1. Funding Structures some ideas for designing innovative funding instruments Brigitte Hatvan

2. Overview Demand for finance Public funding / private investment Framework conditions for innovation funding Some conclusions for project work

3. Demand for finance / firms seeking finance, EU 20 Source: Entrepreneurship at a Glance 2012 - © OECD 2012, own presentation

4. Demand for finance / firms seeking finance, EU 20 Source: Entrepreneurship at a Glance 2012 - © OECD 2012, own presentation

5. Financing innovation – public funding OECD: Measuring Innovation: A New Perspective, 2010, http://www.oecd.org/innovation/strategy/measuring

6. National vs. regional public investment

7. Financing innovation – venture capital funds Venture Capital tends to concentrate on a few sectors at a time Good performance of the VC sector requires a market for small and new firm stocks (IPOs) in order to provide an exit strategy for early stage investors

8. Financing innovation – private investors

9. Enlargement of innovation concept / target groups applied research innovation basic research market introduction Complexity of multi-level innovation policy regional level EU policies, strategies, programmes national level Differentiation of institutions / stakeholders and their roles Non-institutional stakeholders and service providers Funding institutions Intermediary agencies Framework conditions for innovation funding

10. Designing an innovative funding instrument Target group orientation Thematic focus Communication tool Risk management Role definition in funding process

11. LOOKING FORWARD TO INTERESTING DISCUSSIONS …