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Surfing the Green Wave How Europe can build an ecosystem to turn our
carbon addiction into new business
Frans Nauta Global Clean Tech Finland
9 September 2015, Helsinki@fnauta
sanderijn cels jorrit de jong frans nauta
Agents of Change
strategy and tactics for social innovation
Surfing theGreen Wave
2008 2012 2016
Climate-KIC Accelerator
Data points
• Started in 2012
• 13 cities in CH, D, DK, F, H, I, NL, UK, PL, SP
• 164 teams entered accelerator 2014
• Circa 40% make it to Stage 3
• Portfolio has attracted > 100 M€ in funding
Talent &
Knowledge
Business Smart Money
Government Policy
Interaction
Talent &
Knowledge
Business Smart Money
Government Policy
Interaction
1891
1939
Fred Terman @ Stanford
Talent &
Knowledge
Business Smart Money
Government Policy
Interaction
1891 1941
1951
1939
Talent &
Knowledge
Business Smart Money
Government Policy
Interaction
1891 1941
1951
1939 1958
Talent &
Knowledge
Business Smart Money
Government Policy
Interaction
1891 1941
1951
1939 1958
1
5
4
3
2
Five ecosystem issues
• Lack of startup culture in academia
• Startup acquisition by corporations
• Government funding beyond paper
• EU Venture Capital
• Leadership issue
1
3
2
4
5
Slush EU for Clean Tech1
Less R&D subsidies2
years to market ➡
R&
D foc
us ➡
5 10 15 20
Corporations GovernmentR&D Time Horizon USA Corporations
1970
1980
19902000
years to market ➡
R&
D foc
us ➡
5 10 15 20
US Corporations Government
R&D Ecosystem USA
US Venture Capital
years to market ➡
R&
D foc
us ➡
5 10 15 20
EU Corporations Government
R&D Ecosystem EU
EU Venture Capital
Action funding3
Action funding3
Time for EARPA
• Funding for action
• Challenges model
• Bringing in the best & brightest
• And then kick them out again
➡ Revolving door policy
VC asset class
Bill
ion
$
0
1000
2000
3000
4000
5000
2009 2010 2011 2012 2013 2014
EU+IS North America Rest of World
Source: Clean Tech Groep, I3 database, 2014
4
Israel’s ‘Fincubator’
• Incubator combined with investment fund
• 100 k€ VC, 500 k€ government funding, 30%
• Tender process
• 23 Fincubators
- Market focus
- Regional spread
➡ Corporates are getting in on the action
Existential threat & vision = great things
• USA - 40ies R&D War
• Netherlands - 50ies Water management
• Israel - 50ies Defense
• USA - 60ies Moonshot
• Denmark - 70ies Wind power
• Germany - 80ies Green energy
5
Politicians are like VC’s
Summarized
• Slush for Clean Tech
• Less R&D subsidies
• Action funding - EARPA
• Fincubators
• Much better sales
1
3
2
4
5
Thank you for your attention
@fnauta