Di Minin - Presentazione Strumento PMI

31/03/14
Lo Strumento PMI & Access to Risk Finance
Alberto Di Minin – Delegato Italiano
in collaborazione con APRE
1 Aprile 2014
Supporto alle PMI: approccio integrato
20% del
budget in
LEITs & SCs
'Innovation in
SMEs'
Proge0 collabora5vi Strumento PMI 13% 7% Eurostars II Enhancing Innova0on Capacity Market-­‐driven Innova0on Access to Risk Finance 2
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31/03/14
Le PMI in H2020
Industrial Leadership Excellent Science § European Research Council § Fron0er research by the best individual teams § Future and Emerging Technologies § Collabora0ve research to open new fields of innova0on § Marie Skłodowska Curie ac5ons § Opportuni0es for training and career development § Health, demographic change and wellbeing § Access to risk finance § Leveraging private finance and venture capital for research and innova0on § Secure, clean and efficient energy § Innova5on in SMEs § Fostering all forms of innova0on in all types of SMEs § Research infrastructures (including e-­‐infrastructure) § Ensuring access to world-­‐class facili0es Societal Challenges § Leadership in enabling and industrial technologies § ICT, nanotechnologies, materials, biotechnology, manufacturing, space § Food security, sustainable agriculture, marine and mari5me research & the bioeconomy § Smart, green and integrated transport § Climate ac5on, environment, resource efficiency and raw materials § Inclusive, innova5ve and reflec5ve socie5es § Security society European Ins5tute of Innova5on and Technology (EIT) Spreading Excellence and Widening Par5cipa5on Science with and for society Joint Research Center (JRC) EURATOM 3
Lo Strumento PMI * Concept e valutazione della faHbilità Dimostrazione, market replica0on R&D Commercializzazione dei risulta0 Idea to concept, risk assessment, technological & commercial feasibility Demonstra0on, prototyping, tes0ng , market replica0on, scaling up, miniaturisa0on, research Quality label for successful projects, access to risk finance, indirect support * Approccio prevalentemente bottom-up
Idea Business coaching Mercato 4
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Phase 3 = 2% budget
Lo strumento PMI: le tre fasi
Phase 1: Concept
and feasibility
assessment
Input: Idea/Concept:
"Business Plan 1"
(~ 10 pages)
10% budget
Activities:
Feasibility of concept
Risk assessment
IP regime
Partner search
Design study
Pilot application
etc.
10% success
30-50% success
Phase 2: R&D,
demonstration, market
replication
Phase 3:
Commercialisation
Input: "Business plan 2"
plus description of
activities under Phase 2 (~
30 pages)
88% budget
Promote instrument as
quality label for successful
projects
Activities:
Development, prototyping,
testing, piloting,
miniaturisation, scaling-up,
market replication,
research
Support via networking ,
training, information,
addressing i.a. IP
management, knowledge
sharing, dissemination
Output: "investor-ready
Business plan 3"
Output: elaborated
"Business plan 2"
Facilitate access to private
finance
SME window in the EU
financial facilities (debt
facility and equity facility)
Possible connection to PPC
(and PPI?)
0,5-2,5 (5) M€
Lump sum: 50.000 €
EC funding
~ 6 months
~ 12 to 24 months
No direct funding
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Il coaching
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Caratteristiche dello strumento PMI
–  Indirizzato a tutti i tipi di PMI innovative che presentino una forte volontà
di crescere, svilupparsi e internazionalizzarsi
–  Solo PMI potranno richiedere finanziamenti (sostegno a una sola impresa
è possibile, ma collaborazione certamente consigliabile)
–  Competitivo, dimensione EU à solo migliori idee accedono alla fase 1
–  Orientato al mercato; attività close-to-market: finanziamento al 70%
–  Costituito da 3 fasi – piu' il coaching
–  Possibilità di entrare nella fase 1 e fase 2
–  Applicato in tutte le 'societal challenges' e 'key enabling technologies'
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SME Instrument = “Open call”*
Apertura call: 1° marzo 2014 (Fase 1 e Fase 2)
Scadenze/Cut off dates: Fase 1
18/06/2014
24/09/2014
17/12/2014
2014
Fase 2
09/10/2014
17/12/2014
2015
Fase 1
18/03/2015
17/06/2015
17/09/2015
16/12/2015
Fase 2
18/03/2015
17/06/2015
17/09/2015
16/12/2015
* Stesse scadenze SME I all’interno di LEITs + SCs
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SME I nelle LEITs – II Pilastro
TOPIC
BUDGET €
ICT-37-2014/2015 Open Disruptive
Innovation Scheme (implemented
through the SME instrument)
€ 45 million 2014
€ 45 million 2015
NMP 25 – 2014/2015 Accelerating
the uptake of nanotechnologies,
advanced materials or advanced
manufacturing and processing
technologies by SMEs
€ 21,80 million 2014
€ 23,80 million 2015
70%
BIOTEC 5 – 2014/2015 SME-boosting
biotechnology-based industrial
processes driving competitiveness
and sustainability
€ 3,80 million 2014
€ 2,40 million 2015
70%
SME-SPACE-1-2014/2015 Call “SME
Instrument” 2014 and 2015
€ 8,50 million 2014
€ 8,75 million 2015
FUNDING RATE
FASE 2
70%
70%
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SME I nelle Societal Challenges – III Pilastro
TOPIC
BUDGET €
FUNDING RATE FASE 2
SC 1 -­‐ PHC 12-­‐ 2014-­‐2015 Clinical valida0on of biomarker and/or diagnos0c medical devices
€ 66,10 million 2014 € 45 million 2015
100%
SC 2 -­‐ SFS 8 – 2014-­‐2015 Resource-­‐efficient eco-­‐innova0ve food produc0on and processing
€ 9 million 2014 € 17 million 2015
70%
SC 2 -­‐ BG 12 – 2014-­‐2015 Suppor0ng SMEs efforts for the development-­‐
deployment and market replica0on of innova0ve solu0ons for blue growth
€ 3 million 2014 € 5 million 2015
70%
SC 3 -­‐ SIE 1 – 2014-­‐2015 S0mula0ng the innova0on poten0al of SMEs for a low carbon and efficient energy system.
€ 33,95 million 2014 € 37,26 million 2015
70%
SC 4 -­‐ IT.1 -­‐ 2014-­‐2015 Small business innova0on research for transport
€ 35,87 million 2014 € 38,96 million 2015
70%
SC 5 -­‐ SC5 – 20 – 2014-­‐2015 Boos0ng the poten0al of small business foe eco-­‐innova0on and a sustainable supply of raw material
€ 17 million 2014 € 19 million 2015
70%
SC 6 -­‐ INSO 9 – 2015 Innova0ve mobile e-­‐government applica0ons by SMEs.
€ 4 million 2015
70%
SC 6 -­‐ INSO 10 – 2015 SME business model innova0on for inclusive socie0es.
€ 11 million 2015
70%
SC 7 -­‐ DRS 17 – 2014-­‐2015 Protec0on of urban soa targets and urban cri0cal infrastructures € 7 million 2014 € 7,4 million 2015
70%
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EU Financial Instruments
to Support SMEs
Building on success: 2007-2013
q  Venture capital (GIF-­‐1, GIF-­‐2) -­‐ EIF o  mobilised: over €2 billion so far o  final beneficiaries: 236 SMEs — EU outlay: €376 million q  SME Guarantee Facility -­‐ EIF o  loans: over €11.5 billion via 54 guarantee agreements so far o  final beneficiaries: > 191 000 SMEs — EU outlay: €393 million q  Risk-­‐Sharing Finance Facility -­‐ EIB – large midcaps, big firms o  loans: over €8.5 billion from EIB so far o  88 signed opera5ons — EU outlay: €888.7 million q  Risk-­‐Sharing Instrument – EIF (pilot)— guarantees + counter-­‐g o  SMEs, small + medium midcaps undertaking R&I o  aim: €2.5 billion loans, 20 banks/guarantors, 1000 firms 12
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Lessons learnt
o  Streamline rules — and number of instruments! o  Specific legal framework increases confidence o  Think “innova5on ecosystem” o  Coordinate more closely with Structural Funds o  Priori5se awareness-­‐raising to s5mulate demand o  Prototype rapidly; evaluate oqen o  Widen range of stakeholders in governance system 13
Financial instruments post-2013 for SMEs:
major changes going forward
BIGGER
q  More money in the pot (depending on MFF negotiations)
BOLDER
q  Add funds-of-funds to equity support toolbox
q  Further upstream and downstream
q  VC is not the only game in town
BETTER
q  Interlinked R&I (H2020) / growth (COSME) facilities
q  Governance: advisory board of high-level experts
q  Market-test, pilot, review, scale up
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Horizon 2020 e COSME sosterranno
congiuntamente gli strumenti finanziari per le PMI
Equity Facility per la crescita delle PMI e R&I
o  Strumento di Capitale proprio per la Ricerca e l'Innovazione
(H2020): si concentra su fondi che forniscono capitale di rischo a
imprese in fase di start-up
o  Strumento di Capitale proprio per la Crescita (COSME): si
concentra su fondi che forniscono capitale di rischo a imprese in
fase di espansione
Strumento di Debito per la crescita delle PMI e
R&I
o  Strumento di garanzia dei prestiti (COSME)
o  Strumento di garanzia dei prestiti per la Ricerca e
l'Innovazione (H2020)
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Equity instrument for SMEs’ growth and R&I
q  Equity Facility for R&I (H2020) ç GIF-­‐1 o  focus: early-­‐stage VC (including seed and start-­‐up) o  final beneficiaries: innova've SMEs and small midcaps o  growth-­‐stage to some extent q  Equity Facility for Growth (COSME) ç GIF-­‐2 o  focus: growth-­‐stage VC o  final beneficiaries: growth-­‐oriented SMEs o  early-­‐stage to some extent q  Mul5-­‐stage funds: pro-­‐rata support by COSME and H2020 q  Funds-­‐of-­‐funds ç NEW è q Technology transfer fund 16
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Equity instrument for SMEs’ growth and R&I
Two complementary facilities working together to support access to
risk capital and stimulate the development of the VC industry
Equity
Facility
for R&I
Mainly
from
H2020
from start-up/early stage
stage
combined
investment Mainly
from
in multistage funds COSME
Equity
Facility
for Growth
to expansion/growth
may make growth investments
may make early-stage investments
up to 20% of total EU investment
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Debt instrument for SMEs’ growth and R&I
q  Loan Guarantee Facility (COSME) ç SMEG o  guarantees for loans to SMEs up to € 150 000 o  securi5sa5on of SME debt finance porsolios q  SMEs & Small Midcaps Guarantee Facility (H2020) ç RSI o  guarantees for loans over € 150 000 for R&I ac5vi5es 18
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EU SME debt financial instruments
current and proposed
DEBT INSTRUMENT FOR SMEs - 2007-2013
SME Guarantee Facility (SMEG) under CIP
Risk-Sharing Instrument (RSI): part of RSFF under FP7
DEBT INSTRUMENT FOR SMEs' GROWTH & R&I -­‐ 2014-­‐2020 Loan Guarantee Facility q  Guarantees and securi0sa0on on loans for all types of SME COSME SMEs & Small Midcaps Guarantee Facility q  Guarantees on loans to R&I-­‐intensive SMEs/small midcaps Horizon 2020 19
What to expect in the debt and equity
facilities in H2020
q  Full-­‐spectrum approach: -­‐ from tech transfer and proof-­‐of-­‐concept -­‐ to prototypes, large-­‐scale demonstrators, first-­‐of-­‐a-­‐kind plants … q  Stronger focus on SMEs and medium-­‐sized firms (midcaps, Mi8elstand) q  Market-­‐driven, first-­‐come, first-­‐served basis — as now, PLUS q  Targe5ng of sectors and policies via ring-­‐fenced budget top-­‐ups from other parts of H2020, MFF frameworks/programmes/budget lines, regions/MS, JTIs (etc), other ini5a5ves … q  Closer links with regional policy — resource pooling with MS Structural Funds foreseen in H2020, CSF (and in COSME) 20
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Accompanying measures
Examples listed in Commission’s Horizon 2020 proposal q  Technical assistance for second-­‐5er financial intermediaries (i.e. banks) q  Investment-­‐readiness (coaching) and “bankability booster” schemes q small firms: venture and other forms of investor forums, etc q large firms, PPPs, JTIs, complex mul5-­‐stakeholder projects, etc: “R&I Advisory Service” (pilot now running with EIB under RSFF) q  Awareness-­‐raising (demand s5mula5on) in under-­‐represented sectors q  Fostering business angels, crowdfunding, family offices, endowments … q  Encouraging philanthropic founda5ons and individuals to support R&I 21
Supporting the SME Instrument
q  Investment-­‐readiness and “bankability booster” schemes o  Scale-­‐up and broaden current efforts (ref. DG CONNECT) o  BIGGER: more money, more sectors, add debt finance o  BETTER: i.e., building on lessons learnt o  BOLDER: further upstream and downstream + more classes of investor involved + at least smaller midcaps q  Earmarking in Access to Risk Finance’s debt/equity budget for phase 3 graduates 22
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Link utili
Participant portal
SME TechWeb
APRE PMI
EEN
EEN Italia
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http://ec.europa.eu/research/participants/portal/
desktop/en/funding/sme_participation.html
http://sme.cordis.europa.eu/home/index.cfm
http://www.apre.it/le-pmi-in-europa/
http://een.ec.europa.eu/
http://www.enterprise-europe-network-italia.eu/
Alberto Di Minin GRAZIE PER L’ATTENZIONE
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