La presentazione di Nava Swersky Sofer, venture capitalist israeliana di successo, sul successo del modello start up in Israele, WEF è Start up (22 marzo 2014)

1. Web Economy Forum
Cesena, March, 2014
Nava Swersky Sofer, Founder & Co-Chair
Innovation, Israeli Style:
Lessons from the Start-Up Nation
Nava Swersky Sofer1

2. Today’s Session
 Innovation
 What is it?
 Why innovate?
 Israel – The Start-Up Nation
 Where we are
 How we got there
 Technology transfer
 Smart government intervention
 Example: nanotechnology
 The Innovation Recipe
Dialogue is welcome!
Nava Swersky Sofer2

3. Nava Swersky Sofer
 International speaker and consultant to companies, governments, universities,World Bank, UN/WIPO.
Leading expert on innovation and commercialisation
 Start-up company boards and management in Europe, US and Israel
 Big pharma 1991-1995
 Vice President,Worldwide Head of Pharma Policy and member of management forum, Ciba-Geigy AG (now
Novartis), Switzerland
 Venture capital 1995-2005
 Partner, SanderlingVentures, California, $ 1 Billion leading healthcare fund
 Founder & Managing Partner, ColumbineVentures, Israel
 Partner, ConcordVentures, Israel, $260 million leading diversified fund
 Tech transfer & commecialisation since 2005
 President & CEO,Yissum – Hebrew UniversityTechnologyTransfer 2005-2009
 President & founding board member, International Commercialisation Alliance, 2011- (non-profit)
 Public
 NanoIsrael 2009, 2010, 2012, 2014 founder and co-chairperson
 Israeli representative to OECD BIAC nanotechnology committee
 INSME board member, 2013- ; UNWIPO innovation adviser
 Vice Chair, OCE Center for Commercialization of Research, Canada, 2008-2013
 Israel’s $50M biotech consortium, 2000; BioJerusamel founding board, 2006-2009; IsarelTechTransfer Organisatio
(ITTN) 2008
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4. World Population To Grow by 1/3 in 40 Years
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2050
9.2 Billion
2010
6.9 Billion
Source: Scientific American 2010
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5. The Pace of Technology is Accelerating
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Source: Discover Magazine
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6. Innovation Is Essential
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 Key to global competitiveness
 On a national scale
 On an institutional / company scale
 Collaboration essential
 Big and small companies
 Universities and research institutes
 New initiatives to foster innovation
 Innovation intermediaries
 Commercialization catalysts
 Human component essential
 Highly educated
 Technically skilled
 Entrepreneurial and flexible
 Globally-oriented
Source: InnovationAmerica
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7. Innovation
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 “The process by which an idea or invention is translated
into a good or service for which people will pay, or
something that results from this process”
 Business Dictionary
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8. “Innovation Distinguishes Between A Leader
and a Follower”
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Steve Jobs, Apple
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9. Change To Survive And Thrive
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 “It is not the strongest of the species that survives, nor
the most intelligent that survives. It is the one that is the
most adaptable to change.”
 Charles Darwin
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10. Douglas Adams
(Author, “Hitchhiker’s Guide to the Galaxy”)
“I’ve come up with a set of rules that describe our
reactions to technologies:
1.Anything that is in the world when you’re born is
normal and ordinary and is just a natural part of the way
the world works.
2.Anything that’s invented between when you’re
fifteen and thirty-five is new and exciting and
revolutionary and you can probably get a career in it.
3. Anything invented after you’re thirty-five is
against the natural order of things.”
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11. Israel: The Start-Up Nation
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12. Israel Inside
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13. Given Imaging’s PillCam
Using Military Technology for Medicne
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Acquired by Covidien
for $900 Million in
February 2014
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14. Community-based traffic & navigation app
Acquired by Google for $1 Billion in June 2013
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15. National Expenditure on R&D
as Percentage of GDP
Source: Bank of Israel; CBS
0.6
0.9 1.0 1.1 1.1
1.3
1.6 1.6 1.6 1.7
1.9 2.0
2.2 2.2
2.5 2.6 2.6
3.1
3.5
3.7
4.5
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
G
reeceSpain
N
ew
ZealandIreland
Italy
C
zech
R
epublic
A
ustraliaC
anadaN
orw
ay
U
nited
K
ingdomFrance
average
O
ECDD
enm
ark
U
nited
States
G
erm
anyK
orea
Sw
itzerlandJapanFinlandSw
eden
Israel
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16. Highest Venture Capital Availability
Venture Capital investment per person, selected countries, 2010, US$
Source: The Economist 2012, based on National Venture Capital Association, European
Private Equity & Venture Capital Association, Israel Venture Capital Research Center, UN
• 4,800 active tech companies
• 600 new companies / year
• US$ 1-2 Billion invested / year
0 25 50 75 100 125 150 175
Israel
United States
Norway
Sweden
Switzerland
Finland
Denmark
France
Britain
Ireland
Netherlands
Belgium
Austria
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17. 250 Multinational R&D Centres
Employing 50,000 People
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18. Israel: An Innovation Powerhouse
Globally Open
2nd highest number of NASDAQ-
traded companies
>60 companies traded in EU
Entrepreneurial
1st in start-ups per capita
2nd in business entrepreneurship
World Class Science
1st in quality of scientific research
institutions
6 Nobel laureates
Human Capital
2nd in availability of qualified scientists
& engineers
Source: IMD World Competitiveness Report, World Economic Forum Competitiveness Report, 2010 -11
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19. Start-Up Nation: The Starting Point
 Small
 New
 Isolated
 No natural resources, not
even water
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20. When Life Gives You Lemons…
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 Small
 New
 Isolated
 No natural resources, not
even water
 Immigration – from 600k to
8 million in 65 years
 Interdisciplinary
 No strong traditions => Open
to change
 Strong military => training,
innovative technology
 International outlook
 Brain power, education =>
innovation
 Novel job creation schemes
A Culture of Innovation
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21.  World pioneer in tech transfer since 1959
 Two of world’s top tech transfer companies
 Yeda,Weizmann Institute of Science ( est.1959)
 Yissum, Hebrew University of Jerusalem (est.1964)
 >$22 Billion in licensed product sales
 $ hundreds of millions in tech transfer revenues annually
 Dozens of spin-off companies
 Success stories
 Copaxone®, Exelon™, Erbitux®,Azilect™, Doxil™, Rebif®, Cherry
tomatoes, peppers, NDS Ltd. encryption algorithm, MobilEye driver
assistance system…
Successful Academic Commercialization
Source: ITTN
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22. The Israeli Tech Transfer Model
 Company, not office
 Wholly owned subsidiary with business focus
 Business leaders on boards
 Balance academic viewpoint
 Clear IP ownership…
… with generous revenue sharing (40-60%)
 One-stop-shop for industry – leverage relationship
 Sponsored research + licensing
 Sometimes consulting
 Focused on royalties
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23. Tech Transfer Key Success Factors
 Create the right environment
 Business-focused organisation with operational independence
 Clear IP ownership
 Generous revenue-sharing policy
 An excellent team with relevant industry experience
 Get lucky!
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24. Smart Government Intervention
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 Office of the Chief Scientist supporting private sector
innovation since 1969
 Strategic decision to create military R&D capabilities
 Venture industry created by government => privatised
 Incubators: from job creation scheme to pillar of national
innovation eco-system
 Innovative industry/academia support mechanisms
 Evolving policies addressing market needs, e.g.
 Early stage funding
 Multinationals
 Strategic initiatives, e.g. nanotechnology
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25. Some OCS Programmes
 Academia/industry technology transfer
 Proof of concept grants for early stage project, academia-based (100% funding)
 Proof of principle grants for academia-based projects with initial industry interest
(90% funding, 10% from industry for first look)
 Tech transfer grants for academia/industry collaborations between one academic
institution and one industry partner (66% funding, 34% industry)
 Consortia encompassing several academic institution and several companies
 Initial IP protection
 Early stage company formation
 R&D support for both young and mature companies in the form of grants
which are repayable in the case of success and then carry a royalty
 Collaborative agreements with multinationals providing matching funding
for projects with local companies and academic institutions
 Bi-national collaborations (Matimop)
 Special initiatives, e.g. military technologies for civilian use; multinationals,
nanotechnology
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26. Nanotechnology in Israel
 Israel National Nanotechnology Initiative (INNI)
 Established 2001 by Israeli government and the Israeli National Academy of Sciences
 Strong representation from both industry and academia
 Objectives
 Promote establishment of local nanotechnology-based industry and academia-industry collaborations
 Long range programme for research & technology development and world-class infrastructure
 Israel’s high priority challenges as defined in INNI plan
 Nanobiotech
 Water desalination
 Alternative energy
 Environment
 Electronics
 Unique tri-partite funding model: 1/3 government, 1/3 academia 1/3 philanthropic
 First centre established at Technion 2005, five others in 2007: Hebrew U,Tel Aviv U, Ben Gurion U,
Bar Ilan U, Weizmann Institute
 Second five-year term from 2012 after highly successful first five years
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27. Measurable Outcomes in First Six Years
of Israel’s National Nanotechnology Initiative
Source: INNI
 830 academia-industry collaborations
 860 patent submissions, of which 270 granted patents
 206 companies
 6 academic centres establishes
 101 world-class scientist recruited as faculty members
 220 junior scientists/post-docs
 750 PhD students
 850 MSc students
 7,500 published scientific articles, of which
 1,500 articles resulting from industry-academia collaboration
 $300 million investment by government & universities
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28. The Next Five Years –
Focal Technology Areas
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29. Nava Swersky Sofer29

30. The Innovation Recipe
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Culture
Environ-
ment
Infra-
structure
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31. Infrastructure
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 Education
 Innovative research
 Smart funding
 Management
 Facilities
Infra-
structure
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32. Environment
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 Regulation
 Market access
 Tax credits
 Institutional investment
Environ-
ment
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33. Culture
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 Breaking old habits
 Encouraging entrepreneurship
 Learning to embrace failure. It’s part of
the package
Culture
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34. In Summary
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 Make best use of available assets
 Research
 Facilities
 Funding
 Supportive environment
 Focus on areas of strength
 Import best practices
 Fine tune for local needs
 Culture change takes time
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35. Thank you for your attention.
Come visit us in Israel!
nava@swersky.com
@NavaSwerskySofe
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