills.5. Building an entrepreneurial and financing ecosystem