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Innovative Wielkopolska

Poznań Science & Technology Park Centre for Innovation Promotion Contract N°IPS-2000-1037. Innovative Wielkopolska. Kick-off workshops on : Industry – Science Relation s Technology Transfer & Financing Innovation Interregional Collaboration with Partner Regions 14-15 November 2002 – Poznań.

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Innovative Wielkopolska

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  1. Poznań Science & Technology ParkCentre for Innovation Promotion Contract N°IPS-2000-1037 Innovative Wielkopolska Kick-off workshops on : Industry – Science Relations Technology Transfer & Financing Innovation Interregional Collaboration with Partner Regions 14-15 November 2002 – Poznań Presentation by Alasdair Reid Alasdair.Reid@ade.be The project is financedby European Commission within 5thFramework Programme for EuropeanResearch and Technological Development.

  2. Innovative Wielkopolska Analysing Regional Innovation Systems - Introduction

  3. Regional innovation systems • Narrow definition: • Science and Technology system only. • Broad definition’: • Including overall institutional set-up which affects innovation. • "all the actors and activities in the economy which are necessary for industrial and commercial innovation to take place and to lead to economic development". RIS Wielkopolska - ADE S.A.

  4. How to explain innovation performance ? • Need to identify 'bottlenecks' and gaps in 'regional innovation system': • Framework conditions (markets, finance, etc.); • R&D system; • Innovation intermediairies; • Capacities, incentives and competencies for enteprises to innovative; • Policy orientations & delivery mechanisms. RIS Wielkopolska - ADE S.A.

  5. Determinants of regional systems of innovation (RSI) Regional endowments Local endowments Social capital Network organiser Network alignment National determinants Privatisation R&D system Firm-specific factors Actors Linkages Competencies Sector specific determinants Technology Finance Markets (demand) RIS Wielkopolska - ADE S.A. Based on : Radosevic (2000)

  6. What should be aims of RIS "supply" analysis ? • Avoid carrying out 'one more' study • Should be a research-actiontype exercise.Building towards: • a strategic policy framework, • But also early development of pilot actions • Raising awareness on innovation as driver of growth • Involve various stakeholders from the region. • Strengthening 'innovation networks'. • Confront the findings with business opinions. • Develop pilot-actions: • keeping in mind practical requirements of future Structural Funds. RIS Wielkopolska - ADE S.A.

  7. Innovative Wielkopolska Technology Transfer & Financing innovation

  8. Technology transfer & financing innovation • Issues at stake/Key questions. • Typology of innovation support & financial mechanisms. • Innovation financing in the EU: good practices. • Creation and growth of innovative enterprises. RIS Wielkopolska - ADE S.A.

  9. Repertoire of policies for improving innovation capabilities Strategic capabilities: Business capability development Business & technology audits; mentoring Awareness programmes Feasibility assessments • Internal capabilities • product development aid • Public fund R&D programmmes • Manufacturing consultancy • Quality programmes • Placement of qualified personnel • -Training needs analysis • Technology management courses External capabilities (networking) Access external knowledge -Science parks, Technology centres R&D institutes, University liaison… Manage Producer/user relations Access partners RIS Wielkopolska - ADE S.A.

  10. Staircase for developing company capabilities Research services Public <- Funding -> Private Technological development Sector-specific development Basic capability development Capability development Proactive Mentoring RIS Wielkopolska - ADE S.A.

  11. Matching support to needs RIS Wielkopolska - ADE S.A.

  12. Different actors in innovation system and financing role Private Public Mission /objectives Government Ministries Higher Education University Funds Private Non-profit FDI firms Private firms Funding Research Councils/ Technology Agencies Public-private Partnerships Private consortia Role / Proximity Intermediation Government Laboratories Universities Research Institutes Intra-mural R&D (firms) Performance RIS Wielkopolska - ADE S.A.

  13. Issues at stake • Overall access to finance is still quoted as a major barrier for the start-up and growth of innovative companies: • More important constraint in candidate countries. • As a result of market-failures in the availability of funding for innovative but risky projects, seed capital facilities have been supported by policy measure. • A toolkit of financing mechanisms – but which ones are appropriate for less-developed regions? • What are possibilities emerging from EU/national level and what is role of regional actors/authorities ? RIS Wielkopolska - ADE S.A.

  14. Typology of existing financial mechanisms (I) • Direct Measures: • Grants are given to firms and public research institutions to carry out R&D and other innovative activities. • Direct equity investment is provided by public institutions directly into firms and is usually repayable after a period of between five and ten years. • Hard and soft loans for investments are available from public organisations and offer more favourable conditions than commercial loans. • Subsidies can be made available for capital goods investment and projects. RIS Wielkopolska - ADE S.A.

  15. Typology of existing financial mechanisms (II) • Indirect Measures: • Loans and equity guarantees for lenders and investors make investment more attractive for financiers. • Tax incentives are mainly used to stimulate R&D and innovation activities in firms and to encourage risky capital investments (For example, in Portugal the system of tax credits for R&D investments by firms was extended for the fiscal year 2001). • Subsidising the interest rates of commercial loans from financial institutions to firms. RIS Wielkopolska - ADE S.A.

  16. Typology of existing financial mechanisms (III) • Measures for enablers • Measures for investors (Tax relief for investors, equity investment in financial organisations. • Measures aimed at improving the financial environment (Creation of a professional infrastructure of investors, regulatory changes, including changes in the fiscal and legal environment; development of stock markets). • Intermediation measures (taken in relatively mature innovation financing markets. For example, in Wallonia (a region of Belgium), an annual Venture Capital Fair). RIS Wielkopolska - ADE S.A.

  17. Innovation financing in the EU: good practices • Germany uses a set of instruments to improve financing conditions for innovation. A very successful example is BTU (Venture Capital for small technology-based firms, 2001). Also, there is a possibility of low-interest loans to refinance VC providers who pass on this funding as VC to NTBFs. VC providers are partially released from their liability for the refinancing the loan (Refinancing Model). • Finland launches PreSeed Finance Initiative which aims to bridging the gap between start-up companies and VC financing market (2001). The objective is to encourage the birth and accelerate early stage growth of new technology based companies. RIS Wielkopolska - ADE S.A.

  18. Creation and growth of innovative enterprises • To overcome limited correspondence between supply and demand in funding of innovation. • To determine the national/regional capacity in financial support in regard to: • Support for R&D to single firms (direct measure). • Development of financial incentives to applied research activities which have impact on local productive system (indirect measures). • Creation of necessary conditions for providing funds to firms at favourable rates (facilitate mode of access to credit) involve public sector in VC (indirect measures). RIS Wielkopolska - ADE S.A.

  19. Building adequate methodology Tools and analysis: RIS experience

  20. Tools and analysis • First phase - should involve collection of existing studies on Wielkopolska ISR. • Second phase - application of well-tested approaches for supply analysis (questionnaires, interviews, workshops/peer review). • Third phase – validation of emerging results and begin 'brainstorming' on projects. • Using SMEs needs analysis as a tool for dialogue and strategy development. RIS Wielkopolska - ADE S.A.

  21. RISexperience & approaches adopted • SME needs analysis • should provide a bank of information about opportunities (not only mapping needs, but ideas for possible projects). • Establish clear synergies between business needs and support systems analysis (questions in surveys, interviews on supply side, etc.). • Analysis of supply: • Often less formal process than the demand-side analysis; • Some regions used technology foresight but requires already sophisticated system and 'social capital'. • Need to avoid desk "study" & no mandate to do full evaluation of structures; • Interview-based survey plus working groups on specific topics (participatory evaluation or self-assessment). RIS Wielkopolska - ADE S.A.

  22. Role & function Mission Tasks Position Capabilities Personnel Budget Legal structure Orientation Sectors Target groups Type of innovation Instruments Financing Stimulating Regulating Organisational analysis RIS Wielkopolska - ADE S.A.

  23. Output of organisational analysis • "Inventory" – boring, put on shelves and rarely used… • Portal (e.g. RIS Central Macedonia) • linked to observatory and monitoring system • used as part of regional 'marketing' and inter-regional co-operation building effort • Recommendations for filling gaps: • Identification of structures required at local level; • Absence of provision of support from national organisation… RIS Wielkopolska - ADE S.A.

  24. Policy gaps analysis • Need to compare (set) objectives at regional (national) level; • What are existing or required (on basis of needs analysis) instruments and delivery mechanisms • Matrix type analysis can yield clues as to consistency of policy framework RIS Wielkopolska - ADE S.A.

  25. Set of policy objectives • Support for R&D in single firms; • Promotion of risk capital and high-tech investment; • Improving absorptive capacity (competence of firms, innovation management); • R&D co-operation (firms-firms, firms-R&D community); • Infrastructure for high-tech starters; • Human mobility (secondment researchers to industry, etc.); • Exploitation of public knowledge (commercialisation of R&D, IPR support,…). RIS Wielkopolska - ADE S.A.

  26. Set of delivery mechanisms Classification of Structural Fund interventions: • Research projects based in universities and research institutes (grants); • Grants & loans (guarantees) to enterprises; • Innovation & technology transfer bridging institutions & networks; • RTDI infrastructure; • Training for researchers; • Shared business services (incubators); • Financial engineering (venture capital). RIS Wielkopolska - ADE S.A.

  27. "Gaps analysis" (Estonian case ADE, 2002) RIS Wielkopolska - ADE S.A.

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