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F INANCING THE KNOW- HOW TRANSFORMING RESEARCH RESULTS INTO PROFITABLE BUSINESSES

F INANCING THE KNOW- HOW TRANSFORMING RESEARCH RESULTS INTO PROFITABLE BUSINESSES. Yolanda Falcón García Unirisco Galicia. INDEX. Venture Capital activity in Spain Experience of the Galician Universities in Seed Capital: UNIRISCO GALICIA

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F INANCING THE KNOW- HOW TRANSFORMING RESEARCH RESULTS INTO PROFITABLE BUSINESSES

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  1. FINANCING THE KNOW- HOW TRANSFORMING RESEARCH RESULTS INTO PROFITABLE BUSINESSES Yolanda Falcón García Unirisco Galicia PAXIS PROJECT

  2. INDEX • Venture Capital activity in Spain • Experience of the Galician Universities in Seed Capital: UNIRISCO GALICIA • A national model of University Venture Capital : UNINVEST. PAXIS PROJECT

  3. VENTURE CAPITAL IN SPAIN. (some data) Total amount invested ( thousands Euros ) PAXIS PROJECT

  4. VENTURE CAPITAL IN SPAIN. (some data) Average investment per transaction (thousands Euros) PAXIS PROJECT

  5. VENTURE CAPITAL IN SPAIN. (SOME DATA) Stage distribution of investments by number of investments 1º semester 2004 PAXIS PROJECT

  6. VENTURE CAPITAL IN EUROPE Investment breakdown per development stage year 2004 PAXIS PROJECT

  7. UNIRISCO GALICIA, S.C.R. .S.A. • Venture Capital Society promoted by three Galician universities. • Aimed at investments in projects arose in the university community. • Covers the financial gap of small/medium-sized projects. • Search of an alternative to the university technology transfer mechanisms. PAXIS PROJECT

  8. What does Unirisco do ?. • Participates temporarily in the capital of the company • Shares business risk granting participation loans • Provides assessment services to participated companies PAXIS PROJECT

  9. Sources and Shareholders (*) Universities :Santiago, Vigo and A Coruña PAXIS PROJECT

  10. Some investments GALCHIMIACustom synthesis for the pharmaceutical and chemical industry. USC ADVANCELLDevelopment and application of in vitro cellular technology and pharmaceutical nanotechnology for research of active principles, medicines, cosmetics and biotech. Univ. ofBarcelona, Valencia and USC. KERAMATDevelopment and manufacturing of ceramic biomaterials for human use as osseous implants (traumatology, neurosurgery).USC IMMUNOSTEP Development and manufacturing of reagents for biomedical and biotechnological research and clinical diagnostic using flow cytometry.CIC. USAL PAXIS PROJECT

  11. Conclusions Unirisco’s regional experience • Need of a specific spin-off financing mechanism. • Will of institutional cooperation: universities, business groups and financial institutions. • Renunciation to a local behaviour. • Need to work with a critical mass of business projects: national field. • Demand of financing for projects of other Spanish universities. PAXIS PROJECT

  12. A national model of University Venture Capital • Need of reaching a critical mass of projects/ Universities. • Promote the OTRIs as tools of business and technological promotion. • To exchange experiences in the area of setting up technology-based companies. • To share a network of technological analysts. • To share a specific financial mechanism for academic “Spin-Offs”. PAXIS PROJECT

  13. A National model of University Venture Capital UNINVEST, SGECR, S.A. • UNIRISCO Galicia • Universities (promoters) • ENISA (MINISTRY OF INDUSTRY) I+D UNIFONDO, FCR • Shareholders • Institutional investors • CDTI and European Investment Found (negotiating) To manage the Found assets. To finance technology-based companies PAXIS PROJECT

  14. Uninvest Shareholders • UNIRISCO Galicia • Universidad de A Coruña • Universidad de Santiago • Universidad de Vigo • Universidad de León • Fundación Universidad de Valladolid • Universidad de Salamanca • Fundación Torres Quevedo Universidad de Cantabria • Universidad Carlos III de Madrid • Parque Científico de Madrid (Autónoma y Complutense) • Universidad de Valencia 16 universities + CSIC Universidad Politécnica de Valencia Fundación Universidad de Alicante Universidad Miguel Hernández (Elche) Universidad de Extremadura Universidad de Cádiz Consejo Superior de Investigaciones Científicas Empresa Nacional de Innovación (ENISA – Mº de Industria) PAXIS PROJECT

  15. What is Unifondo I+D ? • Venture capital found managed by UNINVEST to invest in the capital of companies based in know- how and technologies developed in the Spanish Universities. PAXIS PROJECT

  16. Investment Policy • Financing the establishment and development stages of the companies. • To help in the search of additional financing (loans, grants, ..) • To provide assessment services to the participated companies • To provide advice in the technological transfer process. PAXIS PROJECT

  17. Investment Policy BUSSINESS INITIATIVES WHICH: • Use know- how and technologies developed in the Universities. • Promoters involved in the business initiative. • Are based on a high technology component. • Have a rapid growth. PAXIS PROJECT

  18. CONTACT DATA UNIRISCO GALICIA, S.C.R. S.A. Edificio CACTUS Campus Universitario SUR 15782 – Santiago de Compostela Tel.- 981 54 70 44 / 981 56 31 00 ext. 16250 Fax.- 981 54 70 77 e-mail.- cittjlm@usc.es PAXIS PROJECT

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