1. No category

Tekes services for young
innovative growth companies
Jukka Häyrynen
11.9.2012
Tekes
the Finnish Funding Agency
for Technology and Innovation
• Tekes services
– Funding for innovative R&D and business
– Networking
– Non-profit - takes no equity or ownership on intellectual
property.
• Customers
– Finnish and international companies located in Finland
– Universities, research institutes, hospitals etc.
• Resources
– Budget: 600 million euros annually
– Personnel: 360
– Public agency under the Ministry of Employment and the
Economy
Two thirds for enterprise R&D and
innovation projects
•Budget 2012 554M€
•Enterprises 349M€
1/3 research institutes,
universities and polytechnics
2/3 R&D&I and business
development of companies
SME’s get 70% of funding for enterprises
A significant contribution in
companies under 6 years old
n. 350M€
35 % Companies under 6 years old
35% Established growth intensive enterprises with
less than 500 employees
30 % Enterprises with more than 500 employees
Key figures 2011
Tekes funding supports other sources of
corporate funding
Stage
Funding
Seed
Start-up
Growth
Expansion
IPO
Friends, fools and family
Local gov’t support
Cash Flow
Tekes loans and grants
Angel investors
Governmental venture capital
Private venture capital
Banks
Stock exchanges
Lack of Financing
• Lack of Financing
– Limited seed and early stage financing desources
• Public sector fixes
– Tekes Young Innovative Companies
•Business development
•Growth and exports, expansion
•1.000.000 euros
–
–
–
–
Finnvera venture capital
Incentives for business angles
Vigo –Accelerators, funds
Other early stage funds
KÄYNNISTÄMINEN
KEHITTÄMINEN JA
KASVU
TUOTTEISTAMINEN KANSAINVÄLISTYMINEN
Tekes services for growth companies by
development stage
Seed
Idea
Seed,
start-up
Prototype
Start-up
Early Growth
Product 1.0
Domestic
Growth
International
Launch
Expansion
Global
Tekes research,
Tekes r&d&i
development
funding, loans
and innovation
and grantsfunding
Young
Business
Innovative
development
Growth
funding,
Companies
< 6yrs
YICold
Tekes programs and networks
bring partners, expert knowhow, leverage
Tekes programs:
Functional Materials,
Groove, Green Growth etc
Growth Channel
Global Access
Program (GAP)
VigoAccelerators
EU framework
programmes
Strategic Centres
for Science,
Technology and
Innovation (SHOK)
Young Innovative Growth Companiesprogramme
Proof of demand
1.000.000 euros
• in stages
• with milestones
Business development
From local to global
26
Funding completed
(EUR 1m)
100
Funding period active
20
Funding discontinued
A maximum of EUR 750,000
16
companies
Interim evaluation
Phase 2
Interim
evaluation
RAPID GROWTH
40 companies
Phase 1
Evaluation
panel
Advisory
business and VC
specialists
PRECONDITIONS FOR
GROWTH
49 companies
PLANNING OF BUSINESS ACTIVITIES
Preliminary
phase
A maximum
of EUR 250,000
Maximum
of EUR 50,000
26 companies have completed the YIC
project by 06/2012
• Beneq
• Visma Severa
• Confidex
• Footbalance System
• SnooBI
• Rightware
• Eniram
• Multi Touch
• Webropol
• REACHLaw
• RM5 Software
• 7signal
• Glykos Finland
• SYRINX Bioanalytics
• CEM4Mobile Solutions
• Gasera
• Applifier
• WOT Services
• Helpten
• Nidecon Technologies
• Aito Technologies
• Mendor
• Raised venture capital in total of over 80M€
•3x Tekes funding to these companies 2004-2010 (24M€)
• Tripled the composite turnover during YIC funding (15M€ ->
53M€).
Rahoitusta nuorille kasvuyrityksille
myönnetty vuonna 2011 n. 50 milj. €
60 000 000
50 000 000
NIY-esivaihe
16
40 000 000
30 000 000
13
9
T&K-rahoitus
20
M€
NIY -rahoitus
20 000 000
10 000 000
5
17
M€
19
M€
33
M€
2009
2010
2011
0
2008
NIY-rahoitusta saavat ja/tai Vigo-yritykset
08/2012
Vigo accelerators
• Experienced entrepreneurial
teams advice young innovative
companies that have
international potential and urge
to grow
• Vigo-program combines
– Innovative business ideas
– Seasoned international business
experience
– Private and public sector
funding.
• The companies in accelerators
have a fast track to YIC funding
when mature enough
• Cleantech Invest
• Gorilla Ventures
• Innovatum Partners
• KoppiCatch
• Lifeline Ventures
• Newentures
• Royal Majestic
• Vendep
• Veturi Venture Accelerator
Vigo Accelerators
– Unique public & private partnership
ICT, media
Cleantech
Bio
Design
Innovatum Partners
Accelerator services
Management fee
Start-up companies
Grants &
loans
Equity
Financed by Tekes, Finnvera + Vigo funds and other private investors
Tekesin rahoitus bioalan yrityksiin
vuositasolla 200745
40
35
30
25
yrityksiä kpl
20
M€
15
10
5
0
2007
2008
2009
2010
2011
1H 12
• Rahoituspäätökset keskimäärin 400-800 k€, muutama 1M€+
• Yrityskoko micro, pieni tai pk (muuttama päätös isoille)
• Projektit usein suhteellisen pitkiä, 1-2 v
Life Science
companies in YIC
funding scheme
• BCB Medical Oy
• Faron Pharmaceuticals Oy
• Glykos Finland Oy
• Medeia Therapeutics Oy
• Medisapiens
• MetGen Oy
• Mendor
• MSCHIC Cosmetics
• Northforce
• Onbone Oy
• Oncos Therapeutics Oy
• Oy Fennopharma Ltd
• PlexPress Oy
• StatFinn Oy
• SYRINX Bioanalytics Oy
• Valkee Oy
• Zora Biosciences Oy
Tekes funding for YIC companies in LifeScience sector,
until 05/2012
12
9 000 000
8 000 000
10
7 000 000
6 000 000
5 000 000
11
4 000 000
6
3 000 000
6
4
2 000 000
1 000 000
3
2
0
2005
2006
2007
2008
2009
2010
2011
2012
Thank you!
[email protected]
Phone: +358 50 557 7970