Kurt Leutgeb (Austria Wirtschaftsservice, aws) - session 17/04/2015 Kurt Leutgeb's presentation at the Operational Training Session held on the 16/17 April 2015 in Maribor.

1. Intellectual Property Rights as Collateral
for Bank Loans
an aws-Pilot-Scheme
Operational Training Session (OTS)
Maribor/ Slovenia on 16 and 17 April 2015
Kurt Leutgeb - aws

2. Quelle: Ocean Tomo
Economy is changing
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Intangible assets represent an increasing share in
company value (1975: 17% vs. 2010: 80%)

3. Reasons for aws-pilot-scheme
 Change towards an innovation- and knowledge-based society
 Innovation-oriented SMEs are lacking standard collateral
 IPR are typically not used by banks for loan collateral
 International initiatives (eg. EVLIA in Europe, a new financing scheme
in Singapore, UK-initiatives)
 aws has a long lasting experience in assessing and licencing IPR
(special programmes and experts)
 aws has an even longer experience in granting guarantees for bank
loans
 Support of SME-financing is the main focus of aws: we want to build
bridges between banks (guarantees) and innovative SMEs (IPR)
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4. EVLIA – Project
http://www.evlia.eu
EVaLuation of Intangible Assets
 Facilitating access to credit for SMEs by enhanced visibility and
appreciation of Intangible Assets (IAs)
 Developing tools and a process that allow for reliable identification,
valorisation and eventually evaluation of IA in a business context
 Sharing the methodology, the tools, the process, the practice, and
offering training and support services for the widespread acceptance
and utilization
 testing of assessment methods with banks
 thus improving access to finance for SME especially for bank loans
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5. EVLIA – Project
Lead Partner
 Chamber of Commerce Industry Craft and Agriculture of Venice
Project Partners
 Veneto Region - Unit Research and Development - Italy
 Ca Foscari University of Venice - Italy
 Austria Wirtschaftsservice - Austria
 ECONOMICA Institute of Economic Research - Austria
 Executive Agency for Higher Education, Research, Development and Innovation
Funding - Romania
 Lucian Blaga University of Sibiu - Romania
 Jožef Stefan Institute - Slovenia
 Slovenian Public Agency for Entrepreneurship, Innovation, Development, Investment
and Tourism - Slovenia
 University of Pécs - Hungary
 Chamber of Commerce and Industry of Pécs-Baranya - Hungary
 Euro Perspectives Foundation - Bulgaria
 Athens Chamber of commerce and Indistry - Greece
 Belgrade Chamber of Commerce - Serbia
 Business Innovation Croatian Agency - Croatia
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6. EVLIA – results
 Knowledged-based economy => capital markets
should reflect this change
 IPR as collateral not used in Europe
 US and Asia are frontrunners, Europe is behind
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7. IA vs IPR
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8. What banks think of IPR as collateral?
 Yes, we use IPR – as an element in the Soft Facts Rating
 performance of the company is much more important
 cashflows are most important
 Lack of know-how and resources in the assessment of IPR in the
banking sector
 Realisation of IPR in case of insolvency is cost- and time-consuming
 Capital adequacy rules: IPR are not equity reducing, i.e. risk weighting
of 100 %
We might think about it, if public banks go
ahead.
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9. IPR-Pilot in aws
Additionality – advantage for SME
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substantial value of IPR no personal guarantees
• aws internal assessment
• IPR can be used as
collateral

10. IPR-Pilot in aws
Advantages for banks
 aws offers assessment of IPR for banks
 aws offers support in IPR-strategy and contracting for SMEs
 aws offers support in the realisation of IPR in case of insolvency (selling
or licencing) for banks
 additional collateral (risk reducing)
 capacity building in banks
 market position, competition between banks
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11. Quelle: Analysis of the Status-quo of IP Valorisation in SEE and in the Global Context, EC - EVLIA
Assessment of IPR
Dependent on the reason and the method/approach:
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12. IPR-Pilot in aws
Eligible types of IPR
 Initially patents only, trademarks and brands just in connection with
patents
 Registration in patent register is obligatory (of patent and pledge)
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13. IPR-Pilot in aws
Focus of the scheme
Innovative SME and start-up-companies
Budget
 in case of insolvency the average returns out of personal guarantees
are relatively low therefore the costs of this pilot programm should be
low (even if IPR recoveries are low)
 approx. 5 - 10 guarantees under this initiative, pilot for one year, then
analysis
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14. Monika Bednarik-Belan
Leiterin
Finanzierungs-| Projektgarantien
T +43 1 501 75 – 333
E m.bednarik@awsg.at
Austria Wirtschaftsservice Gesellschaft mbH
Walcherstraße 11A | 1020 Wien | www.awsg.at
Questions and Discussion
Kurt Leutgeb
Head Guarantees & Subsidies
k.leutgeb@awsg.at
Phone: +43 (1) 501 75 - 256
Austria Wirtschaftsservice
Walcherstraße 11A | 1020 Vienna | www.awsg.at
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