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Program VENCRO

Program VENCRO. Ante Mamić Business Innovation Center of Croatia - BICRO. Content s. Sources of C apital Risk C apital Business Innovation Center of Croatia – BICRO BICRO-a Programs VENCRO Program Conclusion. Public Offering Private Placements Joint Venture Risk Capital

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Program VENCRO

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  1. Program VENCRO Ante Mamić Business Innovation Center of Croatia - BICRO

  2. Contents • Sources of Capital • Risk Capital • Business Innovation Center of Croatia – BICRO • BICRO-a Programs • VENCRO Program • Conclusion Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  3. Public Offering Private Placements Joint Venture Risk Capital Strategic Alliance Merger Acquisitions Franchising Licensing Loans Grants Bonds Sources of Capital for young innovative companies Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  4. Risk Capital • equity and quasi equity financing to companies during their early-growth stages • includes: • business angels • venture capital • alternative stock markets specialized in SMEs including high growth companies • Copernicus Capital - 30M $ • Seaf Croatia - 8,2M $ • Horizonte Venture Management - 20M € • Quaestus Private Equity Partneri - 35M € • HBOR - 8,22M € - informal investments Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  5. Venture Capital Risk Capital Tech Transfer / Incubators Business Angels / Pre-Seed Venture Capital Expansion /Development Capital Seed-stage Early-stage Private Equity Stock Exchange,Public Equity Later-stage BUY-OUT Mid-stage Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  6. VC investicija Commercial bank Loan • EXIT • IPO • M&A • MBO Venture Capital Fund Company Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  7. Examples What is BICRO doing? Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  8. BICRO Ltd. Vision • BICRO is the key organization within the national innovation system whose basic role is development and implementation of government support programs aimed at strengthening technology development as the main generator of sustainable economic growth • Successful and efficient support to technological development and commercial use of research outputs by creating financial, material and other conditions for existing and newly established companies in order to increase their competitiveness or facilitate introduction of new products or services to the market. Mission Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  9. Programs • RAZUMthe program ensures initial funding of newly established knowledge-based companiesand research and development of new products and services in existing companies • TEHCROthe program supports development of technology infrastructure • VENCROthe program supports establishment of venture capital funds • IRCROthe program stimulates cooperation between the industry and various research institutions • KONCROthe program ensures easier access to technological know-how and management skills Demand for Venture Capital Demand for Venture Capital Supply of Venture Capital Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  10. Program VENCRO • using BICRO Government of Croatia will invest 4,5 M€ in one venture capital fund • the fund will be managed by a private sector management company selected through a public callfor proposals (NN 13/07) • the goal is to raise at least 10,5 M€ from institutional investors achieving a minimum acceptable size of 15 M€ • 30% of the fund is reserved for investments in the technology sector Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  11. Conclusion At a time when developing countries are increasingly losing manufacturing jobs to low wage countries, and when low wage countries seek industries that depend on more than just cheap labor, creating a venture capital market has become the holy grail of economic development. Ronald J. Gilson (2002) Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

  12. Thank you Business Innovation Center of Croatia - BICRO www.bicro.hr razum@bicro.hr tehcro@bicro.hr vencro@bicro.hr ircro@bicro.hr koncro@bicro.hr Training workshop: Stimulating Croatia's Entrepreneurial Activities and Technology Transfer in Education, Split

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