1. How to succesfully obtain a Valorisation Grant October 11 th, 2012 Stefan Jongerius Wouter Segeth

2. Img src: www.technologie.at Mission STW Est. 1981 Enabling knowledge transfer between technology driven sciences and its potential users 1. By financing excellent applied scientific research 2. By uniting scientists and potential users in research

3. Current relations 500 projectleaders 750 researchers 600 companies in user committees 2500 actual user relations 50 fte STW office employees

4. Participation knowledge-institutions in STW-programs (OTP, Perspectief & Vernieuwingsimpuls) based on running projects in 2009 Universities involved

5. Topsectors Percentage relevance topsectors based on STW projects

6. STW network Bubblechart STW network; size indicates number of proposals; relative distance indicates collaboration

7. STW budgets Yr. 2011 income expenses 10,5M NWO otherVernieuwingsimpuls 31,7M Open Technology ProgramNWO, OCW basic funding 23,0M Perspectief EL&I 9,5M Partnership & Valorisation Grant Co-finance & transfer fees € 74,7M

8. STW Instruments Open Technology Programme Technology driven research projects Size: ≤ 750 k€ per project In-cash and/or in-kind contributions from users Perspectief Technology driven networks ≥ 3 universities Size: 2 - 7,5 M€ per programme Valorisation Instruments Valorisation Grant Demonstrator Stimulation commercialisation of research results Partnerships Demand-driven programmes 50% in-cash contributions from industry Size: ≤ 3 M€ per partnership Vernieuwingsimpuls (NWO) Individual research grants Size ≤ 1,5 M€ per proposal

9. Financing valorisation Fundamental Research Applied Research Transition Market entry Market expansion Banks Venture Capital Industry Angel Investors Industry Government Funding intensity Funding gap Valorisation Grant Partnership OTP Perspectief Demonstrator

10. Proof-of-Principle Proof-of-Concept PrototypePre-seriesProduct Private Public Research OTP Perspectief HBO RAAK Research OTP Perspectief HBO RAAK Result Sales Valorisation Grant Start-Up & SME Active entrepreneur Industry & SME Promising result Demonstrator STW valorisation Industry & SME Active user Knowledge transfer

11. Phase 1: Feasability study Grant up to 25.000€ To prove the technological and commercial feasibility Phase 2: Valorisation Grant up to 200.000€ Transition from public research to private business Phase 3: Commercialization Business running Private funding Valorisation Grant

12. STW Valorisation Grant Started in 2004. This program closely resembles the American Small Business Innovation Research program (SBIR). The main objectives of the Valorisation Grant are: To transfer university knowledge into business to existing SME companies to new companies To strengthen the innovation power of SME high-tech innovations

13. Valorisation Grant Phase 1: Feasibility study to show technical feasibility to show economical / commercial feasibility maximum: 25.000 euro Phase 2: Valorisation phase proof of concept to raise venture capital to serve first customers maximum: 200.000 euro Phase 3: Commercial phase fully commercial operating company privately funded, no public funding Public Private

14. Valorisation Grant Who can apply? Only university employees can apply However… The applicant can use the grant to start-up a company or to cooperate with an existing SME The advantage Stimulates university employees to start business activities Universities becomes much more involved in innovative SME activities

15. Facts Valorisation Grant Yearly budget: 3-4 million euro 2 calls a year Open call, no themes. One big competition. Every applicant gets interviewed by a experienced panel of entrepreneurs, private bankers and scientists STW is willing to transfer or license IP to company for market price

16. Facts Valorisation Grant VG 2004-2010 Phase-1Phase-2 SubmittedGranted Submitted Granted Life Sciences 148604516 High-tech systems 127593720 ICT 80312615 Chemistry 311614 4 Total 38616612255

17. Impact Valorisation Grant VG performance indicator Companies Phase 2 start-up SME 52 (96%) 2 (4%) Follow-up appplication phase 1 ► phase 1 phase 1 ► phase 2 phase 2 ► phase 3 43% 45% 50-75%

18. Valorisation Grant start-ups

19. Findings so far The motivation at the university to develop your own business is high. The entrepreneurial skills at the universities can be improved. The incubator facilities at the universities make Valorisation Grant projects more successful Low-entrance private seed capital makes the continuation into phase 3 relatively easy.

20. How to write a VG phase 1 application Content 1. Contact details 2. Business idea 2.1The problem 2.2The proposed solution 2.3Innovative aspects 2.4Commercial aspects 2.5The IP position 3. Project plan 3.1The aim of the project 3.2Description of work 3.3Milestones, time schedule and cost indications 3.4The project team 4. Budget plan Evaluation criteria: Technological innovation (1x) Market potential (1x) Project plan (1x) The team (1x)

21. How to write a VG phase 2 application Content 1. Contact details 2. Business development plan 2.1The business idea 2.2The product development plan 2.3Market and competition 2.4Business organisation 2.5IP position and strategy 3. Project plan 3.1The aim of the project 3.2Description of work 3.3 Milestones and time schedule and cost indications 3.4 The project team 4. Budget plan Evaluation criteria: Technological innovation (1x) Market potential (1x) Project plan (2x) The team (2x)