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Integrated Innovation Support Programme

Integrated Innovation Support Programme. Encouraging the Serbian VC industry Robert Sheffrin - 14 th May 2013. Current Situation – “Serbian Dawn”. Private equity & venture capital activity Increasing international & local investor interest

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Integrated Innovation Support Programme

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  1. Integrated Innovation Support Programme Encouraging the Serbian VC industry Robert Sheffrin - 14th May 2013

  2. Current Situation – “Serbian Dawn” • Private equity & venture capital activity • Increasing international & local investor interest • Barriers to investment & potential solutions identified • Pro-active private sector– SPEA, SBAN, BVF • Public Sector initiatives: - WB EDIF / EBRD BAS - IISP: EU programme to develop venture capital - Min of Finance & Economy driving regulatory change Integrated Innovation Support Programme (IISP)

  3. EU IISP Project Component 2: Development of New Financial Instruments • Research, report & recommend VC best practice • Develop regulatory & funding mechanisms • Develop & launch investment readiness training • Develop an innovation voucher scheme Integrated Innovation Support Programme (IISP)

  4. IISP - Research & Reports Tax & regulatory Barriers to investment EU Bench -marking Strategic Options for Serbia Financial intermediaries Mezzanine finance Integrated Innovation Support Programme (IISP)

  5. Serbia - Key Regulatory & Tax Recommendations Specific: • Regulate venture capital funds • Permit investment by Serbian institutions in venture capital • Facilitate exits from venture capital investments • Eliminate double taxation of investors • Tax breaks/incentives for investors General: • Tax incentives for SMEs • Fiscal consolidation & reform of para-fiscal charges ACTION - Regulatory Working Group formed Integrated Innovation Support Programme (IISP)

  6. IISP Investment Readiness Programme Remit: Investment readiness training for 100 SMEs Objectives: • Increased awareness • Investment ready SMEs • Proposals for WB EDIF funds; other VC funds; angels; Belgrade Venture Forum; banks Continuity: • 10+ investment readiness trainers trained • Legacy programme for on-going delivery Integrated Innovation Support Programme (IISP)

  7. Target Groups Phase 1: “Finance 4 Growth” – 100 SMEs • Programme: 2 day workshops • Any innovative, growth orientated SME requiring investment Phase 2: “Investment Accelerator” – 20 SMEs • 2 days additional training + follow on coaching • For SMEs with effective business strategies in place + • Need to focus on clarifying investment offer, preparing pitch, handling due diligence, investment negotiation Integrated Innovation Support Programme (IISP)

  8. Conclusion • A time of real change • Complementary EU initiatives • Public and private sectors have same goal • Expect gradual meaningful progress Integrated Innovation Support Programme (IISP)

  9. Thank you! Contact: Robert Sheffrin EU Integrated Innovation Support Programme for Serbia E. robert.sheffrin@iisp.rs / robert@sheffrin.co.uk T. +381 63 899 5821 / +44 772 071 5101 Integrated Innovation Support Programme (IISP)

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