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Summit on Innovation National Science and Technology Council Washington, DC November 30, 1999

TECHNO VENTURE MANAGEMENT. Summit on Innovation National Science and Technology Council Washington, DC November 30, 1999 Dr. Peter L. Levin TVM Techno Venture Management. www.tvmvc.com. TVM Techno Venture Management. Offices in Munich & Boston

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Summit on Innovation National Science and Technology Council Washington, DC November 30, 1999

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  1. TECHNO VENTURE MANAGEMENT Summit on Innovation National Science and Technology Council Washington, DC November 30, 1999 Dr. Peter L. Levin TVM Techno Venture Management www.tvmvc.com

  2. TVM Techno Venture Management • Offices in Munich & Boston • Founded in 1984; TVM I, TVM II, TVM III, TVM IV funds • 160+ investments in D, USA, F, CH, UK, A, E • 40+ IPOs • Have built 22 international companies • $480 million under current management Page 2 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  3. TVM Focus • Information Technology • Software • Computer - Network Components and Systems • Telecommunication • IT-Services and E-commerce • Life Sciences • Genomics and Chemistry • Drug Delivery Systems • Tissue Engineering and Replacement Medicine • Bioinformatics Page 3 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  4. TEAM MARKET DEAL FINANCE IDEA What Venture Capitalists Look For • MARKET • large and growing space • few or no incumbents • typically non-branded products • and services • intelligent, adaptable positioning • channel occupation/expansion • TVM brings strategic value, • especially for trans-Atlantic • opportunities • TEAM • expertise • experience • prior success • structure • leadership, management, • and technical positions • advisory board and • external relationships • IDEA • represents dramatic technical • improvement or innovative • constellation of services • reasonable barrier to entry fortified • by intellectual property protection speed to market • complements or enhances existing products available • from large suppliers • scalable • FINANCE • sensible valuation, reasonable • terms • sustainable burn rate • clearly defined, achievable • milestones • qualified syndication partners Page 4 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  5. design manufacture integration assembly Levels of Innovation, and Government’s Role components The design, prototyping, manufacture, distribution and even sales at different levels of hierarchy are increasingly facilitated by ubiquitous and inexpen- sive electronic networks. devices systems networks services phone radio tv e-print e-com Government regulation of access and licensing, facilitation of standards and technical performance requirements. Government protection of fair market access, intellectual property, transparent tax structure and product safety. Page 5 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  6. Where Government and VC Drive Innovation Universities Corporate Labs Entrepreneurs Government Labs Research Investments Education NEWIDEAS • Protection of intellectual • property • Equal opportunity to • access markets • Regulation, taxation, and • product safety • Commercialization and • technology transfer • Forming relationships • and alliances that enable • new market entrants • Help create new sectors Exchange of Goods & Services Public sector procurement Advanced IT services Demand Page 6 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  7. Sustained Opportunities in the “New Economy” Information Infrastructure Public Health National Security Page 7 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

  8. Incentives for Innovation • Infrastructure • vibrant and active centers where new ideas can be developed and explored; training new participants • Technology transfer mechanisms • access to publicly funded break throughs, transparent and enforceable regulations that promote innovation and protect public interest • Commercial access • fair and transparent negotiations with incumbent owners of wire-line assets; US access to foreign markets Page 8 Washington - White House - 29 December, 1999 - Peter Levin www.tvmvc.com

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