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Planning InnoFun Pilot Actions

Planning InnoFun Pilot Actions. InnoFun - The innovative project WS 3 27 th September 2013 Nicosia. Benjamin Kuscher InnoFun Project Manager ConPlusUltra GmbH Benjamin.kuscher@conplusultra.com. Overall Themes of Pilot Actions. start-up - investor matching

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Planning InnoFun Pilot Actions

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  1. PlanningInnoFunPilot Actions InnoFun - The innovative project WS 3 27th September 2013 Nicosia Benjamin Kuscher InnoFun Project Manager ConPlusUltra GmbH Benjamin.kuscher@conplusultra.com

  2. Overall Themes of Pilot Actions start-up - investor matching decision process in funding schemes Research - business matching Bring Innovation to society and society to innovation

  3. Budget for each Pilot action

  4. Presentation of envisaged Pilot Actions

  5. Pilot Actions Design of a presentation deck for business plans by pitching methods to gain invest money more effectively. PP1 – JAIP Radek Novotny

  6. Status Quo situation • Despite the invest money are a commodity and business (innovative) idea is unique, the status of innovators in front of investors are opposite. • Entrepreneurship education in the South Bohemian Region is focusing on preparation of business plan only. • Innovation (start up) is a long distance journey and the most important than facts, details and numbers is social overlay between team and investor, therefore pilot action is dealing with a course focusing on pitching methods and DigitalStorytelling, which will be testified on the participants of the course “Entrepreneurship” at the Economy Faculty of SBU.

  7. Changed situation after the Pilot Action • By realisation of a pitching course and DigitalStorytelling will JAIP get complete study material (book, videos, practical examples) to provide this course (in classic and online form) for entrepreneurs and enterprises of SB region in the future. • Implementing of pitching into presentation of innovation (business) idea will increase the effectiveness of innovation fundraising of start-ups. • The target of pilot action are participants of the course “Entrepreneurship“ opened at the Economic Faculty of South Bohemian University and concrete outputs are presentation of student's startups prepared for pitching in front of investors.

  8. Activity plan: what-when-how • Pilot action (9/2013-2014) • Prepared materials for student lessons • Course will be running since October this year • Next semester - exercises and presentation of student projects through pitching methods to investors • Plus one seminar for teachers • Field mission (2014) • Presenting outputs of the pilot action • Lecture on pitching or start-up-investors matching • FUN trip to some interesting innovation facility

  9. Pilot Actions Funding Websites PP3 – UCY George Papadopoulos

  10. Status Quo situation Pleasemakeshortdescriptionofyour regional status quo situationwhichmakesyourplanned Pilot actionnecessary & meaningful: whichproblems /weaknesses / obstaclesetc do yourregioncurrentlyface? Cyprus suffers from the lack of available funding information through websites and portals Interested businesses and individuals are not being easily and on-time informed about available funding schemes: they are not able to successfully apply for funding Such websites if existed would aggregate and offer all available information about Funding Schemes Policies Events Relevant documents and other useful websites People to contact with

  11. Changed situation after the Pilot Action Please make short description of your expected changed situation after having conducted your pilot action: what will be changed? How will the change improve the regional situation? Who benefits from the pilot action? What will be the output? What is the target of your pilot action? What is the concrete output of your pilot action.... The lack of information and availability of funding issue in Cyprus will be addressed Before: Interested businesses and individuals not being easily and on-time informed about available funding schemes: not able to successfully apply for funding After: Interested businesses and individuals will be easily and on-time informed about available funding schemes by: Accessing the developed portal/website Have access to aggregated information regarding funding schemes, policies, relevant events, documents, other useful websites and people to contact with Result: able to successfully apply for funding and easily prepare the application

  12. Activity plan: what-when-how Please summarise your main planned activities including the field mission (what –when- how…) Main Planned Activities: Design a portal or website appropriate for Cyprus - but on the same time could be applied and used by other countries as well Provide the requirements that must be met in order to solve funding related communication and information aggregation issues in Cyprus Gathering all the appropriate information that should be included in the website/portal, e.g.: links to corresponding webpages of the Cyprus Ministry of Commerce and Tourism website links to appropriate information displayed on the website of the Cyprus Research Promotion Foundation (the website is currently extremely hard to explore and find information in) Provide technical support in the development of the website/portal Initial action: design draft on InnoFun web page Then: develop portal Translation into local languages may be required Intellectual property issues may arise

  13. Pilot Actions Bridge The Gap PP6 – Opportunity Peterborough Steve Bowyer

  14. Status Quo situation Please make short description of your regional status quo situation which makes your planned Pilot action necessary & meaningful: which problems /weaknesses / obstacles etc do your region currently face? Lack of Web Portal to match innovators with investors Lack of quality training to help companies become investor ready and more successful in attracting finance for innovation and growth Lack of local innovation/business growth advice Little opportunity for innovators to meet funders Lack of pitch expertise and use of digital media

  15. Changed situation after the Pilot Action Please make short description of your expected changed situation after having conducted your pilot action: what will be changed? How will the change improve the regional situation? Who benefits from the pilot action? What will be the output? What is the target of your pilot action? What is the concrete output of your pilot action.... Web Portal established to match innovators with investors Investor readiness training workshops for local companies and workshops for public sector investors to better understand local businesses Local innovation expert consultancy, Meet the Investor events , Pitch Training and creation of at least 20 videos

  16. Activity plan: what-when-how Please summarise your main planned activities including the field mission (what –when- how…) Existing Stakeholder Group to help design web portal, format of investor- readiness training and content of innovation expert consultancy. External expert procurement to design web portal and deliver training Plan for Future City Demonstrator to fund additional innovation expert consultancy, a meet the Investor event and pitch training/video production Peterborough Field Mission Spring 2014

  17. Pilot Actions Digital pitching PP7 – KTUAS Antti Haase

  18. Status Quo situation Pleasemakeshortdescriptionofyour regional status quo situationwhichmakesyourplanned Pilot actionnecessary & meaningful: whichproblems /weaknesses / obstaclesetc do yourregioncurrentlyface? Companies lack competences and funding to present their innovations to financiers in appealing and quick ways using audiovisual elements and digital distribution In addition to scarcity of private funding in the region, it is hard to get feedback on innovations directly from end-users (e.g. crowds) Financiers find it hard to understand technically complex innovations with just text based descriptions Lapland is far from the financial centre of Helsinki: it is hard to contact and network with financiers due to long distance

  19. Changed situation after the Pilot Action Please make short description of your expected changed situation after having conducted your pilot action: what will be changed? How will the change improve the regional situation? Who benefits from the pilot action? What will be the output? What is the target of your pilot action? What is the concrete output of your pilot action.... We have created at least 5 pitch videos for innovative companies in the region We have created and researched cost-effective models for producing and delivering digital pitches to financiers (including crowdfunding and feedback from crowds) Ideally there is a company (or as part of KTUAS R&D services) offering these services to regional companies Our services and/or models are integrated to Kemi-Tornio Incubators’ activities (eg. as part of WellCome package) and/or ELY-Keskus Product Track

  20. Activity plan: what-when-how Pleasesummariseyourmainplannedactivitiesincludingthefieldmission(what –when- how…) Making pitch videos for most innovative companies in Kemi-Tornio Incubator and ELY-Keskus Product Track: 1 video in 2012, 3 videos in 2013, 1 video in 2014. Researching and exploringcost-effectiveways to make and digitallydeliveringpitchvideos: on-going 2012-2014 Gainingcomptencesbyorganising and participating in training session on pitching, visualizations, crowdfunding and business storytelling: August 2013 (visualizationcourse), others in March-October 2014 Organisingfield mission to Lapland in June 2014

  21. Pilot Actions Access to Public / Private Funds PP9 – MediteraneeTechnologie Rodolphe Uhlmann

  22. Status Quo situation Cycle Time for Access to public funds very long Cycle Time to access to PP Funds (Risk Capital) too important Increasing demand for Risk Capital funds Existence of video pitching local initiative in incubation environment

  23. Changed situation after the Pilot Action Reduce cycle time for access to Risk Capital funds Generalize a video pitching service with the aim to promote products but also to present the company

  24. Activity plan: what-when-how Call for proposal : PACA Innovation members will build consortiums to propose a platform for video pitching service (Q4/13) Make at least 10 video pitches and post them to a platform (Q1/14) Shape and design a new service for regional SMEs : A platform for video pitch (Q2-Q3/14) Business plan / Storytelling / Video making Organize in Q4/13 a seminar on video storytelling with benchmark and good practices

  25. Let‘s innovate the innovation funding Benjamin Kuscher ConPlusUltra GmbH Benjamin.kuscher@conplusultra.com

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