Post on 14-Apr-2017
Funding for Innovation for Creative Enterprises
11 September 2015
Welcome
Jenni YoungMarketing and Centre DirectorDigital Catapult
#createinnovfund
Introduction
Patrick Towell, Chief ExecutiveGolant Media Ventures
#createinnovfund
Who we are
An innovation agency for creative, cultural and digital sectors
• Coaching & mentoring • Training & development• Advice & support • Commercial & public benefit• Funding • Business models • Intellectual property• Service & experience design • Data exploitation• Organisational change • Content distribution
#createinnovfund
Who we work for, with, funded by
http://www.golantmediaventures.com/projects
Agenda9.30 Welcome – Jenni Young (Digital Catapult)9.40 Introduction – Patrick Towell (GMV)9.55 Innovation and IP in the UK economy – Rosa Wilkinson (The IPO)10.20 Growth Accelerator: Business Growth and Access to Finance – Aziz Rahman (Grant Thornton)10:35 Growth Accelerator: Growth Through Innovation – Patrick Towell (GMV)10:50 Coffee break11.00 Creative KTN – Mitra Memarzia (Creative KTN)11.15 Horizon 2020 – Callum Lee (BOP Consulting)11.30 R&D tax credits – Patrick Towell 11.45 Introduction to working session – Patrick Towell 11.55 Working session 12.40 Feedback from working session12.55 Case study: Cinegi – Mandy Berry1.10 Case study: Mint Digital – Tim Morgan
Funding landscape
• UK & EU• Public & private• Equity, debt, crowd, P2P…• Understand media/creative/entertainment or…
#createinnovfund
What innovation funding needs• Compelling market opportunity
– Market dynamics, focus, segmentation– Sizing, growth justification– Competitor analysis and positioning
• Clear portfolio of products, services, content, experiences…• Identifiable and defensible IP (and other intangibles)• Business models
– Revenue models, pricing, profitability– Delivery models, partnering, costs– Channel/distribution strategy
#createinnovfund
Rosa Wilkinson, Innovation DirectorIntellectual Property Office
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Aziz RahmanOn behalf of GrowthAccelerator Now part of the Business Growth Service
#createinnovfund
Introducing the Business Growth Service
Name: Aziz RahmanJob Title: Business Growth Manager
Email: azizur.rahman@uk.gt.comMobile: 07500882027
What is the Business Growth Service?
Business Growth Service
Measures of Success
GrowthAccelerator KPIs
• £2.8 billion GVA (£108k GVA per participant)
• 70,000 new jobs (2.7 new jobs per participant)
• Target to recruit 26,000 participants nationally
• £200 million of finance to be raised
How will the Business Growth Service be measured?
• Realised Gross Value Add (GVA) • Realised Job Creation• Forecast GVA and Jobs• Participant Satisfaction across
every aspect of the participant journey
• Stakeholder Recommendation
Business Eligibility & Suitability
SMEs< 250 employees
Max balance sheet 43m Euro(includes group assets)
Any sector
Any age
Registered in England
EligibilitySuitability
Ambition, Capacity andOpportunityto grow
How does it work?
Access to Finance
• Bespoke support through the finance raising process• Access to specialist finance coach to support investment readiness• Assistance with funding options including debt and/or equity funding• Introduction to appropriate funders • Access to GrowthAccelerator's Investor Relations team
Complemented by a series of up to three full day Finance specific Masterclasses
Business Development
• Business planning• Strategic planning• Marketing strategy• Organisational change• Improving performance and efficiencies• Recruitment and people management
Complemented by a number of free workshops
Growth Through Innovation
• New product/service development• Increase competitiveness • Research and development grant funding application support• Patents
Complemented by a number of full day masterclasses
Leadership & Management – all service streams
Up to £2k grant per eligible senior manager
• Self select training for business leaders to improve skills, knowledge & expertise,
• Match funding – company must contribute 50% towards the costs,• Statutory/operational training not eligible - must be focused on
improving leadership and management skills,• Training must be for senior management that are directly involved in
the strategic direction of the business.
Participant Feedback so far
98% report that they are on track to achieve the key milestones set out in their action plan
97% believe that GrowthAccelerator has been 'important' in increasing their ability to achieve these milestones
Understanding of your business
Business experience
Technical Skills
Credibility
91.2%
94.2%
90.2%
95.3%
Participant Satisfaction with Coach Qualities
What is your investment?
Total package of support valued at £3,500 + VATIncludes coaching, GROWTHMapper, access to Leadership & Management training grants, Workshops or Masterclasses and Growth Community
To access the service, you pay:Employees (FTE) Cost to join + VAT *
1- 4 £600 (you receive a subsidy of £2,900) £700
5 - 49 £1,500 (you receive a subsidy of £2,000) £700
50 - 249 £3,000 (you receive a subsidy of £500) £700* VAT calculated against total package of support cost
ThanksName: Aziz RahmanJob Title: Business Growth Manager
Email: azizur.rahman@uk.gt.com
Mobile: 07500882027
What is ‘Growth Through Innovation?
#createinnovfund
Slides used by permission ofYvonne Grady
Growth through innovation journey….
• Customised innovation coaching assignment• Innovation masterclasses• Leadership & Management development funding• Access to funded £3k IP Audit• Bespoke ‘design mentoring’ • Design workshop and masterclass
#createinnovfund
Customised Innovation Coaching
Bespoke ‘Scope of Innovative Support’ for the Company, including deliverables, timescales, roles and responsibilities
• Transfers skills and knowledge from the coach into the company – in order to change behaviours and improve company performance. Safe pair of hands
• Focus on:• Developing and commercialising innovation• Creating and building a culture of innovation• Building organisational capacity for innovation
Innovation Masterclasses
1. Creating Competitive Products & Services2. Understanding unmet Customer Needs3. How to Generate New Ideas4. Collaboration & Partnering for Innovation5. Developing an Innovative Organisation6. Understanding, Protecting & Exploiting my IP7. Finding & Winning Grants for Innovation
Growth Accelerator Customers can access up to two Masterclasses per Company
Intellectual Property Audit
• Accessed only via ‘Growth Through Innovation’• Objective – SME to gain a clear picture of their intellectual
property assets• Evidence that IP strategy and audit would add value to
growth ambitions of the business• £3000 IP audit with small contribution from business £400• Carried out by IP Attorney or Practitioner – client choice• IP audits - monthly competition
#createinnovfund
IP Audit ReportIncludes action points for how to best leverage value out of and how to manage IP and is tailored to the specific needs of the business/project. Audit covers some of the following;• Patents - identify pending applications, granted patents, potential patentable technology
and potential patent infringements • Trade Marks - identify registered and unregistered trade marks, searching procedures
prior to introduction of trade mark• Designs - identify registered and unregistered rights, possible protection through Design
Right/Community Design Right, possible infringements• Copyright – identify copyright (databases, websites, photography, film
marketing/promotional material) and ownership/assignment of copyright • IP Management - to include confidentiality (or non-disclosure) agreements, trade
secrets, technical know-how, employee agreements and dissemination of IP policy throughout the company#createinnovfund
Design Mentoring Offer…
• Accessed only via ‘Growth Through Innovation’• Bespoke design coaching for SMEs• Design mentoring supports the transfer of skills and
knowledge e.g. project management, outsourcing, project brief/specification (key SME weakness)
• 50% grant funded support for ‘Design Coach’ not implementation
• Grants range from £800 minimum to £3000 maximum
Design Mentoring/Coaching
• Experienced Coach facilitating transfer of knowledge/skills to support SMEs with; Branding designProduct designProcess designService design
• Access to design workshop and masterclass
#createinnovfund
How do we support SMEs?
Setting a plan for growth and developing scalable innovative solutions Identifying new market opportunities/new routes to market Developing competitive products/services Understanding customers needs Identifying IP and understanding how to protect it Developing leadership capability, building a future team, attracting and
retaining talent… Design Mentoring Developing the organisational culture
Why innovation is important to growth….
New product/process/service development Attraction and retention of new customers Standing out from the competition Using design as a strategic tool is powerful differentiator Improving quality Reducing costs Conserving the environment
#createinnovfund
ktn-uk.org @KTNUK
Dr. Mitra Memarzia @mitra_m 11 Sep 2015
Golant Media Ventures: Funding for Innovation for Creative EnterprisesThe Knowledge Transfer Network
Introducing
What we do— KTN is the UK’s innovation network. It brings together businesses, entrepreneurs, academics and funders to develop new products, processes and services— We help business to grow the economy and improve people’s lives by capturing maximum value from innovative ideas, scientific research and creativity
The Knowledge Transfer Network
ktn-uk.org @KTNUK @KTN_Creative
The Knowledge Transfer Network
Connecting people to accelerate innovation
InterdisciplinaryBringing together businesses and researchers from different sectors.
CommercialIntroducing innovators to public and private funders and investors.
StrategicConnecting people who wouldn’t usually meet to solve innovation challenges.
EntrepreneurialLinking people with new ideas and technologies to partners and customers.
ktn-uk.org @KTNUK
Clustered communities, groups and business programmes
Focus is on bringing together groups that would not normally meet
ktn-uk.org @KTNUK
MaterialsChemistryEnvironmental Services
Agri-FoodBiosciencesHealth
ICTElectronics, Sensors & PhototonicsDefence & SecuritySpace
Built EnvironmentTransportEnergy
Creative IndustriesDigital EconomyDesign
Sustainability, H2020, International, Access to Finance, Design
Thought leadership + reports + resources
GMV's report for the KTN on innovation through co-design and data in the creative industries:
http://golantmediaventures.com/projects/innovation-from-co-design-and-data-in-the-uks-creative-industries
Creative Industries Strategy:
https://connect.innovateuk.org/web/creativektn/article-view/-/blogs/video-creative-futures-innovation-and-growth
https://connect.innovateuk.org/web/creativektn/resourcesKTN H2020 guidebook:
Brokerage events: Horizon 2020
Series of KTN brokerage and networking eventsNovember 2015
London, Brighton, Manchester, Cardiff
Join the Linkedin group:
http://www.linkedin.com/groups?about=&gid=3233422&trk=groups%2Fhome-h-share
Clustered communities, groups and business programmes
ktn-uk.org @KTNUK
Business programmes— Sustainability— Design— Horizon 2020— International— Access to funding & finance
National and local
ktn-uk.org @KTNUK
THEMATIC RESPONSIVE
THEMATIC COMPETITIONS
• Collaborative Research & Development (CR&D)• Feasibility Study• Innovation Contests• Launchpad• Small Business Research Initiative (SBRI)• Knowledge Transfer Partnerships (KTP)
RESPONSIVE COMPETITIONS
INNOVATION VOUCHERS- Designed to help businesses gain the knowledge they need to
innovate and grow.- An Innovation Voucher can help your business to work with an external
expert for the first time by paying towards the cost of their services. - £5k for SMEs to work with ‘Knowledge suppliers’ to help their
businesses address a real challenge, not just a small improvement or change to what they currently do.
- 4 rounds of funding every 3 months. Over 100 vouchers are issued each round.
RESPONSIVE COMPETITIONS
SMART GRANTS• Proof of Market
- This grant enables companies to assess commercial viability.- Max. Grant £25k. Up to 6 months. 60% of total project costs
• Proof of Concept- A grant to explore technical feasibility .- Max. Grant £100k. Up to 18 months. 60% of total project costs
• Development of Prototype- To develop a technologically innovative product or service. - Max. Grant £250k. Up to 2 yrs months. - 35% of total project costs (Medium), 45% for small & micro.
Digital Innovation Contest: TV & Film – Rovi Corp Winner: Portal Entertainment
http://www.portalentertainment.co.uk/
Digital Innovation Contest: Fashion – HolitionWinner: The Unseen
http://seetheunseen.co.uk/
Digital Innovation Contest: Clinical Excellence – BupaWinner: Genix
http://www.geneix.com/
Current Open Creative & Digital Competitions
Register for our Bi-weekly Newsletter
http://www.ktn-uk.co.uk/subscribe-2/
http://www.slideshare.net/KnowledgeTransferNetwork/creative-digital-design-business-briefing-september-2015
+ Monthly Slideshare
Monthly Business Drop-in sessions
16 Sept Digital Catapult Centre, London:
17 Sept, Tech Hub, Swansea: ow.ly/RKIt6
ow.ly/QvKXP
Thank you
Callum LeeDirector, BOP Consulting
#createinnovfund
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Funding for innovation for creative enterprisesOpportunities in Horizon 2020
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Context
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Musikalsk -MEDEA @ Malmo University
New ways to experience classical music
Horizon 2020
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Waag Society, Brunel University, Stromatolite
Connecting ICT and Art
Horizon 2020
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The four types of “action” in Horizon 2020
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Some calls of relevance – Leadership in Emerging Technologies
Call Aims Likely contribution
ICT20 – 2017: Tools for smart digital content in the creative industries
To maximise the potential for re-use and re-purposing of all types of digital content
EUR 0.5 – 1m
ICT21 – 2016: Support technology transfer to the creative industries
Support creative industries SMEs in leveraging emerging ICT technologies for the development of innovative products, tools, applications and services with high commercial potential.
EUR 2m
ICT22 – 2016: Technologies for Learning and Skills
Innovation in digital learning EUR 2m
ICT19 – 2017: Media and content convergence
Make the best use of technology for reaching out to new audiences, adapting to the digital era and thriving in the connected Digital Single Market
EUR 2 – 4m
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More calls of relevance – Societal Challenges
Theme Likely areas of interest
Europe in a changing world - Inclusive, innovative and reflective societies
ICT-enabled public sector innovation
Digital cultural Heritage
Dynamic urban futures
CO-CREATION-2016/2017-6: Understanding co-creation in the public sector
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EUR 50k6 months
EUR 1 – 2.5m1 – 2 years
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FP7 Winning proposals (2007 – 13)
Your chances
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Find me at callum@bop.co.uk
@callumlee
Patrick Towell, Chief ExecutiveGolant Media Ventures
#createinnovfund
R&D tax credits
Have you ever…
• Solved complex technical or scientific challenges even though at the beginning you weren’t certain how?
• Dealt with unexpected problems along the way?
• Spent more time and money on it than you intended?
• Needed to put in more effort and money to exploit what you learnt and get a return on investment?
#createinnovfund
R&D tax credits
What do you need to do?
• Have activities that are liable to corporation tax
• Work out which costs you can legitimately claim – what HMRC will consider ‘proper’ R&D
• Have your accountant submit each R&D tax claim as part of an annual return
• Consider consulting lawyers if you have had other public funds or aid, such as SEIS or Innovate UK funding.
Working session
• Type of enterprise– Film/TV production– Digital production (games/TV/mobile)– Publishing (books/mags)– Major arts, culture, heritage– Smaller arts, culture, heritage– Ad/marketing agency– Food, fashion, or design– Public body
• Target demographic– Children– Young people– Middle age– Older people
• Market– UK– International
• Type of content/data/technology• Revenue model• Current revenue• Stage of growth
– Concept– Prototype– Early stage– Growth– Expansion
• Funding already acquired
Mandy BerryChief Executive, CinegiFounder Director, Golant Media Ventures
#createinnovfund
DIGITAL FILM DISTRIBUTION SERVICEANY VENUE CAN BE A ‘CINEMA’MANDY BERRY, CHIEF EXECUTIVE
HOW IT WORKS• Filmed media rights management
• Secure distribution
• Web-based platform and desktop app
• Download over public internet using standard broadband
• No proprietary kit
• Screening in full HD
…“as easy as home entertainment”
77
Film societies Village halls Arts centres
Pubs/hotels
Touring circuits Theatres Independent cinemas
Colleges Community centres
VENUES AND PROMOTERS OF ALL KINDS …AND MORE!
WorkplacesTourist attractionsHigh street pop-upsFestivalsOutdoor public spacesSports & leisure venuesSocial clubs, church halls
VENUES/PROMOTERS
CINEGI PLATFORM – B2B WEBSITE
Catalogue – packaging, programming & booking
Paperless box office & admissions reporting
CINEGI PLATFORM – CINEGI PLAYER
Download Manager
In-venue Playout
• As easy to use as a catch-upTV service
• No special training required
CINEGI IPE-
Busi
ness
Secu
re d
igita
l
deliv
ery
BrandIP
Web application design &
software
IP
CatalogueIP
Customer
database
IP
Media, metadata
& collateral
IP
Player design
& software
IP
DEVELOPMENT & FUNDING JOURNEY
Public funding & corporate support 2011-12
VC Investment 2014
- Research into audiences and alternative venues
- Business modelling for alternative content
Public funding 2013
- Gap finance
- Market analysis, product strategy, business planning
- Management & administration resources
- Platform & player built
- Team in place
- Initial content secured
- Private beta in South West
- Funding from public funders and commercial partners
(no equity/rights taken)
- Proof of concept – created technical, commercial &
legal blueprintInnovation support all stages 2010-14
Digital R&D Fund for the Arts
• Keep it simple
• Be open
• Partnerships
• Leverage your funding
• Tenacity83
KEY SUCCESS FACTORS
Tim MorganCEO, Mint DigitalCreative Europe Desk UK
#createinnovfund
Mint DigitalThe Funding Journey
One : About Mint
Two : The Funding Journey
Four : What didn’t work
Three : What worked
Five : Lessons Learned
OneAbout Mint
• Tesco• Goldman Sachs • Channel 4• Benetton• Agatha Christie• Ipsos Mori• Speedo• BBC• About 100 others!• Fox
• About 100 others!
• Sticky9• Boomf• DeskBeers• The Bathory• deskcamping• Projecteo• Picklive• TubeSocks• About 30 others!
Client Services Ventures
Crystallise learnings and insights
Synthesis
Meet users, show ideas, experiment
Immersion1 Cycle
Create ideas and prototype them
Design/Build
Make a simple, seamless experience that people love, use and share
Digital Product Development
TwoThe Funding Journey
Putting food on the table
Digital Product Development
PROJECTEO
Mini Instagram projector. $18,000 goal, $87,000 hit on Kickstarter.
http://www.getprojecteo.com
MintDigital Product Development Studio
Sold to Sports Millions June 2012
Techcrunch Europas: Highly Commended
Sold to PhotoBox June 2013
Webby Honoree
ThreeWhat worked
PROJECTEO
Mini Instagram projector. $18,000 goal, $87,000 hit on Kickstarter.
http://www.getprojecteo.com
FourWhat didn’t work
PROJECTEO
Mini Instagram projector. $18,000 goal, $87,000 hit on Kickstarter.
http://www.getprojecteo.com
FiveLessons learned
• Funding is not a business goal in itself.• You need room to make mistakes.• Great propositions get funded.• Crowdfunding is great but there are caveats.• Successful funding is a combination of great
concepts, proofs and hard work.• It is fair.
Lessons learned
• “If a man can write a better book, preach a better sermon, or make a better mousetrap than his neighbor, though he build his house in the woods, the world will make a beaten path to his door.” Ralph Waldo Emerson
Get in touch!Building resilience and agility
• Innovation and realising opportunities from digital• Making new revenues, reaching new customers• Distribution strategy and organisational change
Designing new products and services• Realising the full value of content & data• Devising new entertainment, cultural & information propositions• Developing creative, technical and business solutions
Getting value from data• Making data a strategic asset• Using data to realise your creative and commercial ambitions
Public funding and private financing• Securing funding from a mix of funders• Being investment ready – proposition & business modelPatrick Towell patrick.towell@golantmediaventures
www.golantmediaventures.com @golantmedia
Thank you for attending!