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EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh, 6 October 2005

EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh, 6 October 2005. Miguel Palacios Universidad Politécnica de Madrid (Madri+d System). 1. Introduction to the project A PAXIS success story. Stockholm. Cambridge.

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EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh, 6 October 2005

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  1. EUROPEAN INNOVATION WORKSHOP “Launching a BAN in Madrid: key learnings” Edinburgh, 6 October 2005 Miguel Palacios Universidad Politécnica de Madrid (Madri+d System)

  2. 1. Introduction to the project A PAXIS success story Stockholm Cambridge This BAN results on the close cooperation between Stuttgart and Madrid, within the SPRING II project. Stuttgart Madrid MAIN RESULTS • BAN Madri+d created and adapted to the Madrid environment. Focused on NTBF. • Big expectations among investors and project suppliers. • Started the discussion over BANs in Madrid. Subsequently 4 other BANs in the process of launching (IE, IESE, ESADE and IMADE). • First two investments already made during the summer. Other in process.

  3. Feedback Regional Environment NTBF Support Strategies NTBF Support Mechanisms Mapping of NTBF Support Strategies Intellectual Capital Analysis Mapping of Existing Support Strategies SPRING II European Benchmarking Model on MFE Location in Framework OUTPUTS • New regional BAN • New training tools • Coordination with institutions 2. Critical factorIntegration within regional development model The BAN integrates with the regional entrepreneurship support model and in that way favors high quality dealflow.

  4. 3. Key success factors and obstacles KEY SUCCES FACTORS MAIN DIFFICULTIES • PAXIS (Spring II) support: • Existing operating models • Model design methodology testing • Advice on steps to follow • Rigorous methodology and reputed implementers (credibility and weight in the region) • Integration with existing region entrepreneurship support model (idea contests, training and tutoring, integrated regional model). • Financial commitment until the model is self sustainable (estimated : 6-8 years) for operations • Convincing systematic project developers (universities, research centers) of “let-go” their projects in order for them to get financing Knowledge (PAXIS), local adaptation and implementers reputation have been critical for success

  5. 4. Next stepsSuccessfully expand the model to other European countries 1) PAXIS has made possible the development of several BANs in Madrid. There is now the potential to transfer this methodology to less advanced investment environments in Europe. 2) Guaranteeing quality deal flow is crucial for BANs. Business Plan Competitions and other measures should be studied to foster entrepreneurship in universities and research centers, wherever a BAN is implemented.

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