The first-mile incubator of AREA Science Park


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Innovation Factory is the first-mile incubator of AREA Science Park

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The first-mile incubator of AREA Science Park

  1. 1. knowledge is a network Innovation Factory The first mile incubator of AREA Science Park Ing. Paolo Cattapan CEO of Innovation Factory s.c.r.l. Director of the Technology Transfer Department - AREA Science Park 1
  2. 2. From European, National and Regional Funds 1997 2001 2006 PAT LIB PROJECT unit to transfer innovative IP management tive products and processes initia ator to FVG companies le incub a f ir st mi 2003 2002 R&D COMPETITIVENESS oach appr rs roke me t h ods ation b ld sities SYSTEM innov the fie eUniver lts on hanc esu res r to en &D Cent R and 2001 2006 2001 Quasi-Empresa project Business and tive management to move researchers initia n brokers tio unit to industry nova to tr ain in 2
  3. 3. Life Cycle of a start up company R&D managerial and financial Establishment of the support at the very first mile Start-up for IF EXIT EXIT Start Start up risk up price Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 • Inn. Idea •Patents First First Market •Trade • R&D •Prototypes Product Sale Established •Sale activities to be launched •IPO on the market Pre-seed Seed Start up Expansion Incubators as usual 3
  4. 4. The Process from the Business Dream to the Business Plan Entrepreneurial training Scouting and Project Establishment Venture analysis Development of the company Capital Technical, managerial and financial support “Business Dream” Business Plan IF supports the Development Group IF supports the company 1 – 1,5 years 1 – 1,5 years 4
  5. 5. Way out At the end of the pre incubation period of the Group: Failure: The company is not some milestones established, and Innovation have note been Factory loses its investment achieved The entrepreneur and Innovation Factory establish the Start up company (the entrepreneur has Success: always the control of the company, 2 possible and IF is a shareholder) way out The entrepreneur pays back to Innovation Factory the investment, and becomes the only shareholder of his Start up company 5
  6. 6. Results After 2 years work: • Innovation Factory evaluated 20 project ideas • 4 Development Groups (20%) have been incubated • One of these established the first company: AMPED s.r.l. • We expect ModeFinance to establish the second company in a few months • Of the 2 of the other potential companies: 1 doing well – 1 question mark • Innovation Factory will support 2 other Development Groups starting from the end of this year 6
  7. 7. For more information Thank you for your attention Innovation Factory s.c.r.l. AREA Science Park Padriciano, 99 – 34012 Trieste Phone +39 040.3755152 7
  8. 8. AMPED FIVE The New Forensic Image Processing Software
  9. 9. AMPED: COMPANY PRESENTATION Amped develops software for analysis and  enhancement of videos for forensic and investigative  applications How many times do we read things such as: “The police has the video of the criminal but the  image is too bad to read the license plate”? 2005: started as University project , together with  scientific investigation units of Carabinieri (RIS of Parma) 2006: won 2° prize at the business plan competition  StartCup Trieste 2006 2007: project supported by Innovation Factory 2 April 2008: Amped SRL officially established
  10. 10. AMPED FIVE One single software for all security‐related tasks: from  CCTV enhancement to fingerprint analysis Complete: more cases solved (better national security) Fast: dramatically reduces investigation times and  costs (more than 90%) Easy: no need for external specialists Secure: scientifically documents the processing to  certify images to the court LET’S TAKE A LOOK… 3
  11. 11. Contacts: Martino Jerian Amped SRL, Area Science Park Padriciano 99, 34012 Trieste, Italy Web: Mail: Phone:  0039.040.3755333 Fax:        0039.040.3755335 Mobile: 0039.333.4455518 THANKS FOR YOUR TIME
  12. 12. modeFinance rating: the right tool to  comprehend the financial strengths of  New Europe companies.  For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  13. 13. Today… Lehman Brothers crack Alitalia Parmalat Cirio … BUT… Tue Sep 9, 2008 2:42pm EDT S&P said it cannot rule out cutting Lehman's ratings  by more than one notch. A two‐notch downgrade  NEW YORK (Reuters) would cut Lehman's current quot;Aquot; rating, the sixth‐ highest investment grade, to the quot;triple‐Bquot; range. For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  14. 14. … so we need… New,  clear  and  transparent methods  to  evaluate  the  financial risk of companies. New methods for RATING assessment with new visions: 1.Clear source of information; 2.Direct  and  strong  relation  between  financial  figures  and final rating; 3.Completeness and comparability of data; 4.Innovative methodologies . For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  15. 15. Our solution: MORE Multi Objective Rating Evaluation Our  innovation:  observe,  study  and  evaluate  a  company as an engineering system, without “a priori” assumptions. This innovation permits a transparent evaluation of the  financial and economical quality of every companies in  Europe. MORE: Multi Objective Rating Evaluation, based on the  more  recent  technologies  in  engineering  design  (Decision Theories, Fuzzy Logic, Game Theories). For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  16. 16. The MORE result MORE Rating Class Rating Macro class Assessment The company's capacity to meet its financial commitments is extremely  AAA strong. The company shows an excellent economic and financial flow  and fund equilibrium. The company has very strong creditworthiness. It also has a good AA capital structure and economic and financial equilibrium. Difference  from 'AAA' is slight. Investment Grade The company has a high solvency, The company is however more  A susceptible to the adverse effects of changes in circumstances and  economic conditions than companies in higher rated categories. Capital structure and economic equilibrium are considered adequate.  BBB The company's capacity to meet its financial commitments could be  affected by serious unfavourable events. A company rated 'BB' is more vulnerable than companies rated 'BBB'.  BB The company faces major ongoing uncertainties or exposure to adverse  business, financial, or economic conditions. The company presents vulnerable financial signals. Adverse business,  Non ‐ Investment  B financial or economic conditions will be likely to impair the company's  Grade capacity to meet its financial commitments. A company rated 'CCC' has a dangerous disequilibrium in its capital  structure and financial fundamentals. Adverse market events or  CCC inadequate management are highly likely to affect the company's  solvency. The company shows signals of high vulnerability. In the event of CC adverse market and economic conditions, the company's strong  disequilibrium could increase. C Distressed The company shows considerable danger signs. The company's capacity  to meet its financial commitments is very low. The company no longer has the capacity to meet its financial  D commitments. For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  17. 17. modeFinance & Bureau Van Dijk Rating  for  more  than  11  millions  of  companies  in  41  European  countries: from Portugal to Ukraine. #  ID #  ID # ratings  # ratings  Country companies  Countr Country companies  Country assigned assigned evaluated y evaluated …… …… …… …… 1 AUSTRIA 165.311  475.589  …… …… …… …… 2 BELARUS 5.091  10.875  RUSSIAN  3 BELGIUM 33 FEDERATION 814.840  2.876.654  359.827  2.589.439  BOSNIA  AND  34 SERBIA 21.498  231.488  4 HERZEGOVI 7.085  35.536  NA 35 SLOVAKIA 10.460  33.734  5 BULGARIA 200.519  965.670  36 SLOVENIA 32.638  68.678  6 CROATIA 21.146  164.268  37 SPAIN 971.489  4.793.305  7 CYPRUS 387  1.338  CZECH  38 SWEDEN 262.847  2.062.756  8 REPUBLIC 93.869  301.349  9 DENMARK 39 SWITZERLAND 33.912  155.843  175.064  716.376  10 ESTONIA 40 UKRAINE 309.125  1.831.926  70.630  339.593  UNITED  11 FINLAND 82.589  538.909  41 KINGDOM 2.354.818  10.845.504  For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  18. 18. modeFinance Credit Report For every European company we produce  a  credit  report  to  evaluate  the  financial  risk: rating and probability of default. For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  19. 19. modeFinance advantages Thanks  to  its  innovative  model,  modeFinance  evaluates  every  company  in  Europe:  MORE  methodology  doesn’t  need  the  knowledge  of  bankrupted  companies  for  the  rating  and  the  probability of default attribution. The modeFinance rating is particularly useful for all the countries  where financial information are missing (East Europe). For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  20. 20. Euroregione In order to explain how rating could be useful for  public  and  private  institutions  we  present  a  study that compares three regions: •Slovenia •Croatia •Triveneto We  segregate  the  companies  also  according  to  their turnover. For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  21. 21. The companies according to turnovers For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  22. 22. The Distribution of the companies’ ratings For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  23. 23. Why the differences in rating? For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  24. 24. modeFinance Exclusivity The others... …but we provide more! Lack of knowledge  Clear source of  Objectivity of the used  information: only  information AMADEUS data Direct and strong  No clear  relation between  Transparency explanation of the  financial figures  rating assessment and final rating Rated only “big” 11 million of  Completeness companies companies For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  25. 25. modeFinance • Professor at Mechanical Engineering, University of Trieste, Italy • Professor at Mechanical Engineering, University of Trieste, Italy • PhD in Numerical Methods. • PhD in Numerical Methods. Valentino Pediroda • modeFinance co‐founder • modeFinance co‐founder Tel: +39 334 6717480 Tel: +39 334 6717480 email: email: • Advisor for Italian rating agencies • Advisor for Italian rating agencies • PhD in Corporate Finance • PhD in Corporate Finance Mattia Ciprian • modeFinance co‐founder • modeFinance co‐founder Tel: +39 340 2948054 Tel: +39 340 2948054 email: email: •MBA in Corporate Finance •MBA in Corporate Finance • modeFinance Financial Analyst • modeFinance Financial Analyst Pinar Dilek email: email: For more information visit: or send an  e‐mail to: Trieste, 26/09/2008
  26. 26. Where we are Trieste, Italy: AREA Science and Technology Park • The leading Science and Technology Park in Italy • Established in 1978 • Key point: only companies with high innovative  technologies. modeFinance Headquarter building R3, 2nd floor c/o Innovation  Factory AREA Science Park, Padriciano 99  34012 Trieste  ITALY  Phone1: +39 334 6717480 Phone2: +39 340 2948054 Fax: +39 040 3755176 e‐mail: Web: For more information visit: or send an  e‐mail to: Trieste, 26/09/2008