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

info@eban.orgwww.eban.org