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ESTONIAN TECHNOLOGY AGENCY Mr. Tanel Köösel

Estonian Technology Agency. ESTONIAN TECHNOLOGY AGENCY Mr. Tanel Köösel. ENTERPRISE ESTONIA. Estonian Technology Agency. Estonian Trade Promotion Agency. Estonian Investment Agency. ENTERPRISE ESTONIA. Estonian Tourist Board. Estonian Regional Development Agency.

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ESTONIAN TECHNOLOGY AGENCY Mr. Tanel Köösel

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  1. Estonian Technology Agency ESTONIAN TECHNOLOGY AGENCY Mr. Tanel Köösel

  2. ENTERPRISE ESTONIA Estonian Technology Agency Estonian Trade Promotion Agency Estonian Investment Agency ENTERPRISEESTONIA Estonian Tourist Board Estonian Regional Development Agency EAS South Estonian Agency EAS Ida-Viru Agency

  3. ACTIVITIES AND BUDGET OF ESTAG IN 2002 New products and technologies Surveys, support for technology transfer Access to new knowledge Estonian Technology Agency Development of competence Increasing ofawareness

  4. ROLE OF ESTAG, ITS ACTIVITES AND IMPACT Growth in exports, stronger industrial base, creationof new jobs, higher welfare competitiveness profitability growth new businesses new enterprises projects and programmes international co-operation Research institutes and universities Enterprises ESTAG • provides funding and consultation • initiator • co-ordinator

  5. DATABASEHIGH TECHNOLOGY ESTONIAwww.hightechestonia.com

  6. GOAL To introduce innovative Estonian products, services and technologies to potencial foreign R&D partnerts and investors. HIGH TECHNOLOGY ESTONIA www.hightechestonia.com

  7. FINANCING AND DEVELOPMENT OF TECHNOLOGY-INTENSIVE COMPANIES Benefits from public MONEY sector investments Cash flow of a company Financing for development of business and internationalisation (private investors, banks, KREDEX, ETPA, EIA) Venture capital financing (private) TIME Venture capital financing (seed, start-up; currently not provided by the state) Funds for improvement of knowledge in business and finance (grants; ESTAG, ERDA) R&D funding (grants, loans; ESTAG) Search and identification of new ideas for start-ups(ESTAG) Applied research (ESTAG) Fundamental research (Estonian Science Fund, Science Competence Council)

  8. RESULTS OF R&D Data on changes in turnover and export as well as employment is gathered on all ESTAG projects at the initiation, launch and end.

  9. VISION OF TECHNOLOGY DEVELOPMENT – MAPPING FUTURE TECHNOLOGY NEEDS COMPANY´S GOALS MARKET NEEDS TEHNOLOGICAL CAPABILITIES Break-through technologies Key technologies Related technologies 3YRS 5YRS 7YRS 1Y

  10. STRATEGIC BASIS FOR INDUSTRY – CO-OPERATION WITH ACADEMIA INDUSTRY MODEL ACADEMIA MODEL Time and allocation of resources. Time and sources of financing. RISKS RISKS Fundamental research 1 - 20 years - Universities - Scientific institutions Research 3 - 10 years 10% of resources • Technology programmes • Technology transfer • Approx. 1 - 5 years • ESTAG • EU • - Industry • - Universities Strategic choices 2 - 5 years 30% of resources Applied research and product development Approx. 1 - 2 years - Industry - ESTAG co-operation Product development 1 - 2 years 60 - 70% of resources problems andresearch objects RESOURCES RESOURCES

  11. ESTAG – DEVELOPER OF AND PROVIDER OF FINANCING FOR JOINT R&D PROJECTS Estonian companies Foreign companies R&D FINANCING COMPETENCE Estonian universities R&D institutions Foreign universities R&D institutions

  12. oldeconomy neweconomy JOINT PROJECTS FOR INTEGRATION OF“NEW” AND “OLD” ECONOMY + EXCHANGE INTEGRATION oldeconomy neweconomy Modernisation, development of existing markets and present competitive advantages. Creation of high-tech companies, emergence of new markets and sectors, growth.

  13. STRATEGIC ACTIVITIES OF ESTAG Ensuring access to capital Co-ordination and financing of international co-operation programmes Increasing of innovation capability Development of competence Development of infrastructure Increasing of awareness

  14. R&D PROJECT FINANCING AT ESTAG

  15. R&D EXPENDITURE 1995-2006E, % OF GDP Source: Estonian R&D Strategy 2002-2006

  16. GOAL OF FINANCING The ultimate goal of the projects financed by ESTAG is the development of innovative technologies and application of those in business. As a result, efficiency and performance of the Estonian business sector will increase. ?

  17. FINANCING OF R&D IN ESTAG R&D STRATEGY Planning Application Production, marketing Development and applied research Product/process development and preparation of production Feasibility studies GRANT – 75% 75% GRANT 25% LOAN – 75% TECHNOLOGY RISK % OF SUPPORT Max Min

  18. FINANCING PRODUCTS OF ESTAG THE FINANCING PRODUCTS OF ESTAG ARE INTENDED FOR: • Execution of product development projects • Execution of applied research • Execution of feasibility studies FINANCING PRODUCTS OF ESTAG INCLUDE: • Loan for enterprises (product development - 75% of total cost of project) • Grant for enterprises (product development - 25%) • Grant for R&D institutions (applied research - 50%) • Grant for feasibility studies (75%)

  19. ESTAG FEASIBILITY STUDY GRANT • The feasibility study grantis intended for use in the process of preparation for product development and applied research projects. • The purpose of a feasibility study is to obtain information about the feasibility of a planned applied research or product development project and about the possible application of the project’s results. Feasibility studies are generally conducted over a short period and usually involve consultation by experts. • Within the feasibility study project, ESTAG can finance the compilation of a business plan or the formulation of a technology strategy for the planned project, market and patent research, preparation of an international project, elaboration of the project plan and other activities related to the preparation of a project. • ESTAG will cover up to 75% of a feasibility study´s costs (up to EEK 100,000). The total cost of a feasibility study can total up to 25% of the cost of the consecutive project.

  20. SUPPORT FOR APPLIED RESEARCH AND PRODUCT DEVELOPMENT CONDITIONS OF APPLIED RESEARCH GRANT • ESTAG can cover up to 50% of the total costs directly related to the project. CONDITIONS OF PRODUCT DEVELOPMENT GRANT • Financing: ESTAG can cover up to 25% of the total costs directly related to the project. CONDITIONS OF LOAN • Financing: ESTAG can cover up to 75% of the total costs directly related to the project. • Interest rate: 1-5% annually calculated on the basis of the loan balance • Term: up to 8 years • Grace period for the loan principle: up to 3 years • Collateral: in general no collateral is required

  21. APPLIED RESEARCH PROJECT GRANT FOR RESEARCH INSTITUTIONS • The grant for applied research projects is intended for financing applied research, the results of which can be used by Estonian industries for substantial improvement of existing or the development of new products, technologies and services. • ESTAG can finance with a grant up to 50% of the total costs related to an applied research project. ESTAG may cover up to 75% of the costs related directly to a project, if the project is compatible with EU priorities for research and development, and the project involves international cooperation between several parties. • ESTAG may cover up to 100% of the costs directly related to the project if the results of the project are available to all enterprises and individual persons on an equal basis and the project is executed for industrial purposes and in co-operation with enterprises.

  22. TARGET AREAS OF ESTAG SUPPORT Development oftechnology Large companies Research institutions, universities SMEs Research (applied research) Development of technology Product development Pilot projects Market entry = Target area of ESTAG support = Strategic direction

  23. INITIATION AND DEVELOPMENT OF PROJECTS N-phase Preliminary analysis Result III phase II phase I phase Gate Gate Gate Gate Initialresearch Detailed research Developmentof product/service Testing ofproduct/service Presentation and anchoring of product/serviceon the market

  24. DECISION-MAKING AFTER EACH PHASE Ended projects Criteria Assessment Output Continuing projects Halted projects

  25. EVALUATION OF PRODUCT DEVELOPMENT PROJECTS IN ESTAG Aggregate evaluation Product and technology Marketing Organisation and management Financing

  26. 5 MYTHS ABOUT APPLYING FORFINANCING MYTH 1 Only projects in the currently “fashionable” fields (e.g. genetics and IT) are financed. REALITY Financing of a project is determined by its quality not by its field.

  27. 5 MYTHS ABOUT APPLYING FORFINANCING MYTH 2 In order to get financed, it is enough to elaborate the scientific/technological side of the project, the rest is not important. REALITY Decision on financing is based on the aggregate rating of a project. In case important aspects of a project (e.g. financing, co-operation, management) are not elaborated, the aggregate rating will be low.

  28. 5 MYTHS ABOUT APPLYING FORFINANCING MYTH 3 The goal of the project can be e.g. an article in a scientific publication, practical application of results is not important. REALITY The goal of the projects financed by ESTAG is application of the results in business.

  29. 5 MYTHS ABOUT APPLYING FORFINANCING MYTH 4 Applied research means that the area of research is determined. What will be the result and whether there will be a result at all will be seen sometime later. REALITY The exact definition of results which the applied research will be pursuing is a precondition for receiving ESTAG financing. It may be reasonable to change the aims in the course of the applied research project! Changes in the project plan are done in co-operation with the Agency.

  30. 5 MYTHS ABOUT APPLYING FORFINANCING MYTH 5 Financing application and project plan can be submitted in any form. REALITY A financing application flooded with specific terms will not enhance the likelihood of receiving financing.

  31. EUREKA EUREKA IS A PAN-EUROPEAN CO-OPERATION NETWORK: • For promotion of market-oriented, industrial R&D • For development of international co-operation • For development of co-operation between the industry and R&D institutions EUREKA: • Co-finances international R&D projects in all European states (also in Israel, Turkey and Russia) • Co-ordinates cluster projects, which help to foster co-operation in R&D between SMEs and large companies • Co-ordinates R&D co-operation networks which function in a similar way to technology programmes

  32. ESTIRC • Enables to find technological solutions suitable to the needs of companies and scientific institutions. • Mediates technological solutions developed in companies and scientific institutions to foreign markets. • Assists in all questions related to development of technology. • Helps to increase awareness among companies and scientific institutions about EU technology and development programmes and encourages to participate in those.

  33. Estonian Technology Agency

  34. TO BRING YOUR IDEAS TO LIFE! • Consultation • Evaluation and development of ideas • Co-financing • Co-financing of projects • Partners • Estonian enterprises • Foreign enterprises • Scientific organisations • International programmes (EUREKA, IRC etc.)

  35. Estonian Technology Agency http://www.estag.ee THANK YOU! Estonian Technology Agency 11 Roosikrantsi Str, Tallinn 10119 Tel. +372 627 9700 Fax+372 627 9427 e-mail: estag@eas.ee

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