Project TESLA Kick-off Meeting Pilot Actions 9, 10 and 11

1. Project TESLAKick-off MeetingPilot Actions 9, 10 and 11 Diogo Pereira Dias Nunes, LL.M.

2. Pilot Action 9: Entrepreneurial Finance

3. The VC Cycle, Entrepreneurship & Innovation Early Stage Funding Gap • Why? • Information Asymmetries • Risk Aversion • Financial Crisis • Lack of Entrepreneurial Infrastructure (absence of trusted networks, etc.) Source: Janke Dittmer & Erik P.M. Vermeulen, The "New" Venture Capital Cycle: From Venturing to Partnering, (forthcoming 2012).

4. From the Triple Helix to the Quadruple Helix Triple Helix Quadruple Helix Risk Capital Providers (Venture Capital)

5. The Entrepreneurial Road Show Days TRUST & CERTIFICATION TRUST & CERTIFICATION Tilburg University Selection, invitation and provision of advice on legal and business aspects of VC finance Selection and invitation Organization Attendance of the BP presentations HPSUs Presentation of BPs Risk Capital Providers Entrepreneurial Road Show Days TRANSNATIONAL NETWORK – TRUST & REPUTATION Risk Capital Providers: provision of feedback towards HPSUs; if applicable, manifestation of interest in investing. HPSUs: networking with Risk Capital Providers and receipt of feedback on the presentations’ success; if applicable, furthering contacts and negotiations for investment.

6. Expected outcome for the Innovation Ecosystem Before… After! Unlevel Informational Playing Field Leveled Informational Playing Field

7. What do we need to get started! The Checklist for this PA: • Assess the possible sources of HPSUs and RCPs within CIT and Tilburg’s regions. • Determine the selection procedure for both HPSUs and RCPs. • Agree on the division of responsibilities as to the legal and business advice: e.g., CIT  business side; Tilburg  legal side. • Define the contents of the legal and business advice that will be delivered to the HPSUs. • Establish provisional dates for the realization of the two Entrepreneurial Road Show Days (ERSD) events to be held. • Determine a marketing and divulgation strategy within both CIT and Tilburg’s regions. • Agree on the communications methods to be used on a regular basis between CIT and Tilburg. • In the interim, start making invitations and increasing the awareness of this PA’s targets in both CIT and Tilburg’s regions.

8. Starting and Closing Dates • Starting date: January 2013 • Closing date: June 2014

9. Pilot Action 10: Public Procurement for Knowledge-Intensive SMEs

10. Where do Govts. come in the VC Cycle? Governments Investment in the Very Early and Early Stages of Innovative HPSUs’ Life Cycle Source: Janke Dittmer & Erik P.M. Vermeulen, The "New" Venture Capital Cycle: From Venturing to Partnering, (forthcoming 2012).

11. The Role of the Govt. in the Quadruple Helix • Government Venture Capital (GVC) • Governmental Grants/Subsidies and Loans • Government’s own R&D Projects and Expenditures – e.g. Silicon Valley (USA) and Silicon Wadi (Israel) • Public Procurement Procedures – providing a source of income to innovative startups Risk Capital Providers (Venture Capital)

12. Public Procurement (PP) Awareness Days Schematic representation: Tilburg University Selection, invitation and provision of workshops on PP and the “tender surgeries” Selection and invitation Organization HPSUs Govt. Institutions PP Awareness Days Attendance of presentations, workshops and “tender surgeries” Presentation of current or future calls for PP tenders HPSUs submit tenders for calls for PP tenders

13. The “Tender Surgeries” Process First Phase: Second Phase: Tilburg Univ. & Bangor Univ. Tilburg Univ. & Bangor Univ. PP Awareness Days: provision of workshops on PP tenders Together with HPSU, analyses the submitted tender and its results Provides advice to HPSU for improvements in future PP tenders HPSUs HPSUs HPSUs attend presentations and submit tenders to Govt. Institutions PP Awareness Days: Govt. presents current PP tender calls Communicates results of the PP tender to tendering HPSUs Govt. Institutions Govt. Institutions

14. What do we need to get started! The Checklist for this PA: • Assess the possible sources of HPSUs and Govt. Institutions within Bangor and Tilburg’s regions. • Determine the selection procedure for both HPSUs and Govt. Institutions. • Agree on the division of responsibilities for this PA: e.g., materials and contents  Bangor; facilities and intermediation  Tilburg. • Define the contents and materials of the workshops/training sessions that will be delivered to the HPSUs. • Define the contents and materials of the “tender surgeries” that will be delivered to the HPSUs. • Establish provisional dates for the realization of the two Public Procurement Awareness Days (PPAD) events to be held. • Determine a marketing and divulgation strategy within both Bangor and Tilburg’s regions. • Agree on the communications methods to be used on a regular basis between Bangor and Tilburg. • In the interim, start making invitations and increasing the awareness of this PA’s targets in both Bangor and Tilburg’s regions.

15. Starting and Closing Dates • Starting date: January 2013 • Closing date: November 2014

16. Pilot Action 11: Code of Best Practices

17. The Code of Best Practices Schematic representation: All PAs of Project TESLA (1 to 10) Provision by each PA’s responsible partner of an report including all relevant data acquired Tilburg University Analysis of reported data, compilation of the best practices and making of policy recommendations. Code of Best Practices

18. The Code of Best Practices Connecting the dots: reflection on and gathering of the lessons learned! • Compiling and determining what are the best practices to create a vibrant transnational ecosystem for HPSUs. • Making policy recommendations for lawmakers and policymakers in the EU and/or NWE region, in order to improve the conditions of the ecosystem. The Objective:

19. What do we need to get started! The Checklist for this PA: • Define the contents of the template for the report on the data collected from all the PAs; • Establish guidelines on how to compile and process the collected data into the report template; • Agree on a schedule for the elaboration and sending of the completed reports on each PA to Tilburg. • Agree on a schedule for the sending of comments/input on the first draft version of the Code. • Assess and agree on an independent third party to provide benchmarking to the final revised version of the Code of Best Practices. • Define amount of copies to be printed and the distribution methods of the Code of Best Practices • Determine the key stakeholders to whom the Code should be sent. • Define a communication strategy between Tilburg and each of the PA’s responsible partners.

20. Starting and Closing Dates • Starting date: July 2014 • Closing date: February 2015

21. An Important Side Note to all TESLAers! For more information, please check out our website: http://www.tilburguniversity.edu/about-tilburg-university/schools/law/departments/businesslaw/symposia/june2012/

22. Thank you! Questions/doubts? D.A. Pereira Dias Nunes, LL.M. d.a.pereiradiasnunes@uvt.nl