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PAXIS Workshop Salamanca, 23 June 2005

PAXIS Workshop Salamanca, 23 June 2005. INDEX. CDTI Overview NEOTEC Mission and phases/instruments NEOTEC Evaluation methodology NEOTEC Results from 2002-2004. CDTI Presentation. Established 1977. Public business organization of the Spanish Ministry of Industry, Tourism and Trade.

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PAXIS Workshop Salamanca, 23 June 2005

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  1. PAXIS Workshop Salamanca, 23 June 2005

  2. INDEX • CDTI Overview • NEOTEC Mission and phases/instruments • NEOTEC Evaluation methodology • NEOTEC Results from 2002-2004

  3. CDTI Presentation • Established 1977. • Public business organization of the Spanish Ministry of Industry, Tourism and Trade. • Mission: to help raise the technological level of the Spanish enterprises by: • Financing R&D projects. • Managing and fostering the participation of Spanish enterprises in international cooperation technology programmes. • Supporting technology transfer within the industrial sector.

  4. CDTI´s Operational Framework • DOMESTIC: Manage, evaluate and finance R&D&I business projects, foster the creation and consolidation of technology based enterprises. • INTERNATIONAL: Manage international technology cooperation programmes and support technology transfer. 1.300 M€ managed for R&D&I in 2005 2.130 M€ of raised capital for R&D&I in 2005

  5. Initiative NEOTEC : Mission “To develop a real and virtual infrastructure (network) to facilitate the generation and consolidation of new technology based firms (NTBFs) mainly take-out from R&D results of Spanish Universities and R&D Centres ”

  6. Initiative NEOTEC : Phases and Instruments Innovative Idea Enterprise Generation 1st Round investment To training potential entrepreneurs NEOTEC Projects “enterprise creation” Venture Capital Mechanisms of generation&evaluation of technology entrepreneurial projects Training & Consultancy Loans ”seed” to set-up & develops the company Fund of Funds (In study) Loans to Venture Capital Firms Evaluation by Technology Rating Tool NEOTEC Virtual Community(Red Neotec) Diffusion and Promotion Services

  7. First Assistance (“Entrepreneurial Idea” Phase) Support to the generation of technology based projects • To establish mechanisms to help researchers/technologists during the process of new technology based firms generation. To foster multidisciplinary teams. • To evaluate the technological entrepreneurial idea: innovation, industrial application, market potential, team, intellectual and industrial property rights. • ¤ The best teams will be trained to develop a real business plan. • To foster agreements with universities, business schools, network of mentors, venture capital, business angels, to help the best potential entrepreneurs teams. • ¤ Starting to sign agreements with several organizations to build the network services. • Ideally all the services will be located near to the entrepreneur. • During the process of building all the networked services CDTI will help all potential technological entrepreneurs by its own means. • ¤ Unit CDTI-NEOTEC

  8. “Enterprise creation” Phase NEOTEC Project • First day financing ( seed). Up to first round financing through venture capital. • No interest, up to 400.000 Euros loan. The entrepreneur must support at least 30% of the budget. • Payment in two milestones: 1st. Milestone when signing of contract (up to 60%) and 2nd. milestone (remaining amount). • Repayment : pay-back when positive cash-flow is generated. Up to 20% of this cash-flow will be established as annual quota. • No financial guarantees required. THE ONLY GUARANTEE IS THE PROJECT. • Commercial and technological interest will be the key elements in project assessment. • Agreements with seed capital funds will be favoured to support common projects.

  9. “Venture Capital” Phase Venture Capital Company Support • New Spanish Venture Capital Programme ( To be implemented by end of 2005). To set-up a Fund of Funds instrument through a partnership of private-public organizations ( CDTI, EIF, Big Spanish players in industry, finance, etc). To foster the investmentof Spanish venture capital industry in the field of technology companies. • Venture capital entities that invest in innovative technology based firms.

  10. Evaluation methodology: Technology Rating (Techrate ) • European methodology developed by several entities of 5 countries. • Modular project evaluation that enables comparisons between sectors, technologies and countries. • New technology based company project data base will be created. • Three evaluation levels: • Technology based company idea. • NEOTEC projects. • Companies for venture capital investment.

  11. Evaluation criteria (Techrate )Marketing Module • The Marketing module has 7 key factors : • MK1 : value creation • MK2 : market potential and attractiveness • MK3 : market segmentation and entry strategy • MK4 : competitive analysis • MK5 : distribution and sales system • MK6 : market communication • MK7 : marketing and sales project management

  12. Evaluation criteria (Techrate )Management Module • The Management module has 6 key factors : • MG1 : skills and competences of management team • MG2 : networking capacities • MG3 : personal motivation • MG4 : anticipation and reaction to change • MG5 : potential for international development • MG6 : leadership potential

  13. Evaluation criteria (Techrate )Technology/Product Module The Technology module has 7 key factors : • TE1 : technological challenge • TE2 : competitive advantage of the technology • TE3 : technological diversification • TE4 : R&D strategy • TE5 : protection of technology • TE6 : manufacturing capacities • TE7 : R&D project management

  14. Evaluation criteria (Techrate )Financial Module The Financial module has 4 key factors : • FI1 : Financial capabilities and competence of the company • FI2 : Financial history of the company • FI3 : Financial projections • FI4 : Funding

  15. NEOTEC Network Is an open and multidisciplinary network • Neotec Website for all agents interested in the generation and development of new technology based firms. • Co-operation with the private and public entities related with this activities. • Dissemination and promotion services ( promotion campaign, venture capital fora, company exhibitor, seminars, workshops, training courses, etc.) • Experience exchange with other countries. • Promotion of agreements with seed capital funds for jointly support of technology projects.

  16. 200220032004 Number of projects 31 35 38 CDTI loans 8,58 M€ 9,47 M€ 10,98 M€ Total budget 18,70 M€ 22,50 M€ 26,49 M€ 45,8 % 42,0 % 41,4 % NEOTEC Approved ProjectsCDTI contribution/ Total budget 2002-2004

  17. NEOTEC Approved ProjectsType of Spin-off (2002-2004)

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