Development of specific regional policies through the analysis of earlystage financing opportunities

1
Development of specific regional policies through
the analysis of early-stage financing
opportunities for innovative start-ups and
spin-offs / SEED-REG

• Objectives timetable - outputs
• Piroska Kalmár, Innostart BIC Hungary
• Kick-off meeting
• Budapest, 9-10/6/2005

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Overall objectives of the SEED-REG project

• Strengthening economic and social cohesion in
  the Community by facilitating regional
  development through the introduction and
  integration of specific financial engineering
  policies and instruments into regional
  development or regional innovation strategies
• The project utilizes information exchange and
  sharing of knowledge and know-how between the
  participating regions with the final aim of
  designing particular early-stage financing models
  (policy documents) to influence policy making
  authorities and organizations to integrate these
  policies into regional development strategies

3
Overall objectives of the SEED-REG project

• The project examines and determines the
  feasibility of seed capital fund establishment in
  the participating regions
• The project has the long-term aim of assisting
  the participating regions to develop concerted
  policies and actions through the creation of
  specific policy instruments for the enhancement
  and support of innovative enterprises.

4
SEED-REG Partnership

• INNOSTART Hungary National Business and
  Innovation Centre Lead Partner and Component 1
  and Component 4 Leader
• Brandenburg Economic Development Board
  Component 3 Leader
• Small Business Support Center of Ljubljana
  Component 5 Leader
• Centre for Research and Technology Hellas
  Partner
• Central Bohemia Regional Development Agency
  Component 2 Leader
• Central Hungary Regional Development Agency -
  Partner

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Basic Information

• Duration June 2005 May 2007
• Budget 830 000 EUR (ERDF funding 622 500 EUR)
• Involved regions
• Central Hungary
• Slovenia
• Kentriki Makedonia
• Central Bohemia
• Brandenburg

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Components of the SEED-REG Operation Component 1
Management and Coordination

• Responsible partner INNOSTART Hungary National
  Business and Innovation Centre
• Planned Results
• More efficient management
• Enhanced communication between the partner
  regions
• Better quality activity and audited financial
  reports
• Improved transnational coordination among the
  partners
• Improved networking among the partner regions

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Components of the SEED-REG Operation Component 1
Management and Coordination

• Steering Group monitoring and evaluation the
  projects implementation
• Coordinator administrative management
  procedures / thematic coordination
  for the whole project
• Financial Manager financial management
  procedures for the whole project
• Component Leaders performance of the relevant
  component activities
• Regional project managers day-to-day
  management and coordination of the
  project tasks at regional level

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Components of the SEED-REG Operation Component 1
Management and Coordination Steering Group

• Members representatives from all the partners
• Ms Kinga Garab (INNOSTART Hungary National
  Business and Innovation Centre)
• Ms Mateja Vadnjal (Small Business Support Center
  of Ljubljana)
• Pr Iacovos Vasalos (Centre for Research and
  Technology Hellas
• Dr Peter Eulenhoefer (Brandenburg Economic
  Development Board)
• Mr Jirí Svítek (Central Bohemia Regional
  Development Agency)
• Dr Lukovich Tamás (Central Hungary Regional
  Development Agency)

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Components of the SEED-REG Operation Component 1
Management and Coordination Steering Group

• Chaired by the Lead Partner representative
• Steering Group meetings will be embedded in the
  6-monthly Review Meetings
• Decision-making decisions will made by
  majority vote (LP have the casting vote in the
  case of any dispute)
• Monitoring and guiding the implementation of the
  project
• Reviewing and approving the work plans and the
  reports

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Components of the SEED-REG Operation Component 1
Management and Coordination Steering Group

• Applying a monitoring and evaluation system
  established by the Lead Partner in order to
  assess the project progress
• Monitoring and evaluation system are built on
  the expected outputs and the planned results /
  result indicators
• Monitoring and evaluation system concern the
  progress towards the achievements of the project
  aims, the effectiveness and efficiency of the
  implementation, the quality of the management and
  coordination

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Components of the SEED-REG Operation Component 1
Management and Coordination Steering Group

• SG meetings all the aspects of implementation
  in the context of results and outputs for each
  component will be covered in detail
• Interim evaluations will be completed on all the
  project activities by the SG
• Interim evaluation will be included as an
  appendix to the 6-monthly reports
• Overall evaluation at the last SG meeting
  recommendations on the future sustainability of
  the project results

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Components of the SEED-REG Operation Component 1
Management and Coordination
June 2005 Kick-off meeting in Budapest
Minutes Partnership Agreement July 2005
December 2005 Communication Plan Start-up
report
Review/SG meeting in Prague (November
2005) January 2006 June 2006 1st Progress
Report Review/SG meeting in Potsdam (May
2006) July 2006 December 2006 2nd Progress
Report Review/SG meeting in Thessalonica
(November 2006) January 2007 May 2007 3rd
Progress Report Review/SG meeting in
Budapest (May 2007) Final Report

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Components of the SEED-REG Operation Component 2
Existing situation analyses supply and demand
of seed finance assessment in each partner region

• Responsible partner Central Bohemia Regional
  Development Agency
• Planned Results
• Successful regional Expert Group meetings
• Better access to the information on available
  early-stage financial tools, programs,
  innovation strategies, regional and national SME
  financing programs, support policies
• Focus groups of existing seed capital funds,
  seed capital fund related management skills
• Well integrated existing situation analyses into
  synthetic diagnosis

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Components of the SEED-REG Operation Component 2
Existing situation analyses supply and demand
of seed finance assessment in each partner region
June 2005 Regional Expert Group meetings
preparation of existing situation
analyses July 2005 December 2005 Pre-defined
methodology on the structure of the

regional existing situation analyses (July
2005) Regional existing
situation analyses (October 2005)
International
joint meeting in Prague (November 2005)
regional presentations
of the analyses January 2006 June 2006
Synthetic diagnosis (January 2006)

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Components of the SEED-REG Operation Component 3
Sharing good practice on early-stage SME
financing opportunities and examining adopting
possibilities

• Responsible partner Brandenburg Economic
  Development Board
• Planned Results
• Increased knowledge on available early-stage
  finance tools
• Increased number of good practice cases
  implemented in EU
• Better understanding of EU wide early-stage
  finance models
• Better access to the regional specific
  information

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Components of the SEED-REG Operation Component 3
Sharing good practice on early-stage SME
financing opportunities and examining adopting
possibilities
July 2005 December 2005 Methodology for
collecting EU-relevant good practices at
international level (September 2005) 3-4
good practices / region (December 2005) January
2006 June 2006 Good practice evaluations /
model strategy (March 2006) Expert Group
meetings / region (April 2006) discussion
of the model strategy
International joint meeting in Potsdam (May 2006)
presentations / region on applicable
elements of the model
strategy July 2006 December 2006 Model
strategy synthesis (July 2006)
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Components of the SEED-REG Operation Component 4
Composition of regional feasibility analysis
and design of innovative financing models

• Responsible partner INNOSTART Hungary National
  Business and Innovation Centre
• Planned Results
• Deeper access to the information on the
  establishment and operation of seed financing
  instruments through regional feasibility
  analyses and regional innovative early-stage
  financing models
• Better involvement of regional Expert Groups

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Components of the SEED-REG Operation Component 4
Composition of regional feasibility analysis
and design of innovative financing models
July 2006 December 2006 Expert Group meetings
/ region (July 2006) introduction and
discussion of model strategy synthesis
preparation of
regional feasibility analyses Feasibility
analyses from NMSs and Greece (October
2006) International joint meeting in
Thessalonica (November 2006)
presentations of regional feasibility
analyses January 2007 May 2007 Regional
innovative financing models (policy documents)
from NMSs and Greece (March 2007)
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Components of the SEED-REG Operation Component 5
Raising awareness and building consensus on
regional level about seed finance

• Responsible partner Small Business Support
  Center of Ljubljana
• Planned Results
• Higher visibility of project results
• Enhanced dissemination through interactive
  web-site
• Increased awareness of decision-makers and
  early-stage actors through booklets, brochures,
  international newsletters, international
  conference
• Successful Expert Group meetings
• Increased knowledge transfer on general fund
  raising and management

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Components of the SEED-REG Operation Component 5
Raising awareness and building consensus on
regional level about seed finance
July 2005 December 2005 Interactive project
web-site Innostart
(September 2005) January 2006 June 2006
Updated project web-site Booklet (25
copies / region) Brochure (50 copies /
region) International newsletter July
2006 December 2006 Updated project
web-site Booklet (25 copies / region)
Brochure (50 copies / region)

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Components of the SEED-REG Operation Component 5
Raising awareness and building consensus on
regional level about seed finance
January 2007 May 2007 Updated project
web-site 1st Expert Group meeting / region
(January 2007) discussion of regional
feasibility analyses and preparation of
innovative financing models General Fund
Raising and Management Training (February
2007) International newsletter
International conference in Ljubljana (April
2007) 2nd Expert Group meeting / region (May
2007) promotion of regional feasibility
analyses and regional innovative financing
models
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Timetable of the SEED-REG Operation 1st year
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Timetable of the SEED-REG Operation 2nd year
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Thank you for your attention! Piroska
Kalmár INNOSTART Hungary National Business and
Innovation Centre Phone [phone] Fax 36
1 382 1510 E-mail piroska_at_innostart.hu