GENERAL SECRETARIATFOR RESERCH AND TECHNOLOGY

CREATION OF SPIN-OFF COMPANIES

PROGRAM “PRAXE”

VASSILIS KALERIDIS

DIRECTORATE OFTECHNOLOGICAL DEVELOPMENT

DEPARTMENT OF TECHNOLOGICAL INFORMATION, TRAINING AND CULTURE

SPIN-OFF COMPANY DEFINITION

ΟECD DEFINITION : “…any new firm which includes a public sector or university employee as a founder…”

GREEK INTERPRETATION:

1. RESEARCHERS FROM GREECE OR ABROAD

WHO HAVE THE KNOW-HOW FOR THE CREATION OF NEW PRODUCTS AND SERVICES BASED ON SCIENTIFIC RESULTS

2. PUBLIC INTITUTIONS PROMOTING KNOWLEDGE

(universities, technological institutions, research institutions)

PROGRAMME:PRAXE

SUPPORT OF RESEARCH UNITS FOR STANDARDISATION AND COMMERCIAL

EXPLOITATION OF RESEARCH RESULTS.

TWO PHASES ARE INCLUDED: PHASE Α’ : INVESTMENT PREPARATION ACTIVITIES PHASE Β’ : INVESTMENT INITIATION ACTIVITIES

LEGAL FRAMEWORK PRESIDENTIAL DEGREE 17/2001 and LAW 2919/01 PHASE A’ FOLLOWS DE MINIMIS RULE. PHASE Β’ FOLLOWS STATE AID N.412/2002

APPROVED BY THE EUROPEAN COMMITTEE (SG(2002) D/232893).

STATUS THE RESEARCH RESULTS CANNOT

BE TRANSFORMED IN INNOVATIVE PRODUCTS OR SERVICES

REASONS:

NO LEGAL FRAMEWORK LACK OF ENTERPENEURIAL MENTALITY AMONG GREEK

RESEARCHERS ΕXTREMELY HESITANT FINANCIAL MARKET INCLUDING

VENTURE CAPITALS

PUBLIC EXPENDITURE BUDGET PHASE A’ : 9.000.000 € (100% public expenditure) PHASE Β’ : 30.580.000 €

• 10.580.000 € (1st round) [expired 31/12/2004]

• 20.000.000 € (2nd round)

SCHEDULE FOR PHASE B’ NEXT ROUND

BASIC INFORMATION ON GSRT SITE SINCE APRIL 2005 CALL FOR PROPOSALS - BY THE END OF JUNE 2005 EXPIRY OF THE CALL - 20/9/2005 EVALUATION - ΟCTOBER 2005 CONTRACTS – ΝΟVEMBER 2005 1ST INSTALMENT - DECEMBER 2005

TOTAL BUDGET

70.160.000 € PUBLIC & PRIVATE EXPENDITURE PUBLIC EXPENDITURE 39.580.000 € PRIVATE EXPENDITURE > 30.580.000 €

70 % OF THE PUBLIC EXPENDITURE

FINANCED BY EUROPEAN FUND FOR REGIONAL DEVELOPMENT (E.F.R.D.)

PROGRAM DETAILS

PHASE Α’SEED CAPITAL(FEASIBILITY

OF A SPIN-OFF COMPANY CREATION)

UP TO 44.000 €DURATION: UP TO 18 MONTHS

PHASE Β’INVESTMENT INITIATION(ESTABLISHMENT OF A SPIN-OFF COMPANY)UP TO 1.000.000 €PUBLIC SUBSIDYWITH - AT LEAST - EQUAL PRIVATE PARTICIPATIONDURATION: UP TO 36 MONTHS

MAIN ACTIVITIES OF PHASE A’ BUSINESS PLAN CREATION INTELLECTUAL RIGHTS FORTIFICATION PROMOTION OF THE RESEARCH RESULT

(PARTICIPATION AT EXCIBITIONS, PUBLICITY ACTIVITIES ETC)

PERFECTION OF PRODUCTS OR SERVICES AESTHETIC AND INDUSTRIAL DESIGN OF PRODUCTS AND

SERVICES

SEARCH FOR FINANCIAL CONTRIBUTORS AND INVESTORS

MAIN ACTIVITIES OF PHASE B’

FINANCES THE ESTABLISHMENT OF THE SPIN-OFF COMPANY FOR THE FIRST 3 YEARS OF THEIR DEVELOPMENT:

EXPENDITURE FOR EQUIPMENT AND OFFICES CONSULTANCY SERVICES (ONLY FOR SMEs SPIN OFFS) AND NECESSARY OPERATING COSTS (ONLY FOR SMEs SPIN OFFS )

TARGETS & RESULTS

PHASE Α’ :

210 PROJECTS

PHASE Β’ :

>30 SPIN-OFF

COMPANIES

226 HAVE BEEN FINANCED

BY THE END OF THE 1st ROUND

16 HAVE BEEN APPROVED

8 HAVE BEEN FINANCED

PHASE A’ACCEPTED PROJECTS PER SCIENTIFIC SUBJECT

INFORMATICS 35 MECHANICS 33 MEDICINE / BIOLOGY 29 PHARMACOLOGY 25 MATERIALS 19 ENVIRONMENT 15 FOOD / AGRICULTURE 14 BIOMEDICAL / BIOMECHANICAL

ENGINEERING 12 MICRO / NANO TECHNOLOGY 11

PRAXE A’ACCEPTED PROJECTS PER GEOGRAPHICAL DISTRICT

ATTICA 118 CRETE 34 WESTERN GREECE 28 CENTRAL MACEDONIA 23 THESSALY 6 EPIRUS 5 PELOPONNESE 4 THRACE 4 CENTRAL GREECE 2

PHASE B’ACCEPTED PROJECTS PER SCIENTIFIC SUBJECT

INFORMATICS 6 ΕNERGY 3 BIOMEDICAL TECHNOLOGY 2 MEDICINE 2 LASER 2 AGRICULTURAL TECHNOLOGY 1

PRAXE B’ACCEPTED PROJECTS PER GEOGRAPHICAL DISTRICT

ATTICA 12

CENTRAL MACEDONIA 3 EPIRUS 1

TWO PHASE LINKAGE

UP TO THE END OF THE 1ST ROUND

9 BETWEEN 16 APPROVED SPIN-OFF COMPANIES STEM FROM PHASE A’

SEVERAL SPIN-OFF COMPANIES ALREADY EXIST WITHOUT PARTICIPATING IN PHASE B’

SIGNIFICANT INTEREST ABOUT THE 2ND ROUND OF PHASE B’

COMPARISON TO SIMILAR PROGRAMSIN E.U.

DOMINANT FEATURE : SPIN-OFF COMPANIES BY UNIVERSITIES

308 SIMILAR PROGRAMS AROUND E.U. «SWEDISH MODEL» : PLANNING AND IMPLENTATION

OF SPIN-OFF COMPANIES BYPREFECTURES OR EVEN BY MUNICIPALITIES!

ΕMPHASIS TO “NETWORKING”, MENTORING AND SPECIAL MANAGEMENT TRAINING TO RESEARCHERS AND GRADUATES

GSRT OBJECTIVES BY IMPLEMENTING PRAXE

BUSINESS PLANS PROJECTS FOR POSSIBLE SPIN-OFF COMPANIES BY RESEARCHERS AND RESEARCH INSTITUTES

JOB CREATION FOR HIGH-LEVEL SCIENTIFIC PERSONNEL

RESULTS – DRIVEN ORIENTATION OVERALL IMPACT OF THE PROGRAM COOPERATION OF STAKEHOLDERS OF THE GREEK

INNOVATION SYSTEM

GSRT OBJECTIVES BY IMPLEMENTING PHASE B’ (2ND ROUND)

INNOVATIVE IDEAS WITH ADDED VALUE INTELLECTUAL RIGHTS AND EXPLOITATION RIGHTS

OF THE RESEARCHERS COMPLETE AND REALISTIC BUSINESS PLANS EFFICIENT SCIENTIFIC AND MANAGERIAL STAFF

VIABLE KNOWLEDGE INTENSIVE SMEs AFTER THE EXPIRY OF THE PROGRAM