Investor Readiness in the Western Balkans: challenges ... · 2 Contract Research Financial...

Andrea Basso

EU4TECH, MITO

[email protected]

Eva Baltar

JRC, European Commission

[email protected]

This project is funded by the European Union and implemented by

EY / inno / T3I Ltd / MITO consortium

Investor Readiness in the Western

Balkans: challenges, opportunities

and practical experiences.

What is investor Readiness

► Minimal Viable Product (MVP)

► Strong competitive advantage

► Commercial traction

► Big and growing market

► Validated business model

► Credible and experienced team

► Able to properly present the

business idea

► Wiliness to accept investment in

exchange of equity

Characteristics that an investee should have to become an appropriate

funding opportunity (Gregory et al., 2012).



Opportunities - investments in WB

► The long-term EU perspective

► Strong macroeconomic stability

► Strategic geographic location

► Diverse economies

► Favorable tax regimes

► Low unit labor costs

► Well-educated population.


EY / inno/ T3I Ltd / MITO consortium

https://www.ebrd.com/news/2016/how-the-western-balkans-can-catch-up.html

Innovation types



Challenges in Investor Readiness in the WB

► Equity aversion: potential advantages of

equity as funding and investor knowledge.

Equity finance is only marginally used in the

region

► Fundability: capability to demonstrate a viable revenue model, market traction, IPR issues, have a competitive strategy, etc.

► Presentation skills: effectively pitch their business ideas

► Networking: matching between entrepreneurs and investors.



Investors or Entrepreneur fault?



Lack of

supply of

equity

finance

Lack of

readiness of

entrepreneurs

to attract

financing

Boosting Investor Readiness

► Capacity building

► practical training programs

► Mentoring and coaching

► Institutional commitment

► government bodies, public organizations, universities and research centers

► Coach Investors

► on the peculiarities of technology-based projects to support better informed decision making,



Overview of EU4TECH

► Key objective: “to support and strengthen the technology transfer and innovation ecosystem in the countries of the Western Balkans”

► Coverage: Albania, Bosnia and Herzegovina, Kosovo*, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia

► Duration: January 2017 – December 2019

► Contacting authority: DG NEAR with technical support from JRC

► Consortium: EY (lead), Inno, T3I, MITO Technology



People on the ground

KE1/TL

• Dr. Julia Djarova (Key Expert 1: Team Leader)

• Mobile: +31 6 2908 4883

• Email: [email protected]

KE2

• Dr Lisa Cowey (Key Expert 2 Technology Transfer Expert)

• Mobile: SR: +381 61 6468 181


• Skype: lisacowey oxford UK

• Dr. Andrea Basso (Early Stage Investment Expert)




mailto:[email protected]

Overview of the project components

Inception/ Capacity

Building Strategy 0

Tech Transfer Training 1

Contract Research 2

Financial Instruments

policy platform 4

Investor readiness

training and

matchmaking 5

S&T Parks and

Incubators 3



► Technology Transfer Offices of Universities and Public Research Organisations/ HEIs

► High technology SMEs ► Science Parks ► Incubators ► Ministries responsible for research and innovation policies ► Local and international financial intermediaries such as business

angels, venture capital firms and the private equity sector

Target Groups

The EU4TECH IR program

• holistic and lean approach focused on • Fundability

• Presentation skills

• Networking

• three specific tools: • business model canvas review (mainly for early stage and running

operations teams),

• the development or refinement of an investor pitch,

• development of an investor proposal. early stage, initial revenue generation startups, and a more articulated one for startups/SMEs in the scaling up phase.



Investment Readiness (Start-ups/ spinoffs) 5

125 35 100+

BEG

Investor mem. WS

PRN

BEG

Crowdfunding WS

Pitch WS BEG

Investor Forum



Stage of company



Andrea Basso

EU4TECH, MITO

[email protected]

Eva Baltar

JRC, European Commission

[email protected]

THANKS!





Contract Research

15 PROs

strategic plan/ road map for each

group.

instruments to accelerate and support

industry-academia collaborations

Technology transfer

For targets groups linked to the 15 PROs

2 Summer Schools on TT

Researchers

Individuals offering Tech Transfer

support

Mentoring support to CTTs (or similar)

1 support activity per country

S&T Parks and incubators

International and regional networking

Workshops/ meetings/ conferences

Regional level focus

Possible capacity building for PoC

activity

Policy Platform

Design of new regional level

instruments to support TT and

increased TRL.

Proof of concept

Seed funding

‘Blended’ instruments 3

2

4

1

Investor Readiness in the Western Balkans: challenges ... · 2 Contract Research Financial...

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