International training course:

1

• International training course
• Business Start-up and Access to Finance for
• Small and Medium-Sized Enterprises (SMEs) and
• New Technology Based Firms
• Lecturer Aleardo FURLANI
• Technology incubator investment programmes and
  the setting up of technology partnerships
• Institute for Industrial Promotion
• Rome, November 30th December 1st, 2006

2
Knowledge is a new kind of asset/1

• The foundation of industrialized economy is
  shifting from natural resources to intellectual
  assets
• Knowledge assets are factors of production that
  more important than traditional resources of
  capital, labor and land.
• Value creators can transform markets overnight
  by exploiting converging technologies and rapid
  innovations.

3
Networking is a new kind of asset/2

• Networking knowledge generators/value creators is
  the key challenge and Technology Transfer is the
  driver
• Open Science
• Licensing
• Collaborative Model
• Mobility of Researchers
• Training
• Spin-outs

4
Services Technology watch, Partner search, IPR,
BPR, Business Plan, Technology Marketing,
Financing, VC and Seed Capital

• Spin-out Model

• From Research to Value creation you can create
  innovation through Technology Transfer

Sale
Production
Development
Research
End-User
5

• Spin-out mod works in Europe, but can improve

• Builds on the Licensing Model
• Background technology used as platform to develop
  new business concepts
• Proof of principle by the researchers themselves
• Development housed in company structure funded by
  seed capital and virtual capital
• Only alternative when no industry partner in
  sight
• Contributes to regional development
• Contributes to rejuvenating economy
• Slow process more than 10 years for mature
  companies

6
How to support the creation of durable spin-outs?

• They are created spontaneously by entrepreneurs
• Creation can be increased by Technology Parks and
  Incubators
• Pre-seed and seed capital
• Technological and Communication Infrastructures
• Training and coaching of entrepreneurs
• Recognition and entrepreneurship culture
• Sustainability is still a problem
• Financial performance(see Finland)
• Access to talents

7
The European Union experience

• Innovating Regions in Europe (best practices,
  learning platform, inter-regional projects,
  Benchmarking, Trend Chart)
• Structural Funds (Objective 1 regions)
• Office of Technology Transfer(Industrial Liaison
  Offices)
• EIB, European Framework Program
• Lisbon objectives

8
The Finnish experience

• Finlands redevelopment in 90s22 Science Parks
  established
• Science Parks working close to Universities to
  promote the creation of new business in the
  region
• They foster the funding the growth and the
  internationalization of innovative high tech
  companies
• Act as middle-med in collaboration with
  Universities, companies and local authorities
• Bring together many players in joint RD projects
• Actively identify research breakthroughs in
  commercialization and technology transfer

9
Other Country System experiences

• The development of Singapore high-tech activities
  is linked to the development of 6 Science Parks
• Tunisia is developing a network of 10 Technology
  Parks as a key drivers of development
• India clustered its development in through
  Science parks development and China, Brazil and
  Balkans show similar patterns
• Learning points
• strong relation to national policies tax
  incentives, linkage mechanisms and support for
  training.
• Key role of Foresight mechanism, to promote
  innovation and sustain development in
  high-technology domains.
• Specialised service companies provide consultancy
  services and R and D for local industries through
  contracting academics from the university.
• Technology incubators, show to be an instrument
  for enhancing economic growth, restructuring and
  development through technology diffusion and its
  commercialisation.

10
Technology Incubators development features/1

• Typical Six Stages Country System development
  model
• basic research, development research, product and
  process ideas, prototype, production, diffusion
• But
• Too much focus on the pushside
• Basic research is not the only initiator stage
  but can help
• Relationship between research and
  commercialization is too complex to be linear
• Users are the key pull though not exclusive-to
  the problems and markets
• Therefore
• technology Parks can be the place where pull
  and push happenprojects, spin-outs,
  collaborations, ideas generation,finance
• Mixed Roles (researchers/entrepreneurs) and
  competences (Science/Market) generate competitive
  advantage
• Professional management

11
Technology Incubators development features/2

• 1. Demonstrating the future
• Breaking the isolation
• Excite the youth in Science and Technology
• Show that there is a potential for careers in
  technology fields
• 2. De-emphasise (not eliminate) the public
  funding role more market is needed.Access to
  finance, access to opportunities.
• 3. Develop Technology showcases
• Creating the partnerships and platforms for
  innovation
• Foster Internationalisation, often leads to
  research
• New ways of stimulating knowledge generators and
  value creators interaction
• 4. Urban design
• Safety, shared facilities
• Social spaces for networking and cross
  fertilisation

12
FINAL REMARKS

• Conditions of success ,not a fixed blueprint
  but clear concepts, effective leadership, broad
  support in the community, and sustained policy
  commitment. Caution measuring success is
  difficultemployment? financial performance? of
  whom?
• The Importance of Partnerships working with the
  private sector is an important means for the
  laboratories to accomplish their missions.
  Attracting and keeping the best scientists and
  the the best entrepreneurs is required.
• Institutional Design public-private partnerships
  must benefit both the public and industry. The
  system needs an atmosphere in which knowledge
  flows quickly, and failure is not a stigma.
• Operational Challenges in creating
  government-industry partnerships, harder
  challenges in maintaining. Clear role definition
  and medium-long term perspectives are necessary.