ExpectedOutcome:
Project results are expected to contribute to all of the following expected outcomes:
Increased access to capital and investments in less connected innovation ecosystems, enhancing their openness, competitiveness, and global potential;Increased venture investments and enabled late-stage growth of local start-ups in less connected and developing innovation ecosystems;Facilitated investors’ access to the flow of local deals;Improved investors’ knowledge on regulatory frameworks and networks to support joint cross-border ventures in new markets.
Scope:
Target group(s): Business-acceleration providers such as incubators, accelerators, company-builders, innovation agencies, business clubs and networks, public and private VCs and their networks, national and regional promotional banks.
The lack of funding is one of the most problematic aspects of business growth in less connected innovation ecosystems and there are huge disparities between company needs and the available funding. Existing interventions by public and private funders are limited and further resources are necessary to bridge the gap. The lack of f...
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ExpectedOutcome:
Project results are expected to contribute to all of the following expected outcomes:
Increased access to capital and investments in less connected innovation ecosystems, enhancing their openness, competitiveness, and global potential;Increased venture investments and enabled late-stage growth of local start-ups in less connected and developing innovation ecosystems;Facilitated investors’ access to the flow of local deals;Improved investors’ knowledge on regulatory frameworks and networks to support joint cross-border ventures in new markets.
Scope:
Target group(s): Business-acceleration providers such as incubators, accelerators, company-builders, innovation agencies, business clubs and networks, public and private VCs and their networks, national and regional promotional banks.
The lack of funding is one of the most problematic aspects of business growth in less connected innovation ecosystems and there are huge disparities between company needs and the available funding. Existing interventions by public and private funders are limited and further resources are necessary to bridge the gap. The lack of funding is harmful for local start-ups’ survival rate and the development of regional scale-ups, especially for women-led companies. While the established European start-up hubs attract significant money and attention, the innovation ecosystems in other areas try to keep pace with fewer resources. In the struggle for resources, many start-ups face the choice to either close their business or move elsewhere, while foreign investors struggle to enter new markets due to insufficient information about the market, its opportunities and regulatory frameworks.
The Expanding Investments Ecosystems should attract foreign investors into “modest’ and ‘moderate’ innovation ecosystems by raising awareness of local innovation ecosystems and their start-ups, as well as the potential of the whole region, to capital providers from across Europe.
The action supports co-designed programmes of activities, of at least two (2) years, proposed by business acceleration service providers and/or investor networks and clubs, located in less connected innovation ecosystems (‘modest’ and ‘moderate’) and innovation hubs (‘strong innovators’ and innovation leaders’)[1], to facilitate the entry of funders in less connected innovation ecosystems through activities, for example:
market orientation / introduction programmes for European investors, including establishment of central points of information for foreign investors providing them with knowledge on the ecosystem's establishment conditions, incentives, tax and legislation;assistance to foreign EU and international investors / Venture Capitalists, including women investors, during the whole process of investment, from the pre-entry stage until the exit, by ensuring support in administrative, legal, linguistic and cultural issues;organisation of European and worldwide international business forums, conferences and events to attract and connect international with local investors;peer-matching of investors and other networking activities to encourage joint ventures;a repository of best practices of market entry facilitation for international investors;a list of recommendations for local authorities and European regulators to better address investors’ entry challenges and facilitate cross-border deals. To ensure that the impact of the action goes beyond consortium members and their respective countries, it is encouraged that the consortium works closely with innovation agencies from their respective territories and beyond, and seeks for synergies with relevant EU initiatives such as the Enterprise Europe Network.
[1]References: Regional Innovation Scoreboard (RIS), European Innovation Scoreboard (EIS), Global Innovation Index (GII).
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