Presentation of the Access ICT Project- Internet of Things 2011 Congress - Brussels, Belgium
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Transcript of Presentation of the Access ICT Project- Internet of Things 2011 Congress - Brussels, Belgium
An overview of the ACCESS ICT Project
Miguel Trujillo, COO, EBAN29 June2011
Introduction• FP7 supports ~2000 ICT R&D (budget €9.1bn)• 2013: 7.41% of EU Budget devoted to research and
innovation*• Few FP R&D projects commercialise their results and spin
out a viable business. Many new technologies, products and services never reach the market
• BA and VC Funding can be an effective way of commercialising research and growing innovative product or services into successful businesses
• Angels and VC investors always look for ICT innovations and business opportunities
*Source: Green Paper : From Challenges to Opportunities: Towards a Common Strategic Framework for EU Research and Innovation funding
Who are we?
EBAN: European Trade Association of business angels, seed funds and other early stage investors
115 organizations - 26 countries – c. 25,000 investorsIt represents the interests of 2/3 of the business angel groups operating in Europe
Lead partner of ACCESS ICT
• An initiative targeted at FP6& 7 funded early stage ICT SMEs and ICT research projects looking for funding from VC and angel investors.
• ACCESS ICT is a free service funded by the EC (DG Information Society and Media), led by EBAN with the partnership of Angel Capital Innovations, the consultancy company of London Business Angels.
ACCESS-ICT: A project led by the investment community.
Why is EBAN involved in ACCESS ICT?
1. Lack of investment readiness: entrepreneurs do not understand and fulfil investor requirements – Reasons:
• Historically, knowledge transfer has been monetised by licenses - less costly to sell knowledge than create a business
• The scientists that develop the new technologies:– Lack entrepreneurial aspirations – Lack management skills and market knowledge
Why is EBAN involved in ACCESS ICT?
2. Almost 50% recorded investments in Europe by angels are in ICT
Source: EBAN Statistics Compendium 2010
Why is EBAN involved in ACCESS ICT?
3. Increase cross border investment4. Creation of a pan European network of
investors in ICT5. Identify key policy recommendations
Benefits for SMEs & Research Teams
• Free coaching and mentoring to become investment ready
• Access to tailor-made tools (eb. Tool Kit)• Participation in one-to-one clinics and
evaluation of investment readiness.• Introduction to investors and funding events
across Europe (locally+pan-European).
Benefits for Investors
• Exclusive source of high quality deal flow based on ICT innovations
• Opportunities to participate in targeted events, workshops and discussions lead by expert fellow investors
• Access to network of ICT venture capital experienced investors, organised around EBAN
Policy Recommendations1. Increase capacity building of research projects and SMEs to
strategically plan for investment2. Raise awareness Europe-wide concerning the role of angel and
venture capital investors.3. Streamlining the road to market and contact with investors
• Involving investors in selection panels for R&D projects• Ensuring that proposals include focus on commercialization and
investment potential4. Leverage private sector involvement in the market
• Stimulate the growth of more early stage equity investments in ICT SMEs through new business angel-led co-investment funds, including cross border to leverage both angel finance and business building skills.
5. Building an entrepreneurial and financing ecosystem
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CONTACT DETAILS
EBAN SecretariatRue Vautier 541050 Bruxelles
+32 2 626 20 63