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EUROPEAN COMMISSION LIFT Linking Innovation, Finance and Technology /toHøyorfan, A service of the Innovation/SMEs Programme part of the Fifth Research Framework Programme EUROPEAN COMMISSION Linking Innovation Finance and Technology The judicious use of research results, together Lernout & Hauspie, a Belgian company, with adequate marketing and financing, can developed in 1992 a product in an area lead to spectacular results in terms of jobs without real competitors that combined in one and wealth creation. Although one could be product voice compression, recognition and tempted to look to the US for examples, synthesis. Lernout & Hauspie grew on this basis some impressive success stories can be with the support of external investors and is found on our doorstep: now quoted on the NASDAQ with a market capitalisation (early 1999) of $2 billion. Cambridge-based ARM (Advanced Risk Machine) designs chips used by the largest You are taking part in a research project electronic companies and featuring in the new supported by the European Union.You will generation of mobile phones. It started less have to consider at some stage how you are than a decade ago as a tiny company with going to use the results of your research, in 12 engineers. At the end of 1998, it employed particular from a commercial point of view. mone than 350 people and had a market A large number of opportunities will be open capitalisation in excess of L\ billion. to you.

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EUROPEAN
COMMISSION
LIFT
Linking Innovation,
Finance and
Technology
/toHøyorfan,
A service of the Innovation/SMEs Programme part of the Fifth Research Framework Programme EUROPEAN
COMMISSION
Linking Innovation
Finance and
Technology
The judicious use of research results, together Lernout & Hauspie, a Belgian company,
with adequate marketing and financing, can developed in 1992 a product in an area
lead to spectacular results in terms of jobs without real competitors that combined in one
and wealth creation. Although one could be product voice compression, recognition and
tempted to look to the US for examples, synthesis. Lernout & Hauspie grew on this basis
some impressive success stories can be with the support of external investors and is
found on our doorstep: now quoted on the NASDAQ with a market
capitalisation (early 1999) of $2 billion. Cambridge-based ARM (Advanced Risk
Machine) designs chips used by the largest You are taking part in a research project
electronic companies and featuring in the new supported by the European Union.You will
generation of mobile phones. It started less have to consider at some stage how you are
than a decade ago as a tiny company with going to use the results of your research, in
12 engineers. At the end of 1998, it employed particular from a commercial point of view.
mone than 350 people and had a market A large number of opportunities will be open
capitalisation in excess of L\ billion. to you. One of the possibilities is to emulate
one of the above success stories. If you wish The French company Gemplus was created in
to start a new venture, however, the question 1988. Its growth was fuelled by a mixture of
of how to finance it will arise sooner or later. research, use of external sources of finance
and judicious marketing. It is now the world LIFT is there to help you and other potential
leader in smart cards such as those used in high technology entrepreneurs and guide you
portable telephone cards and employs 4000 through the seemingly impenetrable maze
staff in 27 countries. and the traps of financing new technology-
based ventures.This brochure presents the
initial products and services that LIFT is
making available to you for that purpose.
A service of the Innovation/SMEs Programme part of the Fifth Research Framework Programme Planning for success Assessing the state of
readiness and attractiveness
One of the major tools to help set out
of your prospective a convincing case to secure finance for the
business venture
start up or the expansion of a venture is the
business plan. It should cover all aspects of the The successes above and similar stories were
project: the market, the product, the business first built on a technology and a business idea
that guaranteed an early competitive advantage. and its trading position, the marketing strategy,
the manufacturing strategy, the sales forecast, They were also built on the commitment
the management control and the required and skills - largely non-technical - of the
management team and on their ability to find financing package. A well conceived and
periodically updated business plan will also be and convince partners, especially those with
used to ensure the effective management and finance, to support them In their early growth.
control of the business.This is why we have
At each stage in the process of business
included in our package "Preparing a
creation, therefore, technology-based
Technology Business Plan".This is a business
entrepreneurs should check their projects
plan template more specifically designed for
against a number of criteria, including:
technology-based ventures, which you can use
Π The market potential for their as a guide.
product
Fully developing this business plan can take you
Π The calibre of the management team several months.You should, therefore, start very
early on, commencing with the available
d The status of their intellectual
information and refining your business plan little
property
by little. You could well need specialised (e.g.
LI Their financing requirements marketing, technical or financial) support to
complete your business plan. Although we
~! Their presentation skills for
cannot help you directly in completing this
convincing potential partners and
financial backers document, we will be more than happy to
indicate relevant sources of support close to
O The partnerships that they have
you. You can contact the Help Desk for that
already been able to build and their
purpose. requirements in terms of support
"Assessing your venture", which you will find
in our package, is intended to give you the
means to carry out just this sort of review. It
provides a framework, a check list and, in due
course, a scoring mechanism that will allow you
to assess, at any time, the state of readiness of
your project and its attractiveness to financiers.
If you think that answering all the questions
posed is a bit daunting, we will be happy to
provide assistance through our Help Desk. 3
Making an effective approach Understanding sources
to potential sources of finance of finance and their
Presenting your case in an effective and requirements
convincing way is a major factor in securing
Once the business plan is completed, or at
funding for your venture. Having completed
least when you have a clear vision of the
your business plan is a big step in that direction.
planned venture, you will be able to assess your
Still, you might want to test your presentation
requirements in terms of funding. Sources of
skills with investors and financiers and compare
potential funding are numerous.They include
them with those of other entrepreneurs. Our
family and friends, business angels, venture
"Getting your company presentation right"
capitalists and, of course, banks. Your choice will
seminar will provide you with this opportunity.
depend on a large number of factors, including
You will find a description of our seminars on the stage of development of your project,
the LIFT Web Site, as well as a timetable and whether you are still in the research stage or
the means to register for any of these events. at the prototype stage or if you are starting to
commercialise the results of your research. It
The Web Site will also provide you with a list
will also depend on the stage of development
of similar events organised in Europe.You will
of your business: whether it is already
also be able to download directly the various
established or whether it is only a proposed
tools and documents mentioned above from
venture. Your development strategy for the
the Web Site.
business and its potential will also be major
Of course the Help Desk is there to advise
factors.
you if you need more information. You will find
"Financing Innovation - A Guide", which you
a more complete description of the services
will also find in our package, helps you to start
you can expect from the Help Desk on the
addressing these issues, It provides an overview Web Site.
of the various sources which are available to
Sending us back the Registration Form (also
you, depending on your particular
available through the Web Site) will allow you
circumstances.This document will also provide
to benefit from the LIFT services: obtaining all
you with a list of contact points you can use to
the LIFT tools and documents, registering for
identify and approach potential sources of
the LIFT seminars and obtaining support from
funding for your venture.
the Help Desk.
You also have the opportunity to attend the
"Introduction to Innovation Financing"
seminars organised by LIFT. These seminars
will allow you to familiarise yourself with major
funding issues and discuss them openly with
other entrepreneurs as well as with
representatives of the finance world. FINANCE FOR INNOVATION
How ready is your project?
Answering the following questions should help you to decide, in your own mind, how well
placed you are to secure financial support for your new technology-based venture, as well as to
benefit from the services of LIFT If you can answer these questions generally In the affirmative
and would like help in obtaining finance for your venture, please get in touch with us by way of
the attached registration form. We will be pleased to assist you.
market place? Is the product or
0 Key Questions
service already available for sale?
Have you already achieved
commercial sales? CD Have you been a participant in an
EC funded RTD project under the
S Have you secured ownership of or
1ST, BIOTECH or INNOVATION
access to any intellectual property
programmes or in a Joint Research
(e.g. patents, trademarks, design
Centre project?
rights or know-how) on which the
competitive advantage of the Β Do you see a genuine opportunity
venture or technology is based? now to exploit commercially, for
profit, the results of your research
E Do you have in place - or
and development activities?
identified - a confident team of
entrepreneurial managers, with
Β Does your product or service offer
relevant experience, under proven unique features that will enable you
practical and committed leadership? to take advantage of a demonstrable
growth opportunity in the market?
Β Are you fullyd to
Will it enable you to secure a
achieving success against all odds?
profitable and defensible position
Η Are you prepared to share or give against existing and potential new
up some part of the control of your competitors?
venture or intellectual property
Η Is the targeted market attractive in
in return for financial support?
terms of revenue and profit growth?
W Are you and your team prepared
S Has your product or service been to commit personal resources to
fully tested and proven in the the venture? If you wish to make use of LIFT's services to help obtain funding for your venture, please
complete this application form today and send it to us without delay by fax (+352 42 80 03)
or Email (info@lift.lu).
Completing the form should take no more than ten minutes of your time.
General Concept of the Planned Venture Contact Details
Principal technology sector:
Name:
Company/Organisation
Professional qualifications:
Intended role in the venture:
Current title/position:
EC Project Details Current Status of Your Venture
Tick (•) only one:
EC RTD project ref:
Current RTD project
Project Acronym:
Completed RTD project
Pre-Start-Up commercial project
RTD Programme:
New company start-up
Project Officer:
Early-stage company (under 5 years old)
Established company (over 5 years old)
Project Partners: α
Other:
Contact Address
Project Description:
Country: Postcode:
Telephone: Fax:
Date Commenced: Ended:
Mobile:
E-mail: Purpose for Seeking Support
Tick {·/) only one:
Commercial development project D (inc. technology sale, prototype completion)
New company start-up
D
New company spin-off from existing
D company or organisation
Development of existing company
D
Other:
Nature of Support or Assistance Required
Tick {/) one or more:
Assessing your venture α
Guidance on preparing a business plan
D
Guidance on intellectual property
D management issues
Advice on improving presentation skills
D
Information on financiers
D
Access to information on sources of finance
'D
Approaching investors
D
Other:
Declaration
I have read the LIFT Service Charter in this
brochure and hereby confirm my understanding and
acceptance of LIFT's terms and conditions of
service.
Signed: Name:
For and on behalf of:
Date: Getting Help from LIFT
OUT Website http://www.cordis.lu/lift/
Our Web Site will develop as LIFT grows and will, in
time, together with the Innovation Finance Web Site
(http^/cordis.lu/fnance/home.html) become a focal point and
the reference for all those with an interest in the start
up and funding of technology business ventures.
We intend in particular to develop the information on
innovation finance. We also want to make it a meeting point
between innovators, entrepreneurs and financiers through the
Linking Innovation
development of appropriate databases, discussion forums, etc.
Finance and
Technolog}' From now on you can already use it:
A publication from the
To access all the tools and documents
'Innovation and participation
available from LIFT
of SMEs' programme, part of
the European Commission's
To ask to be registered for the seminars
Fifth Research Framework organised by LIFT
Programme.
To obtain a view of the main events and publications The Innovation and SMEs
relative to technology and innovation finance programme promotes
innovation and encourages
To provide us with your feedback and your the participation of small
suggestions on the LIFT service
and medium-sized enterpnses
(SMEs) in the framework
Our Helpdesk programme.
It is based in Luxembourg. In addition to the services Contact
European Commission
mentioned earlier, you can contact its specialists for any
Innovation Help Desk
issue that you do not feel you can solve by yourself. In DG Enterprise C/4
L-2920 Luxembourg particular feel free to put to them any general question
Fax: +352 4301 32084
you may have on the issue of Innovation Finance.
E-mail: lnnovation@cec.eu.mt
On demand, they will be able to:
Π Undertake a confidential screening role.This will
normally entail a high level review of your business
Published by
plan. Any apparent shortcomings or omissions will
LIFT
be communicated to you, with recommendations
I I rue de Bitbourg
for amendments or improvements. L-1273 LUXEMBOURG
Π Help you obtain relevant information, assistance
and advice from other Commission services
and third party sources. These may range from
general business advisory and information services
on the one hand to specialist intellectual property
advisers on the other (inc. IPR Help Desk). © European Commission 2000.
Reproduction 15 authorised, for
non-commercial purposes, provided
Π Help you to identify which specific sources of
the source is acknowledged.
finance are most relevant to your venture. en
σ> SERVICE CHARTER
Our service standards Who we are
□ We are an international, multi-disciplinary O Service available in English, French ro
I team gathering together innovation, and German.
m
technology and financial specialists.We -ζ.
Π Fully confidential. No information I
are fully dedicated to helping and guiding
disclosed to third parties without o
those who have carried out research
the owner's explicit authorisation.
and development with the support of
Community funding and wish to obtain O E-mails, telefaxes and letters acknowledged
financing with a view to setting up a within 24 hours of receipt.
business venture based on the results
Π Submitted documents responded of this research.
to within five working days.
ETI Where it is not appropriate for us
What we provide to help you we will advise you within
24 hours of your enquiry. L~! A complete information package
including a self-assessment tool to
enable contractors to establish the state
of advancement of their prospective
How to contact us?
venture and a business planning model
to help them prepare a viable business plan.
LIFT
Ή Access to guides and directories on 11, Rue de Bitbourg, L-1273 LUXEMBOURG
innovation finance and sources of finance Telephone: (+352) 428001
at Community, national and regional level. Fax : (+352) 428003
E-mail : infotS)lift.lu
L~J Access to seminars and training courses
Web Site: http://www.cordis.lu/lift/
providing both a general introduction to
innovation finance and more specific and
The Help Desk does NOT provide: practical guidance on the financing process
and presentations to investors. Access to Community funding
3 On-line help desk support to provide Investment, Financial, Technical advice
a readily accessible source of assistance
A brokering service
and advice.
And it is NOT in competition with other EC
services or local, regional or national support
services.
Our customers
LIFT is free of charge. It aims to help all eligible
Π Participants in EC funded RTD organisations or individuals. In order to make
programmes. sure that each has an equal opportunity to use
the LIFT services, the time dedicated on the
Π Investors and Financiers interested
helpline to a specific business venture will not
in investing in the commercial exploitation exceed four hours.
of Community funded research results.
DISCLAIMER
The European Commission does not guarantee the correctness or completeness of the information given and is neither responsible nor to be held
accountable for any loss suffered as a result of reliance upon the services of LIFT, Anyn given does not necessarily reflect the official
position of the European Commission. In this regard, it should be noted that the information provided is considered to be of a preliminary nature
and users should contact the competent authorities and other public or private organisations for more detailed information or for advice on
particular courses of action. EUROPEAN
COMMISSION
LIFT
Assessing
your venture
A service of the Innovation/SMEs Programme <ij0h part of the Fifth Research Framework Programme