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Transcript of Network for Regional SME Finance - FinNetSME ”Funding for technology and innovations” Dr. Martti...
Network for Regional SME Finance - FinNetSME
”Funding for technology and innovations”
Dr. Martti af HeurlinDeputy Director General [email protected]
Tekes,
Finnish Funding Agency for Technology and Innovation
Martti af Heurlin Tekes DM 233701
Network for Regional SME Finance – FinNetSME, Martti af Heurlin, Tekes
Main messages:
• High R&D-investments clear results
• Towards wider understanding of innovation
• Strengths of the Finnish approach
• Interactive public-private communication
• Foresight and strategy processes
• National technology programmes + Example
• Important background: confidential strategy discussions with companies
•Business sector R&D funding by Tekes
• Together with others like: Finnvera, TE-Centres, SITRA, Finnish Industry Investments Ltd, Finpro…
0,0
1,0
2,0
3,0
4,0
5,0
6,0
85 87 89 91 93 95 97 98 99 00 01 02 03 04 05
0.91.1
1.51.7 1.8
2.2
3.9
4.4
2.9
4.64.8
3.4
5.35.0
5.4
Est.
Source: Statistics Finland
R&D in Finland…and in Finland companies are ruling the game:
70% private - 30% public
DM 36100 and 3806511-2005 Copyright © Tekes
Billion euros6.0
5.0
4.0
3.0
2.0
1.0
0.0
EnterprisesUniversitiesOther public research
Share of corporate R&D activities fundedby the public sector … going down EU, USA and OECD… and very low in Finland – only half of the OECD and EU level
%
Source: OECD, Main Science and Technology Indicators
FranceNorwayUSAEU15OECDGreat BritainGermanySwedenNetherlandsCanadaFINLANDDenmarkIrelandJapan
0
5
10
15
20
25
90 91 92 93 94 95 96 97 98 99 00 01 02 03
Evaluation of the Finnish innovation environmentFinland´s ranking is mainly very high …
… high ranking in competitiveness scores boards gives basis for success - but is no guarantee
DM 3605411-2005 Copyright © Tekes
Switzerland, Finland and Sweden are the world’s most competitive economies according to The Global Competitiveness Report 2006-2007, released by the WEF on 26 September 2006.
IMD ranks Finland 10th in overall competitiveness in 2006 (6th 2005).
Based on the Lisbon Review, Finland was the most competitive country in the EU in 2004, followed by Denmark and Sweden.
Based on the comparison of the European Commission, Finland wasamong the leading countries in investing into knowledge-basedeconomy and performance of the economy.
Sources: WEF, The Global Competitiveness Report 2005-2006 and The Lisbon Review 2004; IMD, The WorldCompetitiveness Yearbook 2005; EU, Key Figures 2005 on Science, Technology and Innovation andThe European Innovation Scoreboard 2004; United Nations University, The Millennium Project 2001;
OECD, Program for International Student Assessment PISA 2003
Strengths of the Finnish innovation environment… giving firm basis for productivity development
1. Wide consensus in the Finnish innovation policy Over all political parties Industries and trade unions Private – public discussion
2. Good balance in innovation measures Goals: economy – environment – wellbeing Funding targets: basic – applied – industrial research – development Marriage of R&D investments and Venture Capital investments
3. Co-operation – networking – “Club Finland” Universities – enterprises Large companies – sme’s (strategic partnerships) National - regional – international networking Between actors in the innovation system …
… well balanced and dynamic public innovation service system
Very competitive environment in Finland.High investments in innovations in Finland.
Where are results ?
There are clear results:
The structure of industries has changed stronglytowards more knowledge intensive sectors (1980-2005)
Growth figures and productivity growth relatively good
High tech exports have grown Patenting is active
GDP per capita on fair levelUnemployment is going down
Wood products
Pulp, paper andpaper products
Basic metals andmetal products
Other goods
Electronics andelectrotechnicalproducts
Machines,machinery andvehicles
Chemicals andchemical products
Finnish exports of goods:The structure of industries has changed a lot 1960-2005:
Forest cluster ICT + Forest + Metal Clusters
% of total exports of goods
Source: National Board of Customs
15 15 159 12 13 13 8
11
9 6 13
11
31 27 27 25
18 18 17
15
78
9 9 10 13
42
4030
31
22 21 20 192716 15
8 6 5
6541
4
2
17
18
16
246
65
0 %
20 %
40 %
60 %
80 %
100 %
1960 1970 1980 1990 2000 2002 2003 2004
… the productivity development in high tech industries has been faster
Manufacturing productivity in industryFinland has reached the US-level
Source: University of Groningen
Value added per hour worked,USA = 100
Value added per hour worked,USA = 100
60
70
80
90
100
110
120
79 81 83 85 87 89 91 93 95 97 99 01
France
FINLAND
USA
Netherlands
Denmark
Germany
Sweden
Great Britain
DM 3610009-2006 Copyright © Tekes
Innovation environment in FinlandResources and funding
Active matching is very important – for customer – for impact
Pri
vate
Basic research Applied research Business R&D
Business developmentMarketingInternationalisation
R&Dat companies
3,770 (prel.)
The figures represent the total extent of each organisation in million euros in 2005, those markedwith star in 2004 or earlier. In parenthesis the share that is funded from the State budget.
** includes venture capital funds from the Finnish Industry Investment Ltd
BusinessAngels
approx. 380*
Pu
blic
Finnvera406 (40)
Universities1,040 (454)*
Academyof Finland219 (219)
Ministries,TE-Centres,
sectorial research312 (221)*
Tekes430 (430)
VTT225 (78)
From abroad169*
Innofin6 (5)
Finpro32 (20)
Venture capitalists:Private 268**
Finnish Industry Investment:direct 13, venture capital funds 42,
seed funding 11Sitra 29
Competitiveness,profitability and
growth
New businesses,start-ups
Impact of Tekes activities
Research institutesand universities
Enterprises
Societal and environmental
impacts
Projects and programmesInternational cooperation
TekesExpert services
and R&D fundingCoordination and funding of programmesActivation to R&DIn cooperation with other services
Renewal of industry and services, economic growth, productivity, good employment and societal well-being.Renewal of industry and services, economic growth,
productivity, good employment and societal well-being.
0
50
100
150
200
250
300
350
400
450
500
550
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
349386
316
252 244
386 395415
390 379
430460
Tekes funding in the state budget
Million euros
DM 26047 and 3806501-2006 Copyright © Tekes
National share of EU Structural FundsIndustrial R&D loansCapital loans for R&DIndustrial R&D grantsCoordination of programmesResearch funding
During the years 2000-2006 Tekes also had an annual allocation of around 10million euros from the EU Structural Funds as the EU share. The funding
resources for industrial R&D loans and capital loans for R&D merged in 2004.
For 2007
some 5%
growth
expected
2007
Networking in corporate R&D projects is very important:
SMEs – big companies – universities … nationally ..internationally… for higher targets in R&D and in business development
Share of networked projects, %
Almost all projects funded by Tekes in large companies and more than two thirdsof all R&D projects were networked in 2005. The figures include corporate R&D
projects, but not smaller feasibility studies. DM 58774, 38065 and 18063001-2006 Copyright © Tekes
0
20
40
60
80
2000 2001 2002 2003 2004 2005
Subcontractingfrom researchinstitutes
Large companysubcontractingfrom SMEs
Part oftechnologyprogramme
InternationalcooperationActive boosting
towards networking
Technology Development Departments at the TE-Centres
DM 2604701-2006 Copyright © Tekes
Technology Development Departments at the Employment and Economic Development Centres (TE-Centres) offer Tekes services to companies and research units as integral part of Tekes network
Technology Development Departments at the Employment and Economic Development Centres (TE-Centres) offer Tekes services to companies and research units as integral part of Tekes network
Lapland
Oulu
Kajaani
SeinäjokiKuopio
JyväskyläJoensuu
MikkeliTampere
PoriLappeenranta
Turku Tekes, Helsinki
Vaasa
Lahti
Tekes´ innovatio
n services support
development in all t
he country
Linking
national – international – regional
measures and environments
… utilising Tekes´ global network
Five offices located in the global technology
hot-spots in USA, Japan and China Brussels office linking EU and Finnish national R&D programmesPermanent staff of 12 technology expertsAdditional short term project personnel
Five international offices build international cooperation with Tekes´ technology programmes and strategy work
Five international offices build international cooperation with Tekes´ technology programmes and strategy work
Helsinki
TokyoBrusselsSan Jose
Washington, D.C.
Beijing
Shanghai
The sun never sets down in Tekes
Application focus areas Technology focus areas
Strategic areas of clusters Potential areas for new business
Tekes strategy focus areas
Process for strategy focus areas… active communication with industries
Market trends
Technology trends
Globalmegatrends
Values and goals of society
Researchorganisations,
universitiesCompanies
Ministry of Trade and Industry
Tekes vision, strategy and resources
Internationalforesight
EU, USA, China,Japan and other
countries
Internationalbusiness
environment
e.g. ETLAand Sitra
Regionalstrategies and
regionaltechnologystrategies
Academy ofFinland
Industryorganisations and
their strategies
Technology programmesand project funding
Strategy discussionswith companies
Security and safety Security at work
and in systems Information security
Tekes´ strategy focus areas 2005 -2007…in applications
Renewing products andbusiness concepts
The aim is to renew and strengthenour strong industrial clusters
Competitive products and services Modern process and production
technologies in business applications
Health and well-being Human approach, quality and
productivity in health care Products and services to
support health and well-being
Services Quality and productivity New service businesses
New models for public andprivate partnerships
Service innovations
Environment and energy Sustainable and
eco-efficient solutions Solutions for
climate change mitigation Acceptable and profitable
energy
Work and leisure Productive, creative and
motivating solutions Use of space
Enjoyment and experiencesin leisure time
Tekes´ strategy focus areas 2005…2007… in technology and basic knowledge
Biotechnology
Innovative nanostructured materials New structures for nanoelectronics
Nanosensors and actuators
Mobility Broadband communications
Software-intensive products and systems Knowledge and content management
Test environments for new applicationsand services
DM 12986305-2005 Copyright ©
Tekes
Materials technology Interdependencies between
properties, structures and production Surface phenomena
Materials design
Nanotechnology
Systems biology Bioprocess technology Combining biosciences
with ICT
ICT
Innovation activities Business renewal Growth companies and
internationalisation
Customer-oriented approach Managing a networked business Knowledge management Service business
Business competence and business development
20 ongoing programmes 2006 with a totalvolume of 1.5 billion euros
Each programme typicallylasts 5 years
Tekes generally financesabout half the totalinvestment in R&D of aprogramme
2,000 companyparticipations and 500research unitparticipations annually
Technology programmes implement the strategy… Tekes together with companies, research institutes, universities, …
About half of Tekes resources in programmes – some 200 Meur/y
Steering group enterprises
Tekes
PreparationCoordinationDecision
making
Company R&Dprojects
Grants
GrantsLoansCapital loans
Research projectsat universities andresearch institutes
SynergyNetworkingPart financing
DM 3025602-2006 Copyright © Tekes
Programmes are a unique gateway to Finland…… a unique platform for international co-operation
Some examples: Energy, Environment and Construction
DM 3025601-2006 Copyright © Tekes
2002-2006
2003-2006
2003-2007
2003-2007
2004-2008
40
18
60
33
70
17
8
20
16
23
200
12
138
164
122
Technology programmes in 2006CUBE - Building Services
FUSION - Fusion Energy Research Programme
DENSY - Distributed Energy Systems
Sara - Construction Adding Value
ClimBus - Business Opportunities inMitigating Climate Change
Totalvolume
mill. euros
Participatingresearch
unitscompa-
nies
2003-2007
2004-2009
2005-2009
2005-2010
2005-2010
2005-2010
Some examples: Information and Communications Technology
DM 3025601-2006 Copyright © Tekes
Technology programmes in 2006FENIX - Interactive Computing
FinnWell - Future Healthcare
MASI - Modelling and Simulation
GIGA - Converging Networks
NORDITE - Scandinavian ICT
VAMOS - Value Added Mobile Solutions
VERSO – Vertical Software Solutions
Totalvolume
mill. euros
Participatingresearch
unitscompa-
nies
84
150
92
237
15
202
21
21
38
2
15
11
82
66
47
5
-
56
FinnWell - Healthcare Technology Programme
DM 11222910-2004 Copyright © Tekes
Programme duration: 2004-2009Programme volume: approx. 150 million
euroof which Tekes provides 50 %
Programme Coordinator: Kalevi Virta, Navicre OyProgramme Manager: Anne Turula, TekesFurther information: www.tekes.fi/programmes/finnwell
Focus areas of Future Healthcare (FinnWell)
DM 11222910-2004 Copyright © Tekes
Well-being
Clin
ical
med
icin
e
Pu
blic
hea
lth
ExperiencesCare /
diagnosisMaintaining
healthPreventing
illness
Technologies for diagnostics and care
Healthcare IT related products and services
Processes of healthcare
Viewpoint of organisationsand business
Citizens’- / patients-viewpoint
Tekes’ mission statement
Tekes boosts the development of Finnish industryand the service sector by technological means and
through innovation.
This will renew the economy andincrease added-value, productivity and exports,
thereby creating employment and enhancing well-being.
DM 3218903-2006 Copyright © Tekes
Tekes, Finnish Funding Agency for Technology and InnovationTekes, Finnish Funding Agency for Technology and Innovation
Tekes’ key partners and stakeholders… we hit the target together with our partners
Municipalitiesand cities
Otherministries
Sitra
Academyof Finland
FinnishIndustry
Investment Ltd
Privateinvestors and
Business Angels
Key ministries
National Boardof Patents andRegistration of
Finland
Tekes
RegionalCouncils
Invest inFinland
Scienceand
TechnologyPolicy Council
Centres ofExpertise
TechnologyCentres
CustomersCompaniesUniversitiesResearch institutesPolytechnics
Finpro
DM 3218908-2006 Copyright © Tekes
Associations forindustry and
services
Finnvera
TE-Centres
Innofin
DM 111 11009-2004 Copyright ©
Tekes
Business from R&D
Tekes’ R&D funding services for companies
DM 42097 03-2005 Copyright © Tekes
Funding criteria for company R&D projects
DM 42097 04-2003 Copyright © Tekes
Tekes’ experts evaluate the project, the business, resources and the company from the holistic viewpoint
Tekes’ experts evaluate the project, the business, resources and the company from the holistic viewpoint
Other funding applications and the indirect impacts of the project on other companies will be taken into account in the evaluation.
Other funding applications and the indirect impacts of the project on other companies will be taken into account in the evaluation.
The key issues of the evaluation areBusiness activity to be pursuedTechnology, innovation, competence and
know-how to be developedResources available for the projectCooperation to be developed and utilisedDirect affect on social, environmental and
welfare aspects Impact of Tekes’ funding and expert work
on project implementation
Forms of Tekes’ funding
R&D grants are aimed at research projects that create new knowledge
for the development of products and services feasibility studies
R&D capital loans are primarily aimed atstrengthening the risk-taking capacity of small
and starting enterprises in their R&D activitiesprojects that will develop a product, process or service
Start-up capital loans for technology companies are aimed at
sharing the costs at the start-up phase
R&D loans are primarily aimed atprojects that will develop a product, process or servicewell established SMEs
Tekes’ funding is often a combination of a grant and a loan DM 42097
04-2004 Copyright © Tekes
Funding depends on the project’s technological challenge and on the market distance
DM 42097 04-2004 Copyright © Tekes
Distance frommarket increases
Degree of challengeand novelty increases
R&D loan or capital loan for R&D
Loan-weighted combined funding
R&D grant orcombined funding
R&D grant
Total 429 million euros and2,134 projects
Total 429 million euros and2,134 projects
Total Tekes R&D fundingin 2005
R&D grantsto companies
178 million euros
Research fundingfor universities,research institutesand polytechnics179 million euros
R&D loansto companies43 million euros
Capital loans for R&Dto companies
25 million euros
DM 18063001-2006 Copyright © Tekes
Start-up loans to newtechnology companies
4.1 million euros
Figures include 21 million euros funding from EU Structural Funds.
Share of Tekes business R&D funding for companies with less than 500 employees
Annually an additional 10-25 million euros was directed towards companies with less than 500 employees through projects in large companies, which
increases the percentage by 5-10 points.
%
DM 180630 and 58774 02-2006 Copyright © Tekes
0
10
20
30
40
50
60
70
80
90
100
84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05
SME
(EU-def.)
50-60%
Tekes´ fundingfor companies
2004,%
Tekes´ fundingfor companies
2004,%
Companies R&Dinvestments2003,
%
Companies R&Dinvestments2003,
%
Tekes R&D funding by regionTo Kainuu about 1-1,5% of Tekes´ funding,
which is well above average
Total237 Meur
Total 3,5 Meur
0,4
1,2
0,4
0,2
1,0
0,3
0,3
3,2
1,0
17,1
0,4
15,2
1,2
1,11,6
11,0
2,4
40,8 1,2
0,6
2,6
1,8
1,4
2,1
1,5
0,5
3,7
0,8
11,0
1,2
7,1
2,0
1,93,9
38,914,2
2,2
2,8
DM 125030 ja 5502301-2005 Copyright © Tekes
Tekes R&D funding by industry
Million eurosMachines andmetals
Other
Businessservices
Forest
Construction
Chemicals
Industry
Electricity, gasand water supply
Foods
DM 18063001-2006 Copyright © Tekes
Electronics andelectricity
0
10
20
30
40
50
60
70
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Networking in corporate R&D projects
Share of networked projects, %
Almost all projects funded by Tekes in large companies and more than two thirdsof all R&D projects were networked in 2005. The figures include corporate R&D
projects, but not smaller feasibility studies. DM 58774, 38065 and 18063001-2006 Copyright © Tekes
0
20
40
60
80
2000 2001 2002 2003 2004 2005
Subcontractingfrom researchinstitutes
Large companysubcontractingfrom SMEs
Part oftechnologyprogramme
Internationalcooperation
International cooperation projects funded by Tekes by country groups
Othercountries
USA
Japan
EU 25 and EEA
Almost 40 percent, equal to 797 projects funded by Tekes were internationally networkedin 2005. The total budget was 430 million euros, of which 234 million was funded by Tekes.
Percentages are calculated from the total funding of the projects.
Any project can belong to more than one country group. DM 180630 and 3194701-2006 Copyright © Tekes
Number of international projects
China0
100
200
300
400
500
600
2001 2002 2003 2004 2005
Large companies (more than 500 employees) receive 16 % of Tekes total funding and 27 % of Tekesbusiness R&D funding during 2003-2005. Large companies co-finance Tekes R&D projects in universities,public research institutes and SMEs as much as Tekes finances their projects.This system is managed by Tekes funding criteria, Increasing the quality of R&D projects and havingimportant externalities in:• knowledge transfer between large companies, universities and research institutes• development of SMEs as subcontractors and strategic partners of large companies
Impact of project funding in large companies
DM 125032 and 5877402-2006 Copyright © Tekes
UniversitiesPublic research
centresSMEs
Tekes
66 mill.euros
Projectvolume
191 mill. euros35 mill. euros 19 mill. euros
11 mill. euros Funding flows to/from large companies,million euros
• Tekes funding to R&D projectsof large companies
• Large companies projects buyresearch services from researchorganisations
• Large companies projects useSMEs as subcontractors
• Large companies co-financepublic research projects
• Net flow
Largecompanies
Funding flows of Tekes funded R&D projects between large companies, (more than 500 employees), universities, research institutes and SMEs
Annual average 2003-2005
+ 66
- 35
- 19
- 11
+ 1
Network for Regional SME Finance – FinNetSME, Martti af Heurlin, Tekes
Main messages:
• High R&D-investments clear results
• Towards wider understanding of innovation
• Strengths of the Finnish approach
• Interactive public-private communication – all levels
• Business sector R&D funding by Tekes
• Together with others like: Finnvera, TE-Centres, SITRA, Finnish Industry Investments Ltd, Finpro…
Thank You [email protected]