Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - IE-2018-Vienna (Innovative Enterprise Vienna 2018)
Teaser
\"\"\"Innovative Enterprise Vienna 2018\"\" (IEV2018), a joint event of the European Commission and the Austrian EU Council Presidency, took place at the Austria Center Vienna on 21-22 November 2018. \"\"Innovative Enterprise\"\" is the central event format of the European...
Summary
\"\"\"Innovative Enterprise Vienna 2018\"\" (IEV2018), a joint event of the European Commission and the Austrian EU Council Presidency, took place at the Austria Center Vienna on 21-22 November 2018. \"\"Innovative Enterprise\"\" is the central event format of the European Commission/DG Research and Innovation, with regard to \"\"Access to Risk Finance Activities\"\" for innovative companies.
The event was opened by Michael Esterl, Secretary General of the Federal Ministry of Digital and Economic Affairs (BMDW), together with Patrick Child, Deputy Director General of DG Research and Innovation. Their opening addresses were complemented by introductory remarks from Wilhelm Molterer, President of the European Fund for Strategic Investment (EFSI), and the CEO of EIF, Pierluigi Gilibert.
IEV2018 took place at a particularly decisive moment in time: The consultations on the successor programme of Horizon 2020 were at a very decisive stage, driven by the Austrian EU Council Presidency. The event therefore looked deeply into the EC\'s plans for a \"\"European Innovation Council\"\" (EIC), which is foreseen to form the third pillar of Horizon Europe. The main objective of the EIC will be to enable highly successful international market entry for Europe’s most promising breakthrough innovators, by at the same time scaling up these enterprises (mostly SMEs) to a real next level. In financial terms, the Commission intends to provide \"\"blended finance\"\" to these entrepreneurs, i.e. a mix of grants and equity.
The event put strong emphasis on including real-life experiences of entrepreneurs. The Austrian Research Promotion Agency (FFG) showcased its role in supporting these companies in their preparatory phase.
Beyond this particular EIC-related emphasis, IEV2018 also put a focus on the broad range of InnovFin Risk Finance measures. The positive effects of collaboration between European and national levels in innovative enterprise finance were well demonstrated by the Austrian aws entering into the next phase of InnovEnterprise SME guarantee finance with an additional guarantee amount of € 96 million. This was celebrated by a signing ceremony between EIF and aws on the first day of the conference.
The range of InnovFin measures (financially topped up by the Juncker Plan = EFSI) in the current period will be continued by the InvestEU programme from 2021 onwards, as Wilhelm Molterer, Managing Director of EFSI, made very clear. Equity finance for innovation is still a difficult field for Austria in some respects. A recent study from Germany was taken as a basis to discuss which further development steps could be taken in Austria. A highly relevant recent InnoFin/EFSI development that was also presented at the conference is the Pan-European Fund-of-Funds intiative (FoF) \"\"Venture EU\"\". Such FoF approaches could be a powerful uplift for European equity-based innovation finance to a real next level.
Novel thematic finance models of the InnovFin range were also presented, such as the particular facilities for Infectious Diseases (IDFF), for Energy Demo Pilots (EDP), and also the new \"\"Thematic Investment Platform\"\" (TIP) model, with the first thematic platform on \"\"Circular Biotechnology\"\" to be launched very soon.
The EU-financed \"\"Access4SMEs\"\" network was an important partner for the conference, not only by organising a particular session with regard to the challenges of deeptech, but also by organising one out of two investment pitching sessions, which took place in parallel to the main conference. These two additional parallel pitching sessions were a real novelty of the Austrian \"\"Innovative Enterprise\"\" event, demonstrating equity finance matching in practice. The Austrian \"\"Pioneers\"\"- globally renowned for the \"\"Pioneers Festival\"\" - organised their successful pitching session on the first day. Both presented their inspiring winners to the conference.
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Work performed
Objective of the project was to organise a 2 full day international conference, including a restricted VIP-dinner in the evening prior to the conference and a Gala-Dinner for all Participants at the end of the first day.
Work performed was split into 5 work packages:
1.) Conference Management
Work package generally united all managerial tasks to bring objective of conference in to re-al life. Management works included overall and particular cooperation between all project participants.
Main works were management of and coordination between the different work packages.
2.) Speakers & Participants Management
• Coordination of conference speakers and policy-makers, EU representatives, al-so potentially EIB and EIF representatives
• Optimal integration of both pitching formats
• Accommodation and Travel services for conference speakers
3.) Legal & Tender Management
• Closed H2020 GENERAL MGA
• Provided and ensured all agreements regarding all conference work packages
4.) Facilities & Logistics Management
• Selection of locations for the conference
• Securing the technical requirements
5.) Communication & Information Management
• Creation and maintenance of identity of conference
• Set up all social & public media channels in accordance with media plan
• Maintained regular information flow towards public regarding conference and its results
• Recorded and produced conference sessions
Created and maintained all out and indoor signs
6.) Financial & Accounting Management
• Set up project accounting system in accordance with grant program requirements and legislation framework
• Prepared, consolidated and controlled project budget
• Made all project payments and controlled them within budget frame, organized all finan-cial reports and required audits of project
Total number of participants: 507
A total of 37 countries were represented.
Final results
Altogether, IEV2018 has addressed most relevant and actual issues: Bridging the gaps of Innovation Finance and Access to Risk Capital are most crucial issues in Europe, which require highest attention: As compared to other regions outside Europe, Europe’s R&D investment is higher, but innovation outputs tend to be lower. This is particularly due to persisting gaps in innovation finance, in particular in close-to-market segments. The EC’s activities presented and discussed during IEV2018 (from Innov-Fin activities to EIC-related activities) have been designed for the purpose to successfully overcome these gaps, and will therefore contribute to growth, jobs and welfare in Europe.
The event has significiantly raised awareness and stimulated discussion and interest with respect to the topics and instruments addressed, by gathering more than 500 participants from 37 countries.
IEV2018 was one of several important RDI-related events during the Austrian EU Council chairmanship, which culminated in reaching the PGA for Horizon Europe in the Ministerial Council on 29 November - to which also the discussions in the event have been an important flanking preparatory element.
Furthermore, Innovative Enterprise has clearly raised the awareness on the importance of well-developed linkages between the future programmes Horizon Europe and InvestEU.
Finally, IEV2018 has prepared for the next steps: Based on IEV2018 and on the forthcoming EIC Roadshow tour of the EC, the way for a successful participation in EIC Pilot Pathfinder and Accelerator has been paved in the best possible way - for Austria in particular, but also for Europe as a whole.
Website & more info
More info: https://innoenterprisevienna2018.eu.